Shares of the personalized healthcare company, Accolade (NASDAQ: ACCD) were on an upswing in pre-market trading at the time of writing on Friday as the company’s Q1 losses narrowed to $0.52 per share as compared to $4.92 per share in the same period last year while analysts were expecting the company to report a loss of $0.56 per share.
The company posted revenues of $93.2 million in Q1, up by 9% year-over-year as compared to consensus estimates of $93.4 million.
Looking forward, ACCD expects fiscal Q2 revenues between $93 million and $95 million while adjusted EBITDA is likely to be in the range of a loss of $11 million and $14 million. In FY24, the company has projected revenues between $410 million and $414 million while adjusted EBITDA is projected to be from a loss of $6 million and $12 million.
Analysts are cautiously optimistic about ACCD stock with a Moderate Buy consensus rating based on nine Buys and five Holds.
