NYSE$PHR

Phreesia Inc · Q3 2025 earnings

Q3 2025 earnings · · Investor relations

Briefing

Phreesia's network grew, adoption of current offerings increased, and new solutions began to show promise.

Phreesia announced its Q3 Fiscal Year 2025 results, with total revenue up 17% year-over-year. The company narrowed its revenue outlook for fiscal 2025 to a range of $418 million to $420 million and updated its Adjusted EBITDA outlook for fiscal 2025 to a range of $34 million to $36 million.

  • Total revenue was $106.8 million, up 17% year-over-year.
  • Average number of healthcare services clients (AHSCs) was 4,237, up 15% year-over-year.
  • Net loss decreased to $14.4 million compared to $31.9 million in the same period of the prior year.
  • Adjusted EBITDA was $9.8 million compared to negative $6.6 million in the same period in the prior year.

Headline financials

Total Revenue

$107M

Previous: $91.6M+16.6%
EPS

-$0.25

Previous: -$0.58+56.9%
Avg. Healthcare Clients

4.2K

Previous: 3.7K+14.9%
Revenue per AHSC

$25.2K

Previous: $24.8K+1.5%
Adjusted EBITDA

$9.77M

No prior period
Patient Payment Volume

$1.08B

Previous: $965M+12.0%
Payment Facilitator % Volume

81.0%

Previous: 82.0%-1.2%
Capital Expenditures

-$616K

Previous: -$3.34M+81.6%
Free Cash Flow

-$15M

Previous: -$35.3M+57.4%
Net Income

-$14.4M

Previous: -$31.9M+54.9%
Operating Income

-$13.8M

Previous: -$32M+56.8%
Gross Profit

$88.9M

Previous: $76.1M+16.9%
Cash & Equivalents

$81.7M

Previous: $103M-20.9%
Total Assets

$376M

Previous: $375M+0.3%
R&D Expense

$29.3M

Previous: $28.5M+2.7%
Stock-Based Comp

$16.5M

Previous: $18M-8.0%

Revenue & EPS history

Phreesia · Revenue · Quarterly

$107M

Q3 2025+16.6%vs Q3 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

The company is narrowing its revenue outlook for fiscal 2025 to a range of $418 million to $420 million, implying year-over-year growth of 17% to 18%. It is updating its Adjusted EBITDA outlook for fiscal 2025 to a range of $34 million to $36 million.

Tailwinds

  • Revenue outlook for fiscal 2025 narrowed to $418 million - $420 million, implying 17-18% year-over-year growth.
  • Adjusted EBITDA outlook for fiscal 2025 updated to $34 million - $36 million.
  • Expectation for AHSCs to reach approximately 4,200 for fiscal 2025.
  • Expect Total revenue per AHSC to increase in fiscal 2025.
  • Expect AHSCs to reach approximately 4,500 in fiscal 2026.

Headwinds

  • Revenue range provided for fiscal 2026 assumes no additional revenue from potential future acquisitions.
  • Uncertainty and potential variability of Other (income) expense, net and (Benefit from) provision for income taxes.
  • Assets being depreciated and amortized may have to be replaced in the future.
  • Adjusted EBITDA does not reflect changes in working capital needs.
  • Adjusted EBITDA does not reflect the potentially dilutive impact of non-cash stock-based compensation.

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 Q3 2025

Historical avgQ3 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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