RTTNews | Jan 11, 2022 10:19AM EST

10:18 Tuesday, January 11, 2022 (RTTNews.com) - Shares of Accolade, Inc. (ACCD) are jumping over 25% on Tuesday morning after the company reported a surprise profit for the third quarter and lifted its revenue outlook for the full year.

ACCD is currently trading at $24.08, up $4.94 or 25.78%, on the Nasdaq.

Third-quarter revenues grew to $83.45 million from $38.44 million last year. Net income for the quarter was $22.5 million or $0.31 per share, compared to a loss of $16.6 million or $0.32 per share last year.

Wall Street analysts polled by Thomson Reuters were expecting a loss of $0.74 per share on revenues of $75.89 million for the quarter.

Moving ahead, the company expects fourth-quarter revenues between $90 million and $93 million. For the fiscal year, the company lifted its revenues outlook to a range of $306 million to $309 million, up from prior estimate of $303 million to $307 million.

The company also introduces preliminary guidance for fiscal year 2023, expecting 25% growth in revenue.

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