Announcement • Jan 10
Transcarent, Inc. agreed to acquire Accolade, Inc. (NasdaqGS:ACCD) from AH Parallel Fund IV, L.P. and Andreessen Horowitz Fund IV, L.P. managed by Andreessen Horowitz LLC and others for approximately $620 million. Transcarent, Inc. agreed to acquire Accolade, Inc. (NasdaqGS:ACCD) from AH Parallel Fund IV, L.P. and Andreessen Horowitz Fund IV, L.P. managed by Andreessen Horowitz LLC and others for approximately $620 million on January 8, 2025. Pursuant to the Merger Agreement, each share of Accolade will automatically be converted into the right to receive $7.03 in cash. In case of termination of transaction, Transcarent, Inc. will pay a termination fee of $29.95 million and McKesson Ventures, Cross Creek Advisors, LLC and Madera Technology Partners will pay a termination fee of $19.80 million. Transcarent will finance the transaction through a fully-committed equity financing led by General Catalyst and Glen Tullman’s 62 Ventures. Upon the completion of the acquisition, Accolade will become a privately held company and its common stock will no longer be listed on Nasdaq.
The transaction is subject to approval by regulatory board / committee, approval of merger agreement by target board, approval of offer by acquirer shareholders, approval of offer by acquirer board, approval of offer by target shareholders and subject to antitrust regulations. The deal has been unanimously approved by the board of acquirer and target. The transaction is expected to complete in Q2, 2025.
Evercore Inc. acted as financial advisor for Transcarent, Inc. Rich Mullen, Jack Hamilton, Ross Tanaka and Lianna Whittleton of Wilson Sonsini Goodrich & Rosati, P.C. acted as legal advisor for Transcarent, Inc. Morgan Stanley & Co. LLC acted as financial advisor for Accolade, Inc. Jamie Leigh, Anne Lieberman and Alan Hambelton of Cooley LLP acted as legal advisor for Accolade, Inc. Morgan Stanley & Co. LLC acted as fairness opinion provider for Accolade, Inc. Announcement • Dec 16
Accolade, Inc. to Report Q3, 2025 Results on Jan 09, 2025 Accolade, Inc. announced that they will report Q3, 2025 results After-Market on Jan 09, 2025 Reported Earnings • Oct 08
Second quarter 2025 earnings released: US$0.30 loss per share (vs US$0.43 loss in 2Q 2024) Second quarter 2025 results: US$0.30 loss per share (improved from US$0.43 loss in 2Q 2024). Revenue: US$106.4m (up 9.8% from 2Q 2024). Net loss: US$23.9m (loss narrowed 27% from 2Q 2024). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Healthcare industry in Germany. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 51% per year, which means it is significantly lagging earnings. Announcement • Sep 18
Accolade, Inc. to Report Q2, 2025 Results on Oct 08, 2024 Accolade, Inc. announced that they will report Q2, 2025 results Pre-Market on Oct 08, 2024 Reported Earnings • Jun 28
First quarter 2025 earnings released: US$0.35 loss per share (vs US$0.53 loss in 1Q 2024) First quarter 2025 results: US$0.35 loss per share (improved from US$0.53 loss in 1Q 2024). Revenue: US$110.5m (up 19% from 1Q 2024). Net loss: US$27.6m (loss narrowed 28% from 1Q 2024). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Healthcare industry in Germany. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 50% per year, which means it is significantly lagging earnings. Announcement • Jun 24
Accolade, Inc., Annual General Meeting, Aug 06, 2024 Accolade, Inc., Annual General Meeting, Aug 06, 2024. Announcement • Jun 15
Accolade, Inc. to Report Q1, 2025 Results on Jun 27, 2024 Accolade, Inc. announced that they will report Q1, 2025 results After-Market on Jun 27, 2024 Reported Earnings • Apr 26
Full year 2024 earnings released: US$1.33 loss per share (vs US$6.45 loss in FY 2023) Full year 2024 results: US$1.33 loss per share (improved from US$6.45 loss in FY 2023). Revenue: US$414.3m (up 14% from FY 2023). Net loss: US$99.8m (loss narrowed 78% from FY 2023). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Healthcare industry in Germany. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 40% per year, which means it is performing significantly worse than earnings. Announcement • Apr 04
Accolade, Inc. to Report Q4, 2024 Results on Apr 25, 2024 Accolade, Inc. announced that they will report Q4, 2024 results After-Market on Apr 25, 2024 Announcement • Mar 20
