Accolade (ACCD) Reports Q1 Loss, Tops Revenue Estimates

Group 1 - Accolade reported a quarterly loss of $0.35 per share, better than the Zacks Consensus Estimate of a loss of $0.48, and improved from a loss of $0.52 per share a year ago, indicating an earnings surprise of 27.08% [1] - The company generated revenues of $110.47 million for the quarter ended May 2024, exceeding the Zacks Consensus Estimate by 5.20%, and up from $93.23 million in the same quarter last year [1] - Accolade has surpassed consensus EPS estimates and revenue estimates four times over the last four quarters [1] Group 2 - Accolade shares have declined approximately 49% since the beginning of the year, contrasting with the S&P 500's gain of 14.9% [2] - The company's earnings outlook, including current consensus earnings expectations for upcoming quarters, will be crucial for investors [2] - The estimate revisions trend for Accolade is currently favorable, resulting in a Zacks Rank 2 (Buy) for the stock, suggesting expected outperformance in the near future [3] Group 3 - The current consensus EPS estimate for the upcoming quarter is -$0.44 on revenues of $112.94 million, and for the current fiscal year, it is -$1.23 on revenues of $490.58 million [4] - The Technology Services industry, to which Accolade belongs, is currently ranked in the top 23% of over 250 Zacks industries, indicating a favorable outlook [4]