PHR

MKT CAP:$573M

Phreesia, Inc.

Market Cap

$573M

Healthcare·Medical - Healthcare Information Services·🇺🇸 United States·NYSE

Healthcare·Medical·🇺🇸·NYSE

Stock Price

$8.99-$7.31 (-44.85%)

Apr 24, 2026

Company Details

Phreesia, Inc. provides an integrated SaaS-based software and payment platform for the healthcare industry in the United States and Canada. Its Phreesia Platform offers a suite of solutions to manage the patient intake process, as well as a...

CEO

Chaim Indig

IPO Date

Jul 18, 2019

Website

www.phreesia.com

Key Metrics TTM

Revenue

$463M

+14.3% YoY

Net Income

-$5M

EPS (Diluted)

-$0.10

Free Cash Flow

$42M

Revenue / Share

$7.53

Gross Margin

68.2%

Operating Margin

-1.9%

Net Margin

-1.2%

FCF Margin

9.0%

P/S

1.2x

P/E

—

Earnings Reports

FY 2026

Mar 31, 2026

$481M+14.5%EPS $0.04

Q3 2026

Dec 9, 2025

$120M+12.7%EPS $0.07

Q2 2026

Sep 5, 2025

$117M+14.8%EPS $0.01

Q1 2026

May 28, 2025

$116M+14.5%EPS -$0.07

FY 2025

Mar 13, 2025

$420M+17.8%EPS -$1.02

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 22	$58M	$36M	-$47M
Q1 23	$63M	$37M	-$51M
Q2 23	$68M	$40M	-$46M
Q3 23	$73M	$46M	-$40M
Q4 23	$77M	$49M	-$40M
Q1 24	$84M	$53M	-$38M
Q2 24	$86M	$56M	-$37M
Q3 24	$92M	$61M	-$32M
Q4 24	$95M	$63M	-$30M
Q1 25	$101M	$67M	-$19M
Q2 25	$102M	$69M	-$17M
Q3 25	$107M	$72M	-$14M
Q4 25	$110M	$76M	-$8M
Q1 26	$116M	$78M	-$3M
Q2 26	$117M	$80M	-$2M
Q3 26	$120M	$82M	$4M

Valuation

Quarter	P/S	P/E
Q4 22	7.6x	—
Q1 23	5.5x	—
Q2 23	5.0x	—
Q3 23	5.5x	—
Q4 23	6.8x	—
Q1 24	5.8x	—
Q2 24	5.5x	—
Q3 24	2.0x	—
Q4 24	4.0x	—
Q1 25	3.0x	—
Q2 25	3.6x	—
Q3 25	2.6x	—
Q4 25	3.9x	—
Q1 26	3.3x	—
Q2 26	3.6x	—
Q3 26	2.9x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 22	-$38M	-$44M
Q1 23	-$34M	-$41M
Q2 23	-$20M	-$26M
Q3 23	-$21M	-$27M
Q4 23	-$16M	-$22M
Q1 24	-$14M	-$20M
Q2 24	-$9M	-$15M
Q3 24	-$6M	-$12M
Q4 24	-$3M	-$11M
Q1 25	-$873.0K	-$6M
Q2 25	$11M	$4M
Q3 25	$6M	$5M
Q4 25	$16M	$9M
Q1 26	$15M	$7M
Q2 26	$15M	$13M
Q3 26	$15M	$12M

