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ACCD Accolade

Accolade provides personalized health and benefits solutions designed to empower every person to live their healthiest life. Accolade helps millions of people and their employers navigate the complexities of the healthcare system with empathy, expertise and through exceptional service while supporting them in lowering the cost of care and improving health outcomes. Accolade blends technology-enabled health and benefits solutions, specialized support from Accolade Health Assistants® and Clinicians and access to expert medical opinion services for high-cost treatment decisions. Accolade consistently receives consumer satisfaction ratings over 90 percent.

Company profile

Ticker
ACCD
Exchange
CEO
Rajeev Singh
Employees
Incorporated
Location
Fiscal year end
Former names
Accolade LLC
SEC CIK
Subsidiaries
MD Insider, Inc. ...
IRS number
432117836

ACCD stock data

(
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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

7 Oct 21
24 Oct 21
28 Feb 22
Quarter (USD)
Aug 21 May 21 Feb 21 Nov 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Feb 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Accolade earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 384M 384M 384M 384M 384M 384M
Cash burn (monthly) (positive/no burn) (positive/no burn) 25.07M 12.04M 3.68M 3.38M
Cash used (since last report) n/a n/a 44.53M 21.38M 6.53M 6M
Cash remaining n/a n/a 339.47M 362.62M 377.47M 378.01M
Runway (months of cash) n/a n/a 13.5 30.1 102.7 111.9

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
7 Oct 21 Thomas J Neff Common Stock Option exercise Acquire M No No 17.5 179 3.13K 26,358
7 Oct 21 Thomas J Neff Common Stock Option exercise Acquire M No No 4.7 417 1.96K 26,179
7 Oct 21 Thomas J Neff Common Stock Option exercise Acquire M No No 4.7 500 2.35K 25,762
7 Oct 21 Thomas J Neff Stock Option Common Stock Option exercise Dispose M No No 17.5 179 3.13K 5,913
7 Oct 21 Thomas J Neff Stock Option Common Stock Option exercise Dispose M No No 4.7 417 1.96K 4,163
7 Oct 21 Thomas J Neff Stock Option Common Stock Option exercise Dispose M No No 4.7 500 2.35K 1,750
1 Sep 21 Thomas J Neff Common Stock Option exercise Acquire M No No 0 461 0 25,262
1 Sep 21 Thomas J Neff RSU Common Stock Option exercise Dispose M No No 0 461 0 922
1 Sep 21 Wadors Patricia L Common Stock Option exercise Acquire M No No 0 461 0 922
1 Sep 21 Wadors Patricia L RSU Common Stock Option exercise Dispose M No No 0 461 0 922

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

73.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 161 144 +11.8%
Opened positions 37 46 -19.6%
Closed positions 20 21 -4.8%
Increased positions 73 71 +2.8%
Reduced positions 34 18 +88.9%
13F shares
Current Prev Q Change
Total value 2.6B 2.09B +24.4%
Total shares 48.69M 46.19M +5.4%
Total puts 39.1K 63.9K -38.8%
Total calls 516.3K 178.1K +189.9%
Total put/call ratio 0.1 0.4 -78.9%
Largest owners
Shares Value Change
ARK Investment Management 5.42M $294.2M +2.1%
Vanguard 3.92M $212.72M +5.6%
Andreessen Horowitz Fund IV 3.78M $164.41M 0.0%
AH Equity Partners IV 3.78M $205.27M 0.0%
Select Equity 2.77M $150.62M +36.3%
BLK Blackrock 2.7M $146.41M +40.1%
BLVGF Bellevue 1.72M $93.67M +10.5%
JHG Janus Henderson 1.7M $92.55M +43.6%
Wellington Management 1.6M $87.01M +27.2%
JPM JPMorgan Chase & Co. 1.43M $77.71M -14.4%
Largest transactions
Shares Bought/sold Change
University Of Texas/texas Am Investment Managment 0 -1.19M EXIT
Gilder Gagnon Howe & Co 1.06M -834.19K -44.0%
BLK Blackrock 2.7M +771.58K +40.1%
Select Equity 2.77M +738.7K +36.3%
TROW T. Rowe Price 1.4M +557.55K +66.4%
JHG Janus Henderson 1.7M +516.93K +43.6%
BAC Bank Of America 515.79K +460.76K +837.2%
BX Blackstone 0 -400K EXIT
DB Deutsche Bank AG - Registered Shares 462.91K +373.68K +418.8%
Madrona Venture 0 -349.49K EXIT

