0001047469-20-005230 | S-1 | XBRL Viewer

Acquisition of MD Insider (MDI)

(4) Acquisition of MD Insider

On July 31, 2019, the Company acquired the outstanding equity interests of MDI. Based in California, MDI is a provider of machine learning-enabled physician performance transparency. The aggregate purchase price consideration of $6,488 was paid primarily through the issuance of up to 462,691 shares of the Company’s common stock, of which 386,339 and 289,320 were issued as of August 31, 2020 and February 29, 2020, respectively, with the remaining shares issuable subject to certain working capital and indemnity adjustments (if applicable). Shareholders were eligible to receive 100,607 additional shares of the Company’s common stock upon the completion of a platform solution, as defined in the purchase agreement (MDI Earnout). The deadline to complete the cost transparency platform solution in order to qualify for the MDI Earnout was initially March 1, 2020, and was subsequently extended to July 1, 2020, by which time it had been earned. During August 2020, the Company issued 96,487 shares of common stock in connection with the MDI Earnout, with the remaining 4,120 shares of common stock expected to be issued during the remainder of fiscal 2021. The MDI Earnout was accounted for as an equity classified instrument and is not subject to remeasurement in subsequent periods.

(3) Acquisition of MD Insider (MDI)


Consideration Paid
Cash consideration	$	324
Fair value of equity issued		5,114
Fair value of contingent consideration		1,050
Total consideration paid	$	6,488

The aggregate purchase price consideration of $6,488 was paid primarily through the issuance of up to 462,691 shares of the Company’s common stock, of which 289,320 were issued as of February 29, 2020, with the remaining shares issuable subject to certain working capital and indemnity adjustments (if applicable). Shareholders are eligible to receive 100,607 additional shares of the Company’s common stock upon the completion of a platform solution, as defined in the purchase agreement (MDI Earnout). The deadline to complete the cost transparency platform solution in order to qualify for the MDI Earnout was initially March 1, 2020, and was subsequently extended to July 1, 2020. The estimated fair value of the Company’s common stock and MDI Earnout was $5,114 and $1,050, respectively. The MDI Earnout is accounted for as an equity classified instrument and is not subject to remeasurement in subsequent periods.

The Company incurred a total of $567 in acquisition related costs that were expensed immediately and recorded in the Company’s consolidated statement of operations for the fiscal year ended February 29, 2020. The acquisition was not significant to the Company’s consolidated financial statements; therefore, pro forma results of the operations related to this business acquisition for the fiscal year ended February 29, 2020, have not been presented. The results of MDI’s

operations since July 31, 2019 have been included in the Company’s consolidated financial statements. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition:


Assets acquired:
Cash and cash equivalents	$	118
Accounts receivable		98
Prepaid expenses		5
Goodwill		4,013
Intangible assets		2,900
Other assets		17
Total assets acquired	$	7,151
Liabilities assumed:
Accounts payable	$	321
Accrued expenses and other current liabilities		342
Total liabilities assumed	$	663
Net assets acquired	$	6,488

The purchase price was allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date. The identifiable intangible asset principally relates to technology and is subject to amortization on a straight-line basis over two years. During the fiscal year ended February 29, 2020, the Company recorded amortization expense of $846.

The intangible asset was valued using the estimated replacement cost method. This method requires several judgments and assumptions to determine the fair value of the intangible asset, including expected profits and opportunity costs. Goodwill related to the acquisition is attributable to the workforce of MDI as well as the expected future growth into new and existing markets and is not deductible for income tax purposes.

Property and Equipment

12 Months Ended

Feb. 29, 2020

Property and Equipment

Property and Equipment

(4) Property and Equipment

Property and equipment consisted of the following:


	February 28/29,
	2019		2020
Capitalized software development costs	$	32,862	$	35,867
Computer software		10,275		8,829
Computer equipment		7,828		9,383
Office equipment, furniture, and leasehold improvements		8,012		8,903
Office equipment and furniture under capital leases		1,252		1,251
		60,229		64,233
Less accumulated depreciation		(44,955)		(50,608)
Total	$	15,274	$	13,625

Depreciation and amortization expense was $9,391 and $7,670 for the fiscal years ended February 28, 2019 and February 29, 2020, respectively. During the fiscal year ended February 29, 2020, the Company accelerated depreciation in the amount of $1,634 related to the retirement of software. Also, during 2020 the Company wrote off $680 of leasehold improvements and furniture/fixtures related to the termination of the Seattle lease (see note 13), resulting in a loss on disposal of $299.

Accrued Expenses and Accrued Compensation

12 Months Ended

Feb. 29, 2020

Accrued Expenses and Accrued Compensation

Accrued Expenses and Accrued Compensation

(5) Accrued Expenses and Accrued Compensation

Accrued expenses consisted of the following:


	February 28/29,
	2019		2020
Accrued professional and consulting fees	$	755	$	3,375
Accrued software, hardware, and communication costs		154		228
Accrued litigation matter		1,100		1,100
Accrued taxes		335		512
Accrued other		796		1,365
Total	$	3,140	$	6,580

See note 13 discussion regarding accrued litigation matter.

Included in accrued compensation is $5,884 of accrued bonus expense related to bonuses earned during the fiscal year ended February 29, 2020. This bonus amount will be settled in June 2020 through the issuance of fully vested stock options exercisable into shares of the Company’s common stock. The Company determined the amount of stock options to be issued by taking the cash bonus earned divided by the fair value of the Company’s common stock at May 31, 2020, which was $17.50. The Company then used the Black Scholes methodology to determine the fair value of the stock options granted, which resulted in a grant-date fair value of $10.88 per stock option. The fair value of the stock options issued was determined using an estimated fair value of common stock based upon a third party valuation, expected volatility of 78.4%, expected term of 5.0 years, and risk-free interest rate of 0.3%.

Accrued compensation includes $4,905 of payroll withholding taxes payable related to the exercise of nonqualified stock options during the fiscal year ended February 29, 2020. The Company has a corresponding receivable for the same amount, which is classified in prepaid and other current assets in the Company’s consolidated balance sheet at February 29, 2020.

Fair Value Measurements

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Fair Value Measurements

(5) Fair Value Measurements

The following table sets forth the fair value of the Company’s financial assets and within the fair value hierarchy:


	Level 1		Level 2		Level 3		Fair Value
Assets
Cash equivalents:
Money market funds	$	21,332	$	—	$	—	$	21,332
Certificates of deposit	$	5,000	$	—	$	—	$	5,000

	Level 1		Level 2		Level 3		Fair Value
Assets
Cash equivalents:
Money market funds	$	212,221	$	—	$	—	$	212,221

Also, the carrying value of the Company’s debt approximates fair value based on interest rates available for debt with similar terms at February 29, 2020.

(6) Fair Value Measurements

The following table sets forth the fair value of the Company’s financial assets and within the fair value hierarchy:


	February 28, 2019
	Level 1		Level 2		Level 3		Fair Value
Assets
Cash equivalents:
Money market funds	$	28,661	$	—	$	—	$	28,661


	February 29, 2020
	Level 1		Level 2		Level 3		Fair Value
Assets
Cash equivalents:
Money market funds	$	21,332	$	—	$	—	$	21,332

Also, the carrying value of the Company’s debt approximates fair value based on interest rates available for debt with similar terms at February 28, 2019 and February 29, 2020.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Debt Facility

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Debt Facility

(6) Debt Facility

(a) Term Loan and Revolving Credit Facility

Term Loan

On January 30, 2017, the Company entered into a $20,000 term loan facility (the Term Loan). Under the terms of the Term Loan, the Company was permitted to borrow up to an aggregate principal amount of $20,000, with the total amount of available borrowings subject to certain monthly recurring revenue calculations.

Interest on the outstanding balance was payable monthly at a rate of 11.75%. Principal payments were scheduled to be made monthly beginning January 31, 2019, in equal installments calculated as 1/24th of the outstanding balance on December 31, 2018. However, the Company had the ability to extend the interest-only period for an additional twelve months, subject to an additional fee and other conditions, which would extend the maturity date from December 31, 2020 to December 31, 2021. The Company committed to extend this interest-only period, and the maturity date was extended to December 31, 2021. As a result, principal payments were scheduled to start January 2020. During July 2019, an amendment (Amendment 1) was entered into which eliminated monthly payments, with principal to be paid in full in December 2022.

Amendment 1 resulted in an additional $2,000 of availability, increasing total availability to $22,000. Pursuant to the Amendment 1, interest on the outstanding balance was payable monthly at a rate of 10.00% per annum and interest payable-in-kind accrued at a rate of 2.00% per annum, compounded monthly, and was due at maturity. Additionally, the Company was required to pay an exit fee equal to 1% of the aggregate principal borrowings at the time of maturity (end of term charge).

During May 2020, the Company entered into an additional amendment (Amendment 2) to the existing Term Loan agreement, which resulted in an additional $2,500 of availability, increasing total availability to $24,500. Pursuant to Amendment 2, interest on the outstanding balance was payable monthly at a rate of 8.00% per annum and interest payable-in-kind accrued at a rate of 4.50% per annum, compounded monthly, and was due at maturity. Additionally, the Company was required to pay a prepayment fee equal to 2% of the aggregate principal borrowings if prepayment occurred on or prior to December 31, 2020, and 0.50% if prepayment occurred after December 31, 2020 but on or prior to maturity (prepayment fee), plus the end of term charge. Amendment 2 was accounted for as a debt modification, and all new lender fees were recorded as additional debt discount and third-party costs incurred in connection with the amendment were expensed as incurred.

During July 2020 the Company terminated the Term Loan. The Company repaid the outstanding balance of $24,500 in its entirety, along with accrued interest in kind of $600, the end of term charge of $251, and the prepayment fee of $502.

During the three months ended August 31, 2020 and 2019, the Company recorded interest expense of $2,043 and $647, respectively. Included in interest expense for the three months ended August 31, 2020, was $1,045 related to the remaining debt discount that was recorded as interest expense as a result of the termination, as well as $502 related to the prepayment fee and the remaining unamortized amount related to the end of term charge. During the six months ended August 31, 2020 and 2019, the Company recorded interest expense of $2,837 and $1,316, respectively.

Revolving Credit Facility

During July 2019, the Company entered into a revolving credit facility (the 2019 Revolver) with a syndicate of two banks. Under the 2019 Revolver, the Company has the capacity to borrow up to $50,000 on a revolving facility, and

(6) Debt Facility (Continued)

to the extent certain customer bookings thresholds are achieved, the capacity on the 2019 Revolver may increase by an additional amount of up to $30,000 (resulting in total potential availability of $80,000). Availability of borrowings on the 2019 Revolver is calculated as a multiple of the Company’s eligible monthly recurring revenues (as defined in the 2019 Revolver). As of August 31, 2020 and February 29, 2020, the Company had outstanding letters of credit to serve as office landlord security deposits in the amount of $1,334. These letters of credit are secured through the revolving credit facility, thus reducing the capacity of the revolving credit facility to $48,666 as of August 31, 2020. No amounts are outstanding as of August 31, 2020.

The 2019 Revolver has a term of 24 months, and there is an automatic extension of an additional 12-month period should the Company achieve certain revenues, as defined. The interest rate on the outstanding borrowings are at LIBOR plus 350 basis points or Base Rate (as defined) plus 250 basis points, with the LIBOR rate and Base Rate subject to minimum levels. Interest payments are to be made in installments of one, two, or three months as chosen by the Company.

The 2019 Revolver was accounted for as a debt modification to which all new lender and third-party fees were deferred. Issuance costs of $543, including the fair value of warrants issued, were capitalized and are being amortized to interest expense over the remainder of the 2019 Revolver term. During the three months ended August 31, 2020 and 2019, the Company recorded interest expense of $323 and $65, respectively, related to the revolving credit facility. During the six months ended August 31, 2020 and 2019, the Company recorded interest expense of $880 and $71, respectively. As of August 31, 2020 and 2019, the balance of deferred financing fees was $233 and $512, respectively, and is recorded in other assets in the accompanying consolidated balance sheets.

On August 21, 2020, the Company entered into an amendment to the 2019 Revolver which revised the terms of the revenue covenant and imposed minimum LIBOR and Base Rate levels. On September 11, 2020, the Company entered into another amendment to the 2019 Revolver which modified the amount of cash required to be held at each of the two lenders participating in the 2019 Revolver.

The 2019 Revolver is collateralized by substantially all of the assets of the Company.

Current and long-term debt consisted of the following at February 29, 2020:


	February 29, 2020

Current - Interest payable – 2019 Revolver	$	—
Long-term
2019 Revolver	$	—
Term loan - principal outstanding	$	22,000
Interest payable-in-kind		273
Unamortized issuance costs		(1,129)
Total long-term	$	21,144

(7) Debt Facility

(a)Term Loan and Revolving Credit Facility

Term Loan

On January 30, 2017, the Company entered into two debt facilities, one of which was a $20,000 term loan (the Term Loan) and the other a $20,000 revolving credit facility (the 2017 Revolver).

During July 2019, the Company amended the Term Loan, terminated the 2017 Revolver and entered into a new revolving credit facility (the 2019 Revolver). In connection with the July 2019 transactions, the Company issued warrants to purchase up to 135,594 shares of the Company’s common stock.

Under the terms of the Term Loan, the Company was permitted to borrow up to an aggregate principal amount of $20,000, with the total amount of available borrowings subject to certain monthly recurring revenue calculations. As of February 28, 2019, there was $20,000 outstanding on the Term Loan.

Interest on the outstanding balance was payable monthly at a rate of 11.75%. Principal payments were scheduled to be made monthly beginning January 31, 2019, in equal installments calculated as 1/24th of the outstanding balance on December 31, 2018. However, the Company had the ability to extend the interest only period for an additional twelve months, subject to an additional fee and other conditions, which would extend the maturity date from December 31, 2020 to December 31, 2021. The Company committed to extend this interest only period, and the maturity date was extended to December 31, 2021. As a result, principal payments were scheduled to start January 2020. During July 2019, an amendment was entered into which eliminated monthly payments, with principal to be paid in full in December 2022.

The Term Loan also provided for the issuance of a warrant to purchase 43,542 shares of the Company’s common stock (the Term Loan Warrant) at an exercise price of $0.005 per share. The Term Loan Warrant vested 100% upon issuance and has a ten-year term, ending January 30, 2027. The Company calculated the fair value of the Term Loan Warrant using the Black-Scholes option pricing model, and the fair value of the Term Loan Warrant was determined to be $182. This amount was recorded as a debt discount and was being amortized ratably over the Term Loan period.

Also, the Company incurred issuance and other third-party costs of $429 related to the Term Loan, which were recorded as a debt discount and are being amortized ratably over the term of the Term Loan.

During July 2019, the Company amended the existing Term Loan agreement, which resulted in an additional $2,000 of availability, increasing total availability to $22,000. As of February 29, 2020, the outstanding borrowings under the Term Loan were $22,000. Pursuant to the amendment, interest on the outstanding balance is payable monthly at a rate of 10.00% per annum and interest payable-in-kind accrues at a rate of 2.00% per annum, compounded monthly, and is due at maturity. Additionally, the Company is required to pay an exit fee equal to 1% of the aggregate principal borrowings at the time of maturity (end of term charge). As of February 29, 2020, there was $273 of accrued interest payable-in-kind. All outstanding principal, unpaid interest and interest payable-in-kind are due at maturity.

The amendment was accounted for as a debt modification, and all new lender fees were recorded as additional debt discount and third-party costs incurred in connection with the amendment were expensed as incurred. Debt issuance costs of $634, including the fair value of the warrants and end of term charge, were capitalized and are being amortized to interest expense over the remainder of the term using the effective interest method. During the fiscal years ended February 28, 2019 and February 29, 2020, the Company recorded interest expense of $2,844 and $2,858, respectively, related to the Term Loan of which $291 and $280, respectively, related to the amortization of the debt discount.

Long-term debt consisted of the following at February 28, 2019 and February 29, 2020:


	February 28,		February 29,
	2019		2020
Principal outstanding	$	20,000	$	22,000
Interest payable‑in‑kind		—		273
Unamortized issuance costs		(800)		(1,129)
	$	19,200	$	21,144

During May 2020, the Company amended the Term Loan agreement, which resulted in additional borrowing availability of $2,500, all of which was drawn down at the time of execution of such amendment.

Revolving Credit Facility

The 2017 Revolver was a 24-month senior secured $20,000 revolving line of credit, with borrowing availability subject to certain monthly recurring revenue calculations. On April 20, 2018, the Company amended the 2017 Revolver, which modified the revenue covenants, required the Company to exercise the extension of the interest only payment period of the Term Loan through December 2019 and in the event the Company raised proceeds in the aggregate of at least $45,000 as part of a financing event, extended the term of the 2017 Revolver to January 30, 2020. This financing event occurred, and, accordingly, the term of the 2017 Revolver was extended. As of February 28, 2019, there was no amount outstanding under the 2017 Revolver.

Interest on the outstanding balance of the 2017 Revolver was due monthly at a rate of the lending institution’s prime referenced rate plus 1.00%, with the prime reference rate defined as the greater of (i) the lending institution’s prime rate and (ii) the 30-day LIBOR plus 2.50%. Principal and interest were due at maturity.

The 2017 Revolver provided for the Company to issue warrants to purchase up to 22,288 shares of the Company’s Common Stock (the 2017 Revolver Warrants), of which a warrant to purchase 11,144 shares was issued on January 30, 2017, and a warrant to purchase 11,144 shares was issued on January 30, 2018.

The Company incurred issuance and other third-party costs of $61 related to the 2017 Revolver, which were deferred and were being amortized ratably over the term of the 2017 Revolver.

During July 2019, the Company terminated the 2017 Revolver and entered into a new revolving credit facility (the 2019 Revolver) with a syndicate of two banks, of which one was the lender under the 2017 Revolver. Under the 2019 Revolver, the Company has the capacity to borrow up to $50,000 on a revolving facility, and to the extent certain customer bookings thresholds are achieved, the capacity on the 2019 Revolver may increase by an additional amount of up to $30,000 (resulting in total potential availability of $80,000). Availability of borrowings on the 2019 Revolver is calculated as a multiple of the Company’s eligible monthly recurring revenues (as defined in the 2019 Revolver). As of February 29, 2020, the Company had outstanding letters of credit to serve as office landlord security deposits in the amount of $1,334. These letters of credit are secured through the revolving credit facility, thus reducing the capacity of the revolving credit facility at February 29, 2020 to $48,666. During March 2020, the Company borrowed this remaining capacity in its entirety to increase the Company’s cash position given the uncertainty in the overall business environment due to the COVID-19 pandemic.

The 2019 Revolver was accounted for as a debt modification to which all new lender and third-party fees were deferred. Issuance costs of $543, including the fair value of the warrants, were capitalized and are being amortized to interest expense over the remainder of the 2019 Revolver term. During the fiscal years ended February 28, 2019 and February 29, 2020, the Company recorded interest expense of $72 and $273, respectively, related to the revolving credit

facility of which $31 and $195, respectively, related to the amortization of deferred financing fees. As of February 28, 2019 and February 29, 2020, the balance of deferred financing fees was $23 and $372, respectively, and is recorded in other assets in the accompanying consolidated balance sheets.

Both the Term Loan and 2019 Revolver are collateralized by substantially all of the assets of the Company.

Stockholders' Equity

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Stockholders' Equity

(7) Stockholders’ Equity

(a) Common Stock

The Company closed its IPO on July 7, 2020 and filed an amended and restated certificate of incorporation authorizing the issuance of up to 500,000,000 shares of common stock, par value $0.0001 per share.

(7) Stockholders’ Equity (Continued)

Upon completion of the IPO, the Company issued and sold 11,526,134 shares of common stock at an issuance price of $22.00 per share resulting in net proceeds of $231,229, after deducting underwriting discounts, commissions and offering costs. In addition, all outstanding shares of Convertible Preferred stock converted into 29,479,521 shares of common stock and the Company issued 1,401,836 shares of common stock as a result of the automatic net exercise of warrants (See Note 8).

(b) Convertible Preferred Stock

On July 7, 2020, upon the closing of our IPO, all shares of our outstanding convertible preferred stock converted into 29,479,521 shares of common stock. As of August 31, 2020, there were no shares of convertible preferred stock issued and outstanding.

(8) Stockholders’ Equity

(a)Convertible Preferred Stock

As of February 29, 2020, the authorized, issued and outstanding convertible preferred stock and their principal terms were as follows:


			Shares	Issued and	Carrying		Liquidation
Series	Par value		authorized	outstanding	amount		value
A‑1	$	0.0001	3,560,000	3,559,995	$	10,000	$	10,000
A‑2		0.0001	2,579,999	2,579,994		10,000		10,000
B		0.0001	4,058,736	4,058,731		16,944		16,944
C		0.0001	601,160	601,151		7,000		7,000
D		0.0001	1,751,874	1,751,871		30,000		30,000
E		0.0001	6,089,189	6,089,159		140,720		145,300
F		0.0001	873,038	873,038		18,358		20,000
			19,513,996	19,513,939	$	233,022	$	239,244

During March 2018, the Company amended its Certificate of Incorporation to allow for additional Series E shares and issued 2,095,365 shares at $23.86195 per share during the period March through July 2018. The sales resulted in aggregate net cash proceeds of $49,933, after deducting $67 of issuance costs. In connection with this issuance, the Company issued warrants to purchase 541,159 shares of the Company’s common stock. The warrants have an exercise price of $0.0005 per share and a term of ten years. The Company calculated the issuance date fair value of the warrants using the Black-Scholes valuation methodology, which resulted in a fair value of $2,387. Accordingly, the Company allocated the proceeds from the Series E preferred stock, on a relative fair value basis, resulting in $2,279 allocated to the warrants during the fiscal year ended February 28, 2019.

During October 2019, the Company amended its Certificate of Incorporation to allow for the issuance of Series F preferred stock and issued 873,038 shares at $22.9085 per share, resulting in net cash proceeds of $19,943, after deducting $57 of issuance costs. In connection with this issuance, the Company issued a warrant to purchase 85,000 shares of the Company’s common stock. The warrant has an exercise price of $0.0005 per share and a term of ten years. The Company calculated the issuance date fair value of the warrant using the Black-Scholes valuation methodology, which resulted in an approximate fair value of $1,590. Accordingly, the Company allocated the proceeds and associated issuance costs from the Series F preferred stock, on a relative fair value basis, resulting in $1,585 and $18,358 allocated to the warrant and to the Series F preferred stock, respectively, during year ended February 29, 2020. Also, concurrently with the Series F preferred stock issuance, the Company entered into a partnership with the Series F holder under which the Company’s products will be marketed and sold by the Series F holder as part of the Series F holder’s broader product offerings.

The preferred stock is convertible, at the option of the holder, at any time, into fully paid and nonassessable shares of common stock. The number of shares of common stock into which each share of preferred stock may be converted is determined by dividing the original issue price by the conversion price in effect on the date that the holder elects to convert the shares of preferred stock. The initial conversion price is equal to the original issue price. For the Series A through Series E preferred stock, in connection with an initial public offering of securities, immediately prior to the public offering, the preferred stockholders will receive for each share of preferred stock held a number of shares of common stock as is determined by dividing the preference amount (discussed below) by the price per common share in the public offering. These shares are in addition to shares of common stock otherwise issuable upon conversion of the preferred stock.

Each share shall automatically be converted into shares of common stock upon the earlier of (i) the consummation of a firm commitment underwritten public offering of common stock (or common stock of successor corporation) at a public offering price of not less than $47.7239 (adjusted for any recapitalization) resulting in net proceeds to the Company (or successor corporation) of not less than $75,000, and listed on a national securities exchange or traded on the NASDAQ or (ii) the date specified by the written consent of the requisite preferred stockholders. The preferred stockholders have elected to convert their shares to common stock in connection with this offering.

