Item 8.01. Other Events. Item 8.01. Other Events.
Reiterates guidance for the fiscal fourth quarter ending
? revenue between
million and
? Reiterates revenue guidance for the fiscal year ending
approximately
Expects to provide meaningful improvement to its guidance for Adjusted EBITDA
? for the fiscal year ending
27, 2023.
The above-referenced steps include accelerating the integration of recent acquisitions by identifying synergies and implementing strategic reductions in Accolade's workforce. Additionally, the Company has evaluated its office footprint, closed or reduced certain satellite facilities, and has undertaken a strategy of relocating certain non-customer-facing roles to office locations that offer high quality skill sets and lower cost workforces. With these steps, we expect to create operating efficiencies and streamline decision-making to deliver customer support and innovation more quickly. Accolade plans to continue to hire personnel to support its service capacity needs and growth expectations.
This Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding the impact of our strategic steps to reduce costs and accelerate our path to profitability, as well as our future growth and financial outlook. Forward-looking statements are based only on currently available information and are subject to risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Important risks and uncertainties that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the risks described under the heading "Risk Factors" in Accolade's most recently filed Annual Report on Form 10-K and subsequent filings, which should be read in conjunction with any forward-looking statements. Accolade does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.
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