Accolade, Inc. (NASDAQ:ACCD) Q3 2024 Earnings Call Transcript January 8, 2024 4:30 PM ET

Company Participants

Todd Friedman - SVP, IR

Rajeev Singh - CEO

Steve Barnes - CFO

Conference Call Participants

Ryan Daniels - Blair

Craig Hettenbach - Morgan Stanley

Ryan MacDonald - Needham

Jailendra Singh - Truist

Stan Berenshteyn - Wells Fargo

Jessica Tassan - Piper Sandler

Richard Close - Canaccord Genuity

Allen Lutz - Bank of America

Stephanie Davis - Barclays

Jenny Shen - BTIG

Jack Wallace - Guggenheim Partners

Operator

Good day and thank you for standing by. Welcome to the Accolade Third Quarter 2024 Earnings Results Conference Call. At this time, all participants are in listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your first speaker today, Todd Friedman, Senior Vice President of Invest Relations. Please go ahead.

Todd Friedman

Thanks, operator. Welcome everyone to our fiscal third quarter earnings call. With me on the call today are our Chief Executive Officer, Rajeev Singh, and our Chief Financial Officer, Steve Barnes. Shantanu Nundy, our Chief Health Officer, will join for the question-and-answer portion of the call.

Before turning the call over to Rajeev, please note that we'll be discussing certain non-GAAP financial measures that we believe are important when evaluating Accolade's performance. Details on the relationship between these non-GAAP measures to the most comparable GAAP measures and the reconciliation thereof can be found in the press release that is posted on our website. Also, please note that certain statements made during the call will be forward-looking statements as defined by the Private Securities and Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties and other factors that could cause the actual results for Accolade to differ materially from those expressed or implied on this call. For additional information, please refer to our cautionary statement in our press release and our filings with the SEC, all of which are available on our website.

With that, I will turn the call over to our CEO, Rajeev Singh.

Rajeev Singh

Thank you, Todd. I'll begin by summarizing the four key themes to my prepared remarks today. One, we had an excellent quarter on both the top and bottom line and we're raising guidance for the year as a whole. Two, we're reaffirming our outlook for our next fiscal year. It will be our first profitable year as a company while continuing to grow our revenue at 20% per year. Three, our strategy has yielded sustainable market differentiation, which in turn has led to yet another year of strong bookings growth and incredible opportunities for growth inside of our customer base. And four, based on the strength of that sustainable differentiation, we're raising our profitability guidance on our five-year outlook. By all accounts, Q3 was another successful quarter for Accolade. We're well positioned to execute on our long-term objective to build a great and enduring company important to the future of American healthcare.