No dividend shall be declared or paid on any shares of any other series or class of shares of the Company unless and until such distribution is also ratably declared and paid on all of the outstanding preferred stock (based on as-if converted amounts) at the same time as such distribution is paid on such other equity interests. No dividends have been declared or paid through February 29, 2020.

In the event of any liquidation, dissolution, or winding up of the Company, either voluntarily or involuntarily and in the event of a sale of the Company, as defined, the holders of the preferred stock shall be entitled to receive, prior and in preference to any distribution of any of the assets or funds of the Company to holders of the shares of common stock or any other shares by reason of their ownership of such shares, for each share of preferred stock the sum of (i) the original purchase price paid per each share of preferred stock (as adjusted for any stock dividends, combinations, splits, recapitalizations, and similar events) plus (ii) the amount of all accrued but unpaid dividends as discussed above (the sum is referred to as the preference amount). In the event the assets of the Company are not sufficient to distribute such amounts, each holder will receive their pro rata share of amounts available to be distributed. After full payment of the preference amount has been made to the holders of the Series A-1, A-2, B, C, D, and E preferred stock as described above, the holders of the common stock and the Series A-1, A-2, B, C, D, and E preferred stock shall be entitled to share ratably in all remaining assets and funds, if any, based upon the number of shares of common stock then held with each share of Series A-1, A-2, B, C, D, and E preferred stock treated as holding the number of shares of common stock into which such shares of Series A-1, A-2, B, C, D, and E preferred stock are then convertible.

The preferred stockholders have the right to one vote for each share of common stock into which their preferred stock could then be converted.

The preferred stock is subject to redemption under certain deemed liquidation events, as defined in the Company’s charter, and as such, the preferred stock is considered contingently redeemable for accounting purposes.

Stock Options and Warrants

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Stock Options and Warrants

(8) Equity-based Compensation and Warrants

(a) Stock Options

In July 2020, the Company adopted the 2020 Equity Incentive Plan (the Incentive Plan), which authorized the Company to grant up to 4,300,000 shares of common stock to eligible employees, directors, and consultants to the Company in the form of stock options, restricted stock units, and other various equity awards, including any shares subject to stock options or other awards granted under the Company’s prior stock option plan that expire or terminate for any reason (other than being exercised in full) or are cancelled in accordance with the terms of the prior stock option plan. The Incentive Plan also includes an annual evergreen increase, and the amount, terms of grants, and exercisability provisions are determined by the board of directors. The term of an award may be up to 10 years and options generally vest over four years, with one quarter of an award vesting one year after grant and the remainder vesting on a monthly basis over three years. As of August 31, 2020, there were 3,981,071 shares of common stock available for future grants under the Incentive Plan.

In July 2020, the Board of Directors adopted the Company’s 2020 Employee Stock Purchase Plan (the ESPP), which became effective immediately prior to the effectiveness of the registration statement for the Company’s IPO. The total shares of common stock initially reserved under the ESPP is limited to 1,100,000 shares. There was no activity during the second fiscal quarter ended August 31, 2020.

The following table summarizes the amount of stock-based compensation included in the consolidated statements of operations:


	2019		2020		2019		2020
Cost of revenue	$	103	$	218	$	175	$	327
Product and technology		491		718		852		1,152
Sales and marketing		475		490		822		792
General and administrative		826		679		1,482		1,093
Total stock-based compensation	$	1,895	$	2,105	$	3,331	$	3,364

(8) Equity-based Compensation and Warrants (Continued)

The following is a summary of stock option activity under the Incentive Plan:


		Weighted		Weighted
		average		remaining		Aggregate
		exercise		contractual life		intrinsic
	Stock Options	price		in years		value
Balance, February 29, 2020	7,996,056	$	6.19
Granted	2,149,575		17.25
Exercised	(571,382)		4.42
Forfeited	(147,684)		6.12
Balance, August 31, 2020	9,426,565	$	8.82	7.4	years	$	223,660
Vested and expected to vest as of August 31, 2020	9,426,565	$	8.82	7.4	years	$	223,660
Exercisable as of August 31, 2020	5,499,412	$	6.19	6.3	years	$	150,792

The aggregate intrinsic value of stock options exercised was $5,676 and $7,806 for the three and six months ended August 31, 2020, respectively. As of August 31, 2020, approximately $27,203 of unrecognized compensation expense related to our stock options is expected to be recognized over a weighted average period of 2.2 years.

During June 2020, the Company issued 525,907 fully-vested stock options in lieu of cash payments related to the Company’s fiscal 2020 bonus with a value of $5,735. These options are included in the table above.

(b) Common Stock Warrants

The following tables summarize the activity for the Company’s warrants for the six months ended August 31, 2020:


		Common Stock
		Warrants

Balance, February 29, 2020		1,653,268
Issued		—
Exercised		(160,000)
Automatic exercise of warrants in connection with IPO		(1,493,268)
Balance, August 31, 2020		—

On July 7, 2020, upon the closing of our IPO, 1,401,836 shares of common stock were issued upon the automatic net exercise of all warrants that were outstanding as of the IPO date. There were no warrants outstanding as of August 31, 2020.

(9) Stock Options and Warrants

(a)Stock Options

In 2010, the Company adopted the Amended and Restated 2007 Stock Option Plan as amended (the Option Plan), which authorized the Company to grant shares of common stock to eligible employees, directors, and consultants to the Company in the form of restricted stock and stock options. As of February 29, 2020, the Company is authorized to issue up to 13,116,991 shares of common stock pursuant to the Option Plan. The amount, terms of grants, and exercisability provisions are determined by the board of directors. The term of the options may be up to 10 years and options generally vest over four years, with one quarter of the options vesting one year after grant and the remainder vesting on a monthly basis over three years. As of February 29, 2020, there were 941,887 shares of common stock available for future grants under the Option Plan.

The Company recognizes stock-based compensation based on the grant date fair value of the awards and recognizes that cost using the straight-line method over the requisite service period of the award. The fair value of options, which vest in accordance with service schedules, is estimated on the date of grant using the Black-Scholes option pricing model. The absence of an active market for the Company’s common stock requires it to estimate the fair value of the Company’s common stock for purposes of granting stock options and for determining stock-based compensation expense for the periods presented. The Company obtained contemporaneous third-party valuations to assist in determining the estimated fair value of its common stock. These contemporaneous third-party valuations used the methodologies, approaches, and assumptions consistent with the American Institute of Certified Public Accountants

Practice Guide, Valuation of Privately-Held-Company Equity Securities Issued as Compensation. Expected volatilities are based on historical volatilities of comparable companies. The expected term of the options is based on the simplified method outlined in the SEC Staff accounting guidance, under which the Company estimates the term as the average of the option’s contractual term and the option’s weighted average vesting period. The risk-free rate represents the yield on U.S. Treasury bonds with maturity equal to the expected term of the granted option. The Company accounts for forfeitures as they occur. All stock options outstanding at February 29, 2020 are expected to vest according to their specific schedules.

During the years ended February 28, 2019 and February 29, 2020, the Company recognized $5,721 and $6,002, respectively, of compensation expense related to stock options.

The following table summarizes the amount of stock-based compensation included in the consolidated statements of operations:


	Fiscal year
	2019		2020
Cost of revenue	$	255	$	318
Product and technology		1,108		1,674
Sales and marketing		1,199		1,482
General and administrative		3,159		2,528
Total stock‑based compensation	$	5,721	$	6,002

The Company did not capitalize any stock-based compensation expense to deferred costs for the years ended February 28, 2019 and February 29, 2020.

The weighted average grant date fair value for stock options granted during the years ended February 28, 2019 and February 29, 2020, was $2.95 and $5.40, respectively. The fair value of the Company’s option grants is estimated at the grant date using the Black-Scholes option-pricing model based on the following weighted average assumptions:


	Fiscal year
	2019							2020
Estimated fair value of common stock	$	2.40		-	$	3.35		$	4.80		-	$	9.55
Exercise price	$	4.70		-	$	6.75		$	9.60		-	$	18.70
Expected volatility		46	%	-		50	%						50	%
Expected term (in years)						6.25							6.25
Risk‑free interest rate		2.65	%	-		2.94	%		1.67	%	-		2.62	%
Dividend yield						—							—

The following is a summary of stock option activity under the Option Plan:


				Weighted
		Weighted‑		Remaining		Aggregate
		Average		Contractual		Intrinsic
	Stock Options	Exercise Price		Life In Years		Value
Balance, February 28, 2018	6,970,591
Granted	1,635,115
Exercised	(249,027)
Forfeited	(209,135)
Balance, February 28, 2019	8,147,544
Granted	2,084,046	$	10.80
Exercised	(1,843,001)	$	3.70
Forfeited	(392,533)	$	5.70
Balance, February 29, 2020	7,996,056	$	6.19	7.0	years	$	73,631
Vested and expected to vest as of February 29, 2020	7,996,056	$	6.20	7.0	years	$	73,631
Exercisable as of February 29, 2020	4,579,458	$	4.35	5.6	years	$	50,573

The aggregate intrinsic value of stock options exercised was $305 and $22,033 for the years ended February 28, 2019 and February 29, 2020, respectively. As of February 29, 2020, approximately $12,353 of unrecognized compensation expense related to stock options is expected to be recognized over a weighted average period of 2.1 years.

(b)Common Stock Warrants

The following tables summarize the activity for the Company’s warrants for the periods presented as well as the number of warrants outstanding and related terms at February 28, 2019 and February 29, 2020:


	Common Stock		Exercise					Expiration
	Warrants	Exercisable	Price					Date
Balance, February 28, 2018	928,945
Issued	541,159
Exercised	(4,061)
Balance, February 28, 2019	1,466,043
Issued	220,594
Exercised	(33,369)
Balance, February 29, 2020	1,653,268	1,653,268	$	0.0005	-	$	23.75	April 2020 - October 2029


	Number of Warrants
	Outstanding at
	February 28/29,		Exercise
	2019	2020	Price					Expiration Date
Series E holders	1,162,483	1,129,114				$	0.0005	July 2026 - March 2028
Series F holders	—	85,000				$	0.0005	October 2029
Customer	160,000	160,000				$	13.75	April 2020
Lenders	143,560	279,154	$	0.005	-	$	23.75	Nov 2022 - July 2029
Total	1,466,043	1,653,268

On June 29, 2015, the Company issued a warrant to its initial customer to purchase up to 200,000 common shares. Based on the vesting provisions and the remaining period over which the warrant is exercisable, the maximum number of shares that can vest pursuant to the warrant is 160,000 shares of common stock, of which 120,000 and 160,000 were vested and exercisable as of February 28, 2019 and February 29, 2020, respectively. During March 2020, the customer exercised all vested warrants which resulted in the issuance of 160,000 shares of common stock.

In connection with the Term Loan amendment, the Company issued a warrant to purchase up to 86,600 shares of the Company’s common stock (the 2019 Term Loan Warrant) at an exercise price of $9.60 per share. The 2019 Term

Loan Warrant vested 100% upon issuance and has a ten-year term, ending July 19, 2029. The Company calculated the fair value of the 2019 Term Loan Warrant using the Black-Scholes option pricing model, and the fair value of the 2019 Term Loan Warrant was determined to be $528. This amount was recorded as a debt discount and is being amortized ratably over the Term Loan period.

In connection with the 2019 Revolver, the Company issued the lender warrants to purchase up to 36,363 and 12,631 shares of the Company’s common stock (the 2019 Revolver Warrants) at an exercise price of $13.75 and $23.75 per share, respectively. The 2019 Revolver Warrants vested 100% upon issuance and have a ten-year term, ending July 19, 2029. The Company calculated the fair value of the 2019 Revolver Warrants using the Black-Scholes option pricing model, and the fair value of the 2019 Revolver Warrants was determined to be $251.

Defined Contribution Retirement Plan

12 Months Ended

Feb. 29, 2020

Defined Contribution Retirement Plan

Defined Contribution Retirement Plan

(10) Defined Contribution Retirement Plan

The Company sponsors a defined contribution retirement plan named the Accolade, Inc. 401(k) Plan (401(k) Plan). Under the 401(k) Plan, eligible employees may contribute up to the maximum allowed by law. Eligible employees are eligible for Company matching contributions on the first quarter following their one-year anniversary date, which are dollar for dollar up to 3% of an employee’s eligible compensation, up to $100 in annual compensation. Employer contributions are vested over a period of four years of service. The 401(k) Plan includes an employer discretionary profit-sharing contribution feature to allow the Company to make a contribution to eligible employees’ 401(k) Plan accounts. Profit sharing contributions are vested over a period of four years of service. The Company incurred expenses related to matching contributions totaling $1,260 in 2019 and $1,356 in 2020, which were funded subsequent to each respective year-end.

Income Taxes

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Income Taxes

Income Taxes

(9) Income Taxes

The provision for income taxes consists of provisions for federal, state and foreign income taxes. The effective tax rates for the periods ended August 31, 2020 and August 31, 2019, reflect the Company’s expected tax rate on reported income from continuing operations before income tax and tax adjustments. The Company operates in a global environment with significant operations in the U.S. and operations in the Czech Republic. Accordingly, the consolidated income tax rate is a composite rate reflecting the Company’s earnings and the applicable tax rates in the various jurisdictions where the Company operates.

2019, and 2020 to be carried back to each of the five preceding taxable years to generate a refund of previously paid income taxes. The CARES Act also allows for retroactive accelerated income tax depreciation on certain leasehold improvement assets and changes to the limitations on business interest deductions for tax years beginning in 2019 and 2020 which increases the allowable business interest deduction from 30% to 50% of adjusted taxable income. The Company does not expect a material tax expense or tax benefit as a result of the CARES Act in the current period or subsequent periods.

For the three months ended August 31, 2020 and 2019, the Company recorded income tax expense of $18 and $14, respectively, which resulted in effective tax rates of (0.1%) for both periods. For the six months ended August 31, 2020 and 2019, the Company recorded income tax expense of $56 and $37, respectively, which resulted in effective tax rates of (0.2%) and (0.1%), respectively. The tax expense relates to the local tax expense recorded for the Czech Republic. The Company's U.S. losses did not result in a benefit due to the U.S. full valuation allowance.

(11) Income Taxes

Loss before income taxes consists of the following components:


	Fiscal year
	2019		2020
Domestic	$	(56,586)	$	(51,795)
Foreign		144		558
Total	$	(56,442)	$	(51,237)

Significant components of income taxes are as follows:


	Fiscal year
	2019		2020
Currently payable:
Federal	$	—	$	—
State and Local		—		—
Foreign		55		129
Total currently payable		55		129
Deferred:
Federal		—		—
State and Local		—		—
Foreign		—		—
Total deferred		—		—
Provision (benefit) for income taxes	$	55	$	129

A reconciliation of income tax expense at the U.S. Federal statutory income tax rate to actual income tax provision is as follows:


	Fiscal year
	2019		2020
Federal income tax expense at statutory tax rate	21.0	%	21.0	%
State income taxes, net of federal tax benefit	6.0		7.5
Stock‑based compensation	(2.1)		3.9
Transaction costs	0.0		(0.2)
Changes in valuation allowances	(24.8)		(31.4)
Other	(0.2)		(1.0)
Effective Income Tax Rate	(0.1)	%	(0.2)	%

Income tax expense for the fiscal years ended February 28, 2019 and February 29, 2020 differ from the U.S. statutory income tax rate due to changes in valuation allowances, state income taxes and stock-based compensation.

On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act makes broad and complex changes to the U.S. tax code, including, but not limited to: (i) reducing the U.S. federal corporate tax rate to 21 percent; (ii) eliminating the corporate alternative minimum tax (AMT) and changing how existing AMT credits can be realized; (iii) creating a new limitation on deductible interest expense; (iv) changing rules related to uses and limitations of net operating carryforwards created in tax years beginning after December 31, 2017; and (v) changing the U.S. federal taxation of earnings of foreign subsidiaries.

U.S. GAAP accounting for income taxes required that the Company record the impact of any tax law change on deferred income taxes in the quarter that the tax law change was enacted. Due to the complexities involved in accounting for the enactment of the Tax Act, SEC Staff Accounting Bulletin (SAB) 118 allowed the Company to provide a provisional estimate of the impacts of the Tax Act in its earnings for the fourth quarter and year ending February 28, 2018. In connection with our adoption of the Tax Act and in consideration of SAB 118, there were no changes made to the provisional amounts recognized in connection with the enactment of the Tax Act. The accounting for the income tax effects of the Tax Act was complete as of February 28, 2019.

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts for income tax purposes. The Company makes significant judgments regarding the realizability of its deferred tax assets (principally net operating losses). The carrying value of deferred tax assets is based on the Company’s assessment that it is more likely than not that the Company will

realize these assets after consideration of all available positive and negative evidence. Significant components of the Company’s deferred tax assets and liabilities at February 28, 2019, and February 29, 2020 are as follows:


	Fiscal year
	2019		2020
Deferred tax assets:
Net operating loss and tax credit carryforwards	$	55,664	$	76,508
Other accruals and reserves		3,529		3,413
Stock‑based compensation		491		561
Deferred rent		1,066		1,280
Interest expense deduction limitation carryforward		742		1,549
Intangibles		19		—
Property, plant & equipment		252		526
Other		139		355
Valuation allowance		(61,902)		(83,640)
Deferred tax assets		—		552
Deferred tax liabilities:
Intangibles		—		(552)
Deferred tax liabilities		—		(552)
Net deferred taxes	$	—	$	—

Net operating loss carryforwards amounted to $272,804 for U.S. federal and $258,875 for U.S. states at February 29, 2020. These operating loss carryforwards related to the 2010 through current 2020 tax periods. At February 29, 2020, none of the operating loss carryforwards were subject to expiration until 2030. The operating loss carryforwards expiring in years 2030 through 2037 make up $53,184 of the recorded deferred tax asset. The remaining deferred tax asset relating to operating loss carryforwards of $22,923 have an indefinite expiration. In addition to operating loss carryforwards, research and development tax credit carryforwards amounted to $401 for U.S. federal and U.S. states at February 29, 2020. These tax credit carryforwards will expire in 2036. Under Section 382 of the Internal Revenue Code, the yearly utilization of a corporation’s net operating loss carryforwards may be limited following a change in ownership of greater than 50% (by value) over a three-year period. The yearly limitation is based on the value of the corporation immediately before the ownership change multiplied by the federal long-term tax-exempt rate. If a loss is not utilized in a year after an ownership change that yearly limit is carried forward to future years for the balance of the net operating loss carryforward period. As of February 29, 2020, the Company did not incorporate a yearly limitation under Section 382.

Management assesses the available positive and negative evidence to estimate if a valuation allowance is required to be recorded against existing deferred tax assets. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based upon the Company’s brief operating history and the net losses incurred since inception, management does not believe that it is more likely than not that the Company will realize the benefits of these deductible differences. As a result, a full valuation allowance has been provided at February 28, 2019 and February 29, 2020.

The changes in the valuation allowance were as follows:


	Fiscal year
	2019		2020
Balance at the beginning of the period	$	47,908	$	61,902
(Decrease) increase due to NOLs and temporary differences		13,994		16,100
(Decrease) increase due to acquisitions		—		5,638
Balance at the end of the period	$	61,902	$	83,640

The Company has recorded a deferred tax asset of $1,549 for interest expense limited under the Tax Act at February 29, 2020. The interest expense limited has an unlimited carryforward period.

U.S. income and foreign withholding taxes have not been recognized on the excess of the amount for financial reporting over tax basis of the investments in foreign subsidiaries that is indefinitely reinvested outside the U.S. The foreign subsidiary is identified as a branch for U.S. tax purposes, and therefore, a gross temporary difference for investment basis differences is not applicable.

The Company had no material accrual for uncertain tax positions or interest or penalties related to income taxes on the Company’s consolidated balance sheets at February 28, 2019 and February 29, 2020 and has not recognized any material uncertain tax positions or interest and/or penalties related to income taxes in the consolidated statement of operations for the years ended February 28, 2019 and February 29, 2020.

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted in response to the COVID-19 pandemic. The CARES Act, among other things, allows net operating losses incurred in 2018, 2019, and 2020 to be carried back to each of the five preceding taxable years to generate a refund of previously paid income taxes. The CARES Act also allows for retroactive accelerated income tax depreciation on certain leasehold improvement assets and changes to the limitations on business interest deductions for tax years beginning in 2019 and 2020 which increases the allowable business interest deduction from 30% to 50% of adjusted taxable income. The Company does not expect a material tax expense or tax benefit as a result of the CARES Act in subsequent periods.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Net Loss Per Share Attributable to Common Stockholders

Net Loss Per Common Share

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Net Loss Per Common Share

(10) Net Loss Per Share Attributable to Common Stockholders

The following table sets forth the computation of basic and diluted net loss per share attributable to Accolade’s common stockholders:


	2019		2020		2019		2020
Net loss	$	(15,026)	$	(15,371)	$	(30,929)	$	(29,331)
Weighted-average shares used in computing net loss per share		5,336,501		33,029,147		5,141,047		20,277,416
Net loss per share attributable to common stockholders, basic and diluted	$	(2.82)	$	(0.47)	$	(6.02)	$	(1.45)

As the Company has reported net loss for each of the periods presented, all potentially dilutive securities are antidilutive. The following potential outstanding shares of common stock were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive:


	2019	2020
Stock options	9,092,367	9,426,565
Common stock warrants	317,882	—
Total	9,410,249	9,426,565

(12) Net Loss Per Common Share

The following table sets forth the computation of basic and diluted net loss per common share:


	Fiscal year
	2019		2020
Net loss	$	(56,496)	$	(51,365)
Net loss per common share, basic and diluted	$	(12.17)	$	(9.13)
Weighted‑average shares used to compute net loss per common share, basic and diluted		4,641,256		5,626,713

As the Company has reported net losses for each of the periods presented, all potentially dilutive securities are antidilutive. The following potential outstanding shares of common stock were excluded from the computation of diluted net loss per common share for the periods presented because including them would have been antidilutive:


	Fiscal year
	2019	2020
Stock options	8,147,544	7,996,056
Common stock warrants	182,288	317,861
Total	8,329,832	8,313,917

Unaudited Pro Forma Net Loss Per Common Share

Unaudited pro forma basic and diluted net loss per common share for the fiscal year ended February 29, 2020 has been computed to give effect to the conversion of convertible preferred stock into common stock and related deemed dividend in connection with the Initial Public Offering (IPO) as of the beginning of the period presented or the date of issuance as well as the automatic cashless exercises of warrants to purchase 1,401,836 shares of common stock based on the fair market value of the Company’s common stock equal to the IPO price of $22.00 per share (exclusive of warrants with nominal exercise prices that are already included in basic loss per share).

The following table sets forth the computation of the unaudited pro forma basic and diluted net loss per share:


	Fiscal Year Ended
	February 29,
	2020
Numerator:
Net loss	$	(51,365)
Deemed dividend attributable to preferred shareholders		(239,294)
Net loss attributable to common stockholders	$	(290,609)
Denominator:
Weighted‑average shares used to compute net loss per common share, basic and diluted		5,626,713
Pro forma adjustment to reflect conversion of convertible preferred stock		28,964,247
Pro forma adjustment to reflect automatic cashless exercise of warrants		42,492
Weighted‑average shares used to compute pro forma net loss per common share, basic and diluted		34,633,452
Pro forma net loss per common share, basic and diluted	$	(8.39)

Commitments

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Commitments

Commitments

(11) Commitments

(a) Legal Proceedings

The Company is involved in various claims, inquiries and legal actions arising in the ordinary course of business. In the opinion of management, the ultimate disposition of these matters is not expected to have a material adverse effect on the Company’s financial position or liquidity.