Capital Expenditures

Quarter	CapEx
Q4 22	$6M
Q1 23	$7M
Q2 23	$6M
Q3 23	$7M
Q4 23	$7M
Q1 24	$6M
Q2 24	$6M
Q3 24	$5M
Q4 24	$8M
Q1 25	$5M
Q2 25	$7M
Q3 25	$616.0K
Q4 25	$7M
Q1 26	$7M
Q2 26	$2M
Q3 26	$3M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 22	+38.8%	+108.9%
Q1 23	+31.2%	+93.3%
Q2 23	+33.1%	+52.6%
Q3 23	+30.7%	+23.2%
Q4 23	+32.0%	+11.2%
Q1 24	+32.3%	+6.8%
Q2 24	+26.5%	+7.5%
Q3 24	+25.3%	+9.5%
Q4 24	+24.1%	+7.0%
Q1 25	+20.7%	-0.9%
Q2 25	+19.0%	-2.8%
Q3 25	+16.6%	-2.4%
Q4 25	+15.4%	-5.9%
Q1 26	+14.5%	-1.2%
Q2 26	+14.8%	-0.5%
Q3 26	+12.7%	-3.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 22	$10M	17.5%
Q1 23	$14M	22.3%
Q2 23	$15M	21.5%
Q3 23	$15M	20.2%
Q4 23	$15M	20.0%
Q1 24	$17M	20.4%
Q2 24	$19M	21.7%
Q3 24	$18M	19.6%
Q4 24	$18M	18.8%
Q1 25	$17M	16.6%
Q2 25	$16M	16.1%
Q3 25	$17M	15.5%
Q4 25	$17M	15.6%
Q1 26	$17M	14.9%
Q2 26	$16M	13.8%
Q3 26	$16M	13.3%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q4 22	$17M	$22M	$37M
Q1 23	$21M	$21M	$40M
Q2 23	$23M	$20M	$38M
Q3 23	$23M	$20M	$37M
Q4 23	$25M	$20M	$36M
Q1 24	$26M	$20M	$37M
Q2 24	$27M	$21M	$37M
Q3 24	$29M	$20M	$36M
Q4 24	$30M	$19M	$36M
Q1 25	$29M	$19M	$32M
Q2 25	$30M	$19M	$30M
Q3 25	$29M	$20M	$30M
Q4 25	$30M	$18M	$29M
Q1 26	$32M	$16M	$26M
Q2 26	$29M	$19M	$25M
Q3 26	$29M	$17M	$24M

Revenue Segments

Quarter	Life Sciences	Payment Processing Fees	Subscription And Services	Network Solutions
Q4 22	$15M	$16M	$26M	—
Q1 23	$15M	$19M	$29M	—
Q2 23	$17M	$20M	$31M	—
Q3 23	—	$20M	$33M	$20M
Q4 23	—	$20M	$36M	$21M
Q1 24	—	$24M	$38M	$22M
Q2 24	—	$24M	$39M	$23M
Q3 24	—	$23M	$43M	$26M
Q4 24	—	$24M	$46M	$26M
Q1 25	—	$27M	$47M	$27M
Q2 25	—	$25M	$49M	$28M
Q3 25	—	$25M	$49M	$33M
Q4 25	—	$25M	$52M	$33M
Q2 26	—	$28M	$54M	$35M
Q3 26	—	$27M	$55M	$37M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$269M	$0	$269M
Q2 23	$241M	$0	$241M
Q3 23	$210M	$0	$210M
Q4 23	$177M	$0	$177M
Q1 24	$150M	$0	$150M
Q2 24	$128M	$0	$128M
Q3 24	$103M	$0	$103M
Q4 24	$88M	$0	$88M
Q1 25	$80M	$0	$80M
Q2 25	$82M	$0	$82M
Q3 25	$82M	$0	$82M
Q4 25	$84M	$0	$84M
Q1 26	$91M	$0	$91M
Q2 26	$98M	$0	$98M
Q3 26	$106M	$0	$106M
Q4 26	$74M	$0	$74M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 22	51M	+0.7%	+15.9%
Q1 23	52M	+1.1%	+14.4%
Q2 23	52M	+0.7%	+3.5%
Q3 23	53M	+0.5%	+3.1%
Q4 23	53M	+0.5%	+3.0%
Q1 24	53M	+0.9%	+2.7%
Q2 24	54M	+0.8%	+2.8%
Q3 24	55M	+2.7%	+5.0%
Q4 24	55M	-1.3%	+3.2%
Q1 25	57M	+3.9%	+6.2%
Q2 25	58M	+1.5%	+6.9%
Q3 25	58M	+0.7%	+4.8%
Q4 25	58M	+0.7%	+6.8%
Q1 26	59M	+1.1%	+4.0%
Q2 26	59M	+0.6%	+3.1%
Q3 26	61M	+3.8%	+6.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 22	$34.1K	2K
Q1 23	$37.2K	2K
Q2 23	$39.9K	2K
Q3 23	$43.0K	2K
Q4 23	$49.5K	2K
Q1 24	$54.2K	2K
Q2 24	$55.5K	2K
Q3 24	$59.3K	2K
Q4 24	$66.1K	1K
Q1 25	$70.4K	1K
Q2 25	$71.0K	1K
Q3 25	$74.3K	1K
Q4 25	$52.7K	2K
Q1 26	$55.7K	2K
Q2 26	$56.3K	2K
Q3 26	$57.8K	2K

Revenue / Employee