Phreesia, Inc. reported a significant increase in financial performance for the third quarter of fiscal 2026, with total revenues reaching $120.3 million, a 13% increase from $106.8 million in the same period last year. For the nine months ending October 31, 2025, revenues rose 14% to $353.5 million compared to $310.1 million in the prior year. The company achieved a net income of $4.3 million for the quarter, a notable recovery from a net loss of $14.4 million in the same quarter of the previous year. Year-to-date, Phreesia reported a net income of $1.0 million, contrasting with a loss of $52.1 million for the same period last year.
The company’s operational metrics also showed improvement, with adjusted EBITDA increasing to $29.1 million for the quarter, up from $9.8 million a year earlier. Cash provided by operating activities was $15.5 million for the quarter, compared to $5.8 million in the prior year. Phreesia's cash and cash equivalents stood at $106.4 million as of October 31, 2025, reflecting a $22.2 million increase since January 31, 2025. The company also reported a free cash flow of $8.8 million for the quarter, compared to $1.6 million in the same period last year.
In terms of strategic developments, Phreesia completed the acquisition of AccessOne Parent Holdings, Inc. on November 12, 2025, for approximately $160 million. This acquisition is expected to enhance Phreesia's capabilities in providing financing solutions for healthcare receivables. The purchase was funded through a combination of cash and a new $110 million secured term loan, which will mature in November 2026. The company also amended its existing Capital One Credit Facility to accommodate this acquisition and the new loan.
Operationally, Phreesia reported an increase in its average number of healthcare services clients, reaching 4,520 for the quarter, up from 4,237 a year earlier. The total revenue per average healthcare services client also increased to $26,622, reflecting a 6% growth. The company continues to focus on expanding its market presence primarily within the United States, where it has historically generated most of its revenue. Phreesia's solutions are designed to improve patient engagement and operational efficiency for healthcare organizations, which is critical as the healthcare landscape evolves.
Looking ahead, Phreesia's management expressed confidence in the company's growth trajectory, supported by its strategic initiatives and the integration of AccessOne. However, they acknowledged potential risks, including market competition, regulatory changes, and economic conditions that could impact future performance. The company plans to leverage its strong cash position and operational improvements to navigate these challenges and continue its growth in the healthcare technology sector.
About Phreesia, Inc.
Phreesia, Inc. provides healthcare organizations with SaaS solutions that streamline patient intake, registration, payments, and communication. Its integrated platform enhances operational efficiency, patient engagement, and health outcomes across various medical specialties. Serving healthcare providers, life sciences companies, and government entities, it offers tools for appointment management, clinical assessments, and targeted patient education, supporting improved care delivery and revenue cycle management.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.