On August 1, 2017, certain former and current employees filed a suit against the Company seeking back wages for unpaid overtime as a result of alleged misclassification by the Company under the Pennsylvania Minimum Wage Act and the Federal Fair Labor Standards Act. During March 2019, a settlement agreement (the Settlement Agreement) was executed by both parties in the amount of $1,100 (the Settlement). The Settlement Agreement was ultimately approved by the Court and the Company paid the Settlement during April 2020.

(b) Employment Agreements

Certain officers of the Company have employment agreements providing for severance, continuation of benefits, and other specified rights in the event of termination without cause, including in the event of a change of control of the Company, as defined in the agreements.

(13) Commitments

(a)Leases

The Company leases its office premises in Pennsylvania, Washington, Arizona, California and the Czech Republic, pursuant to lease agreements that expire on various dates through 2030. The Company recognizes rent expense under such arrangements on a straight line basis. Rent expense was $4,294 and $5,143 for the fiscal years ended February 28, 2019 and February 29, 2020, respectively. As of February 28, 2019 and February 29, 2020, the Company had security deposits of $460 and $477, respectively. The security deposits are included in other assets on the accompanying consolidated balance sheets.

On May 28, 2019, the Company entered into a new lease for its Seattle office space that expires in 2030. The new lease is subject to both certain early termination rights and an option to extend, as defined in the lease. The lease commencement date was October 1, 2019, and total future payments are $25,836. On December 30, 2019, the Company entered into a termination agreement for its prior Seattle office space, with a termination date of December 31, 2019. The Company paid $142 and as a result of the termination has no future obligations under the terms of the agreement.

The future aggregate minimum lease payments as of under all non-cancelable operating leases (including the Seattle lease discussed above) for the years noted are as follows:


Fiscal years ending February 28(29),
2021	$	6,104
2022		6,580
2023		6,577
2024		6,625
2025		5,664
Thereafter		21,516
	$	53,066

(b)Legal Proceedings

as well as the resolution of other such similar suits, the Company had determined that it was probable that it had a liability. Accordingly, the Company recorded a litigation expense and related accrued litigation expense in the amount of $650. During March 2019, a settlement agreement (the Settlement Agreement) was executed by both parties in the amount of $1,100, (the Settlement). Accordingly, during the fiscal year ended February 28, 2019, the Company recorded additional litigation expense and related accrual in the amount of $450 related to the settlement of this matter. The Settlement was ultimately approved by the Court and the Company paid $1,100 during April 2020.

(c)Employment Agreements

Change Healthcare Joint Development Agreement

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Change Healthcare Joint Development Agreement

Change Healthcare Joint Development Agreement

(12) Change Healthcare Joint Development Agreement

In February 2020, the Company entered into a joint development agreement, or JDA, and a data licensing agreement with Change Healthcare Holdings, or Change Healthcare, whereby Change Healthcare will be a strategic partner in providing various services to support the Company’s Total Care and Provider Services product offerings. Pursuant to the terms of the JDA, Change Healthcare is providing intellectual property (IP), technical know-how, and advisory services to the Company as it develops price transparency products under the JDA that will be utilized by the Company in several of its product offerings. Either party is permitted to sell the price transparency product within each party’s respective service offerings. Each party is entitled to a royalty from the other party in connection with any net sales associated with the price transparency product that was developed under the JDA, not to exceed $2,500 in cumulative royalty payments.

Concurrent with entering into the JDA, the Company entered into a five-year data licensing agreement with Change Healthcare who is one of the largest commercially available data set providers of de-identified claims in the United States. The licensing agreement includes annual increases in fees and the option to renew and extend beyond the initial five-year period. The annual licensing fees are subject to increases and decreases and contingent upon the achievement of performance objectives as defined in the data licensing agreement. Upfront payments for data licenses are deferred and will be amortized into cost of revenue, as they pertain to the delivery of the Company’s product offerings.

Upon entering into the JDA and data licensing agreement, the Company issued 251,211 restricted shares of its common stock to Change Healthcare at an estimated fair value of $15.40 per share, or $3,869 in aggregate value. Pursuant to the terms of the restricted share agreement, 150,727 of the shares vested immediately and the remaining 100,484 restricted shares will vest upon the achievement of certain product development milestones, as defined. During July 2020, 75,363 of these shares vested upon the achievement of certain milestones. The aggregate equity value was allocated to the JDA and data licensing agreement based on the relative fair value of the IP and technical know-how contributed by Change Healthcare within the JDA and the discounted pricing received from Change Healthcare within the data licensing agreement. The equity value allocated to the JDA and data licensing agreement was capitalized and deferred as internally developed software and other assets within the Company’s consolidated balance sheet, respectively, with an offsetting increase to additional paid-in capital. Costs that are capitalized and classified as internally developed software will be amortized within depreciation and amortization in the Company’s consolidated statement of operations.

(14) Change Healthcare Joint Development Agreement

In February 2020, the Company entered into a joint development agreement, or JDA, and a data licensing agreement with Change Healthcare Holdings, or Change Healthcare, whereby Change Healthcare will be a strategic partner in providing various services to support the Company’s Total Care and Provider Services product offerings. Pursuant to the terms of JDA, Change Healthcare is providing intellectual property (IP), technical know-how, and advisory services to the Company as it develops price transparency products under the JDA that will be utilized by the Company in several of its product offerings. Either party is permitted to sell the price transparency product within each party’s respective service offerings. Each party is entitled to a royalty from the other party in connection with any net sales associated with the price transparency product that was developed under the JDA, not to exceed $2,500 in cumulative royalty payments.

Upon entering into the JDA and data licensing agreement, the Company issued 251,211 restricted shares of its common stock to Change Healthcare at an estimated fair value of $15.40 per share, or $3,869 in aggregate value. Pursuant to the terms of the restricted share agreement, 150,727 of the shares vest immediately and the remaining 100,484 restricted shares will vest upon the achievement of certain product development milestones, as defined. The aggregate equity value was allocated to the JDA and data licensing agreement based on the relative fair value of the IP and technical know-how contributed by Change Healthcare within the JDA and the discounted pricing received from Change Healthcare within the data licensing agreement. Equity value allocated to the JDA and data licensing agreement is capitalized and deferred as internally developed software and other assets within the Company’s consolidated balance sheet, respectively with an offsetting increase to additional paid-in capital. Costs that are capitalized and classified as internally developed software will be amortized within depreciation and amortization in the Company’s consolidated statement of operations.

Related Party Transactions

12 Months Ended

Feb. 29, 2020

Related Party Transactions

Related Party Transactions

(15) Related Party Transactions

Entities affiliated with one of the Company’s significant customers own more than 5% of the Company’s outstanding stock. Revenues related to this customer were $33,433 and $31,556 during the fiscal years ended February 28, 2019 and February 29, 2020, respectively. There were no accounts receivable outstanding as of February 28, 2019 and February 29, 2020.

Subsequent Events

12 Months Ended

Feb. 29, 2020

Subsequent Events

Subsequent Events

(16) Subsequent Events

Due to the government-imposed quarantines and other public health safety measures put into place in March 2020, COVID-19 has caused disruption in the markets where we sell our products and related services. Although the Company has not experienced any significant impact as a result of the COVID-19 pandemic, the Company will continue to closely monitor for any changes to the Company’s operations and the operations of our customers.

The Company has evaluated subsequent events from the balance sheet date through June 16, 2020, the date of which the consolidated financial statements were available to be issued, and determined there are no other items requiring disclosure.

Summary of Significant Accounting Policies (Policies)

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Summary of Significant Accounting Policies

Basis of Presentation and Principles of Consolidation

(a)Basis of Presentation and Principles of Consolidation

Use of Estimates

(b)Use of Estimates

Comprehensive Loss

(c)Comprehensive Loss

For the fiscal years ended February 28, 2019 and February 29, 2020, there was no difference between comprehensive loss and net loss.

Fair Value of Financial Instruments

(d)Fair Value of Financial Instruments

●

Level 1 — Quoted prices in active markets for identical assets or liabilities.

●

Level 3 — Inputs that are generally unobservable and typically reflect the Company’s estimate of assumptions that market participants would use in pricing the asset or liability.

Cash and Cash Equivalents

(e)	Cash and Cash Equivalents

Accounts Receivable and Unbilled Revenue

(f)Accounts Receivable and Unbilled Revenue

Property and Equipment

(g)Property and Equipment

Useful lives for property and equipment are as follows:


Property and Equipment	Estimated Useful Life
Office equipment and furniture			7	years
Computer equipment	3	-	5	years
Computer software	3	-	5	years
Leasehold improvements	Lesser of estimated useful life or remaining lease term

Capitalized Internal-Use Software Costs

Costs related to software acquired, developed, or modified solely to meet the Company’s internal requirements, including tools that enable the Company’s employees to interact with members and their providers, with no substantive plans to market such software at the time of development, are capitalized. Costs incurred during the preliminary planning and evaluation stage of the project and during the post-implementation operational stage are expensed as incurred.

Costs related to minor upgrades, minor enhancements, and maintenance activities are expensed as incurred. Costs incurred during the application development stage of the project are capitalized.

Internal-use software is included in property and equipment and is amortized on a straight-line basis over 3 years.

For the three months ended August 31, 2020 and 2019, the Company capitalized $85 and $0, respectively, for internal-use software. For the six months ended August 31, 2020 and 2019, the Company capitalized $374 and $0, respectively, for internal-use software. Amortization expense related to capitalized internal-use software during the three months ended August 31, 2020 and 2019 was $1,120 and $1,054, respectively. Amortization expense related to capitalized internal-use software during the six months ended August 31, 2020 and 2019 was $2,131 and $2,431, respectively.

(h)Capitalized Internal-Use Software Costs

Impairment of Long Lived Assets

(i)Impairment of Long-Lived Assets

Intangible Assets

As part of the acquisition of MD Insider, Inc. (MDI) in July 2019 (Note 4), the Company acquired an intangible asset in the form of acquired technology in the amount of $2,900. This intangible asset is subject to amortization and is being amortized on the straight-line basis over its estimated useful life of two years. Amortization expense related to the intangible asset was $362 and $121 during the three months ended August 31, 2020 and 2019, respectively, and $724 and $121 during the six months ended August 31, 2020 and 2019, respectively.

(j)Intangible Assets

Goodwill

(k)Goodwill

The Company’s annual goodwill impairment test resulted in no impairment charges in the fiscal year ended February 29, 2020.

Reverse Stock Split

(l)Reverse Stock Split

All share and per share information included in these consolidated financial statements and footnotes retroactively reflects the reverse split.

Revenue and Deferred Revenue

(m)Revenue and Deferred Revenue

●

identification of the contract, or contracts, with a customer;

●

identification of the performance obligations in the contract;

●

determination of the transaction price;

●

allocation of the transaction price to the performance obligations in the contract; and

●

recognition of revenue when, or as, the Company satisfies a performance obligation

As of February 29, 2020, $164,552 of revenue is expected to be recognized from remaining performance obligations and is expected to be recognized as follows:


Fiscal periods ending February 28(29),
2021	$	111,741
2022		42,461
2023		8,390
2024		1,960
Total	$	164,552

Cost to obtain and fulfill a contract

Concentration of Credit Risk

Significant customers are those which represent 10% or more of the Company’s revenue during the periods. For each significant customer, revenue as a percentage of total revenue was as follows:


	For the three months ended August 31,				For the six months ended August 31,
	2019		2020		2019		2020
Customer 1	27	%	14	%	27	%	17	%
Customer 2	11	%	12	%	12	%	12	%
Customer 3	11	%	11	%	11	%	11	%
Total	49	%	37	%	50	%	40	%

Accounts receivable outstanding related to these customers at August 31, 2020 was as follows:


	August 31, 2020
Customer 1	$	—
Customer 2		—
Customer 3		6,670

(n)Concentration of Credit Risk

significant credit risk on cash and cash equivalents and perform periodic evaluations of the credit standing of such institutions.

Significant customers are those which represent 10% or more of the Company’s revenue during the period. For each significant customer, revenue as a percentage of total revenue was as follows:


	Fiscal Year Ended
	2019		2020
Customer 1	35	%	24	%
Customer 2	3	%	13	%
Customer 3	14	%	12	%
Customer 4	8	%	10	%
Customer 5	11	%	9	%
Total	71	%	68	%

There were no accounts receivable outstanding related to any of these customers at February 28, 2019 and February 29, 2020, respectively.

Stock Based Compensation

(o)Stock-Based Compensation

Cost of Revenue, excluding Depreciation and Amortization

(p)Cost of Revenue, excluding Depreciation and Amortization

Product and Technology

(q)Product and Technology

Income Taxes

(r)Income Taxes

Segments

(s)Segments

As of February 28, 2019 and February 29, 2020, substantially all of Accolade’s long-lived assets were located in the United States, and all revenue was earned in the United States.

Deferred Offering Costs

The Company capitalized certain legal, accounting and other third-party fees that were directly associated with the IPO as deferred offering costs until the IPO was completed in July 2020. Upon the completion of the IPO, total deferred costs of $4,596 were recorded in stockholders’ equity (deficit) as a reduction of additional paid-in-capital. Deferred offering costs were $0 and $3,042 at August 31, 2020 and February 29, 2020, respectively, and were included within prepaid and other current assets on the accompanying consolidated balance sheet at February 29, 2020. As of August 31, 2020, $312 of deferred costs were included in accounts payable and accrued expenses.

(t)Deferred Offering Costs

New Accounting Pronouncements Not Yet Adopted

Leases: In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). In July 2018, the FASB issued ASU No. 2018-10, Codification Improvements to Topic 842, Leases, and ASU No. 2018-11, Leases (Topic 842), Targeted Improvements, which affect certain aspects of the previously issued guidance. In December 2018, the FASB issued ASU No. 2018-20, Narrow-Scope Improvements for Lessor, Leases (Topic 842), which provides guidance on sales tax and other taxes collected from lessees. In March 2019, the FASB issued ASU No. 2019-01, Codification Improvements to Topic 842, Leases, which affect certain aspects of the previously issued guidance. Amendments include an additional transition method that allows entities to apply the new standard on the adoption date and recognize a cumulative effect adjustment to the opening balance of retained earnings, as well as a new practical expedient for lessors. In June 2020, the FASB issued ASU 2020-05, Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842) Effective Dates for Certain Entities, which delayed the adoption period of Topic 842. The guidance (collectively ASC 842) will require lessees to put all leases on their balance sheets, whether operating or financing, while continuing to recognize the expenses on their income statements in a manner similar to current practice. ASC 842 states that a lessee would recognize a lease liability

(2) Basis of Presentation and Summary of Significant Accounting Policies (Continued)

for the obligation to make lease payments and a right-to-use asset for the right to use the underlying asset for the lease term. ASC 842 is effective for the Company for fiscal year ending February 28, 2023. Early adoption is permitted. The Company is evaluating the accounting, transition and disclosure requirements of the standard and cannot currently estimate the financial statement impact of adoption.

Credit Losses: In June 2016, the FASB issued ASU No. 2016-13 Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. ASU 2016-13 introduces the current expected credit loss (CECL) model, which will require entities to estimate an expected lifetime credit loss on financial assets ranging from short-term trade accounts receivable to long-term financings. ASU 2016-13 is effective for the Company for fiscal year ending February 28, 2023. Early adoption is permitted. The Company is evaluating the accounting, transition and disclosure requirements of the standard and cannot currently estimate the financial statement impact of adoption.

Internal Use Software: In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, which aligns the requirements for capitalizing implementation costs incurred in a cloud computing arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use-software. This ASU is effective for the fiscal year ending February 28, 2022, and interim periods within the fiscal year ending February 28, 2023. Early adoption is permitted. The Company is evaluating the accounting, transition and disclosure requirements of the standard and cannot currently estimate the financial statement impact of adoption.

(u)New Accounting Pronouncements Not Yet Adopted

Unaudited Pro Forma Financial Information

(v)Unaudited Pro Forma Financial Information

Summary of Significant Accounting Policies (Tables)

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Summary of Significant Accounting Policies

Summary of useful lives for property and equipment


Property and Equipment	Estimated Useful Life
Office equipment and furniture			7	years
Computer equipment	3	-	5	years
Computer software	3	-	5	years
Leasehold improvements	Lesser of estimated useful life or remaining lease term

Summary of revenue expected to be recognized from remaining performance obligations


Fiscal year ending February 28(29),
Remainder of 2021	$	77,630
2022		104,703
2023		35,033
2024		9,999
Total	$	227,365


Fiscal periods ending February 28(29),
2021	$	111,741
2022		42,461
2023		8,390
2024		1,960
Total	$	164,552

Summary of revenue as a percentage of total revenue


	Fiscal Year Ended
	2019		2020
Customer 1	35	%	24	%
Customer 2	3	%	13	%
Customer 3	14	%	12	%
Customer 4	8	%	10	%
Customer 5	11	%	9	%
Total	71	%	68	%

Acquisition of MD Insider (MDI) (Tables)

12 Months Ended

Feb. 29, 2020

Summary of purchase consideration paid


Consideration Paid
Cash consideration	$	324
Fair value of equity issued		5,114
Fair value of contingent consideration		1,050
Total consideration paid	$	6,488

Summary of estimated fair values of the assets acquired and liabilities assumed at the date of acquisition


Assets acquired:
Cash and cash equivalents	$	118
Accounts receivable		98
Prepaid expenses		5
Goodwill		4,013
Intangible assets		2,900
Other assets		17
Total assets acquired	$	7,151
Liabilities assumed:
Accounts payable	$	321
Accrued expenses and other current liabilities		342
Total liabilities assumed	$	663
Net assets acquired	$	6,488

Property and Equipment (Tables)

12 Months Ended

Feb. 29, 2020

Property and Equipment

Schedule of Property and Equipment


	February 28/29,
	2019		2020
Capitalized software development costs	$	32,862	$	35,867
Computer software		10,275		8,829
Computer equipment		7,828		9,383
Office equipment, furniture, and leasehold improvements		8,012		8,903
Office equipment and furniture under capital leases		1,252		1,251
		60,229		64,233
Less accumulated depreciation		(44,955)		(50,608)
Total	$	15,274	$	13,625

Accrued Expenses and Accrued Compensation (Tables)

12 Months Ended

Feb. 29, 2020

Accrued Expenses and Accrued Compensation

Schedule of Accrued Expenses


	February 28/29,
	2019		2020
Accrued professional and consulting fees	$	755	$	3,375
Accrued software, hardware, and communication costs		154		228
Accrued litigation matter		1,100		1,100
Accrued taxes		335		512
Accrued other		796		1,365
Total	$	3,140	$	6,580

Fair Value Measurements (Tables)

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Schedule of fair value of financial assets


	Level 1		Level 2		Level 3		Fair Value
Assets
Cash equivalents:
Money market funds	$	21,332	$	—	$	—	$	21,332
Certificates of deposit	$	5,000	$	—	$	—	$	5,000

	Level 1		Level 2		Level 3		Fair Value
Assets
Cash equivalents:
Money market funds	$	212,221	$	—	$	—	$	212,221


	February 28, 2019
	Level 1		Level 2		Level 3		Fair Value
Assets
Cash equivalents:
Money market funds	$	28,661	$	—	$	—	$	28,661


	February 29, 2020
	Level 1		Level 2		Level 3		Fair Value
Assets
Cash equivalents:
Money market funds	$	21,332	$	—	$	—	$	21,332

Debt facility (Tables)

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Schedule Of Debt


	February 29, 2020

Current - Interest payable – 2019 Revolver	$	—
Long-term
2019 Revolver	$	—
Term loan - principal outstanding	$	22,000
Interest payable-in-kind		273
Unamortized issuance costs		(1,129)
Total long-term	$	21,144


	February 28,		February 29,
	2019		2020
Principal outstanding	$	20,000	$	22,000
Interest payable‑in‑kind		—		273
Unamortized issuance costs		(800)		(1,129)
	$	19,200	$	21,144

Stockholders' Equity (Tables)

12 Months Ended

Feb. 29, 2020

Schedule of convertible preferred stock


			Shares	Issued and	Carrying		Liquidation
Series	Par value		authorized	outstanding	amount		value
A‑1	$	0.0001	3,560,000	3,559,995	$	10,000	$	10,000
A‑2		0.0001	2,579,999	2,579,994		10,000		10,000
B		0.0001	4,058,736	4,058,731		16,944		16,944
C		0.0001	601,160	601,151		7,000		7,000
D		0.0001	1,751,874	1,751,871		30,000		30,000
E		0.0001	6,089,189	6,089,159		140,720		145,300
F		0.0001	873,038	873,038		18,358		20,000
			19,513,996	19,513,939	$	233,022	$	239,244

Stock Options and Warrants (Tables)

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Schedule of stock-based compensation


	2019		2020		2019		2020
Cost of revenue	$	103	$	218	$	175	$	327
Product and technology		491		718		852		1,152
Sales and marketing		475		490		822		792
General and administrative		826		679		1,482		1,093
Total stock-based compensation	$	1,895	$	2,105	$	3,331	$	3,364


	Fiscal year
	2019		2020
Cost of revenue	$	255	$	318
Product and technology		1,108		1,674
Sales and marketing		1,199		1,482
General and administrative		3,159		2,528
Total stock‑based compensation	$	5,721	$	6,002

Schedule of weighted average assumptions


	Fiscal year
	2019							2020
Estimated fair value of common stock	$	2.40		-	$	3.35		$	4.80		-	$	9.55
Exercise price	$	4.70		-	$	6.75		$	9.60		-	$	18.70
Expected volatility		46	%	-		50	%						50	%
Expected term (in years)						6.25							6.25
Risk‑free interest rate		2.65	%	-		2.94	%		1.67	%	-		2.62	%
Dividend yield						—							—

Schedule of stock option activity


		Weighted		Weighted
		average		remaining		Aggregate
		exercise		contractual life		intrinsic
	Stock Options	price		in years		value
Balance, February 29, 2020	7,996,056	$	6.19
Granted	2,149,575		17.25
Exercised	(571,382)		4.42
Forfeited	(147,684)		6.12
Balance, August 31, 2020	9,426,565	$	8.82	7.4	years	$	223,660
Vested and expected to vest as of August 31, 2020	9,426,565	$	8.82	7.4	years	$	223,660
Exercisable as of August 31, 2020	5,499,412	$	6.19	6.3	years	$	150,792


				Weighted
		Weighted‑		Remaining		Aggregate
		Average		Contractual		Intrinsic
	Stock Options	Exercise Price		Life In Years		Value
Balance, February 28, 2018	6,970,591
Granted	1,635,115
Exercised	(249,027)
Forfeited	(209,135)
Balance, February 28, 2019	8,147,544
Granted	2,084,046	$	10.80
Exercised	(1,843,001)	$	3.70
Forfeited	(392,533)	$	5.70
Balance, February 29, 2020	7,996,056	$	6.19	7.0	years	$	73,631
Vested and expected to vest as of February 29, 2020	7,996,056	$	6.20	7.0	years	$	73,631
Exercisable as of February 29, 2020	4,579,458	$	4.35	5.6	years	$	50,573

Schedule of warrants


		Common Stock
		Warrants

Balance, February 29, 2020		1,653,268
Issued		—
Exercised		(160,000)
Automatic exercise of warrants in connection with IPO		(1,493,268)
Balance, August 31, 2020		—