Financial report summary

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Competition
Castlight Health
Risks
  • We have a history of net losses, we anticipate increasing expenses in the future, and we may not be able to achieve or maintain profitability.
  • We derive a significant portion of our revenue from our largest customers. The loss of any of these customers, or renegotiation of any of our contracts with these customers, could negatively impact our results.
  • We have a limited operating history with our current offerings, which makes it difficult to evaluate our current and future business prospects and increases the risk of your investment.
  • Our business, results of operations, and financial condition may fluctuate on a quarterly and annual basis, which may result in a decline in our stock price if such fluctuations result in a failure to meet any projections that we may provide or the expectations of securities analysts or investors.
  • Our sales cycle can be long and unpredictable and requires considerable time and expense. As a result, our sales, revenue, and cash flows are difficult to predict and may vary substantially from period to period, which may cause our results of operations to fluctuate significantly.
  • Certain of our operating results and financial metrics may be difficult to predict as a result of seasonality.
  • The recognition of a portion of our revenue is subject to the achievement of performance metrics and healthcare cost savings and may not be representative of revenue for future periods.
  • If we fail to effectively manage our growth and organizational change, our mission-driven culture could be impacted, and our business could be harmed.
  • If we are unable to attract, integrate, and retain additional qualified personnel, especially for Accolade Health Assistant, clinical, and various product and technology roles, our business could be adversely affected.
  • We may face intense competition, which could limit our ability to maintain or expand market share within our industry, and if we do not maintain or expand our market share our business and operating results will be harmed.
  • The growth of our business relies, in part, on the growth and success of our customers and the number of members with access to our offerings, which are difficult to predict and are affected by factors outside of our control.
  • We may be unable to successfully execute on our growth initiatives, business strategies, or operating plans.
  • We may acquire other companies or technologies, which could divert our management’s attention, result in dilution to our stockholders, and otherwise disrupt our operations, and we may have difficulty integrating any such acquisitions successfully or realizing the anticipated benefits therefrom, any of which could have an adverse effect on our business, financial condition, and results of operations.
  • If we do not continue to innovate and provide offerings that are useful to customers and members that achieve and maintain market acceptance, we may not remain competitive, and our revenue and results of operations could suffer.
  • The growth of our business and future success relies in part on our partnerships and other relationships with third parties and our business could be harmed if we fail to maintain or expand these relationships.
  • If the estimates and assumptions we use to determine the size of our total addressable market are inaccurate, our future growth rate may be impacted and our business would be harmed.
  • We depend on our senior management team, and the loss of one or more of these employees, or an inability to attract and retain qualified key personnel, could adversely affect our business.
  • If we are not able to maintain and enhance our reputation and brand recognition, our business and results of operations will be harmed.
  • Any failure to offer high-quality customer and member support services could adversely affect our relationships with our customers and partners and our operating results.
  • If our existing customers do not continue to renew their contracts with us, renew at lower fee levels, decline to purchase additional offerings from us, or terminate their contracts for convenience, our business could be harmed.
  • The healthcare industry is rapidly evolving and the market for technology-enabled solutions that empower healthcare consumers is relatively immature and unproven. If we are not successful in promoting the benefits of our existing and future offerings, our growth may be limited.
  • We have been and may in the future become subject to litigation, which could harm our business.
  • Security breaches, loss of data, and other disruptions could compromise sensitive information related to our business, customers, members, or partners, or prevent us from accessing critical information and expose us to liability, which could adversely affect our business and our reputation.
  • If we fail to provide accurate and timely information, or if our Accolade Health Assistants and clinicians, our content, or any other element of our existing and future offerings is associated with faulty administrative or clinical decisions or treatment, we could have liability to customers or members, which could adversely affect our results of operations.
  • We rely on Internet infrastructure, bandwidth providers, data center providers, other third parties, and our own systems for providing solutions to our customers, and any failure or interruption in the services provided by these third parties or our own systems could expose us to litigation and negatively impact our relationships with customers, adversely affecting our brand and our business.
  • The COVID-19 pandemic may significantly disrupt our operations and negatively impact our business, financial condition, and results of operations.
  • Changes in the health insurance market, ERISA laws, state insurance laws, or other laws could harm our business.
