Accolade Investor Presentation Deck
32
Adjusted Operating Expense Reconciliation
($ in thousands)
Fiscal year ended February 28 (29),
Revenue
Operating Expenses
Less:
Depreciation and amortization
Stock-based compensation
Acquisition, integration-related costs and
other
Goodwill Impairment
Change in fair value of contingent
consideration
Severance costs
Adjusted Operating Expenses
Adjusted Operating Expenses as a % of Revenue
*Please refer to page 29 for important information regarding non-GAAP financial measures
2019
$ 94,811
88,220
(9,391)
(5,466)
1 1
$ 73,363
77%
2020
$ 132,507
107,026
(8,516)
(5,684)
(567)
$ 92,259
70%
2021
$ 170,358
123,462
(8,212)
(8,628)
(2,050)
$ 104,572
61%
2022
$ 310,021
266,727
(42,608)
(69,742)
(13,219)
45,416
$ 186,574
60%
2023
$363,142
627,751
(46,377)
(67,850)
(1,218)
(299,705)
(6,040)
$206,561
57%View entire presentation