Phreesia Secures New $275 Million Revolving Credit Facility

Phreesia ( (PHR) ) just unveiled an update.

On March 13, 2026, Phreesia, Inc. entered into a new senior secured revolving credit facility of up to $275 million with Capital One, borrowing approximately $92.2 million at closing to refinance its existing bridge loan tied to the AccessOne Acquisition and to support general corporate uses. In connection with the new facility, the company fully repaid and terminated, without penalty, both its $110 million bridge loan with Goldman Sachs and its $50 million asset-based revolver with Capital One, a move management says lowers borrowing costs, strengthens long-term financial flexibility and consolidates its capital structure under a larger, covenant-based revolving line.

The New Credit Facility, which includes swingline and letter-of-credit sublimits, is secured by first-priority liens on substantially all of Phreesia’s U.S. assets and is guaranteed by certain domestic subsidiaries, bringing with it customary financial covenants such as total net leverage and fixed charge coverage ratios. By replacing short-term acquisition financing and a smaller ABL facility with a larger, long-term revolving structure, Phreesia gains expanded liquidity for working capital, capital expenditures and potential acquisitions while subjecting itself to standard lender protections and default provisions that could accelerate repayment if breached.

The most recent analyst rating on (PHR) stock is a Buy with a $30.00 price target. To see the full list of analyst forecasts on Phreesia stock, see the PHR Stock Forecast page.

Spark’s Take on PHR Stock

According to Spark, TipRanks’ AI Analyst, PHR is a Neutral.

The score reflects improving business momentum and upbeat guidance from the latest earnings call, supported by a strong balance sheet and improving cash flow trends. These positives are tempered by clearly bearish technicals and limited valuation support given the negative P/E and lack of dividend yield.

To see Spark’s full report on PHR stock, click here.

More about Phreesia

Phreesia, Inc. is a healthcare technology company and a leader in patient activation, providing digital tools that help healthcare providers, life sciences companies and other organizations engage patients more actively in their care. Founded in 2005, the company supports patient-driven digital intake, outreach and education, and enabled approximately 170 million patient visits in 2024, representing about one in seven visits across the U.S.

Phreesia’s platform is designed to enhance the patient experience, drive operational efficiency for healthcare organizations and improve clinical outcomes, giving it a scaled presence in the U.S. healthcare market. Its solutions focus on digitizing front-end patient interactions and communications, positioning the company as an infrastructure partner for providers and life sciences firms seeking to modernize patient engagement.

Average Trading Volume: 1,487,028

Technical Sentiment Signal: Sell

Current Market Cap: $661.3M

For detailed information about PHR stock, go to TipRanks’ Stock Analysis page.