Accolade, Inc. Promotes Kelsi McDonald Harris to Chief People Officer and Senior Vice President Accolade, Inc. announced the promotion of Kelsi McDonald Harris as Chief People Officer and Senior Vice President. McDonald Harris currently serves as Vice President of Strategy and Planning on the Executive Leadership Team. Over her tenure she has overseen cultural transformation, double digit improvements in Employee NPS, and led efforts to integrate diverse company cultures through multiple acquisitions. Her promotion to Chief People Officer underscores the company's commitment to nurturing leaders from within. As Chief People Officer, McDonald Harris will oversee employee experience for Accolade's 2,400+ employees and foster community, connection, and cultural alignment within the organization. She will lead the company's People & Culture business unit responsible for talent acquisition, diversity, equity and inclusion, people operations, total rewards, employee development, performance management, and employee experience. McDonald Harris joined Accolade in 2017 as a People & Culture business partner and has held numerous positions throughout the business during her tenure, including Chief of Staff to Product and Technology during three acquisitions and the company's IPO. In her current role as Vice President of Strategy and Planning, McDonald Harris leads, develops, communicates, and supports the execution of Accolade's strategic initiatives. Prior to Accolade, McDonald Harris held Human Resources roles at Target Corporation. She holds a Bachelor of Science in Global Business and a Master of Business Administration with a Leadership emphasis from the W. P. Carey School of Business at Arizona State University. Jennifer Hanson, Accolade's previous human resources leader, will continue to contribute her 20+ years of experience as a visionary healthcare and human resources leader to build Accolade's connections across the industry and foster authentic relationships with customers, industry experts, and thought leaders. She will serve as a key advisor to Accolade's Executive Leadership Team. Reported Earnings • Jan 09
Third quarter 2024 earnings released: US$0.28 loss per share (vs US$0.56 loss in 3Q 2023) Third quarter 2024 results: US$0.28 loss per share (improved from US$0.56 loss in 3Q 2023). Revenue: US$99.4m (up 9.3% from 3Q 2023). Net loss: US$21.1m (loss narrowed 47% from 3Q 2023). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 1.0% decline forecast for the Healthcare industry in Germany. Announcement • Jan 09
Accolade, Inc. Provides Earnings Guidance for the Fourth Quarter and Year Ending February 29, 2024 and Year Ending February 28, 2025 Accolade, Inc. provided earnings guidance for the fourth quarter and year ending February 29, 2024 and year ending February 28, 2025. For the fourth quarter ending February 29, 2024, the company expects revenue between $121.5 million and $125.5 million. For the year ending February 29, 2024, the company expects revenue between $411 million and $415 million.For the year ending February 28, 2025, the company expects revenue growth of approximately 20%. Announcement • Dec 12
Accolade, Inc. to Report Q3, 2024 Results on Jan 08, 2024 Accolade, Inc. announced that they will report Q3, 2024 results After-Market on Jan 08, 2024 Reported Earnings • Oct 06
Second quarter 2024 earnings released: US$0.43 loss per share (vs US$0.66 loss in 2Q 2023) Second quarter 2024 results: US$0.43 loss per share (improved from US$0.66 loss in 2Q 2023). Revenue: US$96.9m (up 11% from 2Q 2023). Net loss: US$32.8m (loss narrowed 29% from 2Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Healthcare industry in Germany. Announcement • Sep 21
Accolade, Inc. to Report Q2, 2024 Results on Oct 04, 2023 Accolade, Inc. announced that they will report Q2, 2024 results After-Market on Oct 04, 2023 Announcement • Sep 19
Accolade Expands Physician-Executive Leadership to Enhance Care Delivery and Improve the Healthcare Experience Accolade announced the expansion of its care delivery team, strengthening the company's ability to streamline healthcare experiences through physician-led advocacy. Connie Hwang, MD, MPH, joins Accolade to lead population health strategies for employers and health plans. Led by Shantanu Nundy, MD, executive vice president, chief health officer, the care delivery leadership team includes Dr. Hwang, senior vice president, chief medical officer; James Wantuck, MD, senior vice president, associate chief medical officer and co-founder of PlushCare; Kate Rollins, MSN, RN, senior vice president assuming the newly created role of chief nursing officer. As chief health officer, Dr. Nundy leads care delivery with a charter to develop strategies that restore and improve the trusted connection between members and physicians, expand Accolade's coordination with brick-and-mortar healthcare providers, and improve health equity and outcomes. Dr. Hwang joins Accolade as chief medical officer responsible for executing clinical and population health strategies for customers. She brings extensive experience in working with employer and health plan executives to