	Common Stock		Exercise					Expiration
	Warrants	Exercisable	Price					Date
Balance, February 28, 2018	928,945
Issued	541,159
Exercised	(4,061)
Balance, February 28, 2019	1,466,043
Issued	220,594
Exercised	(33,369)
Balance, February 29, 2020	1,653,268	1,653,268	$	0.0005	-	$	23.75	April 2020 - October 2029


	Number of Warrants
	Outstanding at
	February 28/29,		Exercise
	2019	2020	Price					Expiration Date
Series E holders	1,162,483	1,129,114				$	0.0005	July 2026 - March 2028
Series F holders	—	85,000				$	0.0005	October 2029
Customer	160,000	160,000				$	13.75	April 2020
Lenders	143,560	279,154	$	0.005	-	$	23.75	Nov 2022 - July 2029
Total	1,466,043	1,653,268

Income Taxes (Tables)

12 Months Ended

Feb. 29, 2020

Income Taxes

Schedule of components of loss before income taxes


	Fiscal year
	2019		2020
Domestic	$	(56,586)	$	(51,795)
Foreign		144		558
Total	$	(56,442)	$	(51,237)

Schedule of significant components of income taxes


	Fiscal year
	2019		2020
Currently payable:
Federal	$	—	$	—
State and Local		—		—
Foreign		55		129
Total currently payable		55		129
Deferred:
Federal		—		—
State and Local		—		—
Foreign		—		—
Total deferred		—		—
Provision (benefit) for income taxes	$	55	$	129

Schedule of reconciliation of income tax expense at the U.S. Federal statutory income tax rate to actual income tax provision


	Fiscal year
	2019		2020
Federal income tax expense at statutory tax rate	21.0	%	21.0	%
State income taxes, net of federal tax benefit	6.0		7.5
Stock‑based compensation	(2.1)		3.9
Transaction costs	0.0		(0.2)
Changes in valuation allowances	(24.8)		(31.4)
Other	(0.2)		(1.0)
Effective Income Tax Rate	(0.1)	%	(0.2)	%

Schedule of significant components of the Company's deferred tax assets and liabilities


	Fiscal year
	2019		2020
Deferred tax assets:
Net operating loss and tax credit carryforwards	$	55,664	$	76,508
Other accruals and reserves		3,529		3,413
Stock‑based compensation		491		561
Deferred rent		1,066		1,280
Interest expense deduction limitation carryforward		742		1,549
Intangibles		19		—
Property, plant & equipment		252		526
Other		139		355
Valuation allowance		(61,902)		(83,640)
Deferred tax assets		—		552
Deferred tax liabilities:
Intangibles		—		(552)
Deferred tax liabilities		—		(552)
Net deferred taxes	$	—	$	—

Schedule of changes in valuation allowance


	Fiscal year
	2019		2020
Balance at the beginning of the period	$	47,908	$	61,902
(Decrease) increase due to NOLs and temporary differences		13,994		16,100
(Decrease) increase due to acquisitions		—		5,638
Balance at the end of the period	$	61,902	$	83,640

Net Loss Per Common Share (Tables)

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Net Loss Per Share Attributable to Common Stockholders

Schedule of computation of basic and diluted net loss per share


	2019		2020		2019		2020
Net loss	$	(15,026)	$	(15,371)	$	(30,929)	$	(29,331)
Weighted-average shares used in computing net loss per share		5,336,501		33,029,147		5,141,047		20,277,416
Net loss per share attributable to common stockholders, basic and diluted	$	(2.82)	$	(0.47)	$	(6.02)	$	(1.45)


	Fiscal year
	2019		2020
Net loss	$	(56,496)	$	(51,365)
Net loss per common share, basic and diluted	$	(12.17)	$	(9.13)
Weighted‑average shares used to compute net loss per common share, basic and diluted		4,641,256		5,626,713

Schedule of common stock were excluded from the computation of diluted net loss per share attributable to common stockholders


	2019	2020
Stock options	9,092,367	9,426,565
Common stock warrants	317,882	—
Total	9,410,249	9,426,565


	Fiscal year
	2019	2020
Stock options	8,147,544	7,996,056
Common stock warrants	182,288	317,861
Total	8,329,832	8,313,917

Schedule of computation of the unaudited pro forma basic and diluted net loss per share


	Fiscal Year Ended
	February 29,
	2020
Numerator:
Net loss	$	(51,365)
Deemed dividend attributable to preferred shareholders		(239,294)
Net loss attributable to common stockholders	$	(290,609)
Denominator:
Weighted‑average shares used to compute net loss per common share, basic and diluted		5,626,713
Pro forma adjustment to reflect conversion of convertible preferred stock		28,964,247
Pro forma adjustment to reflect automatic cashless exercise of warrants		42,492
Weighted‑average shares used to compute pro forma net loss per common share, basic and diluted		34,633,452
Pro forma net loss per common share, basic and diluted	$	(8.39)

Commitments (Tables)

12 Months Ended

Feb. 29, 2020

Commitments

Schedule of future aggregate minimum lease payments as of under all non cancelable operating leases (including the Seattle lease)


Fiscal years ending February 28(29),
2021	$	6,104
2022		6,580
2023		6,577
2024		6,625
2025		5,664
Thereafter		21,516
	$	53,066

Summary of Significant Accounting Policies - Useful lives for property and equipment (Details)	6 Months Ended	12 Months Ended
	Aug. 31, 2020	Feb. 29, 2020
Office equipment and furniture
Property, Plant and Equipment [Line Items]
Useful life		7 years
Capitalized internal-use software
Property, Plant and Equipment [Line Items]
Useful life	3 years	3 years
Minimum \| Computer equipment
Property, Plant and Equipment [Line Items]
Useful life		3 years
Minimum \| Capitalized internal-use software
Property, Plant and Equipment [Line Items]
Useful life		3 years
Maximum \| Computer equipment
Property, Plant and Equipment [Line Items]
Useful life		5 years
Maximum \| Capitalized internal-use software
Property, Plant and Equipment [Line Items]
Useful life		5 years

Summary of Significant Accounting Policies - Capitalized Internal-Use Software Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020	Feb. 28, 2019
Property, Plant and Equipment [Line Items]
Amortization expenses			$ 3,977	$ 4,382	$ 8,516	$ 9,391
Capitalized internal-use software
Property, Plant and Equipment [Line Items]
Useful life			3 years		3 years
Capitalized cost	$ 85	$ 0	$ 374	0	$ 3,005	1,943
Amortization expenses	$ 1,120	$ 1,054	$ 2,131	$ 2,431	$ 4,533	$ 5,836

Summary of Significant Accounting Policies - Intangible Assets (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020
Finite-Lived Intangible Assets [Line Items]
Amortization expense						$ 846
MD Insider Inc \| Technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	$ 2,900					$ 2,900
Estimated useful life	2 years					2 years
Amortization expense		$ 362	$ 121	$ 724	$ 121	$ 846

Summary of Significant Accounting Policies - Revenue and Deferred Revenue (Details) - USD ($) $ in Thousands	Aug. 31, 2020	Feb. 29, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue	$ 227,365	$ 164,552
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-03-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue		$ 111,741
Revenue remaining performance obligation satisfaction period		1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-09-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue	$ 77,630
Revenue remaining performance obligation satisfaction period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-03-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue		$ 42,461
Revenue remaining performance obligation satisfaction period		1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-03-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue	$ 104,703	$ 8,390
Revenue remaining performance obligation satisfaction period	1 year	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-03-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue	$ 35,033	$ 1,960
Revenue remaining performance obligation satisfaction period	1 year	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-03-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue	$ 9,999
Revenue remaining performance obligation satisfaction period	1 year

Summary of Significant Accounting Policies - Revenue and Deferred Revenue Narratives (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020	Feb. 28, 2019
Summary of Significant Accounting Policies
Contract with customer liability revenue recognized			$ 23,725	$ 19,225	$ 22,407	$ 9,637
Revenue related to performance obligations satisfied in prior periods	$ 1,535	$ 689	$ 3,014	$ 1,084	$ 4,479	$ 4,410

Summary of Significant Accounting Policies - Cost to obtain and fulfill a contract (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Aug. 31, 2020 USD ($)	Aug. 31, 2019 USD ($)	Aug. 31, 2020 USD ($) item	Aug. 31, 2019 USD ($)	Feb. 29, 2020 USD ($)	Feb. 28, 2019 USD ($)
Capitalized Contract Cost [Line Items]
Deferred amortization term	5 years		5 years		5 years
Impairment loss on deferred commission	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Selling and Marketing Expense [Member]
Capitalized Contract Cost [Line Items]
Amortization of contract cost	237,000	158,000	$ 470,000	314,000	665,000	377,000
Sales commission
Capitalized Contract Cost [Line Items]
Capitalized Contract Cost, Net					$ 1,495,000	1,832,000
Number of increments in which payment to sales person is made.			2		2
Sales commission paid upon signing of contract (as a percent)			75.00%		75.00%
Sales commission paid upon customer launch (as a percent)			25.00%		25.00%
Amortization of contract cost	$ 1,999,000	229,000	$ 2,502,000	523,000
Customer set up cost
Capitalized Contract Cost [Line Items]
Capitalized Contract Cost, Net					$ 904,000	667,000
Deferred amortization term	5 years		5 years		5 years
Amortization of contract cost	$ 110,000	$ 75,000	$ 270,000	$ 146,000	$ 320,000	$ 417,000

Summary of Significant Accounting Policies - Concentration of Credit Risk (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020	Feb. 28, 2019
Concentration Risk [Line Items]
Accounts receivable					$ 0	$ 0
Customer 3
Concentration Risk [Line Items]
Accounts receivable	$ 6,670		$ 6,670
Customer Concentration Risk \| Revenue [Member]
Concentration Risk [Line Items]
Revenue (as a percent)	37.00%	49.00%	40.00%	50.00%	68.00%	71.00%
Customer Concentration Risk \| Revenue [Member] \| Customer 1
Concentration Risk [Line Items]
Revenue (as a percent)	14.00%	27.00%	17.00%	27.00%	24.00%	35.00%
Customer Concentration Risk \| Revenue [Member] \| Customer 2
Concentration Risk [Line Items]
Revenue (as a percent)	12.00%	11.00%	12.00%	12.00%	13.00%	3.00%
Customer Concentration Risk \| Revenue [Member] \| Customer 3
Concentration Risk [Line Items]
Revenue (as a percent)	11.00%	11.00%	11.00%	11.00%	12.00%	14.00%
Customer Concentration Risk \| Revenue [Member] \| Customer 4
Concentration Risk [Line Items]
Revenue (as a percent)					10.00%	8.00%
Customer Concentration Risk \| Revenue [Member] \| Customer 5
Concentration Risk [Line Items]
Revenue (as a percent)					9.00%	11.00%

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2020	Feb. 29, 2020 USD ($)	Feb. 28, 2019 USD ($)
Impairment of Long Lived Assets
Impairment charges		$ 0	$ 0
Goodwill
Impairment charges		0
Reverse Stock Split
Reverse stock split	0.20
Income Taxes
Unrecognized benefits		0	0
Additions, reductions, or settlements during the year for unrecognized benefits		$ 0	$ 0

Summary of Significant Accounting Policies - Deferred Offering Costs (Details) - USD ($) $ in Thousands	Aug. 31, 2020	Feb. 29, 2020
Summary of Significant Accounting Policies
Deferred Offering Costs	$ 4,596	$ 3,042

Summary of Significant Accounting Policies - Unaudited Pro Forma Financial Information - (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		6 Months Ended		12 Months Ended
	May 31, 2020	Mar. 31, 2020	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020	Feb. 28, 2019	Jul. 08, 2020
Property, Plant and Equipment [Line Items]
Stock issued on conversion of convertible preferred stock			29,479,521		29,479,483		29,479,521
Common stock issuable upon the automatic net exercise of outstanding warrants					1,401,836
Share Price					$ 22.00
Proceeds under our term loan			$ 51,166	$ 1,660	$ 1,660	$ 3,000
Revolving credit facility
Property, Plant and Equipment [Line Items]
Proceeds from drawdown of revolving credit facility		$ 48,666
Term Loan
Property, Plant and Equipment [Line Items]
Proceeds under our term loan	$ 2,500

Acquisition of MD Insider (MDI) - Summary of Purchase Consideration (Details) - USD ($)			1 Months Ended				3 Months Ended		6 Months Ended	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Aug. 31, 2020	Jul. 31, 2020	Feb. 29, 2020	Jul. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2019	Feb. 29, 2020
Consideration Paid
Additional shares issued	100,607
Common stock
Consideration Paid
Fair value of equity issued										$ 5,114,000
Shares issued							97,019	279,436		289,320
MD Insider Inc
Consideration Paid
Cash consideration		$ 324,000
Fair value of equity issued		5,114,000								$ 1,050,000
Fair value of contingent consideration		1,050,000
Total consideration paid		6,488,000				$ 6,488,000				289,320
Aggregate purchase price consideration		$ 6,488,000				$ 6,488,000				289,320
Shares issued					289,320				386,339
Additional shares issued			96,487	100,607
Stock Available For Issuance			4,120
Acquisition related costs										$ 567,000
Maximum \| MD Insider Inc
Consideration Paid
Shares issued		462,691				462,691

Acquisition of MD Insider (MDI) - Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 29, 2020	Aug. 31, 2020	Jul. 31, 2019
Assets acquired:
Goodwill	$ 4,013	$ 4,013
Liabilities assumed:
Amortization period	2 years
Amortization expense	$ 846
MD Insider Inc
Assets acquired:
Cash and cash equivalents			$ 118
Accounts receivable			98
Prepaid expenses			5
Goodwill			4,013
Intangible assets			2,900
Other assets			17
Total assets acquired			7,151
Liabilities assumed:
Accounts payable			321
Accrued expenses and other current liabilities			342
Total liabilities assumed			663
Net assets acquired			$ 6,488

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Feb. 29, 2020	Feb. 28, 2019	Aug. 31, 2020
Property, Plant and Equipment, Net, by Type [Abstract]
Property and equipment, gross	$ 64,233	$ 60,229
Less accumulated depreciation	(50,608)	(44,955)
Total	13,625	15,274	$ 11,728
Depreciation and amortization expense	7,670	9,391
Accelerated depreciation	1,634
Write off of leasehold improvements and furniture/fixtures related to the termination of the Seattle lease	680
Loss on disposal of property	299
Software and Software Development Costs [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property and equipment, gross	35,867	32,862
Capitalized internal-use software
Property, Plant and Equipment, Net, by Type [Abstract]
Property and equipment, gross	8,829	10,275
Computer equipment
Property, Plant and Equipment, Net, by Type [Abstract]
Property and equipment, gross	9,383	7,828
Office Equipment, Furniture And Leasehold Improvements [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property and equipment, gross	8,903	8,012
Assets Held under Capital Leases [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property and equipment, gross	$ 1,251	$ 1,252

Accrued Expenses and Accrued Compensation (Details) - USD ($) $ in Thousands	Aug. 31, 2020	Feb. 29, 2020	Feb. 28, 2019
Accrued Expenses and Accrued Compensation
Accrued professional and consulting fees		$ 3,375	$ 755
Accrued software, hardware, and communication costs		228	154
Accrued litigation matter		1,100	1,100
Accrued taxes		512	335
Accrued other		1,365	796
Total	$ 2,631	$ 6,580	$ 3,140

Accrued Expenses and Accrued Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Feb. 29, 2020	Feb. 28, 2019	May 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accrued bonus expense related to bonuses earned	$ 5,884
Fair value of the common stock (in dollars per share)			$ 17.50
Grant date fair value per stock option	$ 10.88
Expected volatility	50.00%
Expected term	6 years 3 months	6 years 3 months
Payroll withholding taxes payable related to the exercise of nonqualified stock options	$ 4,905
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	78.40%
Expected term	5 years
Risk free interest rate	0.30%

Fair Value Measurements (Details) - USD ($) $ in Thousands	Aug. 31, 2020	Feb. 29, 2020	Feb. 28, 2019
Cash equivalents:
Fair value		$ 21,332
Level 1
Cash equivalents:
Fair value		21,332
Money Market Funds
Cash equivalents:
Fair value	$ 212,221	21,332	$ 28,661
Money Market Funds \| Level 1
Cash equivalents:
Fair value	$ 212,221	21,332	$ 28,661
Certificates of Deposit
Cash equivalents:
Fair value		5,000
Certificates of Deposit \| Level 1
Cash equivalents:
Fair value		$ 5,000

Debt facility (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended		6 Months Ended		12 Months Ended
	May 31, 2020	Jul. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020	Feb. 28, 2019	Jan. 30, 2018	Jan. 30, 2017
Debt Instrument [Line Items]
Number of Securities Called by Warrants or Rights							1,401,836
Principal outstanding							$ 22,000	$ 20,000
Interest Rate	8.00%
Debt issuance cost							1,129	800
Accrued interest payable in kind							273
Proceeds under our term loan					$ 51,166	$ 1,660	1,660	3,000
Term Loan
Debt Instrument [Line Items]
Debt Instrument, Face Amount										$ 20,000
Maximum Borrowing Capacity	$ 24,500	$ 22,000								20,000
Principal outstanding		$ 22,000					$ 22,000	20,000
Interest Rate		10.00%	11.75%		11.75%		11.75%
Debt issuance cost							$ 634
Debt discount							429
Line of Credit Facility, Additional Borrowing Capacity	$ 2,500	$ 2,000
Interest Payable in Kind Accrued Rate	4.50%	2.00%
Debt instrument exit fee		1.00%
Accrued interest payable in kind							273
Interest Expense, Debt			$ 2,043	$ 647	$ 2,837	1,316	2,858	2,844
Amortization of Debt Issuance Costs and Discounts							$ 280	291
Proceeds under our term loan	$ 2,500
Term Loan \| Prepayment of Loan Occur on or Before December 31, 2020
Debt Instrument [Line Items]
Debt instrument exit fee	2.00%
Term Loan \| Prepayment of Loan Occur on or After December 31, 2020
Debt Instrument [Line Items]
Debt instrument exit fee	0.50%
Revolving Credit Facility, 2017
Debt Instrument [Line Items]
Debt Instrument, Face Amount										$ 20,000
Number of Securities Called by Warrants or Rights							22,288		11,144	11,144
Maximum Borrowing Capacity							$ 20,000	0
Debt issuance cost							61
Revolving Credit Facility, 2019
Debt Instrument [Line Items]
Number of Securities Called by Warrants or Rights		135,594
Maximum Borrowing Capacity		$ 50,000	80,000		80,000		80,000
Principal outstanding			48,666		48,666
Debt issuance cost			543		543		543
Line of Credit Facility, Additional Borrowing Capacity		$ 30,000
Interest Expense, Debt			$ 323	$ 65	$ 880	$ 71	273	72
Amortization of Debt Issuance Costs and Discounts							$ 195	$ 31
Term Loan Warrants
Debt Instrument [Line Items]
Number of Securities Called by Warrants or Rights							43,542
Exercise price of warrants							$ 0.005
Vesting percentage							100.00%
Term of warrants							10 years
Fair value of the warrants							$ 182

Debt facility - Long-Term Debt (Details) - USD ($) $ in Thousands	Feb. 29, 2020	Feb. 28, 2019
Debt Facility
Principal outstanding	$ 22,000	$ 20,000
Interest Payable in Kind	273
Unamortized issuance costs	(1,129)	(800)
Long-term Debt	$ 21,144	$ 19,200

Debt facility - Warrant Rights (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended		12 Months Ended
	Apr. 20, 2018	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020	Feb. 28, 2019	Jul. 31, 2019	Jan. 30, 2018	Jan. 30, 2017
Debt Instrument [Line Items]
Long-term Debt						$ 21,144	$ 19,200
Number of Securities Called by Warrants or Rights						1,401,836
Debt issuance cost						$ 1,129	800
Long-term Line of Credit		$ 1,334		$ 1,334		1,334
Other Assets
Debt Instrument [Line Items]
Debt Issuance Costs, Net		233	$ 512	233	$ 512	372	23
Revolving Credit Facility, 2017
Debt Instrument [Line Items]
Maximum Borrowing Capacity						$ 20,000	0
Minimum funds raised	$ 45,000
Number of Securities Called by Warrants or Rights						22,288			11,144	11,144
Debt issuance cost						$ 61
Term of debt						24 months
Revolving Credit Facility, 2019
Debt Instrument [Line Items]
Maximum Borrowing Capacity		80,000		80,000		$ 80,000		$ 50,000
Additional Borrowing Capacity								$ 30,000
Long-term Debt		0		0		48,666
Number of Securities Called by Warrants or Rights								135,594
Debt issuance cost		543		$ 543		$ 543
Term of debt				24 months		24 months
Extension term of debt				12 months		12 months
Interest Expense, Debt		$ 323	$ 65	$ 880	$ 71	$ 273	72
Amortization of Debt Issuance Costs and Discounts						$ 195	$ 31
Lending Institution Prime Reference Rate \| Revolving Credit Facility, 2017
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate						1.00%
LIBOR \| Revolving Credit Facility, 2017
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate						2.50%
London Interbank Offered Rate \| Revolving Credit Facility, 2019
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate				3.50%		3.50%
Base Rate \| Revolving Credit Facility, 2019
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate				2.50%		2.50%

Stockholders' Equity - Convertible Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	Aug. 31, 2020	Jul. 08, 2020	Feb. 29, 2020	Feb. 28, 2019
Class of Stock [Line Items]
Par Value	$ 0.0001		$ 0.0001
Preferred stock, shares authorized	25,000,000		25,000,000	19,513,996
Preferred stock, shares issued	0		19,513,939	18,640,901
Preferred stock, shares outstanding	0		19,513,939	18,640,901
Carrying value			$ 233,022	$ 214,664
Preferred stock, liquidation value			$ 239,244
Shares issued on conversion of convertible preferred stock	29,479,521	29,479,521	29,479,483
Series A One Convertible Preferred Stock
Class of Stock [Line Items]
Par Value			$ 0.0001
Preferred stock, shares authorized			3,560,000
Preferred stock, shares issued			3,559,995
Preferred stock, shares outstanding			3,559,995
Carrying value			$ 10,000
Preferred stock, liquidation value			$ 10,000
Series A Two Convertible Preferred Stock
Class of Stock [Line Items]
Par Value			$ 0.0001
Preferred stock, shares authorized			2,579,999
Preferred stock, shares issued			2,579,994
Preferred stock, shares outstanding			2,579,994
Carrying value			$ 10,000
Preferred stock, liquidation value			$ 10,000
Series B Convertible Preferred Stock
Class of Stock [Line Items]
Par Value			$ 0.0001
Preferred stock, shares authorized			4,058,736
Preferred stock, shares issued			4,058,731
Preferred stock, shares outstanding			4,058,731
Carrying value			$ 16,944
Preferred stock, liquidation value			$ 16,944
Series C Convertible Preferred Stock
Class of Stock [Line Items]
Par Value			$ 0.0001
Preferred stock, shares authorized			601,160
Preferred stock, shares issued			601,151
Preferred stock, shares outstanding			601,151
Carrying value			$ 7,000
Preferred stock, liquidation value			$ 7,000
Series D Convertible Preferred Stock
Class of Stock [Line Items]
Par Value			$ 0.0001
Preferred stock, shares authorized			1,751,874
Preferred stock, shares issued			1,751,871
Preferred stock, shares outstanding			1,751,871
Carrying value			$ 30,000
Preferred stock, liquidation value			$ 30,000
Series E Convertible Preferred Stock
Class of Stock [Line Items]
Par Value			$ 0.0001
Preferred stock, shares authorized			6,089,189
Preferred stock, shares issued			6,089,159
Preferred stock, shares outstanding			6,089,159
Carrying value			$ 140,720
Preferred stock, liquidation value			$ 145,300
Series F Convertible Preferred Stock
Class of Stock [Line Items]
Par Value			$ 0.0001
Preferred stock, shares authorized			873,038
Preferred stock, shares issued			873,038
Preferred stock, shares outstanding			873,038
Carrying value			$ 18,358
Preferred stock, liquidation value			$ 20,000

