Phreesia, Inc. PHR
Phreesia, Inc. ("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. Our platform is embedded directly into provider workflows and patient interactions, enabling healthcare organizations to activate patients, streamline administrative processes, and improve financial performance across the care continuum.
We serve a diverse group of healthcare organizations including ambulatory practices, health systems, and hospitals, as well as life sciences companies, government entities, patient advocacy, public interest and not-for-profit and other organizations. Our solutions support the patient journey from care discovery and scheduling through intake, payment, and post-visit follow-up. In fiscal year 2026, our platform facilitated approximately 180 million patient visits, representing approximately one in six ambulatory patient visits in the United States.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $467.8M | $410.5M | $346.0M | $280.9M | $213.2M | $148.7M | $124.8M | $99.9M | $79.8M | — |
| R&D | $121.5M | $117.4M | $112.3M | $91.2M | $52.3M | $22.6M | $18.6M | $14.3M | $11.4M | — |
| SG&A | $79.9M | $76.6M | $79.9M | $80.4M | $68.7M | $40.5M | $30.5M | $20.1M | $18.8M | — |
| Total operating expenses | $487.2M | $477.9M | $492.8M | $457.5M | $330.1M | $174.3M | $140.1M | $109.4M | $94.4M | — |
| Operating income | -$6.6M | -$58.1M | -$136.5M | -$176.6M | -$116.8M | -$25.7M | -$15.3M | -$9.5M | -$14.6M | — |
| Interest expense | $7.0M | $2.3M | $1.9M | $1.4M | $1.2M | $1.7M | $3.0M | $3.5M | $3.6M | — |
| Pre-tax income | -$8.9M | -$55.8M | -$135.3M | -$175.7M | -$118.0M | -$27.2M | -$22.1M | -$15.1M | -$18.2M | — |
| Income tax | $11.2M | $2.7M | $1.5M | $483.0K | $182.0K | $49.0K | $1.8M | $0 | $0 | — |
| Net income | $2.3M | -$58.5M | -$136.9M | -$176.1M | -$118.2M | -$27.3M | -$20.3M | -$15.1M | -$18.2M | — |
| EPS, basic | 0.04 | -1.02 | -2.51 | -3.36 | -2.37 | -0.69 | -4.50 | — | — | — |
| EPS, diluted | 0.04 | -1.02 | -2.51 | -3.36 | -2.37 | -0.69 | -4.50 | -24.53 | -24.81 | — |
| Shares, diluted (wtd. avg.) | $61.5M | $57.6M | $54.6M | $52.4M | $49.9M | $39.5M | $20.3M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $73.8M | $84.2M | $87.5M | $176.7M | $313.8M | $218.8M | $90.3M | $1.5M | $10.5M | $2.3M |
| Receivables | $97.5M | $73.6M | $64.9M | $51.4M | $40.3M | $29.1M | $22.0M | $16.1M | — | — |
| Total current assets | $279.8M | $203.3M | $195.7M | $262.4M | $386.3M | $272.3M | $131.5M | $33.3M | — | — |
| Property, plant and equipment | — | — | — | — | — | $26.7M | $14.5M | $14.2M | — | — |
| Goodwill | $170.1M | $75.8M | $75.8M | $33.7M | $33.6M | $8.3M | $250.0K | $250.0K | — | — |
| Other intangibles | $79.8M | $28.1M | $31.6M | $11.4M | $12.8M | $2.7M | $1.2M | $1.4M | — | — |
| Total assets | $663.8M | $388.4M | $370.3M | $370.1M | $494.5M | $326.7M | $158.8M | $59.3M | — | — |
| Accounts payable | $11.5M | $5.6M | $8.5M | $10.8M | $5.1M | $4.4M | $6.0M | $3.8M | — | — |
| Short-term debt | — | — | — | — | — | — | $0 | $97.0K | — | — |
| Total current liabilities | $183.2M | $114.0M | $110.1M | $79.0M | $68.4M | $55.0M | $35.4M | $27.9M | — | — |
| Long-term debt | $2.7M | $1.9M | $3.1M | $246.0K | $360.0K | $1.6M | $19.4M | $27.9M | — | — |
| Total liabilities | $326.6M | $123.6M | $118.9M | $82.2M | $77.2M | $63.4M | $56.9M | $63.7M | — | — |
| Retained earnings | -$799.2M | -$801.5M | -$743.0M | -$606.1M | -$429.9M | -$311.8M | -$284.5M | -$211.0M | — | — |
| Total equity | $337.2M | $264.8M | $251.4M | $287.8M | $417.3M | $263.3M | $101.9M | -$211.0M | -$167.7M | -$130.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $78.8M | $32.4M | -$32.4M | -$90.1M | -$74.7M | $2.9M | $826.0K | -$2.1M | -$11.1M | — |
| Depreciation and amortisation | $31.5M | $27.9M | $29.5M | $25.3M | $21.3M | $15.9M | $13.9M | $11.6M | $9.6M | — |
| Stock-based compensation | $67.5M | $67.0M | $71.6M | $58.8M | $36.1M | $13.5M | $6.2M | $1.4M | $805.0K | — |
| Capital expenditure | $11.1M | $8.7M | $5.8M | $4.7M | $18.4M | $11.2M | $7.0M | $4.7M | $6.6M | — |
| Investing cash flow | -$161.9M | -$24.1M | -$39.7M | -$26.2M | -$65.2M | -$25.1M | -$12.3M | -$11.0M | -$12.0M | — |
| Financing cash flow | $72.9M | -$11.5M | -$17.1M | -$20.8M | $235.0M | $150.7M | $100.3M | $4.2M | $31.3M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001412408-26-000155.
Others in SIC 7389
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| MA | Mastercard Inc | $510.86B | 35.1x | 16.4% |
| RPAY | Repay Holdings Corp | $323.15B | — | -1.2% |
| UBER | Uber Technologies, Inc | $154.74B | 16.0x | 18.3% |
| ACN | Accenture plc | $114.31B | 15.4x | 7.4% |
| MELI | MERCADOLIBRE INC | $100.30B | 50.2x | 34.3% |
| DASH | DoorDash, Inc. | $91.98B | 99.4x | 27.9% |
| PYPL | PayPal Holdings, Inc. | $48.48B | 10.2x | 4.3% |
| EBAY | EBAY INC | $46.02B | 23.8x | 7.9% |