accelerate clinical innovation, value-based care and care delivery transformation. Hwang will lead a team of medical directors and clinical analysts, driving clinical outcomes for members and their employers. She will shape the clinical direction of Accolade's products and services, innovating and reimagining existing and future solutions and serve as the primary clinical representative of the company to enterprise customers and health plan partners. As associate chief medical officer, James Wantuck leads the clinical team that supports the Accolade Care solution and contributes to significant strategic initiatives company wide. He is focused on managing a large and growing group of physicians, therapists, and clinical operations staff with a goal of creating a high performing clinical organization that is viewed as the premier place to work. Dr. Wantuck is a board-certified internal medicine physician, having trained at Stanford University Medical Center and completed his Medical Doctorate (MD) at Vanderbilt University Medical School. He co-founded PlushCare in 2015, building the company from the ground up to include over two hundred physicians that continue to provide high-quality and accessible direct-to-consumer virtual care for hundreds of thousands of patients. As chief nursing officer, Kate Rollins oversees Accolade's nurses and other clinicians that serve members with empathy and trusted guidance. Rollins' operational team of nurses, pharmacists, social workers and dieticians provide 24/7 nurse triage, case management, expert medical opinion and virtual practice operations. Her team partners closely with customers to implement clinical population health goals, maximize referrals to their digital health solutions if part of Accolade's Trusted Partner Ecosystem, and coordinate member care with brick-and-mortar providers. Rollins led Accolade's successful application for a three-year accreditation from the National Committee for Quality Assurance (NCQA) for case management. Reported Earnings • Jul 01
First quarter 2024 earnings released: US$0.53 loss per share (vs US$4.92 loss in 1Q 2023) First quarter 2024 results: US$0.53 loss per share (improved from US$4.92 loss in 1Q 2023). Revenue: US$93.2m (up 9.0% from 1Q 2023). Net loss: US$38.4m (loss narrowed 89% from 1Q 2023). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Healthcare industry in Germany. Announcement • Jun 28
Accolade, Inc., Annual General Meeting, Aug 08, 2023 Accolade, Inc., Annual General Meeting, Aug 08, 2023, at 10:00 US Eastern Standard Time. Agenda: To elect the four nominees for director named herein to the Accolade Board of Directors to hold office until the 2026 Annual Meeting of Stockholders; to approve, on an advisory basis, the compensation of the Company's named executive officers, as disclosed in the accompanying proxy statement; to ratify the selection by the Audit Committee of the Board of Directors of KPMG LLP as the independent registered public accounting firm of the Company for its fiscal year ending February 29, 2024; and to conduct any other business properly brought before the meeting. Announcement • Jun 14
Accolade, Inc. to Report Q1, 2024 Results on Jun 29, 2023 Accolade, Inc. announced that they will report Q1, 2024 results After-Market on Jun 29, 2023 Reported Earnings • Apr 30
Full year 2023 earnings released: US$6.45 loss per share (vs US$1.93 loss in FY 2022) Full year 2023 results: US$6.45 loss per share (further deteriorated from US$1.93 loss in FY 2022). Revenue: US$363.1m (up 17% from FY 2022). Net loss: US$459.7m (loss widened 273% from FY 2022). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Healthcare industry in Germany. Announcement • Feb 17
Accolade, Inc. Announces Changes to Its Board of Directors Accolade, Inc. announced changes to its Board of Directors. The Company announced that long-time executive Michael Hilton will step down from his operating role at the Company to join the Board of Directors, replacing Tom Neff, who has served on Accolade’s Board since 2010. Michael Hilton joined Accolade in November 2015 as Chief Product Officer, leading Accolade’s transition from a services company to a products and services market leader. Prior to Accolade, Hilton was co-founder of Concur with Accolade CEO Rajeev Singh and Steve Singh. Hilton has previously served on the Boards of Directors of publicly traded Plex Systems and Concur, and privately held Apptentive, Yapta and Trover. Hilton is a graduate of University of California Santa Cruz and lives in Washington State. Reported Earnings • Jan 11