Stockholders' Equity - Additional Information (Details) $ / shares in Units, $ in Thousands	1 Months Ended		2 Months Ended	3 Months Ended		12 Months Ended
	Oct. 31, 2018 USD ($) $ / shares shares	Mar. 31, 2018 USD ($) $ / shares shares	Aug. 31, 2020 USD ($)	Aug. 31, 2020 USD ($)	Aug. 31, 2019 USD ($)	Feb. 29, 2020 USD ($) Vote $ / shares shares	Feb. 28, 2019 USD ($)
Class of Stock [Line Items]
Proceeds from sale of preferred stock, net			$ 231,229			$ 19,943	$ 49,933
Issuance costs				$ 4,596
Number of Securities Called by Warrants or Rights \| shares						1,401,836
Issuance of common stock warrants in connection with sale of preferred stock					$ 779	$ 1,585	2,279
Minimum public offering price to automatically convert preferred stock to common stock (in USD / share) \| $ / shares						$ 47.7239
Minimum net proceeds from public offering to automatically convert preferred stock to common stock						$ 75,000
Dividends declared \| $ / shares						$ 0
Dividends paid \| $ / shares						$ 0
Number of votes for preferred stock holders based on common stock into which their preferred stock could then be converted \| Vote						1
Series E Convertible Preferred Stock
Class of Stock [Line Items]
Issuance of common stock in initial public offering, net of issuance costs of $4,596 (shares) \| shares		2,095,365
Price per share \| $ / shares		$ 23.86195
Proceeds from sale of preferred stock, net		$ 49,933
Issuance costs		$ 67
Number of Securities Called by Warrants or Rights \| shares		541,159
Exercise price of warrants \| $ / shares		$ 0.0005
Term of warrants		10 years
Fair value of the warrants		$ 2,387
Issuance of common stock warrants in connection with sale of preferred stock							$ 2,279
Series F Convertible Preferred Stock
Class of Stock [Line Items]
Issuance of common stock in initial public offering, net of issuance costs of $4,596 (shares) \| shares	873,038
Price per share \| $ / shares	$ 22.9085
Proceeds from sale of preferred stock, net	$ 19,943
Issuance costs	$ 57
Number of Securities Called by Warrants or Rights \| shares	85,000
Exercise price of warrants \| $ / shares	$ 0.0005
Term of warrants	10 years
Fair value of the warrants	$ 1,590
Issuance of common stock warrants in connection with sale of preferred stock						$ 1,585
Amount allocated to preferred stock						$ 18,358

Stock Options and Warrants - Shares (Details) - Stock Option - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Aug. 31, 2020	Aug. 31, 2020	Feb. 29, 2020	Feb. 28, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options issued	525,907
Weighted average grant date fair value				$ 5.40	$ 2.95
Aggregate intrinsic value of stock options		$ 5,676	$ 7,806	$ 22,033	$ 305
Unrecognized compensation expense		$ 27,203	$ 27,203	$ 12,353
Weighted average period			2 years 2 months 12 days	2 years 1 month 6 days
2007 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized to be issued				13,116,991
Term of option				10 years
Vesting period				4 years
Common stock available for future grants				941,887
2007 Plan \| Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				1 year
Vesting percentage				25.00%
2007 Plan \| Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				3 years
Vesting percentage				75.00%

Stock Options and Warrants - Compensation expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020	Feb. 28, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Compensation expense	$ 2,105	$ 1,895	$ 3,364	$ 3,331	$ 6,002	$ 5,721
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Compensation expense	218	103	327	175	318	255
Product and technology
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Compensation expense	718	491	1,152	852	1,674	1,108
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Compensation expense	490	475	792	822	1,482	1,199
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Compensation expense	$ 679	$ 826	$ 1,093	$ 1,482	$ 2,528	$ 3,159

Stock Options and Warrants - Fair value of common stock (Details) - $ / shares	12 Months Ended
	Feb. 29, 2020	Feb. 28, 2019	May 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price			$ 17.50
Expected volatility	50.00%
Expected term (in years)	6 years 3 months	6 years 3 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated fair value of common stock	$ 9.55	$ 3.35
Exercise price	$ 18.70	$ 6.75
Expected volatility		50.00%
Riskfree interest rate	2.62%	2.94%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated fair value of common stock	$ 4.80	$ 2.40
Exercise price	$ 9.60	$ 4.70
Expected volatility		46.00%
Riskfree interest rate	1.67%	2.65%

Stock Options and Warrants - Award Option (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Feb. 29, 2020 USD ($) $ / shares shares	Feb. 28, 2019 shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Balance, February 29, 2020 \| shares	8,147,544	6,970,591
Granted \| shares	2,084,046	1,635,115
Exercised \| shares	(1,843,001)	(249,027)
Forfeited \| shares	(392,533)	(209,135)
Balance, August 31, 2020 \| shares	7,996,056	8,147,544
Vested and expected to vest as of February 29, 2020 \| shares	7,996,056
Exercisable as of February 29, 2020 \| shares	4,579,458
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Balance, February 29, 2020 \| $ / shares
Granted \| $ / shares	$ 10.80
Exercised \| $ / shares	3.70
Forfeited \| $ / shares	5.70
Balance, August 31, 2020 \| $ / shares	6.19
Vested and expected to vest as of February 29, 2020 \| $ / shares	6.20
Exercisable as of February 29, 2020 \| $ / shares	$ 4.35
Weighted remaining contractual life in years	7 years
Vested and expected to vest as of February 29, 2020	7 years
Exercisable as of February 29, 2020	5 years 7 months 6 days
Balance, February 29, 2020 \| $	$ 73,631
Vested and expected to vest as of February 29, 2020 \| $	73,631
Exercisable as of February 29, 2020 \| $	$ 50,573

Stock Options and Warrants - Equity Instrument (Details) - $ / shares	6 Months Ended	12 Months Ended
	Aug. 31, 2020	Feb. 29, 2020	Feb. 28, 2019
Class of Warrant or Right [Roll Forward]
Balance, February 29, 2020	1,653,268	1,466,043	928,945
Issued		220,594	541,159
Exercised		(33,369)	(4,061)
Balance, August 31, 2020		1,653,268	1,466,043
Exercisable		1,653,268
Common stock warrants
Class of Warrant or Right [Roll Forward]
Balance, February 29, 2020	1,653,268
Exercised	(160,000)
Balance, August 31, 2020	0	1,653,268
Minimum
Class of Warrant or Right [Roll Forward]
Exercise price (in dollars per share)		$ 0.0005
Maximum
Class of Warrant or Right [Roll Forward]
Exercise price (in dollars per share)		$ 23.75

Stock Options and Warrants - Warrant Rights (Details) - USD ($) $ / shares in Units, $ in Thousands					1 Months Ended	2 Months Ended	12 Months Ended
	Jul. 08, 2020	Jul. 07, 2020	Jul. 29, 2015	Jun. 29, 2015	Mar. 31, 2020	Aug. 31, 2020	Feb. 29, 2020	Feb. 28, 2019
Class of Warrant or Right [Line Items]
Number of Securities Called by Warrants or Rights							1,401,836
Exercisable							1,653,268
Conversion of Stock, Shares Issued	1,401,836	1,401,836				1,401,836
Common stock warrants
Class of Warrant or Right [Line Items]
Number of Securities Called by Warrants or Rights							1,653,268	1,466,043
Maximum
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)							$ 23.75
Minimum
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)							$ 0.0005
Series E Warrants [Member] \| Common stock warrants
Class of Warrant or Right [Line Items]
Number of Securities Called by Warrants or Rights							1,129,114	1,162,483
Exercise price (in dollars per share)							$ 0.0005
Series F Warrants [Member] \| Common stock warrants
Class of Warrant or Right [Line Items]
Number of Securities Called by Warrants or Rights							85,000
Exercise price (in dollars per share)							$ 0.0005
Customer Warrant \| Common stock warrants
Class of Warrant or Right [Line Items]
Number of Securities Called by Warrants or Rights			200,000	200,000			160,000	160,000
Exercisable			160,000	160,000
Vested and exercisable							160,000	120,000
Shares issued					160,000
Exercise price (in dollars per share)							$ 13.75
Lender Warrant \| Common stock warrants
Class of Warrant or Right [Line Items]
Number of Securities Called by Warrants or Rights							279,154	143,560
Lender Warrant \| Maximum \| Common stock warrants
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)							$ 23.75
Lender Warrant \| Minimum \| Common stock warrants
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)							$ 0.005
Term Loan Warrants
Class of Warrant or Right [Line Items]
Number of Securities Called by Warrants or Rights							43,542
Exercise price (in dollars per share)							$ 0.005
Fair value of the warrants							$ 182
Vesting percentage							100.00%
Term Loan Warrants \| Common stock warrants
Class of Warrant or Right [Line Items]
Number of Securities Called by Warrants or Rights							86,600
Exercise price (in dollars per share)							$ 9.60
Fair value of the warrants							$ 528
Vesting percentage							100.00%
Term of option							10 years
The 2019 Revolver Warrants [Member] \| Common stock warrants
Class of Warrant or Right [Line Items]
Fair value of the warrants							$ 251
Vesting percentage							100.00%
Term of option							10 years
The 2019 Revolver Warrants [Member] \| Maximum \| Common stock warrants
Class of Warrant or Right [Line Items]
Number of Securities Called by Warrants or Rights							12,631
Exercise price (in dollars per share)							$ 23.75
The 2019 Revolver Warrants [Member] \| Minimum \| Common stock warrants
Class of Warrant or Right [Line Items]
Number of Securities Called by Warrants or Rights							36,363
Exercise price (in dollars per share)							$ 13.75

Defined Contribution Retirement Plan - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 29, 2020	Feb. 28, 2019
Defined Contribution Retirement Plan
Maximum annual contributions per employee (as a percent)	3.00%
Maximum annual contributions per employee	$ 100
Number of years of service during which employers matching contributions vests	4 years
Number of years of service during which employers discretionary profit sharing contributions vests	4 years
Expenses related to matching contributions	$ 1,356	$ 1,260

Income Taxes - Components of loss before income taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020	Feb. 28, 2019
Income Taxes
Domestic					$ (51,795)	$ (56,586)
Foreign					558	144
Total	$ (15,353)	$ (15,012)	$ (29,275)	$ (30,892)	$ (51,236)	$ (56,441)

Income Taxes - Significant components of income taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020	Feb. 28, 2019
Currently payable:
Foreign					$ 129	$ 55
Total currently payable					129	55
Provision (benefit) for income taxes	$ 18	$ 14	$ 56	$ 37	$ 129	$ 55

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Income Taxes - Reconciliation of income tax expense at U.S. Federal statutory income tax rate (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020	Feb. 28, 2019
Income Taxes
Federal income tax expense at statutory tax rate	0.10%	0.10%	0.20%	0.10%	21.00%	21.00%
State income taxes, net of federal tax benefit					7.50%	6.00%
Stock based compensation					3.90%	(2.10%)
Transaction costs					(0.20%)	0.00%
Changes in valuation allowances					(31.40%)	(24.80%)
Other					(1.00%)	(0.20%)
Effective Income Tax Rate					(0.20%)	(0.10%)

Income Taxes - Significant components of the Company's deferred tax assets and liabilities (Details) - USD ($) $ in Thousands	Feb. 29, 2020	Feb. 28, 2019	Feb. 28, 2018
Deferred tax assets:
Net operating loss and tax credit carryforwards	$ 76,508	$ 55,664
Other accruals and reserves	3,413	3,529
Stockbased compensation	561	491
Deferred rent	1,280	1,066
Interest expense deduction limitation carryforward	1,549	742
Intangibles		19
Property, plant & equipment	526	252
Other	355	139
Valuation allowance	(83,640)	$ (61,902)	$ (47,908)
Deferred tax assets	552
Deferred tax liabilities:
Intangibles	(552)
Deferred tax liabilities	$ (552)

Income Taxes - Operating loss carryforwards (Details) $ in Thousands	Feb. 29, 2020 USD ($)
Operating Loss Carryforwards [Line Items]
Deferred tax asset for operating loss carryforwards expiring in years 2030 through 2037	$ 53,184
Deferred tax asset for operating loss carryforwards that have indefinite expiration	22,923
U.S. federal
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	272,804
U.S. states
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 258,875

Income Taxes - Tax credit carryforwards (Details) $ in Thousands	Feb. 29, 2020 USD ($)
Research and development
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	$ 401

Income Taxes - Changes in deferred tax, valuation allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 29, 2020	Feb. 28, 2019
Changes in deferred tax, valuation allowance
Balance at the beginning of the period	$ 61,902	$ 47,908
(Decrease) increase due to NOLs and temporary differences	16,100	13,994
(Decrease) increase due to acquisitions	5,638
Balance at the end of the period	$ 83,640	$ 61,902

Income Taxes - Additional Information (Details)	8 Months Ended	12 Months Ended
Income Taxes - Additional Information (Details)	Aug. 31, 2020	Feb. 29, 2020	Dec. 31, 2019	Feb. 28, 2019
Income Taxes
Percentage of deductions from adjustable taxable income	50.00%	50.00%	30.00%	30.00%

Net Loss Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Aug. 31, 2020	May 31, 2020	Aug. 31, 2019	May 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020	Feb. 28, 2019
Net Loss Per Share Attributable to Common Stockholders
Net loss	$ (15,371)	$ (13,960)	$ (15,026)	$ (15,903)	$ (29,331)	$ (30,929)	$ (51,365)	$ (56,496)
Net loss per share attributable to common stockholders, basic and diluted	$ (0.47)		$ (2.82)		$ (1.45)	$ (6.02)	$ (9.13)	$ (12.17)
Weighted-average shares used in computing net loss per share	33,029,147		5,336,501		20,277,416	5,141,047	5,626,713	4,641,256

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Subparagraph (SX 210.9-04(22))
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
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-Subparagraph (SX 210.5-03(20))
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Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Net Loss Per Common Share - Stock Options (Details) - shares	3 Months Ended		12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020	Feb. 28, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share	9,426,565	9,410,249	8,313,917	8,329,832
Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share	9,426,565	9,092,367	7,996,056	8,147,544
Common stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share		317,882	317,861	182,288

Net Loss Per Common Share - Proforma basic and diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Aug. 31, 2020	May 31, 2020	Aug. 31, 2019	May 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020	Feb. 28, 2019
Net Loss Per Common Share
Number of Securities Called by Warrants or Rights							1,401,836
IPO price							$ 22.00
Earnings Per Share, Pro Forma [Abstract]
Net loss	$ (15,371)	$ (13,960)	$ (15,026)	$ (15,903)	$ (29,331)	$ (30,929)	$ (51,365)	$ (56,496)
Deemed dividend attributable to preferred shareholders							(239,294)
Net Income (Loss) Available to Common Stockholders, Basic, Total							$ (290,609)
Weighted-average shares used in computing net loss per share	33,029,147		5,336,501		20,277,416	5,141,047	5,626,713	4,641,256
Weighted average shares used to compute pro forma net loss per common share, basic							34,633,452
Pro forma net loss per common share, basic							$ (8.39)
Weighted average shares used to compute pro forma net loss per common share, diluted							34,633,452
Pro forma net loss per common share, diluted							$ (8.39)
Pro forma
Earnings Per Share, Pro Forma [Abstract]
Pro forma adjustment to reflect conversion of convertible preferred stock							28,964,247
Pro forma adjustment to reflect automatic cashless exercise of warrants							42,492

Commitments - Future minimum lease payments (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 29, 2020	Feb. 28, 2019	Oct. 01, 2019
Other Commitments [Line Items]
Rent expense	$ 5,143	$ 4,294
Security deposits	477	$ 460
Fiscal years ending February 28(29),
2021	6,104
2022	6,580
2023	6,577
2024	6,625
2025	5,664
Thereafter	21,516
Total	53,066
Seattle Lease
Other Commitments [Line Items]
Payments for termination of lease	$ 142
Fiscal years ending February 28(29),
Total			$ 25,836

Commitments - Legal Proceedings (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2019	Feb. 29, 2020	Feb. 28, 2019
Loss Contingencies [Line Items]
Litigation settlement	$ 1,100
Certain former and current employees case
Loss Contingencies [Line Items]
Accrued litigation expense		$ 650	$ 450
Litigation settlement	$ 1,100

Change Healthcare Joint Development Agreement (Details) - USD ($)
$ / shares in Units, $ in Thousands

1 Months Ended

6 Months Ended

12 Months Ended

Jul. 31, 2020

Feb. 29, 2020

Aug. 31, 2020

Feb. 29, 2020

Feb. 28, 2019

Granted

2,084,046

1,635,115

Common stock issued in connection with joint development agreement

$ 3,869

Basis of Presentation and Significant Accounting Policies [Text Block]

(2) Basis of Presentation and Summary of Significant Accounting Policies

The Company’s significant accounting policies are disclosed in the audited financial statements for the year ended February 29, 2020 appearing in the Company’s Final Prospectus for our IPO, dated as of July 1, 2020 and filed with the Securities and Exchange Commission (the SEC) pursuant to Rule 424(b)(4) on July 2, 2020. Since the date of those audited financial statements, there have been no changes to the Company’s significant accounting policies, other than those detailed below.

(2) Basis of Presentation and Summary of Significant Accounting Policies (Continued)

(a) Basis of Presentation and Principles of Consolidation

(b) Unaudited Interim Financial Statements

The accompanying consolidated financial statements and the related footnote disclosures are unaudited. The unaudited consolidated interim financial statements have been prepared on the same basis as the annual audited consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s interim consolidated financial position as of August 31, 2020 and the results of its operations and its cash flows for the three and six months ended August 31, 2020 and 2019. The results for the three and six months ended August 31, 2020, are not necessarily indicative of results to be expected for the year ending February 28, 2021, any other interim periods, or any future year or period. The Company’s management believes that the disclosures are adequate to make the information presented not misleading when read in conjunction with the audited financial statements and accompanying notes for the year ended February 29, 2020.

Costs related to minor upgrades, minor enhancements, and maintenance activities are expensed as incurred. Costs incurred during the application development stage of the project are capitalized.

Internal-use software is included in property and equipment and is amortized on a straight-line basis over 3 years.

(d) Intangible Assets

(2) Basis of Presentation and Summary of Significant Accounting Policies (Continued)

(e) Concentration of Credit Risk

Significant customers are those which represent 10% or more of the Company’s revenue during the periods. For each significant customer, revenue as a percentage of total revenue was as follows:


	For the three months ended August 31,				For the six months ended August 31,
	2019		2020		2019		2020
Customer 1	27	%	14	%	27	%	17	%
Customer 2	11	%	12	%	12	%	12	%
Customer 3	11	%	11	%	11	%	11	%
Total	49	%	37	%	50	%	40	%

Accounts receivable outstanding related to these customers at August 31, 2020 was as follows:


	August 31, 2020
Customer 1	$	—
Customer 2		—
Customer 3		6,670

(f) Deferred Offering Costs

(g) New Accounting Pronouncements Not Yet Adopted

(2) Basis of Presentation and Summary of Significant Accounting Policies (Continued)

Maximum

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Estimated fair value of common stock

$ 9.55

$ 3.35

Joint Development Agreement and Data Licensing Agreement | Maximum

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Cumulative royalty payments

$ 2,500

Joint Development Agreement and Data Licensing Agreement | Change Healthcare Holdings

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

License agreement term (in years)

5 years

License agreement renewal term (in years)

5 years

Joint Development Agreement and Data Licensing Agreement | Change Healthcare Holdings | Restricted shares

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Granted

251,211

Estimated fair value of common stock

$ 15.40

Common stock issued in connection with joint development agreement

$ 3,869

Vested shares

75,363

150,727

Non-vested shares

100,484

Related Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 28, 2021	Feb. 29, 2020
Related Party Transaction [Line Items]
Revenues from the related customer	$ 31,556	$ 33,433
Outstanding accounts receivable from the related customer	$ 0	$ 0
Minimum
Related Party Transaction [Line Items]
Percentage of Company's outstanding stock owned by entities affiliated with one of the Company's significant customers		5.00%

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Aug. 31, 2020	May 31, 2020	Feb. 29, 2020	Aug. 31, 2019	May 31, 2019	Feb. 28, 2019	Feb. 28, 2018
Current assets:
Cash and cash equivalents	$ 222,111		$ 33,155			$ 42,701
Accounts receivable, net	10,661		294			371
Unbilled revenue	109		895			65
Current portion of deferred contract acquisition costs	1,709		1,368			908
Current portion of deferred financing fees	233		279
Prepaid and other current assets	8,014		12,944			2,840
Total current assets	242,837		48,935			46,885
Property and equipment, net	11,728		13,625			15,274
Goodwill	4,013		4,013
Acquired technology, net	1,329		2,054
Deferred contract acquisition costs	5,607		3,876			2,922
Other assets	1,363		745			681
Total assets	266,877		73,248			65,762
Current liabilities:
Accounts payable	3,811		5,273			2,454
Accrued expenses	2,631		6,580			3,140
Accrued compensation	24,488		23,838			19,612
Deferred rent and other current liabilities	491		674			541
Due to customers	4,741		4,674			8,511
Current portion of deferred revenue	32,773		28,919			22,407
Total current liabilities	68,935		69,958			56,665
Loans payable, net of unamortized issuance costs			21,144			19,200
Deferred rent and other noncurrent liabilities	5,516		5,523			5,353
Deferred revenue	322		396			501
Total liabilities	74,773		97,021			81,719
Convertible preferred stock :
Preferred stock par value $0.0001; 25,000,000 shares authorized; 0 and 19,513,939 issued and outstanding at August 31, 2020 and February 29, 2020, respectively			233,022			214,664
Commitments (note 11)
Stockholders' equity (deficit)
Common stock par value $0.0001; 500,000,000 shares authorized; 49,269,342 and 6,033,450 shares issued and outstanding at August 31, 2020 and February 29, 2020, respectively	5		2			1
Additional paid-in capital	542,298		64,071			38,881
Accumulated deficit	(350,199)		(320,868)			(269,503)
Total stockholders' equity (deficit)	192,104	$ (266,497)	(256,795)	$ (249,492)	$ (244,732)	(230,621)	$ (183,696)
Total liabilities, convertible preferred stock and stockholders' equity (deficit)	$ 266,877		$ 73,248			$ 65,762

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands	Aug. 31, 2020	Jul. 07, 2020	Feb. 29, 2020	Feb. 28, 2019
Condensed Consolidated Balance Sheets (unaudited)
Preferred stock, par value	$ 0.0001		$ 0.0001
Preferred stock, shares authorized	25,000,000		25,000,000	19,513,996
Preferred stock, shares issued	0		19,513,939	18,640,901
Preferred stock, shares outstanding	0		19,513,939	18,640,901
Preferred stock, liquidation value			$ 239,244
Common stock, par value	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000	500,000,000	65,000,000
Common stock, shares issued	49,269,342		6,033,450	3,616,549
Common stock, shares outstanding	49,269,342		6,033,450	3,616,549

