NYSE$PHR
Phreesia Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Announced third quarter fiscal 2023 results
Phreesia, Inc. reported a revenue of $73.1 million for the third quarter of fiscal year 2023, representing a 31% increase compared to the same period in the prior year. The average number of healthcare services clients increased by 42% to 2,982, while the average revenue per healthcare services client decreased by 9% to $17,645. The company's net loss was $40.2 million, and adjusted EBITDA was negative $18.3 million. Cash and cash equivalents totaled $209.6 million as of October 31, 2022.
- Revenue increased by 31% year-over-year, reaching $73.1 million.
- Average healthcare services clients increased by 42% to 2,982.
- Average revenue per healthcare services client decreased by 9% to $17,645.
- Net loss amounted to $40.2 million.
Headline financials
Revenue & EPS history
Phreesia · Revenue · Quarterly
$73.1M
Revenue by segment
Phreesia · $73.1M total across 3 segments · Q3 2023
- Subscription and related services$33M+35.4%45.1%
- Network solutions$20.5M—28.0%
- Payment solutions$19.6M+21.8%26.8%
Forward guidance
Phreesia is updating its revenue outlook for fiscal year 2023 to at least $278 million, implying year-over-year growth of 30%. The company expects average healthcare services clients to increase by approximately 150 in the fourth quarter of fiscal year 2023. They are also raising their Adjusted EBITDA outlook for fiscal year 2023 to approximately negative $95 million.
Tailwinds
- Revenue outlook for fiscal year 2023 updated to at least $278 million, up from a range of $273 million to $275 million.
- New revenue outlook implies year-over-year growth of 30%.
- Expect average healthcare services clients to increase by approximately 150 in the fourth quarter of fiscal year 2023.
- Expect fourth quarter subscription and related services revenue on a per average healthcare services client basis to remain roughly in line with our second and third quarter results.
- Adjusted EBITDA outlook for fiscal year 2023 raised to approximately negative $95 million from a range of negative $109 million to negative $106 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 17 quarterly earnings reports · overlaid with Q3 2023
-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
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2027 | — | — | — | |
| 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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