SEATTLE (AP) — SEATTLE (AP) — Accolade, Inc. (ACCD) on Thursday reported a loss of $27.6 million in its fiscal first quarter.
The Seattle-based company said it had a loss of 35 cents per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 48 cents per share.
The company posted revenue of $110.5 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $105 million.
For the current quarter ending in August, Accolade said it expects revenue in the range of $104 million to $106 million.
The company expects full-year revenue in the range of $460 million to $475 million.
Accolade shares have declined 47% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $6.36, a decrease of 48% in the last 12 months.
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