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PHR

Phreesia, Inc.

PHR

Phreesia, Inc. • NYSE
$20.49 ▼ -0.19% (-0.04)
Market Cap $1.23 B
52w High $32.76
52w Low $18.55
Dividend Yield 0%
P/E -48.79
Volume 243.59K
Outstanding Shares 59.91M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $117.255M ▲ $73.712M ▼ $654K ▲ 0.558% ▲ $0.011 ▲ $6.846M ▲
Q1-2026 $115.936M ▲ $81.158M ▼ $-3.914M ▲ -3.376% ▲ $-0.066 ▲ $4.134M ▲
Q4-2025 $109.681M ▲ $83.727M ▼ $-6.39M ▲ -5.826% ▲ $-0.11 ▼ $2.142M ▲
Q3-2025 $106.8M ▲ $86.106M ▲ $-14.403M ▲ -13.486% ▲ $0.65 ▲ $-6.274M ▲
Q2-2025 $102.115M $79.031M $-18.012M -17.639% $-0.31 $-9.159M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $98.266M ▲ $408.629M ▲ $110.642M ▼ $297.987M ▲
Q1-2026 $90.871M ▲ $400.395M ▲ $118.209M ▼ $282.186M ▲
Q4-2025 $84.22M ▲ $388.415M ▲ $123.607M ▲ $264.808M ▲
Q3-2025 $81.74M ▼ $375.703M ▲ $121.111M ▲ $254.592M ▲
Q2-2025 $81.798M $362.235M $110.9M $251.335M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $654K ▲ $14.835M ▼ $-5.202M ▲ $-2.149M ▼ $7.395M ▲ $13.068M ▲
Q1-2026 $-3.914M ▲ $14.85M ▼ $-7.392M ▼ $-838K ▲ $6.651M ▲ $7.458M ▼
Q4-2025 $-6.39M ▲ $16.256M ▲ $-7.058M ▼ $-6.629M ▼ $2.48M ▲ $9.198M ▲
Q3-2025 $-14.403M ▲ $5.785M ▼ $-4.182M ▲ $-1.651M ▼ $-58K ▼ $5.169M ▲
Q2-2025 $-18.012M $11.061M $-7.403M $-1.381M $2.271M $3.658M

Revenue by Products

Product Q2-2025Q3-2025Q4-2025Q2-2026
Network Solutions
Network Solutions
 $30.00M ▲$30.00M ▲$30.00M ▲$40.00M ▲
Payment Processing Fees
Payment Processing Fees
 $30.00M ▲$20.00M ▼$20.00M ▲$30.00M ▲
Subscription And Services
Subscription And Services
 $50.00M ▲$50.00M ▲$50.00M ▲$50.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Phreesia’s revenue has been climbing steadily each year, showing strong demand for its platform and good traction with customers. The company is generating solid gross profit on that revenue, which suggests its core service has attractive economics. However, it still runs at a loss, with operating and net income in negative territory. The encouraging sign is that these losses have been narrowing over time, indicating better cost control and improving scale. Earnings per share remain negative but are moving in the right direction, pointing to a business that is still in investment mode but progressing toward potential profitability.

Balance Sheet

Balance Sheet The balance sheet looks relatively conservative. Total assets have been stable to slightly growing, with a meaningful portion held in cash, though the cash cushion is smaller than a few years ago. Debt levels are very low, which reduces financial risk and interest burden. Shareholders’ equity is firmly positive, reflecting a company that has been funded primarily through equity rather than heavy borrowing. Overall, the balance sheet supports continued operations, but the company does not have unlimited room for prolonged large losses without eventually raising more capital or further improving cash generation.

Cash Flow

Cash Flow Cash flow has been a key area of improvement. A few years ago, Phreesia was consistently burning cash from its operations; more recently, it has shifted to generating positive operating cash flow. Free cash flow has followed the same pattern, moving from clearly negative to slightly positive, helped by disciplined, modest spending on capital investments. This suggests the business model is beginning to fund itself rather than relying heavily on outside financing, though the margin for error is still thin and will need to widen for long-term comfort.

Competitive Edge

Competitive Edge Phreesia sits in an attractive niche as the “digital front door” for healthcare providers, focusing on patient intake, payments, and engagement. Its platform is deeply embedded in provider workflows and connects with hundreds of practice management and electronic health record systems, which makes it hard for customers to switch. The company benefits from multiple revenue streams—software fees, payment processing, and life sciences media—creating a mini ecosystem around its network. Its long operating history, strong integrations, and brand recognition in patient access give it a defensible position. The main ongoing risks are competition from larger health IT and EHR vendors, evolving regulations, and budget pressures on healthcare systems that could slow adoption or expansion.

Innovation and R&D

Innovation and R&D Phreesia leans heavily on innovation, especially in automation, artificial intelligence, and data analytics, to make the patient journey smoother and more efficient. It has broadened from basic digital check-in to end‑to‑end tools that cover scheduling, intake, payments, and post‑visit engagement. The acquisition of AccessOne extends its reach into patient financing and revenue cycle management, deepening its role in the financial side of care. Its life sciences network and tools like Post‑Script Engagement highlight a focus on personalized, timely patient communication. These initiatives likely require sustained R&D and integration spending, which weighs on current profitability but strengthens the long‑term moat if execution stays strong.

Summary

Phreesia is a growing healthcare technology company with a clear focus: modernizing how patients check in, pay, and engage with their providers. The business shows healthy top‑line growth, improving margins, and a transition from cash burn to modest cash generation, though it is not yet consistently profitable. The balance sheet is relatively clean, with low debt and adequate but not abundant cash. Competitively, Phreesia benefits from deep integrations, high switching costs, and multiple revenue streams across providers, payments, and life sciences partners. Its strategy is heavily innovation‑driven, particularly around AI, analytics, and payment solutions, which could further entrench its role in the healthcare ecosystem. The key things to watch are its path to sustained profitability, its ability to maintain and deepen its integrations and network effects, and how well it balances continued innovation with financial discipline.

NEWS

November 19, 2025 · 4:05 PM UTC

Phreesia Named to the 2025 Deloitte Technology Fast 500™

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November 3, 2025 · 4:04 PM UTC

Phreesia Sets Release Date for Fiscal Third Quarter 2026 Results

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October 8, 2025 · 4:05 PM UTC

Phreesia Named to the 2025 Capterra Shortlists for Appointment Reminders and Appointment Scheduling

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September 30, 2025 · 4:05 PM UTC

Phreesia Named to TIME's 2025 List of the World's Top HealthTech Companies

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September 16, 2025 · 6:49 AM UTC

Becker's Names Phreesia's Sara DiNardo as one of 2025's Rising Stars of Healthcare

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