Third quarter 2023 earnings released: US$0.56 loss per share (vs US$0.34 profit in 3Q 2022) Third quarter 2023 results: US$0.56 loss per share (down from US$0.34 profit in 3Q 2022). Revenue: US$90.9m (up 9.0% from 3Q 2022). Net loss: US$39.9m (down 277% from profit in 3Q 2022). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Healthcare industry in Germany. Announcement • Jan 10
Accolade, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year Ending February 28, 2023; Provides Earnings Guidance for the Year Ending February 29, 2024 Accolade, Inc. provided earnings guidance for the fourth quarter ending February 28, 2023. For the quarter, the company expects revenue between $97 million and $101 million. For the year ending February 28, 2023, the company expects revenue between $361 million and $365 million.For the fiscal year ending February 29, 2024, the company expects Revenue of approximately $410 million. Announcement • Dec 21
Accolade, Inc. to Report Q3, 2023 Results on Jan 09, 2023 Accolade, Inc. announced that they will report Q3, 2023 results After-Market on Jan 09, 2023 Reported Earnings • Oct 08
Second quarter 2023 earnings released: US$0.66 loss per share (vs US$0.97 loss in 2Q 2022) Second quarter 2023 results: US$0.66 loss per share (improved from US$0.97 loss in 2Q 2022). Revenue: US$87.6m (up 20% from 2Q 2022). Net loss: US$46.5m (loss narrowed 25% from 2Q 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Healthcare industry in Germany. Announcement • Oct 07
Accolade, Inc. Provides Revenue Guidance for the Fiscal Third Quarter Ending November 30, 2022 and Fiscal Year Ending February 28, 2023 Accolade, Inc. provided revenue guidance for the fiscal third quarter ending November 30, 2022 and fiscal year ending February 28, 2023. For the quarter, the company expected revenue between $86 million and $88 million.For the fiscal year ending February 28, 2023, for the company expected revenue between $358 million and $365 million. Announcement • Sep 20
Accolade, Inc. to Report Q2, 2023 Results on Oct 06, 2022 Accolade, Inc. announced that they will report Q2, 2023 results After-Market on Oct 06, 2022 Recent Insider Transactions • Aug 04
Chairman of the Board & CEO recently bought €173k worth of stock On the 2nd of August, Rajeev Singh bought around 18k shares on-market at roughly €9.89 per share. This was the largest purchase by an insider in the last 3 months. This was Rajeev's only on-market trade for the last 12 months. Announcement • Jul 26
Accolade, Inc. Appoints Kelli Burns as Senior Vice President, Chief Information Security Officer Accolade, Inc. announced that Kelli Burns has joined the organization as senior vice president, chief information security officer. Burns, a former consultant with Ernst & Young LLP (EY US) focused on cybersecurity engagements for multiple Fortune 500 companies, will lead Accolade's information security business unit and support the overall compliance and risk management function, enhancing its information security and privacy posture to support growth and protect the trust of Accolade's customers and members. With data serving as an essential and differentiating enabler of the organization's unique navigation and clinical excellence capabilities, this role is vital to further advance Accolade's IT infrastructure and data security strategy. Named one of Cybersecurity DIVAS' "Most Influential Women in Cybersecurity", Burns is a recognized information security leader who understands the regulatory frameworks for data and privacy. Burns and her team will support Accolade's 600+ enterprise customers that represent some of the country's largest employers, including health plans and local, state and federal governments, across a range of industries and sectors. Prior to joining Accolade, Burns also held multiple positions at Symetra Financial including serving as CISO. During this time, she was pivotal in building out the cybersecurity program and enabling the business to make decisions swiftly while protecting the data of customers and employees. Expanding her leadership role beyond her technical capabilities, Burns was also the founding leader and executive sponsor for Symetra's Diversity and Inclusion Council and developed their IT Emerging Leaders enterprise program. She is well-regarded in the Seattle community for mentoring women in cybersecurity and technology. Burns holds a B.S. in Management Information Systems from the University of Montana and is currently pursuing an MBA from Penn State University. Announcement • Jul 01
Accolade, Inc. Provides Earnings Guidance for Second Quarter Ending August 31, 2022 and Fiscal Year Ending February 28, 2023 Accolade, Inc. provided earnings guidance for second quarter ending August 31, 2022 and fiscal year ending February 28, 2023. The company expects revenue between $82 million and $83.5 million.For the fiscal year ending February 28, 2023, expects revenue between $355 million and $365 million. Announcement • Jun 26