Condensed Consolidated Statements of Operations (unaudited) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Aug. 31, 2020	May 31, 2020	Aug. 31, 2019	May 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020	Feb. 28, 2019
Condensed Consolidated Statements of Operations (unaudited)
Revenue	$ 36,788		$ 29,651		$ 72,682	$ 58,414	$ 132,507	$ 94,811
Cost of revenue, excluding depreciation and amortization	21,071		16,764		43,310	34,199	73,685	60,568
Operating expenses:
Product and technology	12,236		11,303		23,606	22,549	42,306	35,708
Sales and marketing	7,881		7,616		15,196	15,278	30,050	23,456
General and administrative	6,453		6,011		12,120	11,574	26,154	19,665
Depreciation and amortization	2,049		2,222		3,977	4,382	8,516	9,391
Total operating expenses	28,619		27,152		54,899	53,783	107,026	88,220
Loss from operations	(12,902)		(14,265)		(25,527)	(29,568)	(48,204)	(53,977)
Interest expense, net	(2,347)		(701)		(3,629)	(1,244)	(2,925)	(2,374)
Other expense	(104)		(46)		(119)	(80)	(107)	(90)
Loss before income taxes	(15,353)		(15,012)		(29,275)	(30,892)	(51,236)	(56,441)
Income tax expense	(18)		(14)		(56)	(37)	(129)	(55)
Net loss	$ (15,371)	$ (13,960)	$ (15,026)	$ (15,903)	$ (29,331)	$ (30,929)	$ (51,365)	$ (56,496)
Net loss per share, basic and diluted	$ (0.47)		$ (2.82)		$ (1.45)	$ (6.02)	$ (9.13)	$ (12.17)
Weighted-average common shares outstanding, basic and diluted	33,029,147		5,336,501		20,277,416	5,141,047	5,626,713	4,641,256

Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders' Deficit (unaudited) - USD ($) $ in Thousands	Convertible Preferred Stock	Common stock	Additional paid-in capital	Accumulated deficit	Total
Balance at Feb. 28, 2018	$ 167,010	$ 1	$ 29,310	$ (213,007)	$ (183,696)
Balance (shares) at Feb. 28, 2018	16,545,536	3,242,319
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock warrants in connection with July 2019 debt			2,279		2,279
Exercise of stock options and common stock warrants			1,002		1,002
Exercise of stock options and common stock warrants (shares)		253,087
Stock-based compensation expense			5,721		5,721
Net loss				(56,496)	(56,496)
Balance at Feb. 28, 2019	$ 214,664	$ 1	38,881	(269,503)	(230,621)
Balance (shares) at Feb. 28, 2019	18,640,901	3,616,549
Balance at Feb. 28, 2019	$ 214,664				$ 214,664
Balance (shares) at Feb. 28, 2019	18,640,901				18,640,901
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options and common stock warrants			356		$ 356
Exercise of stock options and common stock warrants (shares)	0	90,322
Stock-based compensation expense			1,436		1,436
Net loss				(15,903)	(15,903)
Balance at May. 31, 2019		$ 1	40,673	(285,406)	(244,732)
Balance (shares) at May. 31, 2019		3,706,871
Balance at May. 31, 2019	$ 214,664
Balance (shares) at May. 31, 2019	18,640,901
Balance at Feb. 28, 2019	$ 214,664	$ 1	38,881	(269,503)	(230,621)
Balance (shares) at Feb. 28, 2019	18,640,901	3,616,549
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss					(30,929)
Balance at Aug. 31, 2019		$ 1	50,939	(300,432)	(249,492)
Balance (shares) at Aug. 31, 2019		4,401,727
Balance at Feb. 28, 2019	$ 214,664				$ 214,664
Balance (shares) at Feb. 28, 2019	18,640,901				18,640,901
Balance at Aug. 31, 2019	$ 214,664
Balance (shares) at Aug. 31, 2019	18,640,901
Balance at Feb. 28, 2019	$ 214,664	$ 1	38,881	(269,503)	$ (230,621)
Balance (shares) at Feb. 28, 2019	18,640,901	3,616,549
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock in connection with acquisition			6,164		6,164
Issuance of common stock in connection with acquisition (shares)		289,320
Issuance of common stock warrants in connection with July 2019 debt			1,585		1,585
Exercise of stock options and common stock warrants		$ 1	6,791		6,792
Exercise of stock options and common stock warrants (shares)		1,876,370
Stock-based compensation expense			6,002		6,002
Net loss				(51,365)	(51,365)
Balance at Feb. 29, 2020	$ 233,022	$ 2	64,071	(320,868)	(256,795)
Balance (shares) at Feb. 29, 2020	19,513,939	6,033,450
Balance at Feb. 28, 2019	$ 214,664				$ 214,664
Balance (shares) at Feb. 28, 2019	18,640,901				18,640,901
Balance at Feb. 29, 2020	$ 233,022				$ 233,022
Balance (shares) at Feb. 29, 2020	19,513,939				19,513,939
Balance at May. 31, 2019		$ 1	40,673	(285,406)	$ (244,732)
Balance (shares) at May. 31, 2019		3,706,871
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock in connection with acquisition			6,164		6,164
Issuance of common stock in connection with acquisition (shares)		279,436
Issuance of common stock warrants in connection with July 2019 debt			779		779
Exercise of stock options and common stock warrants	$ 0	$ 0	1,428	0	1,428
Exercise of stock options and common stock warrants (shares)	0	415,420
Stock-based compensation expense			1,895		1,895
Net loss				(15,026)	(15,026)
Balance at Aug. 31, 2019		$ 1	50,939	(300,432)	(249,492)
Balance (shares) at Aug. 31, 2019		4,401,727
Balance at May. 31, 2019	$ 214,664
Balance (shares) at May. 31, 2019	18,640,901
Balance at Aug. 31, 2019	$ 214,664
Balance (shares) at Aug. 31, 2019	18,640,901
Balance at Feb. 29, 2020	$ 233,022	$ 2	64,071	(320,868)	(256,795)
Balance (shares) at Feb. 29, 2020	19,513,939	6,033,450
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options and common stock warrants			2,999		2,999
Exercise of stock options and common stock warrants (shares)		347,807
Stock-based compensation expense			1,259		1,259
Net loss				(13,960)	(13,960)
Balance at May. 31, 2020		$ 2	68,329	(334,828)	(266,497)
Balance (shares) at May. 31, 2020		6,381,257
Balance at Feb. 29, 2020	$ 233,022				$ 233,022
Balance (shares) at Feb. 29, 2020	19,513,939				19,513,939
Balance at May. 31, 2020	$ 233,022
Balance (shares) at May. 31, 2020	19,513,939
Balance at Feb. 29, 2020	$ 233,022	$ 2	64,071	(320,868)	$ (256,795)
Balance (shares) at Feb. 29, 2020	19,513,939	6,033,450
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss					(29,331)
Balance at Aug. 31, 2020		$ 5	542,298	(350,199)	192,104
Balance (shares) at Aug. 31, 2020		49,269,342
Balance at Feb. 29, 2020	$ 233,022				$ 233,022
Balance (shares) at Feb. 29, 2020	19,513,939				19,513,939
Balance at Aug. 31, 2020
Balance (shares) at Aug. 31, 2020					0
Balance at May. 31, 2020		$ 2	68,329	(334,828)	$ (266,497)
Balance (shares) at May. 31, 2020		6,381,257
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock in connection with acquisition			156		156
Issuance of common stock in connection with acquisition (shares)		97,019
Exercise of stock options and common stock warrants			1,726		1,726
Exercise of stock options and common stock warrants (shares)		383,575
Issuance of common stock in initial public offering, net of issuance costs of $4,596		$ 1	231,227		231,228
Issuance of common stock in initial public offering, net of issuance costs of $4,596 (shares)		11,526,134
Conversion of preferred stock into common stock		$ 2	233,020		233,022
Conversion of preferred stock into common stock (shares)		29,479,521
Automatic exercise of warrants into common stock in connection with initial public offering		1,401,836
Issuance of stock options to satisfy bonus obligation			5,735		5,735
Stock-based compensation expense			2,105		2,105
Net loss				(15,371)	(15,371)
Balance at Aug. 31, 2020		$ 5	$ 542,298	$ (350,199)	192,104
Balance (shares) at Aug. 31, 2020		49,269,342
Balance at May. 31, 2020	$ 233,022
Balance (shares) at May. 31, 2020	19,513,939
Increase (Decrease) in Temporary Equity [Roll Forward]
Conversion of preferred stock into common stock	$ (233,022)
Conversion of preferred stock into common stock (shares)	(19,513,939)
Balance at Aug. 31, 2020
Balance (shares) at Aug. 31, 2020					0

Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders' Deficit (unaudited) (Parenthetical) $ in Thousands	3 Months Ended
	Aug. 31, 2020 USD ($)
Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders' Deficit (unaudited)
Issuance costs	$ 4,596

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Cash flows from operating activities:
Net loss	$ (29,331)	$ (30,929)
Adjustments to reconcile net loss to net cash used in
Depreciation and amortization expense	3,977	4,382
Amortization of deferred contract acquisition costs	740	460
Noncash interest expense	1,316	265
Stock-based compensation expense	3,364	3,331
Changes in operating assets and liabilities:
Accounts receivable and unbilled revenue	(9,581)	149
Accounts payable and accrued expenses	(806)	409
Deferred contract acquisition costs	(2,812)	(712)
Deferred revenue and due to customer	3,847	4,824
Accrued compensation	6,580	(1,439)
Deferred rent and other liabilities	(212)	(157)
Other assets	(437)	(985)
Net cash used in operating activities	(23,355)	(20,402)
Cash flows from investing activities:
Capitalized software development costs	(374)
Purchases of property and equipment	(981)	(1,064)
Net cash acquired in acquisition of MD Insider		(206)
Earnout payments to MD Insider	(58)
Net cash used in investing activities	(1,413)	(1,270)
Cash flows from financing activities:
Proceeds from IPO, net of underwriters' discounts and commissions and offering costs	231,675
Proceeds from stock option and warrant exercises	4,802	1,241
Proceeds from borrowings on debt	51,166	1,660
Repayments of debt principal	(73,166)
Payments related to debt retirement	(753)
Net cash provided by financing activities	213,724	2,901
Net increase (decrease) in cash and cash equivalents	188,956	(18,771)
Cash and cash equivalents, beginning of period	33,155	42,701
Cash and cash equivalents, end of period	222,111	23,930
Supplemental cash flow information:
Interest paid	2,194	1,201
Fixed assets included in accounts payable	48	248
Other receivable related to stock option exercises	108	543
Income taxes paid	105	55
Offering costs included in accounts payable and accrued expenses	312
Bonus paid in the form of stock options	$ 5,735

Background

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Background

Background

(1) Background

(a) Business

(b) COVID-19

(1) Background

(a)Business

(b)Liquidity

Basis of Presentation and Summary of Significant Accounting Policies

6 Months Ended

Aug. 31, 2020

Basis of Presentation and Summary of Significant Accounting Policies

Basis of Presentation and Summary of Significant Accounting Policies

(2) Basis of Presentation and Summary of Significant Accounting Policies

(2) Basis of Presentation and Summary of Significant Accounting Policies (Continued)

(a) Basis of Presentation and Principles of Consolidation

(b) Unaudited Interim Financial Statements

Costs related to minor upgrades, minor enhancements, and maintenance activities are expensed as incurred. Costs incurred during the application development stage of the project are capitalized.

Internal-use software is included in property and equipment and is amortized on a straight-line basis over 3 years.

(d) Intangible Assets

(2) Basis of Presentation and Summary of Significant Accounting Policies (Continued)

(e) Concentration of Credit Risk

Significant customers are those which represent 10% or more of the Company’s revenue during the periods. For each significant customer, revenue as a percentage of total revenue was as follows:


	For the three months ended August 31,				For the six months ended August 31,
	2019		2020		2019		2020
Customer 1	27	%	14	%	27	%	17	%
Customer 2	11	%	12	%	12	%	12	%
Customer 3	11	%	11	%	11	%	11	%
Total	49	%	37	%	50	%	40	%

Accounts receivable outstanding related to these customers at August 31, 2020 was as follows:


	August 31, 2020
Customer 1	$	—
Customer 2		—
Customer 3		6,670

(f) Deferred Offering Costs

(g) New Accounting Pronouncements Not Yet Adopted

(2) Basis of Presentation and Summary of Significant Accounting Policies (Continued)

Revenue

6 Months Ended

Aug. 31, 2020

Revenue

Revenue

(3) Revenue

The Company earns revenue from its customers by providing personalized health guidance solutions to members. The Company’s solutions allow its members to interact with its Accolade Health Assistants and clinicians through various means of communication, including telephony and secure messaging and via its mobile application and member portal. The Company prices its personalized health guidance solutions using a recurring per-member-per-month fee (PMPM), typically with a portion of the fee calculated as the product of a fixed rate times the number of members (fixed PMPM fee), plus a variable PMPM fee calculated as the product of a variable rate times the number of members (variable PMPM fee). The fees associated with the variable PMPM fee can be earned through the achievement of performance metrics and/or the realization of healthcare cost savings resulting from the utilization of the Company’s services. Collectively, the fixed PMPM fee and variable PMPM fee are referred to as the total PMPM fee. The Company’s PMPM pricing varies by contract. In certain contracts, the maximum total PMPM fee varies during the contract term (total PMPM rate increases or decreases annually), while in other contracts, the total PMPM maximum fee is consistent over the term, yet the fixed and variable portions vary. For example, in certain contracts the fixed PMPM fee increases on an annual basis while the variable PMPM fee decreases on an annual basis, resulting in the same total PMPM fee throughout the term of the contract.

At contract inception, the Company assesses the type of services being provided and assesses the performance obligations in the contract. The Company’s contracts for personalized health guidance solutions generally include two performance obligations: stand ready services as discussed in the following sentence and reporting. The Company’s contracts include stand ready services to provide eligible participants with access to the Company’s services and to perform an unspecified quantity of interactions with members during the contract period. Accordingly, the Company’s services are generally viewed as stand ready performance obligations comprised of a series of distinct daily services that are substantially the same and have the same pattern of transfer. For the stand ready services, the Company satisfies these performance obligations over time and recognizes revenue related to its services as the services are provided using a measure of progress based upon the actual number of members eligible for the service during the respective period as a percentage of the estimated members expected to be eligible for the service over the term of the contract. The Company believes a measure of progress based on the number of members is the most appropriate measurement of control of the

(3) Revenue (Continued)

services being transferred to the customer as the amount of internal resources necessary to stand ready is directly correlated to the number of members who can use the services. In addition, the Company’s contracts may include additional add-on services as separate performance obligations that are also considered stand ready services. These add-on services have the same pattern of transfer and revenue recognition as discussed above.

As of August 31, 2020, $227,365 of revenue is expected to be recognized from remaining performance obligations and is expected to be recognized as follows:


Fiscal year ending February 28(29),
Remainder of 2021	$	77,630
2022		104,703
2023		35,033
2024		9,999
Total	$	227,365

Significant changes in the deferred revenue balances during the six months ended August 31, 2020 and 2019 were the result of recognized revenue of $23,725 and $19,225 respectively, that were previously included in deferred revenue.

Revenue related to performance obligations satisfied in prior periods that was recognized during the three months ended August 31, 2020 and 2019 was $1,535 and $689, respectively. Revenue related to performance obligations satisfied in prior periods that was recognized during the six months ended August 31, 2020 and 2019 was $3,014 and $1,084, respectively. These amounts relate to prior changes in estimates that were due to the inclusion of consideration that was previously constrained related to the Company’s achievement of healthcare cost savings.

Cost to obtain and fulfill a contract

The Company capitalizes sales commissions paid to internal sales personnel that are both incremental to the acquisition of customer contracts and recoverable. These costs are recorded as deferred contract acquisition costs in the accompanying consolidated balance sheets. The Company capitalized commission costs of $1,999 and $229 for the three months ended August 31, 2020 and 2019, respectively. The Company capitalized commission costs of $2,502 and $523 for the six months ended August 31, 2020 and 2019, respectively. The Company defers costs based on its sales compensation plans only if the commissions are incremental and would not have occurred absent the customer contract. Payments to direct sales personnel are typically made in two increments as follows: 75% upon signature of the contract, with the remaining 25% upon customer launch. The Company does not pay commissions on contract renewals.

Deferred commissions paid on the initial acquisition of a contract are amortized ratably over an estimated period of benefit of five years, which is the estimated customer life. The Company determined the period of amortization for deferred commissions by taking into consideration current customer contract terms, historical customer retention, and other factors. Amortization is included in sales and marketing expenses in the accompanying consolidated statements of operations and totaled $237 and $158 for the three months ended August 31, 2020 and 2019, respectively. Amortization is included in sales and marketing expenses in the accompanying consolidated statements of operations and totaled $470 and $314 for the six months ended August 31, 2020 and 2019, respectively. The Company periodically reviews deferred contract acquisition costs to determine whether events or changes in circumstances have occurred that could impact the estimated period of benefit. There were no impairment losses recorded during the periods presented.

(3) Revenue (Continued)

For certain customer contracts, the Company may incur direct and incremental costs related to customer set-up and implementation. The Company recorded deferred implementation costs of $166 and $138 for the three months ended August 31, 2020 and 2019, respectively. The Company recorded deferred implementation costs of $310 and $189 for the six months ended August 31, 2020 and 2019, respectively These implementation costs are deferred and amortized over the expected useful life of the Company’s customers, which is five years. Amortization is included in cost of revenues in the Company’s consolidated statements of operations and totaled $110 and $75 for the three months ended August 31, 2020 and 2019, respectively, and $270 and $146 for the six months ended August 31, 2020, respectively.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Acquisition of MD Insider

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Acquisition of MD Insider

(4) Acquisition of MD Insider

(3) Acquisition of MD Insider (MDI)


Consideration Paid
Cash consideration	$	324
Fair value of equity issued		5,114
Fair value of contingent consideration		1,050
Total consideration paid	$	6,488


Assets acquired:
Cash and cash equivalents	$	118
Accounts receivable		98
Prepaid expenses		5
Goodwill		4,013
Intangible assets		2,900
Other assets		17
Total assets acquired	$	7,151
Liabilities assumed:
Accounts payable	$	321
Accrued expenses and other current liabilities		342
Total liabilities assumed	$	663
Net assets acquired	$	6,488

Fair Value Measurements

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Fair Value Measurements

(5) Fair Value Measurements

The following table sets forth the fair value of the Company’s financial assets and within the fair value hierarchy:


	Level 1		Level 2		Level 3		Fair Value
Assets
Cash equivalents:
Money market funds	$	21,332	$	—	$	—	$	21,332
Certificates of deposit	$	5,000	$	—	$	—	$	5,000

	Level 1		Level 2		Level 3		Fair Value
Assets
Cash equivalents:
Money market funds	$	212,221	$	—	$	—	$	212,221

Also, the carrying value of the Company’s debt approximates fair value based on interest rates available for debt with similar terms at February 29, 2020.

(6) Fair Value Measurements

The following table sets forth the fair value of the Company’s financial assets and within the fair value hierarchy:


	February 28, 2019
	Level 1		Level 2		Level 3		Fair Value
Assets
Cash equivalents:
Money market funds	$	28,661	$	—	$	—	$	28,661


	February 29, 2020
	Level 1		Level 2		Level 3		Fair Value
Assets
Cash equivalents:
Money market funds	$	21,332	$	—	$	—	$	21,332

Also, the carrying value of the Company’s debt approximates fair value based on interest rates available for debt with similar terms at February 28, 2019 and February 29, 2020.

Debt Facility

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Debt Facility

(6) Debt Facility

(a) Term Loan and Revolving Credit Facility

Term Loan

Revolving Credit Facility

(6) Debt Facility (Continued)

The 2019 Revolver is collateralized by substantially all of the assets of the Company.

Current and long-term debt consisted of the following at February 29, 2020:


	February 29, 2020

Current - Interest payable – 2019 Revolver	$	—
Long-term
2019 Revolver	$	—
Term loan - principal outstanding	$	22,000
Interest payable-in-kind		273
Unamortized issuance costs		(1,129)
Total long-term	$	21,144

(7) Debt Facility

(a)Term Loan and Revolving Credit Facility

Term Loan

On January 30, 2017, the Company entered into two debt facilities, one of which was a $20,000 term loan (the Term Loan) and the other a $20,000 revolving credit facility (the 2017 Revolver).

Interest on the outstanding balance was payable monthly at a rate of 11.75%. Principal payments were scheduled to be made monthly beginning January 31, 2019, in equal installments calculated as 1/24th of the outstanding balance on December 31, 2018. However, the Company had the ability to extend the interest only period for an additional twelve months, subject to an additional fee and other conditions, which would extend the maturity date from December 31, 2020 to December 31, 2021. The Company committed to extend this interest only period, and the maturity date was extended to December 31, 2021. As a result, principal payments were scheduled to start January 2020. During July 2019, an amendment was entered into which eliminated monthly payments, with principal to be paid in full in December 2022.

Long-term debt consisted of the following at February 28, 2019 and February 29, 2020:


	February 28,		February 29,
	2019		2020
Principal outstanding	$	20,000	$	22,000
Interest payable‑in‑kind		—		273
Unamortized issuance costs		(800)		(1,129)
	$	19,200	$	21,144

During May 2020, the Company amended the Term Loan agreement, which resulted in additional borrowing availability of $2,500, all of which was drawn down at the time of execution of such amendment.

Revolving Credit Facility

The Company incurred issuance and other third-party costs of $61 related to the 2017 Revolver, which were deferred and were being amortized ratably over the term of the 2017 Revolver.

Both the Term Loan and 2019 Revolver are collateralized by substantially all of the assets of the Company.

Stockholders' Equity

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Stockholders' Equity

(7) Stockholders’ Equity

(a) Common Stock

(7) Stockholders’ Equity (Continued)

(b) Convertible Preferred Stock

(8) Stockholders’ Equity

(a)Convertible Preferred Stock

As of February 29, 2020, the authorized, issued and outstanding convertible preferred stock and their principal terms were as follows:


			Shares	Issued and	Carrying		Liquidation
Series	Par value		authorized	outstanding	amount		value
A‑1	$	0.0001	3,560,000	3,559,995	$	10,000	$	10,000
A‑2		0.0001	2,579,999	2,579,994		10,000		10,000
B		0.0001	4,058,736	4,058,731		16,944		16,944
C		0.0001	601,160	601,151		7,000		7,000
D		0.0001	1,751,874	1,751,871		30,000		30,000
E		0.0001	6,089,189	6,089,159		140,720		145,300
F		0.0001	873,038	873,038		18,358		20,000
			19,513,996	19,513,939	$	233,022	$	239,244

The preferred stockholders have the right to one vote for each share of common stock into which their preferred stock could then be converted.

