Phreesia (PHR) AI Stock Analysis

• Market Cap: $1.42B
• Dividend Yield: N/A
• Average Volume (3M): 1.11M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.50
• Revenue Growth: 15.31%
• EPS Growth: 77.02%
• Country: US
• Employees: 2,082
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Healthcare Information Services
• EPS (TTM): 0.01
• Shares Outstanding: 59,914,474
• 10 Day Avg. Volume: 1,112,324
• 30 Day Avg. Volume: 1,107,686
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.11
• Enterprise Value/Revenue: 3.51
• Enterprise Value/Gross Profit: 4.84
• Enterprise Value/Ebitda: 230.37
• 1Y Price Target: $34.67
• Price Target Upside: 46.78% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 11

• Rating: 66 Neutral
• Price Target: $30.00 ▲(27.01% Upside)

Phreesia's overall stock score is driven by strong earnings call outcomes and solid financial performance, particularly in revenue growth and cost management. However, technical analysis and valuation present challenges, with mixed signals and a negative P/E ratio. The company's strategic initiatives and first-ever positive net income are significant positives, but profitability concerns remain.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong market demand and effective business strategies, supporting long-term expansion and stability.

Strategic Acquisition

The acquisition of AccessOne is set to significantly expand Phreesia's market reach and enhance its service offerings, driving future growth.

Positive Cash Flow

Improving cash flow metrics demonstrate Phreesia's ability to generate cash from operations, enhancing financial flexibility and investment capacity.

Negative Factors

Profitability Challenges

Ongoing profitability issues, as indicated by net losses, could hinder Phreesia's ability to reinvest and compete effectively in the long term.

Regulatory Risks

Regulatory hurdles for the AccessOne acquisition could delay or impede strategic expansion plans, affecting growth projections.

Flat Revenue Per Client

Flat revenue per client suggests potential saturation or competitive pressures, which may limit future revenue growth without strategic adjustments.

Phreesia Business Overview & Revenue Model

Company Description

Phreesia (PHR) is a healthcare technology company that specializes in patient intake management solutions. The company operates primarily in the healthcare sector, offering a platform designed to streamline the patient registration process, enhance patient engagement, and improve overall operational efficiency for healthcare providers. Phreesia's core products include patient check-in solutions, appointment scheduling, insurance verification, and patient communication tools, all aimed at optimizing the patient experience and administrative workflows in medical practices.

How the Company Makes Money

Phreesia generates revenue primarily through a subscription-based model, where healthcare providers pay for access to its platform and services. The company charges clients a monthly fee based on the number of patient encounters or the volume of services utilized. Key revenue streams include software licensing fees, transaction fees for payment processing, and fees for additional services such as analytics and reporting tools. Phreesia has also formed significant partnerships with electronic health record (EHR) providers and other healthcare technology companies, which help expand its market reach and enhance its service offerings, thereby contributing to its overall earnings.

Phreesia Financial Statement Overview

Summary

Phreesia demonstrates strong revenue growth and operational efficiency, as reflected in the income statement. However, profitability remains a challenge with continued net losses. The balance sheet is solid with low leverage, but the negative return on equity highlights profitability issues. Cash flow metrics are improving, indicating a positive cash generation trend. Overall, while Phreesia is growing and managing its cash well, achieving profitability remains a key challenge.

Income Statement

Phreesia has shown consistent revenue growth over the years, with a TTM revenue of $434.5 million, up from $280.9 million in 2023. The gross profit margin remains robust at 66.3% TTM, indicating strong operational efficiency. However, the company is still facing challenges with profitability, as evidenced by the negative net profit margin of -9.8% TTM. The EBIT and EBITDA margins are also negative, reflecting ongoing operational challenges.

Balance Sheet

The company's balance sheet shows a healthy equity position with a debt-to-equity ratio of 0.06 TTM, suggesting low leverage and financial risk. The equity ratio stands at 70.5% TTM, indicating a strong equity base. However, the return on equity is negative at -15.1% TTM due to the ongoing net losses, which is a concern for potential investors.

