Accolade (NASDAQ:ACCD) shares jumped more than 8% intra-day today after the company reported its Q1 earnings results, with EPS of ($0.52) coming in above the Street estimate of ($0.62). Revenue was $93.2 million, beating the Street estimate of $90.27 million.

The company sees Q2/24 revenue to be in the range of $93-$95 million, compared to the Street estimate of $93 million. For the full year, the company expects revenue in the range of $410-$414 million, compared to the Street estimate of $410 million.

In response to the company’s strong performance in the latest quarter, BofA Securities emphasized the continued emphasis on multi-year growth. The analysts pointed out that the updated guidance midpoint surpasses both their estimates and the consensus. Although gross margin in the quarter fell below expectations, the analysts anticipate improvements in margins as the year progresses.