Equity-based Compensation and Warrants

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Equity-based Compensation and Warrants

(8) Equity-based Compensation and Warrants

(a) Stock Options

The following table summarizes the amount of stock-based compensation included in the consolidated statements of operations:


	2019		2020		2019		2020
Cost of revenue	$	103	$	218	$	175	$	327
Product and technology		491		718		852		1,152
Sales and marketing		475		490		822		792
General and administrative		826		679		1,482		1,093
Total stock-based compensation	$	1,895	$	2,105	$	3,331	$	3,364

(8) Equity-based Compensation and Warrants (Continued)

The following is a summary of stock option activity under the Incentive Plan:


		Weighted		Weighted
		average		remaining		Aggregate
		exercise		contractual life		intrinsic
	Stock Options	price		in years		value
Balance, February 29, 2020	7,996,056	$	6.19
Granted	2,149,575		17.25
Exercised	(571,382)		4.42
Forfeited	(147,684)		6.12
Balance, August 31, 2020	9,426,565	$	8.82	7.4	years	$	223,660
Vested and expected to vest as of August 31, 2020	9,426,565	$	8.82	7.4	years	$	223,660
Exercisable as of August 31, 2020	5,499,412	$	6.19	6.3	years	$	150,792

(b) Common Stock Warrants

The following tables summarize the activity for the Company’s warrants for the six months ended August 31, 2020:


		Common Stock
		Warrants

Balance, February 29, 2020		1,653,268
Issued		—
Exercised		(160,000)
Automatic exercise of warrants in connection with IPO		(1,493,268)
Balance, August 31, 2020		—

(9) Stock Options and Warrants

(a)Stock Options

During the years ended February 28, 2019 and February 29, 2020, the Company recognized $5,721 and $6,002, respectively, of compensation expense related to stock options.

The following table summarizes the amount of stock-based compensation included in the consolidated statements of operations:


	Fiscal year
	2019		2020
Cost of revenue	$	255	$	318
Product and technology		1,108		1,674
Sales and marketing		1,199		1,482
General and administrative		3,159		2,528
Total stock‑based compensation	$	5,721	$	6,002

The Company did not capitalize any stock-based compensation expense to deferred costs for the years ended February 28, 2019 and February 29, 2020.


	Fiscal year
	2019							2020
Estimated fair value of common stock	$	2.40		-	$	3.35		$	4.80		-	$	9.55
Exercise price	$	4.70		-	$	6.75		$	9.60		-	$	18.70
Expected volatility		46	%	-		50	%						50	%
Expected term (in years)						6.25							6.25
Risk‑free interest rate		2.65	%	-		2.94	%		1.67	%	-		2.62	%
Dividend yield						—							—

The following is a summary of stock option activity under the Option Plan:


				Weighted
		Weighted‑		Remaining		Aggregate
		Average		Contractual		Intrinsic
	Stock Options	Exercise Price		Life In Years		Value
Balance, February 28, 2018	6,970,591
Granted	1,635,115
Exercised	(249,027)
Forfeited	(209,135)
Balance, February 28, 2019	8,147,544
Granted	2,084,046	$	10.80
Exercised	(1,843,001)	$	3.70
Forfeited	(392,533)	$	5.70
Balance, February 29, 2020	7,996,056	$	6.19	7.0	years	$	73,631
Vested and expected to vest as of February 29, 2020	7,996,056	$	6.20	7.0	years	$	73,631
Exercisable as of February 29, 2020	4,579,458	$	4.35	5.6	years	$	50,573

(b)Common Stock Warrants


	Common Stock		Exercise					Expiration
	Warrants	Exercisable	Price					Date
Balance, February 28, 2018	928,945
Issued	541,159
Exercised	(4,061)
Balance, February 28, 2019	1,466,043
Issued	220,594
Exercised	(33,369)
Balance, February 29, 2020	1,653,268	1,653,268	$	0.0005	-	$	23.75	April 2020 - October 2029


	Number of Warrants
	Outstanding at
	February 28/29,		Exercise
	2019	2020	Price					Expiration Date
Series E holders	1,162,483	1,129,114				$	0.0005	July 2026 - March 2028
Series F holders	—	85,000				$	0.0005	October 2029
Customer	160,000	160,000				$	13.75	April 2020
Lenders	143,560	279,154	$	0.005	-	$	23.75	Nov 2022 - July 2029
Total	1,466,043	1,653,268

Income Taxes

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Income Taxes

Income Taxes

(9) Income Taxes

(11) Income Taxes

Loss before income taxes consists of the following components:


	Fiscal year
	2019		2020
Domestic	$	(56,586)	$	(51,795)
Foreign		144		558
Total	$	(56,442)	$	(51,237)

Significant components of income taxes are as follows:


	Fiscal year
	2019		2020
Currently payable:
Federal	$	—	$	—
State and Local		—		—
Foreign		55		129
Total currently payable		55		129
Deferred:
Federal		—		—
State and Local		—		—
Foreign		—		—
Total deferred		—		—
Provision (benefit) for income taxes	$	55	$	129

A reconciliation of income tax expense at the U.S. Federal statutory income tax rate to actual income tax provision is as follows:


	Fiscal year
	2019		2020
Federal income tax expense at statutory tax rate	21.0	%	21.0	%
State income taxes, net of federal tax benefit	6.0		7.5
Stock‑based compensation	(2.1)		3.9
Transaction costs	0.0		(0.2)
Changes in valuation allowances	(24.8)		(31.4)
Other	(0.2)		(1.0)
Effective Income Tax Rate	(0.1)	%	(0.2)	%


	Fiscal year
	2019		2020
Deferred tax assets:
Net operating loss and tax credit carryforwards	$	55,664	$	76,508
Other accruals and reserves		3,529		3,413
Stock‑based compensation		491		561
Deferred rent		1,066		1,280
Interest expense deduction limitation carryforward		742		1,549
Intangibles		19		—
Property, plant & equipment		252		526
Other		139		355
Valuation allowance		(61,902)		(83,640)
Deferred tax assets		—		552
Deferred tax liabilities:
Intangibles		—		(552)
Deferred tax liabilities		—		(552)
Net deferred taxes	$	—	$	—

The changes in the valuation allowance were as follows:


	Fiscal year
	2019		2020
Balance at the beginning of the period	$	47,908	$	61,902
(Decrease) increase due to NOLs and temporary differences		13,994		16,100
(Decrease) increase due to acquisitions		—		5,638
Balance at the end of the period	$	61,902	$	83,640

The Company has recorded a deferred tax asset of $1,549 for interest expense limited under the Tax Act at February 29, 2020. The interest expense limited has an unlimited carryforward period.

Net Loss Per Share Attributable to Common Stockholders

Net Loss Per Share Attributable to Common Stockholders

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Net Loss Per Share Attributable to Common Stockholders

(10) Net Loss Per Share Attributable to Common Stockholders

The following table sets forth the computation of basic and diluted net loss per share attributable to Accolade’s common stockholders:


	2019		2020		2019		2020
Net loss	$	(15,026)	$	(15,371)	$	(30,929)	$	(29,331)
Weighted-average shares used in computing net loss per share		5,336,501		33,029,147		5,141,047		20,277,416
Net loss per share attributable to common stockholders, basic and diluted	$	(2.82)	$	(0.47)	$	(6.02)	$	(1.45)


	2019	2020
Stock options	9,092,367	9,426,565
Common stock warrants	317,882	—
Total	9,410,249	9,426,565

(12) Net Loss Per Common Share

The following table sets forth the computation of basic and diluted net loss per common share:


	Fiscal year
	2019		2020
Net loss	$	(56,496)	$	(51,365)
Net loss per common share, basic and diluted	$	(12.17)	$	(9.13)
Weighted‑average shares used to compute net loss per common share, basic and diluted		4,641,256		5,626,713


	Fiscal year
	2019	2020
Stock options	8,147,544	7,996,056
Common stock warrants	182,288	317,861
Total	8,329,832	8,313,917

Unaudited Pro Forma Net Loss Per Common Share

The following table sets forth the computation of the unaudited pro forma basic and diluted net loss per share:


	Fiscal Year Ended
	February 29,
	2020
Numerator:
Net loss	$	(51,365)
Deemed dividend attributable to preferred shareholders		(239,294)
Net loss attributable to common stockholders	$	(290,609)
Denominator:
Weighted‑average shares used to compute net loss per common share, basic and diluted		5,626,713
Pro forma adjustment to reflect conversion of convertible preferred stock		28,964,247
Pro forma adjustment to reflect automatic cashless exercise of warrants		42,492
Weighted‑average shares used to compute pro forma net loss per common share, basic and diluted		34,633,452
Pro forma net loss per common share, basic and diluted	$	(8.39)

Commitments

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Commitments

Commitments

(11) Commitments

(a) Legal Proceedings

(b) Employment Agreements

(13) Commitments

(a)Leases

The future aggregate minimum lease payments as of under all non-cancelable operating leases (including the Seattle lease discussed above) for the years noted are as follows:


Fiscal years ending February 28(29),
2021	$	6,104
2022		6,580
2023		6,577
2024		6,625
2025		5,664
Thereafter		21,516
	$	53,066

(b)Legal Proceedings

(c)Employment Agreements

Change Healthcare Joint Development Agreement

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Change Healthcare Joint Development Agreement

Change Healthcare Joint Development Agreement

(12) Change Healthcare Joint Development Agreement

(14) Change Healthcare Joint Development Agreement

In February 2020, the Company entered into a joint development agreement, or JDA, and a data licensing agreement with Change Healthcare Holdings, or Change Healthcare, whereby Change Healthcare will be a strategic partner in providing various services to support the Company’s Total Care and Provider Services product offerings. Pursuant to the terms of JDA, Change Healthcare is providing intellectual property (IP), technical know-how, and advisory services to the Company as it develops price transparency products under the JDA that will be utilized by the Company in several of its product offerings. Either party is permitted to sell the price transparency product within each party’s respective service offerings. Each party is entitled to a royalty from the other party in connection with any net sales associated with the price transparency product that was developed under the JDA, not to exceed $2,500 in cumulative royalty payments.

Upon entering into the JDA and data licensing agreement, the Company issued 251,211 restricted shares of its common stock to Change Healthcare at an estimated fair value of $15.40 per share, or $3,869 in aggregate value. Pursuant to the terms of the restricted share agreement, 150,727 of the shares vest immediately and the remaining 100,484 restricted shares will vest upon the achievement of certain product development milestones, as defined. The aggregate equity value was allocated to the JDA and data licensing agreement based on the relative fair value of the IP and technical know-how contributed by Change Healthcare within the JDA and the discounted pricing received from Change Healthcare within the data licensing agreement. Equity value allocated to the JDA and data licensing agreement is capitalized and deferred as internally developed software and other assets within the Company’s consolidated balance sheet, respectively with an offsetting increase to additional paid-in capital. Costs that are capitalized and classified as internally developed software will be amortized within depreciation and amortization in the Company’s consolidated statement of operations.

Subsequent Events

12 Months Ended

Feb. 29, 2020

Subsequent Events

Subsequent Events

(16) Subsequent Events

Basis of Presentation and Summary of Significant Accounting Policies (Policies)

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Basis of Presentation and Summary of Significant Accounting Policies

Covid-19

Initial Public Offering

Basis of Presentation and Principles of Consolidation

(a)Basis of Presentation and Principles of Consolidation

Unaudited interim financial statements

Use of Estimates

(b)Use of Estimates

Fair Value of Financial Instruments

(d)Fair Value of Financial Instruments

●

Level 1 — Quoted prices in active markets for identical assets or liabilities.

●

Level 3 — Inputs that are generally unobservable and typically reflect the Company’s estimate of assumptions that market participants would use in pricing the asset or liability.

Cash and Cash Equivalents

(e)	Cash and Cash Equivalents

Capitalized Internal-Use Software Costs

Costs related to minor upgrades, minor enhancements, and maintenance activities are expensed as incurred. Costs incurred during the application development stage of the project are capitalized.

Internal-use software is included in property and equipment and is amortized on a straight-line basis over 3 years.

(h)Capitalized Internal-Use Software Costs

Impairment of Long-Lived Assets

(i)Impairment of Long-Lived Assets

Intangible Assets

(j)Intangible Assets

Goodwill

(k)Goodwill

The Company’s annual goodwill impairment test resulted in no impairment charges in the fiscal year ended February 29, 2020.

Revenue and Deferred Revenue

(m)Revenue and Deferred Revenue

●

identification of the contract, or contracts, with a customer;

●

identification of the performance obligations in the contract;

●

determination of the transaction price;

●

allocation of the transaction price to the performance obligations in the contract; and

●

recognition of revenue when, or as, the Company satisfies a performance obligation

As of February 29, 2020, $164,552 of revenue is expected to be recognized from remaining performance obligations and is expected to be recognized as follows:


Fiscal periods ending February 28(29),
2021	$	111,741
2022		42,461
2023		8,390
2024		1,960
Total	$	164,552

Cost to obtain and fulfill a contract

Concentration of Credit Risk

Significant customers are those which represent 10% or more of the Company’s revenue during the periods. For each significant customer, revenue as a percentage of total revenue was as follows:


	For the three months ended August 31,				For the six months ended August 31,
	2019		2020		2019		2020
Customer 1	27	%	14	%	27	%	17	%
Customer 2	11	%	12	%	12	%	12	%
Customer 3	11	%	11	%	11	%	11	%
Total	49	%	37	%	50	%	40	%

Accounts receivable outstanding related to these customers at August 31, 2020 was as follows:


	August 31, 2020
Customer 1	$	—
Customer 2		—
Customer 3		6,670

(n)Concentration of Credit Risk

significant credit risk on cash and cash equivalents and perform periodic evaluations of the credit standing of such institutions.

Significant customers are those which represent 10% or more of the Company’s revenue during the period. For each significant customer, revenue as a percentage of total revenue was as follows:


	Fiscal Year Ended
	2019		2020
Customer 1	35	%	24	%
Customer 2	3	%	13	%
Customer 3	14	%	12	%
Customer 4	8	%	10	%
Customer 5	11	%	9	%
Total	71	%	68	%

There were no accounts receivable outstanding related to any of these customers at February 28, 2019 and February 29, 2020, respectively.

Segments

(s)Segments

As of February 28, 2019 and February 29, 2020, substantially all of Accolade’s long-lived assets were located in the United States, and all revenue was earned in the United States.

Deferred Offering Costs

(t)Deferred Offering Costs

New Accounting Pronouncements Not Yet Adopted

(2) Basis of Presentation and Summary of Significant Accounting Policies (Continued)

(u)New Accounting Pronouncements Not Yet Adopted

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Concentration Risk [Line Items]

Schedule of concentration of risk


	Fiscal Year Ended
	2019		2020
Customer 1	35	%	24	%
Customer 2	3	%	13	%
Customer 3	14	%	12	%
Customer 4	8	%	10	%
Customer 5	11	%	9	%
Total	71	%	68	%

Revenue [Member] | Customer Concentration Risk

Concentration Risk [Line Items]

Schedule of concentration of risk


	For the three months ended August 31,				For the six months ended August 31,
	2019		2020		2019		2020
Customer 1	27	%	14	%	27	%	17	%
Customer 2	11	%	12	%	12	%	12	%
Customer 3	11	%	11	%	11	%	11	%
Total	49	%	37	%	50	%	40	%

Accounts receivable [Member] | Credit Concentration Risk

Concentration Risk [Line Items]

Schedule of concentration of risk

Accounts receivable outstanding related to these customers at August 31, 2020 was as follows:


	August 31, 2020
Customer 1	$	—
Customer 2		—
Customer 3		6,670

Revenue (Tables)

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Revenue

Revenue expected to be recognized from remaining performance obligations


Fiscal year ending February 28(29),
Remainder of 2021	$	77,630
2022		104,703
2023		35,033
2024		9,999
Total	$	227,365


Fiscal periods ending February 28(29),
2021	$	111,741
2022		42,461
2023		8,390
2024		1,960
Total	$	164,552

Acquisition of MD Insider (Tables)

12 Months Ended

Feb. 29, 2020

Schedule of purchase consideration


Consideration Paid
Cash consideration	$	324
Fair value of equity issued		5,114
Fair value of contingent consideration		1,050
Total consideration paid	$	6,488

Schedule of estimated fair values of the assets acquired and liabilities assumed


Assets acquired:
Cash and cash equivalents	$	118
Accounts receivable		98
Prepaid expenses		5
Goodwill		4,013
Intangible assets		2,900
Other assets		17
Total assets acquired	$	7,151
Liabilities assumed:
Accounts payable	$	321
Accrued expenses and other current liabilities		342
Total liabilities assumed	$	663
Net assets acquired	$	6,488

Fair Value Measurements (Tables)

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Schedule of fair value of financial assets


	Level 1		Level 2		Level 3		Fair Value
Assets
Cash equivalents:
Money market funds	$	21,332	$	—	$	—	$	21,332
Certificates of deposit	$	5,000	$	—	$	—	$	5,000

	Level 1		Level 2		Level 3		Fair Value
Assets
Cash equivalents:
Money market funds	$	212,221	$	—	$	—	$	212,221


	February 28, 2019
	Level 1		Level 2		Level 3		Fair Value
Assets
Cash equivalents:
Money market funds	$	28,661	$	—	$	—	$	28,661


	February 29, 2020
	Level 1		Level 2		Level 3		Fair Value
Assets
Cash equivalents:
Money market funds	$	21,332	$	—	$	—	$	21,332

Debt facility (Tables)

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Schedule Of Debt


	February 29, 2020

Current - Interest payable – 2019 Revolver	$	—
Long-term
2019 Revolver	$	—
Term loan - principal outstanding	$	22,000
Interest payable-in-kind		273
Unamortized issuance costs		(1,129)
Total long-term	$	21,144


	February 28,		February 29,
	2019		2020
Principal outstanding	$	20,000	$	22,000
Interest payable‑in‑kind		—		273
Unamortized issuance costs		(800)		(1,129)
	$	19,200	$	21,144

Stockholders' Equity (Tables)

12 Months Ended

Feb. 29, 2020

Schedule of convertible preferred stock


			Shares	Issued and	Carrying		Liquidation
Series	Par value		authorized	outstanding	amount		value
A‑1	$	0.0001	3,560,000	3,559,995	$	10,000	$	10,000
A‑2		0.0001	2,579,999	2,579,994		10,000		10,000
B		0.0001	4,058,736	4,058,731		16,944		16,944
C		0.0001	601,160	601,151		7,000		7,000
D		0.0001	1,751,874	1,751,871		30,000		30,000
E		0.0001	6,089,189	6,089,159		140,720		145,300
F		0.0001	873,038	873,038		18,358		20,000
			19,513,996	19,513,939	$	233,022	$	239,244

Equity-based Compensation and Warrants (Tables)

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Schedule of stock-based compensation


	2019		2020		2019		2020
Cost of revenue	$	103	$	218	$	175	$	327
Product and technology		491		718		852		1,152
Sales and marketing		475		490		822		792
General and administrative		826		679		1,482		1,093
Total stock-based compensation	$	1,895	$	2,105	$	3,331	$	3,364


	Fiscal year
	2019		2020
Cost of revenue	$	255	$	318
Product and technology		1,108		1,674
Sales and marketing		1,199		1,482
General and administrative		3,159		2,528
Total stock‑based compensation	$	5,721	$	6,002

Schedule of weighted average assumptions


	Fiscal year
	2019							2020
Estimated fair value of common stock	$	2.40		-	$	3.35		$	4.80		-	$	9.55
Exercise price	$	4.70		-	$	6.75		$	9.60		-	$	18.70
Expected volatility		46	%	-		50	%						50	%
Expected term (in years)						6.25							6.25
Risk‑free interest rate		2.65	%	-		2.94	%		1.67	%	-		2.62	%
Dividend yield						—							—

Schedule of stock option activity


		Weighted		Weighted
		average		remaining		Aggregate
		exercise		contractual life		intrinsic
	Stock Options	price		in years		value
Balance, February 29, 2020	7,996,056	$	6.19
Granted	2,149,575		17.25
Exercised	(571,382)		4.42
Forfeited	(147,684)		6.12
Balance, August 31, 2020	9,426,565	$	8.82	7.4	years	$	223,660
Vested and expected to vest as of August 31, 2020	9,426,565	$	8.82	7.4	years	$	223,660
Exercisable as of August 31, 2020	5,499,412	$	6.19	6.3	years	$	150,792


				Weighted
		Weighted‑		Remaining		Aggregate
		Average		Contractual		Intrinsic
	Stock Options	Exercise Price		Life In Years		Value
Balance, February 28, 2018	6,970,591
Granted	1,635,115
Exercised	(249,027)
Forfeited	(209,135)
Balance, February 28, 2019	8,147,544
Granted	2,084,046	$	10.80
Exercised	(1,843,001)	$	3.70
Forfeited	(392,533)	$	5.70
Balance, February 29, 2020	7,996,056	$	6.19	7.0	years	$	73,631
Vested and expected to vest as of February 29, 2020	7,996,056	$	6.20	7.0	years	$	73,631
Exercisable as of February 29, 2020	4,579,458	$	4.35	5.6	years	$	50,573

Schedule of warrants


		Common Stock
		Warrants

Balance, February 29, 2020		1,653,268
Issued		—
Exercised		(160,000)
Automatic exercise of warrants in connection with IPO		(1,493,268)
Balance, August 31, 2020		—


	Common Stock		Exercise					Expiration
	Warrants	Exercisable	Price					Date
Balance, February 28, 2018	928,945
Issued	541,159
Exercised	(4,061)
Balance, February 28, 2019	1,466,043
Issued	220,594
Exercised	(33,369)
Balance, February 29, 2020	1,653,268	1,653,268	$	0.0005	-	$	23.75	April 2020 - October 2029


	Number of Warrants
	Outstanding at
	February 28/29,		Exercise
	2019	2020	Price					Expiration Date
Series E holders	1,162,483	1,129,114				$	0.0005	July 2026 - March 2028
Series F holders	—	85,000				$	0.0005	October 2029
Customer	160,000	160,000				$	13.75	April 2020
Lenders	143,560	279,154	$	0.005	-	$	23.75	Nov 2022 - July 2029
Total	1,466,043	1,653,268

Net Loss Per Share Attributable to Common Stockholders (Tables)

6 Months Ended

12 Months Ended

Aug. 31, 2020

Feb. 29, 2020

Net Loss Per Share Attributable to Common Stockholders

Schedule of computation of basic and diluted net loss per share


	2019		2020		2019		2020
Net loss	$	(15,026)	$	(15,371)	$	(30,929)	$	(29,331)
Weighted-average shares used in computing net loss per share		5,336,501		33,029,147		5,141,047		20,277,416
Net loss per share attributable to common stockholders, basic and diluted	$	(2.82)	$	(0.47)	$	(6.02)	$	(1.45)


	Fiscal year
	2019		2020
Net loss	$	(56,496)	$	(51,365)
Net loss per common share, basic and diluted	$	(12.17)	$	(9.13)
Weighted‑average shares used to compute net loss per common share, basic and diluted		4,641,256		5,626,713

Schedule of common stock were excluded from the computation of diluted net loss per share attributable to common stockholders


	2019	2020
Stock options	9,092,367	9,426,565
Common stock warrants	317,882	—
Total	9,410,249	9,426,565


	Fiscal year
	2019	2020
Stock options	8,147,544	7,996,056
Common stock warrants	182,288	317,861
Total	8,329,832	8,313,917

Background - Initial Public Offering (Details) $ / shares in Units, $ in Thousands			1 Months Ended	2 Months Ended	6 Months Ended
	Jul. 08, 2020 shares	Jul. 07, 2020 USD ($) $ / shares shares	Mar. 31, 2020	Aug. 31, 2020 shares	Aug. 31, 2020 USD ($) shares	Feb. 29, 2020 $ / shares shares
Subsidiary, Sale of Stock [Line Items]
Share Price \| $ / shares						$ 22.00
Shares issued on conversion of convertible preferred stock	29,479,521			29,479,521	29,479,521	29,479,483
Number of additional shares issued	1,401,836	1,401,836		1,401,836
Stock split ratio			0.20
IPO
Subsidiary, Sale of Stock [Line Items]
Shares issued		11,526,134
Share Price \| $ / shares		$ 22.00
Proceeds from issuance of common stock \| $		$ 231,228
Offering Costs \| $		$ 4,596
IPO \| Prepaids and other assets
Subsidiary, Sale of Stock [Line Items]
Offering Costs \| $					$ 4,284
Overallotment
Subsidiary, Sale of Stock [Line Items]
Shares issued		1,503,408