Cash Flow

Phreesia's cash flow statement reveals a positive trajectory, with free cash flow growing significantly, reaching $25.5 million TTM. The operating cash flow to net income ratio is favorable at -1.12 TTM, showcasing the company's ability to generate cash from operations despite net losses. The free cash flow to net income ratio is also positive, which is a promising sign of cash flow health.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	449.67M	419.81M	356.30M	280.91M	213.23M	148.68M
Gross Profit	326.11M	284.88M	232.29M	171.64M	131.84M	96.29M
EBITDA	6.85M	-25.58M	-104.00M	-145.48M	-92.30M	-7.62M
Net Income	-24.05M	-58.53M	-136.88M	-176.15M	-118.16M	-27.29M
Balance Sheet
Total Assets	408.63M	388.42M	370.33M	370.06M	494.48M	326.67M
Cash, Cash Equivalents and Short-Term Investments	98.27M	84.22M	87.52M	176.68M	313.81M	218.78M
Total Debt	4.75M	17.80M	11.98M	9.18M	15.80M	14.32M
Total Liabilities	110.64M	123.61M	118.88M	82.24M	77.20M	63.36M
Stockholders Equity	297.99M	264.81M	251.45M	287.82M	417.28M	263.31M
Cash Flow
Free Cash Flow	34.89M	8.29M	-57.48M	-116.33M	-105.52M	-15.69M
Operating Cash Flow	51.73M	32.38M	-32.38M	-90.12M	-74.71M	2.89M
Investing Cash Flow	-23.83M	-24.09M	-39.67M	-26.20M	-65.23M	-25.09M
Financing Cash Flow	-11.27M	-11.49M	-17.11M	-20.41M	234.97M	150.66M

Phreesia Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 23.62
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PHR, the sentiment is Negative. The current price of 23.62 is below the 20-day moving average (MA) of 26.38, below the 50-day MA of 27.22, and below the 200-day MA of 26.46, indicating a bearish trend. The MACD of -1.35 indicates Positive momentum. The RSI at 35.16 is Neutral, neither overbought nor oversold. The STOCH value of 34.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PHR.

Phreesia Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PINC	70 Neutral	2.30B	126.03	1.32%	3.02%	-24.79%	-78.38%
GDRX	66 Neutral	1.40B	43.53	6.67%	―	3.20%	―
PHR	66 Neutral	$1.42B	―	-8.76%	―	15.31%	77.02%
TDOC	51 Neutral	1.44B	-6.83	-14.58%	―	-2.57%	79.86%
TXG	50 Neutral	1.46B	-16.69	-10.94%	―	2.02%	65.33%
SDGR	50 Neutral	1.42B	-7.78	-52.89%	―	18.59%	10.96%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Phreesia Corporate Events

Phreesia Announces Merger with AccessOne to Expand Solutions

On August 29, 2025, Phreesia, Inc. announced a merger agreement with AccessOne, a leader in healthcare receivables financing, to expand its payment solutions. The merger, subject to customary conditions, will see AccessOne become a wholly owned subsidiary of Phreesia, enhancing its market position by integrating AccessOne’s platform. This strategic move is expected to improve Phreesia’s operational capabilities and market reach, benefiting stakeholders by potentially increasing revenue and operational efficiency. Additionally, Phreesia reported strong financial results for the second quarter of fiscal 2026, achieving its first-ever net income positive quarter, with a 15% increase in total revenue year-over-year.

Phreesia Holds Annual Stockholders’ Meeting

On June 25, 2025, Phreesia, Inc. held its annual stockholders’ meeting where three proposals were voted on. The stockholders elected two directors, Gillian Munson and Mark Smith, M.D., for a three-year term. Additionally, the appointment of KPMG LLP as the independent registered public accounting firm was ratified, and the compensation of named executive officers was approved on a non-binding, advisory basis.