Accolade, Inc.(NasdaqGS:ACCD) dropped from Russell 2000 Growth Index Accolade, Inc.(NasdaqGS:ACCD) dropped from Russell 2000 Growth Index Announcement • Jun 25
Accolade, Inc., Annual General Meeting, Jul 26, 2022 Accolade, Inc., Annual General Meeting, Jul 26, 2022, at 10:00 US Eastern Standard Time. Agenda: To elect the three nominees for director named herein to the Accolade Board of Directors to hold office until the 2025 Annual Meeting of Stockholders; to approve, on an advisory basis, the compensation of the company’s named executive officers, as disclosed in the accompanying proxy statement; to indicate, on an advisory basis, the preferred frequency of stockholder advisory votes on the compensation of the company’s named executive officers; to ratify the selection by the Audit Committee of the Board of Directors of KPMG LLP as the independent registered public accounting firm of the company for its fiscal year ending February 28, 2023; and to conduct any other business properly brought before the meeting. Announcement • Jun 22
Accolade, Inc. to Report Q1, 2023 Results on Jun 30, 2022 Accolade, Inc. announced that they will report Q1, 2023 results After-Market on Jun 30, 2022 Reported Earnings • May 01
Full year 2022 earnings released: US$1.93 loss per share (vs US$1.73 loss in FY 2021) Full year 2022 results: US$1.93 loss per share (down from US$1.73 loss in FY 2021). Revenue: US$310.0m (up 82% from FY 2021). Net loss: US$123.1m (loss widened 143% from FY 2021). Over the next year, revenue is forecast to grow 15%, compared to a 5.9% growth forecast for the industry in Germany. Announcement • Apr 15
Accolade, Inc. to Report Q4, 2022 Results on Apr 28, 2022 Accolade, Inc. announced that they will report Q4, 2022 results After-Market on Apr 28, 2022 Announcement • Jan 12
Accolade, Inc. Provides Earnings Guidance for the Fourth Quarter, Fiscal Year Ending February 28, 2022 and Fiscal Year 2023 Accolade, Inc. provided earnings guidance for the fourth quarter, fiscal year ending February 28, 2022 and fiscal year 2023. For the quarter, The company expects revenue in the range of $90 million to $93 million, representing a year-over-year growth rate of 138% and 13% on a pro forma basis.For the year 2022, The company expects revenue in the range of $306 million to $309 million, representing 81% growth over the prior year at the midpoint and 30% on a pro forma basis.For the year 2023, The company expects project revenue will grow approximately 25% over fiscal year 2022 to about $385 million. Reported Earnings • Jan 11
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2022 results: EPS: US$0.34 (up from US$0.32 loss in 3Q 2021). Revenue: US$83.5m (up 117% from 3Q 2021). Net income: US$22.5m (up US$39.1m from 3Q 2021). Profit margin: 27% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 10.0%. Over the next year, revenue is forecast to grow 37%, compared to a 3.9% growth forecast for the industry in Germany. Reported Earnings • Oct 08
Second quarter 2022 earnings released: US$0.97 loss per share (vs US$0.47 loss in 2Q 2021) The company reported a mediocre second quarter result with increased losses and weaker control over costs, although revenues improved. Second quarter 2022 results: Revenue: US$73.3m (up 99% from 2Q 2021). Net loss: US$62.4m (loss widened 306% from 2Q 2021). Announcement • Sep 23
Accolade Introduces Personalized Healthcare Category Accolade, Inc. introduced Personalized Healthcare, a new category that enables a nationally scalable model of value-based care to meet the quadruple aim. The company also announced Accolade One and Accolade Care, new solutions that combine the company's intelligent technology and advocacy services with team-based healthcare delivery. Both announcements were made at Evolve21, Accolade's premier annual customer event. Personalized Healthcare consists of three core pillars: Personal: Enabling trusting, long-lasting relationships that result in better health outcomes by prioritizing human connection. Data driven: Delivering the right healthcare at the right time at scale requires evidence-based, data-driven decisions that leverage intelligent technology. Value based: Focusing on demonstrable health outcomes, patient and provider satisfaction, and delivering high-quality care at lower costs. Accolade announces healthcare offerings for employers. All the solutions in Accolade's portfolio meet the demands of a true Personalized Healthcare approach, while giving customers flexibility to engage Accolade as best meets their current needs. The two new solutions are: Accolade One is a value-based solution that blends world-class primary care and mental health with the capabilities