Accolade S-1

  • The total annual employer cost for healthcare is estimated at more than $10,000 per employee. Over the past five years, this cost has increased roughly 6% per year and is expected to continue to grow at that rate.
  • The product is a software based health care concierge. Accolade aims to provide employees and their families (our “members”) a single place to turn for their health, healthcare, and benefits needs.
  • While this is not surprising, more people engage when they have a larger spend. Over the last three years they have averaged approximately four encounters per year with member families for whom their employer incurs less than $2,500 in claims spend in a given year and approximately 16 encounters per year with member families for whom their employer spends $50,000.
  • Accolade’s primary offering was shown to reduce claims costs by $500-$750 per employee per year.
  • Accolade has just 53 customers with more than 1.5 million members (employees of the customer)
  • Comcast, Lowes and United Airlines constitute 60% of their revenue for the fiscal year ended 2019. Comcast Cable alone accounted for 35%.
  • Comcast was an early investor in the company through Comcast Ventures and holds more than 5% of the shares.
  • The CEO Rajeev Singh was issued 8,000,000 options with a strike price of $0.84, today the stock price is $32.
  • In 2019 they had revenues of $95M with a net loss of $56M

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askelkar

askelkar

An observer at the crossroads of technology, economics & investing.

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