PHRMEDIUM SIGNALFINANCIAL10-K

Phreesia showed meaningful operational improvement with substantially reduced operating losses while maintaining solid revenue growth and expanding its balance sheet.

The company's operating performance improved dramatically, with losses narrowing substantially year-over-year, suggesting the business is moving toward profitability. The 14.5% revenue growth demonstrates continued market expansion, while the significant increase in total assets and stockholders' equity indicates a strengthened financial position.

Comparing 2026-03-31 vs 2025-03-13View on EDGAR →
FINANCIAL ANALYSIS

Phreesia delivered strong financial progress with revenue growing 14.5% to $480.6M while operating losses narrowed substantially from -$58.1M to -$6.6M. The balance sheet expanded meaningfully with total assets increasing 70.9% to $663.8M and stockholders' equity growing 27.3% to $337.2M, though current liabilities also rose 60.7%. The overall picture signals a company gaining operational efficiency while investing in growth, with improved cash generation supporting a stronger financial foundation.

FINANCIAL STATEMENT CHANGES
Operating Income
P&L
+88.6%
-$58.1M→-$6.6M

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

Total Assets
Balance Sheet
+70.9%
$388.4M→$663.8M

Asset base grew 70.9% — expansion through organic growth, acquisitions, or capital deployment.

Current Liabilities
Balance Sheet
+60.7%
$114.0M→$183.2M

Current liabilities surged 60.7% — significant near-term obligations; verify ability to meet short-term debt.

Current Assets
Balance Sheet
+37.7%
$203.3M→$279.8M

Current assets grew 37.7% — improving short-term liquidity or inventory/receivables build.

Total Debt
Balance Sheet
+37.2%
$1.9M→$2.7M

Debt increased 37.2% — substantial leverage increase; assess whether deployed for growth or covering losses.

Accounts Receivable
Balance Sheet
+32.4%
$73.6M→$97.5M

Receivables surged 32.4% — revenue recognized but not yet collected; watch for collection issues or channel stuffing.

Interest Expense
P&L
+31.4%
$1.4M→$1.9M

Interest expense surged 31.4% — significant debt increase or rising rates materially impacting earnings.

Capital Expenditure
Cash Flow
+27.5%
$8.7M→$11.1M

Capex increased 27.5% — ongoing investment in capacity or infrastructure for future growth.

Stockholders Equity
Balance Sheet
+27.3%
$264.8M→$337.2M

Equity base grew 27.3% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Revenue
P&L
+14.5%
$419.8M→$480.6M

Revenue growing 14.5% — solid top-line momentum, watch margins for quality of growth.

LANGUAGE CHANGES
NEW — 2026-03-31
PRIOR — 2025-03-13
ADDED
As of March 25, 2026, there were 60,763,065 shares of the registrant s common stock, par value $0.01 per share, outstanding.
We are a fully remote company, which subjects us to unique operational risks.
Artificial intelligence presents risks and challenges that can impact our business, including by increasing competition, posing security risks to our confidential information, proprietary information and personal data, and increasing our regulatory and compliance burden.
("Phreesia," "we," "our," or the "Company") was founded in 2005 and completed its initial public offering in July 2019.
Phreesia provides an integrated software, payments, and engagement platform designed to address three foundational challenges in healthcare delivery: access to care, affordability of care, and patient health outcomes.
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REMOVED
As of March 7, 2025, there were 58,772,448 shares of the registrant s common stock, par value $0.01 per share, outstanding.
We are a fully remote company that does not maintain a physical office presence, which subjects us to unique operational risks.
Business Overview We are a leading provider of comprehensive software solutions that improve the operational and financial performance of healthcare organizations and improve health outcomes by helping patients take a more active role in their care.
We have created an integrated and streamlined system that automates data capture and activates patients before, during and after their interaction with their healthcare services provider.
Our solutions include SaaS-based integrated tools that manage patient access, registration and payments.
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