  • If we fail to comply with healthcare laws and regulations, we could face substantial penalties and our business could be harmed.
  • Our use, disclosure, and other processing of PII and PHI is subject to HIPAA and other federal, state, and foreign privacy and security regulations, and our failure to comply with those regulations or to adequately secure the information we hold could result in significant liability or reputational harm and, in turn, a material adverse effect on our customer base, member base and revenue.
  • Our employment and use of nurses, physician medical directors and our other clinicians and our engagement of physicians may subject us to licensing and other regulatory risks.
  • Evolving government regulations may require increased costs or adversely affect our results of operations.
  • Individuals may claim our outbound engagement techniques, including outbound telephone calls and digital outreach, are not compliant with HIPAA or federal marketing laws.
  • The FDA may in the future determine that our technology solutions are subject to the Federal Food, Drug, and Cosmetic Act, and we may face additional costs and risks as a result.
  • Taxing authorities may successfully assert that we should have collected or in the future should collect sales and use, value-added, or similar taxes, and we could be subject to liability with respect to past or future sales, which could adversely affect our results of operations.
  • Our ability to use our net operating loss carryforwards and certain other tax attributes may be limited.
  • Failure to protect or enforce our intellectual property rights could harm our business and results of operations.
  • Third parties may initiate legal proceedings alleging that we are infringing or otherwise violating their intellectual property rights, the outcome of which would be uncertain and could harm our business.
  • Our use of open source software could adversely affect our ability to offer our solutions and subject us to possible litigation.
  • Any restrictions on our ability to obtain or use data could harm our business.
  • We are an “emerging growth company,” and our election to comply with the reduced disclosure requirements as a public company may make our common stock less attractive to investors.
  • If we fail to maintain an effective system of disclosure controls and internal control over financial reporting, our ability to produce timely and accurate financial statements or comply with applicable regulations could be impaired.
  • Sales of substantial amounts of our common stock in the public markets, or the perception that such sales could occur, could reduce the price that our common stock might otherwise attain.
  • In order to support the growth of our business, we may need to incur additional indebtedness under our current credit facility or seek capital through new equity or debt financings, which sources of additional capital may not be available to us on acceptable terms or at all.
  • If securities or industry analysts publish reports that are interpreted negatively by the investment community or publish negative or inaccurate research reports about our business, our share price and trading volume could decline.
  • We do not currently intend to pay dividends on our common stock and, consequently, your ability to achieve a return on your investment will depend on appreciation in the price of our common stock.
  • Anti-takeover provisions in our charter documents and under Delaware law could make an acquisition of us more difficult, limit attempts by our stockholders to replace or remove our current management, and may limit the market price of our common stock.
  • Our amended and restated certificate of incorporation provides that the Court of Chancery of the State of Delaware and, to the extent enforceable, the federal district courts of the United States of America, will be the exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or employees.
  • Our issuance of additional capital stock in connection with financings, acquisitions, investments, our stock incentive plans, or otherwise will dilute all other stockholders.
  • Our credit agreement contains certain restrictions that may limit our ability to operate our business.
Management Discussion
  • Revenue increased $36.5 million, or 99%, to $73.3 million for the three months ended August 31, 2021, as compared to $36.8 million for the three months ended August 31, 2020. The increase was attributable primarily to $12.1 million and $12.7 million in revenues derived from the 2nd.MD and PlushCare acquisitions, respectively, along with growth in the number of customers served during such period, as compared to the prior year’s corresponding period.
  • Revenue increased $60.1 million, or 83%, to $132.8 million for the six months ended August 31, 2021, as compared to $72.7 million for the six months ended August 31, 2020. The increase was attributable primarily to $24.0 million and $12.7 million in revenues derived from the 2nd.MD and PlushCare acquisitions, respectively, along with growth in the number of customers served during such period, as compared to the prior year’s corresponding period.
  • Cost of revenue, excluding depreciation and amortization increased $23.3 million, or 110%, to $44.3 million for the three months ended August 31, 2021, as compared to $21.1 million for three months ended August 31, 2020. The increase was attributable primarily to cost of revenue incurred by 2nd.MD and PlushCare, which contributed revenues from the acquisition date as of March 3, 2021 and June 9, 2021, respectively, through August 31, 2021, as well as an increase in personnel and related costs to serve the customer base which grew in the second quarter of fiscal 2022, as compared to the second quarter of fiscal 2021.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Good
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