NYSE$PHR

Phreesia Inc · Q2 2025 earnings

Q2 2025 earnings · · Investor relations

Briefing

Phreesia's financial performance improved, with revenue increasing and the company achieving positive free cash flow.

Phreesia announced its Q2 Fiscal Year 2025 results, highlighting a 19% year-over-year increase in total revenue to $102.1 million and the achievement of positive free cash flow. The company is maintaining its revenue outlook for fiscal 2025 and updating its Adjusted EBITDA outlook.

  • Total revenue increased by 19% year-over-year, reaching $102.1 million.
  • Average number of healthcare services clients (AHSCs) increased by 21% year-over-year, reaching 4,169.
  • Free cash flow was $3.7 million, compared to negative $15.2 million in the same period of the prior year.
  • Net loss decreased to $18.0 million, compared to a net loss of $36.8 million in the same period of the prior year.

Headline financials

Total Revenue

$102M

Previous: $85.8M+19.0%
EPS

-$0.31

Previous: -$0.68+54.4%
Avg. Healthcare Clients

4.2K

No prior period
Revenue per AHSC

$24.4K

Previous: $24.9K-2.1%
Adjusted EBITDA

$6.53M

No prior period
Patient Payment Volume

$1.17B

No prior period
Payment Facilitator % Volume

80.0%

No prior period
Capital Expenditures

-$4.43M

Previous: -$2.1M-110.6%
Free Cash Flow

-$22.4M

Previous: -$38.9M+42.3%
Net Income

-$18M

Previous: -$36.8M+51.0%
Operating Income

-$17.2M

Previous: -$37M+53.4%
Gross Profit

$86M

Previous: $71.4M+20.4%
Cash & Equivalents

$81.8M

Previous: $128M-35.9%
Total Assets

$362M

Previous: $340M+6.4%
R&D Expense

$29.5M

No prior period
Stock-Based Comp

$16.4M

Previous: $18.6M-11.8%

Revenue & EPS history

Phreesia · Revenue · Quarterly

$102M

Q2 2025+19%vs Q2 2024
Beat estimate in 11 of 15 quarters(73%)
ActualEstimate

Revenue by segment

Phreesia · $91.6M total across 3 segments · Q3 2024

  • Subscription Services
    $42.6M+29.1%
  • Network Solutions
    $25.8M+26.0%
  • Payment Processing
    $23.2M+18.3%

Forward guidance

Phreesia is maintaining its revenue outlook for fiscal year 2025 and updating its Adjusted EBITDA outlook.

Tailwinds

  • Maintaining revenue outlook for fiscal 2025 of $416 million to $426 million, implying year-over-year growth of 17% to 20%.
  • Updating Adjusted EBITDA outlook for fiscal 2025 to a range of $26 million to $31 million from a previous range of $21 million to $26 million.
  • Expect AHSCs to reach approximately 4,200 for fiscal 2025 compared to 3,601 for fiscal 2024.
  • Expect Total revenue per AHSC to increase in fiscal 2025 compared to the $98,944 achieved in fiscal 2024.
  • Believe that the company's cash and cash equivalents, along with cash generated in normal operations, provide sufficient flexibility to reach fiscal 2025 and fiscal 2026 outlook.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 18 quarterly earnings reports · overlaid with Q2 2025

Historical avgQ2 2025

-1.6%

Avg return

Earnings day

+2.5%

Avg return

5 days after

+2.0%

Avg return

30 days after

54%

15 / 28 earnings

Positive

+21.4%

Q2 2023

Best reaction

-26.3%

Q4 2026

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q4 2026-26.3%-1.1%
Q1 2027+2.3%+13.3%
Q3 2026-22.8%-19.2%-16.0%
Q2 2026-9.8%-18.8%-25.4%
Q1 2026-6.6%-0.2%+14.2%
Q4 2025+6.9%+14.6%+1.1%
Q3 2025+11.1%+14.8%+30.8%
Q2 2025+7.9%+0.5%-6.8%
Q1 2025-13.3%-14.7%-2.9%
Q4 2024+1.7%-0.7%+1.0%
Q3 2024+17.8%+18.8%+45.2%
Q2 2024-21.2%-27.1%-39.1%
Q1 2024+3.6%+10.3%+4.0%
Q4 2023-13.5%-10.0%-5.7%
Q3 2023+18.7%+34.8%+20.0%
Q2 2023+21.4%+28.2%+4.9%
Q1 2023+11.9%+17.5%+40.1%
Q4 2022-11.9%+1.3%-23.6%
Q3 2022-20.2%-20.9%-32.9%
Q2 2022-12.4%-6.2%-15.4%
Q1 2022+6.6%+12.7%+24.2%
Q4 2021+2.5%+8.4%+3.3%
Q3 2021+7.3%+18.1%+16.2%
Q2 2021-3.2%-9.2%+3.5%
Q1 2021-6.7%-10.5%-13.1%
Q4 2020+4.2%+18.1%+30.6%
Q3 2020-1.0%-8.8%-6.9%
Q2 2020+0.2%+7.3%+1.2%
Q1 2020
Q4 2019
Q3 2018
Q2 2018
Q1 2018

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