Phreesia Announces First Quarter Fiscal 2026 Results

Phreesia, Inc. announced its financial results for the fiscal first quarter ended April 30, 2025. The company, a leader in patient activation solutions, reported a strong start to fiscal year 2026, with significant improvements in key financial metrics and operational performance.

Financial Highlights

For the first quarter of fiscal 2026, Phreesia reported total revenue of $115.9 million, marking a 15% increase year-over-year. The net loss for the quarter was $3.9 million, a substantial improvement from the $19.7 million net loss in the same period last year. Adjusted EBITDA saw a significant rise to $20.8 million from $4.1 million in the prior year. The company also reported a positive free cash flow of $7.5 million, compared to a negative $6.2 million in the previous year.

Business and Operational Highlights

Phreesia's average number of healthcare services clients (AHSCs) increased by 9% year-over-year to 4,411. The total revenue per AHSC also saw a 6% rise, reaching $26,283. The company highlighted its robust cash position, with cash and cash equivalents totaling $90.9 million as of April 30, 2025, up from $84.2 million at the end of January 2025.

Strategic Initiatives and Corporate Developments

Phreesia maintained its revenue outlook for fiscal 2026, expecting revenue to be in the range of $472 million to $482 million. The company updated its Adjusted EBITDA outlook to a range of $85 million to $90 million, reflecting continued improvements in operating leverage and efficiency. The company also emphasized its sufficient cash flexibility to meet its fiscal 2026 outlook, supported by its available borrowing capacity under its credit facility with Capital One.

Management's Perspective

CEO and Co-Founder Chaim Indig expressed gratitude to the team for their commitment to the company's mission, vision, and values. He attributed the strong performance to the team's dedication and alignment with the company's core values.

Future Outlook

Phreesia expects to reach approximately 4,500 AHSCs in fiscal 2026 and anticipates an increase in total revenue per AHSC from fiscal 2025. The company believes its current cash position and operational cash generation will provide the necessary flexibility to achieve its fiscal 2026 targets.

SEC Filing: Phreesia, Inc. [ PHR ] - 8-K - May. 28, 2025