SEATTLE (AP) — SEATTLE (AP) — Accolade, Inc. (ACCD) on Thursday reported a loss of $7.5 million in its fiscal fourth quarter.
The Seattle-based company said it had a loss of 10 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share.
The company posted revenue of $124.8 million in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $124 million.
For the year, the company reported that its loss narrowed to $99.8 million, or $1.33 per share. Revenue was reported as $414.3 million.
For the current quarter ending in May, Accolade said it expects revenue in the range of $103 million to $106 million.
The company expects full-year revenue in the range of $480 million to $500 million.
Accolade shares have declined 24% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.16, a decrease of 43% in the last 12 months.
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