of powerful care teams, expert medical opinion and clinical programs that manage the costliest chronic conditions. Other solution features include: Convenient access to primary care and mental health professionals. Integrated virtual and physical experience for members, from benefits questions and primary care treatment to brick-and-mortar facilities referrals, to close the gaps. between care episodes and empower members to receive high-quality care in the way that meets their needs. A value-based payment model where Accolade guarantees successful outcomes. Accolade Care is the first solution to seamlessly blend primary care and mental health in a collaborative care model. Accolade's multidisciplinary care teams include registered nurses, primary care physicians, health coaches, pharmacists, mental health professionals, and other clinical extenders to surround the patient and work together to treat them as a whole person who is empowered to take the next best step in their healthcare journey. Board Change • Aug 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Chairman of the Board & CEO Raj Singh was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Jul 27
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Chairman of the Board & CEO Raj Singh was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 10
First quarter 2022 earnings released: US$0.84 loss per share (vs US$1.86 loss in 1Q 2021) The company reported a mediocre first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2022 results: Revenue: US$59.5m (up 66% from 1Q 2021). Net loss: US$48.7m (loss widened 249% from 1Q 2021). Announcement • Jun 10
Accolade, Inc. (NasdaqGS:ACCD) completed the acquisition of PlushCare, Inc. Accolade, Inc. (NasdaqGS:ACCD) signed a definitive agreement to acquire PlushCare, Inc. for $450 million on April 22, 2021. Under the terms of the agreement, the purchase price of up to $450 million will consist of $40 million in cash, subject to customary adjustments for working capital, transaction expenses, cash and indebtedness, $340 million in Accolade common stock payable at closing, and up to an additional $70 million of value payable upon the achievement of defined revenue milestones following the closing. For the calendar year ended December 31, 2020, PlushCare reported unaudited revenues of approximately $35 million. The transaction is subject to customary closing conditions including antitrust regulations and is expected to close in early June 2021. The acquisition is expected to be accretive to Accolade’s growth rate. The deal reflects a EV multiple of 12.9 times PlushCare's roughly $35 million in 2020 revenue or about 10 times its projected 2021 numbers. Piper Sandler acted as the lead financial advisor in the transaction with Goldman Sachs & Co. LLC also advising Accolade. Ian Nussbaum, John Robertson and Alan Hambleton of Cooley LLP acted as legal advisor to Accolade in the transaction. David Bahk, Cameron Lester and Storm Duncan of Jefferies LLC acted as the financial advisor in the transaction advising PlushCare. Michael Esquivel, Ethan Skerry, Elizabeth Gil, Marshall Mort, Jonathan Millard, Jeremiah Oteh, Helen Christakos and Will Skinner of Fenwick & West LLP acted as legal advisor to PlushCare.
Accolade, Inc. (NasdaqGS:ACCD) completed the acquisition of PlushCare, Inc. on June 9, 2021. Executive Departure • Jun 09
Independent Chairman J. Cline has left the company On the 1st of June, J. Cline's tenure as Independent Chairman ended after 1.3 years in the role. As of March 2021, Cline still personally held 1.38m shares (€52m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 2.42 years. Executive Departure • Jun 09
Independent Director William Frist has left the company On the 1st of June, William Frist's tenure as Independent Director ended after 11.3 years in the role. As of March 2021, William still personally held 299.23k shares (€11m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 2.42 years. Reported Earnings • May 09
Full year 2021 earnings released: US$1.73 loss per share (vs US$9.13 loss in FY 2020) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2021 results: Revenue: US$170.4m (up 29% from FY 2020). Net loss: US$50.7m (loss narrowed 1.4% from FY 2020). Announcement • May 07
Accolade, Inc. Provides Earnings Guidance for the First Quarter Ending May 31, 2021 and Fiscal Year Ending February 28, 2022 Accolade, Inc. provided earnings guidance for the first quarter ending May 31, 2021 and fiscal year ending February 28, 2022. For the fiscal first quarter ending May 31, 2021, The company expects revenue between $54 million and $56 million.
For the fiscal year ending February 28, 2022, The company expects revenue between $260 million and $265 million. 
