How much of Accolade’s revenue comes from haram?

Accolade offers cloud-based technology and health care support services to help employees understand their workplace benefits and connect them with health care professionals. 

Accolade also offers second opinion consultation services from clinicians such as registered nurses, physician medical directors, pharmacists, behavioral health specialists, and women’s health specialists.

Accolade does not currently provide medical care or establish patient relationships with their customers.

Accolade entered a definitive agreement to acquire PlushCare, a provider of virtual primary care and mental health treatment, in April 2021 to offer direct medical care to their customers.

Practical Islamic Finance concludes:

None of Accolade’s revenue comes from anything inherently haram.

Does Accolade rely on interest to operate?

Accolade reports its Interest Income & Expenses as a net value.

According to the company’s annual report for the fiscal year ended February 28, 2021 (Numbers in thousands, U.S. dollars):

Interest Expense (net): $3,724

Total Expenses: $217,135

Interest Expense / Total Expense: 1.72%

Practical Islamic Finance concludes:

Riba is used but not relied upon in Accolade’s operations.

What is Accolade’s Environmental, Social, and Governance (ESG) impact?

Environment

Accolade states 95% of their industrial properties currently use energy from renewable sources.

Social

Accolade has an average Glassdoor rating of 3.4 out of 5.0 from over 300 current and previous employees compared to a 3.3 average for all other Glassdoor rated companies.

Governance

No notable governance highlights.

Practical Islamic Finance concludes:

Accolade has a net positive ESG impact.

Comfort Rating

From Accolade’s business, financial, and ESG reviews, Practical Islamic Finance rates Accolade as:

Comfortable to invest in from a Halal perspective.

Sources

FORM 10-K ACCOLADE, INC. 

Accolade Reviews 

ACCOLADE ESG STRATEGY