Basis of Presentation and Summary of Significant Accounting Policies - Capitalized Internal-Use Software Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020	Feb. 28, 2019
Property, Plant and Equipment [Line Items]
Amortization expenses			$ 3,977	$ 4,382	$ 8,516	$ 9,391
Capitalized internal-use software
Property, Plant and Equipment [Line Items]
Useful life			3 years		3 years
Capitalized cost	$ 85	$ 0	$ 374	0	$ 3,005	1,943
Amortization expenses	$ 1,120	$ 1,054	$ 2,131	$ 2,431	$ 4,533	$ 5,836

Basis of Presentation and Summary of Significant Accounting Policies - Intangible Assets (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020
Finite-Lived Intangible Assets [Line Items]
Amortization expense						$ 846
MD Insider Inc \| Technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	$ 2,900					$ 2,900
Estimated useful life	2 years					2 years
Amortization expense		$ 362	$ 121	$ 724	$ 121	$ 846

Basis of Presentation and Summary of Significant Accounting Policies - Concentration of Credit Risk (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020	Feb. 28, 2019
Concentration Risk [Line Items]
Accounts receivable					$ 0	$ 0
Customer 3
Concentration Risk [Line Items]
Accounts receivable	$ 6,670		$ 6,670
Customer Concentration Risk \| Revenue [Member]
Concentration Risk [Line Items]
Revenue (as a percent)	37.00%	49.00%	40.00%	50.00%	68.00%	71.00%
Customer Concentration Risk \| Revenue [Member] \| Customer 1
Concentration Risk [Line Items]
Revenue (as a percent)	14.00%	27.00%	17.00%	27.00%	24.00%	35.00%
Customer Concentration Risk \| Revenue [Member] \| Customer 2
Concentration Risk [Line Items]
Revenue (as a percent)	12.00%	11.00%	12.00%	12.00%	13.00%	3.00%
Customer Concentration Risk \| Revenue [Member] \| Customer 3
Concentration Risk [Line Items]
Revenue (as a percent)	11.00%	11.00%	11.00%	11.00%	12.00%	14.00%
Customer Concentration Risk \| Revenue [Member] \| Customer 4
Concentration Risk [Line Items]
Revenue (as a percent)					10.00%	8.00%

Basis of Presentation and Summary of Significant Accounting Policies - Deferred Offering Costs (Details) - USD ($) $ in Thousands	Aug. 31, 2020	Feb. 29, 2020
Deferred Offering Costs [Line Items]
Deferred Offering Costs	$ 4,596	$ 3,042
Prepaids and other assets
Deferred Offering Costs [Line Items]
Deferred Offering Costs	0	$ 3,042
Accounts payable and accrued expenses
Deferred Offering Costs [Line Items]
Deferred Offering Costs	$ 312

Revenue - Revenue and Deferred Revenue (Details) - USD ($) $ in Thousands	Aug. 31, 2020	Feb. 29, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue	$ 227,365	$ 164,552
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-03-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue		$ 111,741
Revenue remaining performance obligation satisfaction period		1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-09-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue	$ 77,630
Revenue remaining performance obligation satisfaction period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-03-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue		$ 42,461
Revenue remaining performance obligation satisfaction period		1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-03-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue	$ 104,703	$ 8,390
Revenue remaining performance obligation satisfaction period	1 year	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-03-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue	$ 35,033	$ 1,960
Revenue remaining performance obligation satisfaction period	1 year	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-03-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue	$ 9,999
Revenue remaining performance obligation satisfaction period	1 year

Revenue - Revenue and Deferred Revenue Narratives (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020	Feb. 28, 2019
Revenue
Contract with customer liability revenue recognized			$ 23,725	$ 19,225	$ 22,407	$ 9,637
Revenue related to performance obligations satisfied in prior periods	$ 1,535	$ 689	$ 3,014	$ 1,084	$ 4,479	$ 4,410

Revenue - Cost to obtain and fulfill a contract (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Aug. 31, 2020 USD ($)	Aug. 31, 2019 USD ($)	Aug. 31, 2020 USD ($) item	Aug. 31, 2019 USD ($)	Feb. 29, 2020 USD ($)	Feb. 28, 2019 USD ($)
Capitalized Contract Cost [Line Items]
Deferred amortization term	5 years		5 years		5 years
Impairment loss on deferred commission	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Selling and Marketing Expense [Member]
Capitalized Contract Cost [Line Items]
Amortization of contract cost	237,000	158,000	$ 470,000	314,000	665,000	377,000
Sales commission
Capitalized Contract Cost [Line Items]
Capitalized Contract Cost, Net					$ 1,495,000	1,832,000
Number of increments in which payment to sales person is made.			2		2
Sales commission paid upon signing of contract (as a percent)			75.00%		75.00%
Sales commission paid upon customer launch (as a percent)			25.00%		25.00%
Amortization of contract cost	$ 1,999,000	229,000	$ 2,502,000	523,000
Customer set up cost
Capitalized Contract Cost [Line Items]
Capitalized Contract Cost, Net					$ 904,000	667,000
Deferred amortization term	5 years		5 years		5 years
Amortization of contract cost	$ 110,000	75,000	$ 270,000	146,000	$ 320,000	$ 417,000
Deferred Implementation Costs [Member]
Capitalized Contract Cost [Line Items]
Capitalized Contract Cost, Net		$ 138,000		138,000
Amortization of contract cost	$ 166,000		$ 310,000	$ 189,000

Acquisition of MD Insider - Shares Issued (Details) - USD ($)			1 Months Ended				6 Months Ended	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Aug. 31, 2020	Jul. 31, 2020	Feb. 29, 2020	Jul. 31, 2019	Aug. 31, 2019	Feb. 29, 2020
Business Acquisition [Line Items]
Additional shares issued	100,607
MD Insider Inc
Business Acquisition [Line Items]
Aggregate purchase price consideration		$ 6,488,000				$ 6,488,000		$ 289,320
Shares issued					289,320		386,339
Additional shares issued			96,487	100,607
Stock Available For Issuance			4,120
Fair value of the Company's common stock		$ 5,114,000						1,050,000
Acquisition cost								$ 567,000
Maximum \| MD Insider Inc
Business Acquisition [Line Items]
Shares issued		462,691				462,691

Fair Value Measurements (Details) - USD ($) $ in Thousands	Aug. 31, 2020	Feb. 29, 2020	Feb. 28, 2019
Cash equivalents:
Fair value		$ 21,332
Level 1
Cash equivalents:
Fair value		21,332
Money Market Funds
Cash equivalents:
Fair value	$ 212,221	21,332	$ 28,661
Money Market Funds \| Level 1
Cash equivalents:
Fair value	$ 212,221	21,332	$ 28,661
Certificates of Deposit
Cash equivalents:
Fair value		5,000
Certificates of Deposit \| Level 1
Cash equivalents:
Fair value		$ 5,000

Debt facility (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended			3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 31, 2020	May 31, 2020	Jul. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020	Feb. 28, 2019	Jan. 30, 2018	Jan. 30, 2017
Debt Instrument [Line Items]
Number of Securities Called by Warrants or Rights								1,401,836
Interest Rate		8.00%
Debt issuance cost								$ 1,129	$ 800
Repayment of principle portion of debt						$ 73,166
Repayment of accrued interest in kind						$ 1,316	265	834	425
Interest Payable								273
Long-term Debt								$ 22,000	20,000
Term Loan
Debt Instrument [Line Items]
Debt Instrument, Face Amount											$ 20,000
Maximum Borrowing Capacity		$ 24,500	$ 22,000								20,000
Interest Rate			10.00%	11.75%		11.75%		11.75%
Debt issuance cost								$ 634
Line of Credit Facility, Additional Borrowing Capacity		$ 2,500	$ 2,000
Interest Payable in Kind Accrued Rate		4.50%	2.00%
Debt instrument exit fee			1.00%
Repayment of principle portion of debt	$ 24,500
Repayment of accrued interest in kind	600
Debt instrument end charges	251
Debt instrument prepayment fee	$ 502			$ 502
Interest Payable								273
Interest expenses				2,043	$ 647	$ 2,837	1,316	2,858	2,844
Amortization of debt discount				1,045
Amortization of Debt Issuance Costs and Discounts								280	291
Long-term Debt			$ 22,000					$ 22,000	20,000
Term Loan \| Prepayment of Loan Occur on or Before December 31, 2020
Debt Instrument [Line Items]
Debt instrument exit fee		2.00%
Term Loan \| Prepayment of Loan Occur on or After December 31, 2020
Debt Instrument [Line Items]
Debt instrument exit fee		0.50%
Revolving Credit Facility, 2017
Debt Instrument [Line Items]
Debt Instrument, Face Amount											$ 20,000
Number of Securities Called by Warrants or Rights								22,288		11,144	11,144
Maximum Borrowing Capacity								$ 20,000	0
Debt issuance cost								61
Revolving Credit Facility, 2019
Debt Instrument [Line Items]
Number of Securities Called by Warrants or Rights			135,594
Maximum Borrowing Capacity			$ 50,000	80,000		80,000		80,000
Debt issuance cost				543		543		543
Line of Credit Facility, Additional Borrowing Capacity			$ 30,000
Interest expenses				323	$ 65	880	$ 71	273	72
Amortization of Debt Issuance Costs and Discounts								$ 195	$ 31
Long-term Debt				$ 48,666		$ 48,666
Term Loan Warrants
Debt Instrument [Line Items]
Number of Securities Called by Warrants or Rights								43,542
Exercise price of warrants								$ 0.005
Warrants and Rights Outstanding, Term								10 years
Fair value of the warrants								$ 182

Debt facility - Warrant Rights (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended		12 Months Ended
	Apr. 20, 2018	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020	Feb. 28, 2019	Jul. 31, 2019	Jan. 30, 2018	Jan. 30, 2017
Debt Instrument [Line Items]
Long-term Debt						$ 21,144	$ 19,200
Number of Securities Called by Warrants or Rights						1,401,836
Debt issuance cost						$ 1,129	800
Long-term Line of Credit		$ 1,334		$ 1,334		1,334
Other Assets
Debt Instrument [Line Items]
Debt Issuance Costs, Net		233	$ 512	233	$ 512	372	23
Revolving Credit Facility, 2017
Debt Instrument [Line Items]
Maximum Borrowing Capacity						$ 20,000	0
Minimum funds raised	$ 45,000
Number of Securities Called by Warrants or Rights						22,288			11,144	11,144
Debt issuance cost						$ 61
Term of debt						24 months
Revolving Credit Facility, 2019
Debt Instrument [Line Items]
Maximum Borrowing Capacity		80,000		80,000		$ 80,000		$ 50,000
Additional Borrowing Capacity								$ 30,000
Long-term Debt		0		0		48,666
Number of Securities Called by Warrants or Rights								135,594
Debt issuance cost		543		$ 543		$ 543
Term of debt				24 months		24 months
Extension term of debt				12 months		12 months
Interest Expense, Debt		$ 323	$ 65	$ 880	$ 71	$ 273	72
Amortization of Debt Issuance Costs and Discounts						$ 195	$ 31
Lending Institution Prime Reference Rate \| Revolving Credit Facility, 2017
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate						1.00%
LIBOR \| Revolving Credit Facility, 2017
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate						2.50%
London Interbank Offered Rate \| Revolving Credit Facility, 2019
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate				3.50%		3.50%
Base Rate \| Revolving Credit Facility, 2019
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate				2.50%		2.50%

Debt facility - Interest Payable (Details) - USD ($) $ in Thousands	Aug. 31, 2020	Feb. 29, 2020	Jul. 31, 2019	Feb. 28, 2019
Debt Instrument [Line Items]
Long-term Debt		$ 22,000		$ 20,000
Interest Payable in Kind		273
Unamortized issuance costs		(1,129)		(800)
Long-term Debt		21,144		19,200
Term Loan
Debt Instrument [Line Items]
Long-term Debt		22,000	$ 22,000	$ 20,000
Interest Payable in Kind		273
Unamortized issuance costs		(634)
Revolving Credit Facility, 2019
Debt Instrument [Line Items]
Long-term Debt	$ 48,666
Unamortized issuance costs	(543)	(543)
Long-term Debt	$ 0	$ 48,666

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended		2 Months Ended	3 Months Ended	12 Months Ended
	Jul. 08, 2020	Jul. 07, 2020	Oct. 31, 2018	Mar. 31, 2018	Aug. 31, 2020	Aug. 31, 2020	Feb. 29, 2020	Feb. 28, 2019
Class of Stock [Line Items]
Par Value					$ 0.0001	$ 0.0001	$ 0.0001
Common Stock, Par or Stated Value Per Share		$ 0.0001			$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, shares authorized		500,000,000			500,000,000	500,000,000	500,000,000	65,000,000
Common stock issue price per share					$ 22.00	$ 22.00
New common stock issued and sold					11,526,134
Preferred stock, shares authorized					25,000,000	25,000,000	25,000,000	19,513,996
Preferred stock, shares issued					0	0	19,513,939	18,640,901
Preferred stock, shares outstanding					0	0	19,513,939	18,640,901
Carrying value							$ 233,022	$ 214,664
Preferred stock, liquidation value							$ 239,244
Shares issued on conversion of convertible preferred stock	29,479,521				29,479,521	29,479,521	29,479,483
Net Proceeds					$ 231,229		$ 19,943	$ 49,933
Issuance costs						$ 4,596
Number of additional shares issued	1,401,836	1,401,836			1,401,836
Series A One Convertible Preferred Stock
Class of Stock [Line Items]
Par Value							$ 0.0001
Preferred stock, shares authorized							3,560,000
Preferred stock, shares issued							3,559,995
Preferred stock, shares outstanding							3,559,995
Carrying value							$ 10,000
Preferred stock, liquidation value							$ 10,000
Series A Two Convertible Preferred Stock
Class of Stock [Line Items]
Par Value							$ 0.0001
Preferred stock, shares authorized							2,579,999
Preferred stock, shares issued							2,579,994
Preferred stock, shares outstanding							2,579,994
Carrying value							$ 10,000
Preferred stock, liquidation value							$ 10,000
Series B Convertible Preferred Stock
Class of Stock [Line Items]
Par Value							$ 0.0001
Preferred stock, shares authorized							4,058,736
Preferred stock, shares issued							4,058,731
Preferred stock, shares outstanding							4,058,731
Carrying value							$ 16,944
Preferred stock, liquidation value							$ 16,944
Convertible Preferred stock
Class of Stock [Line Items]
Preferred stock, shares issued					0	0
Preferred stock, shares outstanding					0	0
Shares issued on conversion of convertible preferred stock		29,479,521
Series C Convertible Preferred Stock
Class of Stock [Line Items]
Par Value							$ 0.0001
Preferred stock, shares authorized							601,160
Preferred stock, shares issued							601,151
Preferred stock, shares outstanding							601,151
Carrying value							$ 7,000
Preferred stock, liquidation value							$ 7,000
Series D Convertible Preferred Stock
Class of Stock [Line Items]
Par Value							$ 0.0001
Preferred stock, shares authorized							1,751,874
Preferred stock, shares issued							1,751,871
Preferred stock, shares outstanding							1,751,871
Carrying value							$ 30,000
Preferred stock, liquidation value							$ 30,000
Series E Convertible Preferred Stock
Class of Stock [Line Items]
Par Value							$ 0.0001
Preferred stock, shares authorized							6,089,189
Preferred stock, shares issued							6,089,159
Preferred stock, shares outstanding							6,089,159
Carrying value							$ 140,720
Preferred stock, liquidation value							$ 145,300
Net Proceeds				$ 49,933
Issuance costs				$ 67
Series F Convertible Preferred Stock
Class of Stock [Line Items]
Par Value							$ 0.0001
Preferred stock, shares authorized							873,038
Preferred stock, shares issued							873,038
Preferred stock, shares outstanding							873,038
Carrying value							$ 18,358
Preferred stock, liquidation value							$ 20,000
Net Proceeds			$ 19,943
Issuance costs			$ 57

Equity-based Compensation and Warrants - Shares (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020	Feb. 28, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense		$ 2,105	$ 1,895	$ 3,364	$ 3,331	$ 6,002	$ 5,721
Stock options issued value							$ 569
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value						$ 9.55	$ 3.35
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options issued	525,907
Stock options issued value	$ 5,735
Weighted average grant date fair value						$ 5.40	$ 2.95
Aggregate intrinsic value of stock options		5,676		7,806		$ 22,033	$ 305
Unrecognized compensation expense		$ 27,203		$ 27,203		$ 12,353
Weighted average period				2 years 2 months 12 days		2 years 1 month 6 days
2007 Plan \| Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized to be issued						13,116,991
Term of option						10 years
Vesting period						4 years
Common stock available for future grants						941,887
2007 Plan \| Stock Option \| Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period						1 year
Vesting percentage						25.00%
2007 Plan \| Stock Option \| Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period						3 years
Vesting percentage						75.00%
2020 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock available for future grants		3,981,071		3,981,071
2020 Equity Incentive Plan \| Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized to be issued		4,300,000		4,300,000
Term of option				10 years
Vesting period				4 years
2020 Equity Incentive Plan \| Stock Option \| Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				1 year
Vesting percentage				25.00%
2020 Equity Incentive Plan \| Stock Option \| Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				3 years
Vesting percentage				75.00%
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock initially reserved		1,100,000		1,100,000

Equity-based Compensation and Warrants - Compensation expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020	Feb. 28, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Compensation expense	$ 2,105	$ 1,895	$ 3,364	$ 3,331	$ 6,002	$ 5,721
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Compensation expense	218	103	327	175	318	255
Product and technology
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Compensation expense	718	491	1,152	852	1,674	1,108
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Compensation expense	490	475	792	822	1,482	1,199
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Compensation expense	$ 679	$ 826	$ 1,093	$ 1,482	$ 2,528	$ 3,159

Equity-based Compensation and Warrants - Award Option (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Aug. 31, 2020	Feb. 29, 2020	Feb. 28, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Balance, February 29, 2020	7,996,056	8,147,544	6,970,591
Granted		2,084,046	1,635,115
Exercised		(1,843,001)	(249,027)
Forfeited		(392,533)	(209,135)
Balance, August 31, 2020		7,996,056	8,147,544
Vested and expected to vest as of August 31, 2020		7,996,056
Exercisable as of August 31, 2020		4,579,458
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Balance, February 29, 2020	$ 6.19
Granted		$ 10.80
Exercised		3.70
Forfeited		5.70
Balance, August 31, 2020		6.19
Exercisable as of August 31, 2020		4.35
Vested and expected to vest as of August 31, 2020		$ 6.20
Weighted remaining contractual life in years		7 years
Vested and expected to vest as of August 31, 2020		7 years
Exercisable as of August 31, 2020		5 years 7 months 6 days
Balance, February 29, 2020	$ 73,631
Balance, August 31, 2020		$ 73,631
Vested and expected to vest as of August 31, 2020		73,631
Exercisable as of August 31, 2020		$ 50,573
2020 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Balance, February 29, 2020	7,996,056
Granted	2,149,575
Exercised	(571,382)
Forfeited	(147,684)
Balance, August 31, 2020	9,426,565	7,996,056
Vested and expected to vest as of August 31, 2020	9,426,565
Exercisable as of August 31, 2020	5,499,412
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Balance, February 29, 2020	$ 6.19
Granted	4.42
Exercised	17.25
Forfeited	6.12
Balance, August 31, 2020	8.82	$ 6.19
Exercisable as of August 31, 2020	6.19
Vested and expected to vest as of August 31, 2020	$ 8.82
Weighted remaining contractual life in years	7 years 4 months 24 days
Vested and expected to vest as of August 31, 2020	7 years 4 months 24 days
Exercisable as of August 31, 2020	6 years 3 months 18 days
Balance, August 31, 2020	$ 223,660
Vested and expected to vest as of August 31, 2020	223,660
Exercisable as of August 31, 2020	$ 150,792

Equity-based Compensation and Warrants - Equity Instrument (Details) - $ / shares					2 Months Ended	6 Months Ended	12 Months Ended
	Jul. 08, 2020	Jul. 07, 2020	Jul. 29, 2015	Jun. 29, 2015	Aug. 31, 2020	Aug. 31, 2020	Feb. 29, 2020	Feb. 28, 2019
Class of Warrant or Right [Roll Forward]
Balance, February 29, 2020						1,653,268	1,466,043	928,945
Issued							220,594	541,159
Exercised							(33,369)	(4,061)
Balance, August 31, 2020							1,653,268	1,466,043
Exercisable							1,653,268
Number of additional shares issued	1,401,836	1,401,836			1,401,836
Number of Securities Called by Warrants or Rights							1,401,836
Common stock warrants
Class of Warrant or Right [Roll Forward]
Balance, February 29, 2020						1,653,268
Exercised						(160,000)
Automatic exercise of warrants in connection with IPO						(1,493,268)
Balance, August 31, 2020					0	0	1,653,268
Number of Securities Called by Warrants or Rights							1,653,268	1,466,043
Common stock warrants \| Series E Warrants [Member]
Class of Warrant or Right [Roll Forward]
Number of Securities Called by Warrants or Rights							1,129,114	1,162,483
Exercise price (in dollars per share)							$ 0.0005
Common stock warrants \| Series F Warrants [Member]
Class of Warrant or Right [Roll Forward]
Number of Securities Called by Warrants or Rights							85,000
Exercise price (in dollars per share)							$ 0.0005
Common stock warrants \| Lender Warrant
Class of Warrant or Right [Roll Forward]
Number of Securities Called by Warrants or Rights							279,154	143,560
Common stock warrants \| Customer Warrant
Class of Warrant or Right [Roll Forward]
Exercisable			160,000	160,000
Number of Securities Called by Warrants or Rights			200,000	200,000			160,000	160,000
Exercise price (in dollars per share)							$ 13.75
Minimum
Class of Warrant or Right [Roll Forward]
Exercise price (in dollars per share)							0.0005
Minimum \| Common stock warrants \| Lender Warrant
Class of Warrant or Right [Roll Forward]
Exercise price (in dollars per share)							0.005
Maximum
Class of Warrant or Right [Roll Forward]
Exercise price (in dollars per share)							23.75
Maximum \| Common stock warrants \| Lender Warrant
Class of Warrant or Right [Roll Forward]
Exercise price (in dollars per share)							$ 23.75

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		8 Months Ended	12 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Feb. 29, 2020	Dec. 31, 2019	Feb. 28, 2019
Income Taxes
Percentage of deductions from adjustable taxable income					50.00%	50.00%	30.00%	30.00%
Income tax expense	$ 18	$ 14	$ 56	$ 37		$ 129		$ 55
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate	0.10%	0.10%	0.20%	0.10%		21.00%		21.00%

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Net Loss Per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Aug. 31, 2020	May 31, 2020	Aug. 31, 2019	May 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020	Feb. 28, 2019
Net Loss Per Share Attributable to Common Stockholders
Net loss	$ (15,371)	$ (13,960)	$ (15,026)	$ (15,903)	$ (29,331)	$ (30,929)	$ (51,365)	$ (56,496)
Weighted-average shares used in computing net loss per share	33,029,147		5,336,501		20,277,416	5,141,047	5,626,713	4,641,256
Net loss per share attributable to common stockholders, basic and diluted	$ (0.47)		$ (2.82)		$ (1.45)	$ (6.02)	$ (9.13)	$ (12.17)