Phreesia (PHR)
NYSE:PHR
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Phreesia
(NYSE:PHR)
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Rating:56Neutral
Price Target:
$10.00
▲(9.05% Upside)
Action:ReiteratedDate:05/05/26
The score is driven primarily by improving fundamentals—sharp margin expansion and a strong swing to positive operating/free cash flow—supported by earnings-call evidence of profitability progress. These positives are tempered by weaker technical trends (below key moving averages with negative MACD), very expensive valuation (P/E ~348 with no dividend yield), and reduced FY27 revenue guidance that raises uncertainty in a higher-margin segment.
Positive Factors
Cash generation
Phreesia’s material swing to positive operating cash flow and strong free cash flow improves self-funding capacity for capex, integrations, and M&A. Durable cash generation reduces reliance on equity raises, supports reinvestment and margin sustainability if the company maintains operating discipline.
Negative Factors
Lowered revenue guidance
Management’s material downward revision to fiscal 2027 revenue reduces growth visibility and suggests demand softness. Slower top-line growth can constrain operating leverage and delay margin-to-net-income conversion, forcing tougher trade-offs between growth investments and margin protection.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Phreesia’s material swing to positive operating cash flow and strong free cash flow improves self-funding capacity for capex, integrations, and M&A. Durable cash generation reduces reliance on equity raises, supports reinvestment and margin sustainability if the company maintains operating discipline.
Read all positive factors
Phreesia (PHR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$587.58M
Dividend YieldN/A
Average Volume (3M)2.44M
Price to Earnings (P/E)347.9
Beta (1Y)1.02
Revenue Growth14.48%
EPS GrowthN/A
CountryUS
Employees2,082
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)0.03
Shares Outstanding60,763,065
10 Day Avg. Volume2,132,127
30 Day Avg. Volume2,444,142
Financial Highlights & Ratios
PEG Ratio-3.35
Price to Book (P/B)2.38
Price to Sales (P/S)1.67
P/FCF Ratio11.85
Enterprise Value/Market Cap1.05
Enterprise Value/Revenue1.28
Enterprise Value/Gross Profit2.09
Enterprise Value/Ebitda20.91
Forecast
1Y Price Target
$15.13Price Target Upside65.03% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering16
EPS Forecast (FY)0.32
Revenue Forecast (FY)$515.88M
Phreesia Business Overview & Revenue Model
Company Description
Phreesia, Inc. provides an integrated SaaS-based software and payment platform for the healthcare industry in the United States and Canada. Its Phreesia Platform offers a suite of solutions to manage the patient intake process, as well as an integ...
How the Company Makes Money
Phreesia primarily makes money by selling access to its software platform and related services to healthcare provider organizations. The company’s revenue model is largely recurring and includes (1) subscription-based fees for use of its patient i...
Phreesia Key Performance Indicators (KPIs)
Any
Take Rate
Indicates the percentage of transaction value Phreesia retains as revenue, highlighting its pricing power and efficiency in monetizing services.
Indicates the percentage of transaction value Phreesia retains as revenue, highlighting its pricing power and efficiency in monetizing services.
Data provided by:
The Fly
The FlyPhreesia Earnings Call Summary
Earnings Call Date:Mar 30, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:May 28, 2026
Earnings Call Sentiment Positive
The call highlights substantial progress on profitability and cash generation (first full-year positive GAAP net income, >$100M Adjusted EBITDA, >$50M free cash flow) and successful financing and acquisition integration (AccessOne performing as expected). Management preserved fiscal 2027 Adjusted EBITDA guidance and emphasized AI-driven efficiency opportunities. However, the company reduced fiscal 2027 revenue guidance due to shorter visibility and reduced commitments from certain pharmaceutical clients (notably vaccines and some public health spend), creating variability concentrated in the higher-margin Network Solutions segment. New initiatives (ProviderConnect) and AccessOne expansion offer upside but remain early-stage. Overall, the results show meaningful financial strength and execution, offset by near-term top-line uncertainty in a key segment.Positive Updates
Quarterly Revenue Growth
Q4 revenue was $127.1M, up 16% year-over-year; excluding the AccessOne acquisition, revenue grew 7% YoY.
Negative Updates
Lowered Fiscal 2027 Revenue Guidance
Fiscal 2027 revenue outlook was reduced to $510M–$520M from the prior $545M–$559M range, a reduction of $35M–$39M (≈6–7% of prior range), driven primarily by weaker visibility and reduced commitments in Network Solutions.
Read all updates
Q4-2026 Updates
Positive
Negative
Quarterly Revenue Growth
Q4 revenue was $127.1M, up 16% year-over-year; excluding the AccessOne acquisition, revenue grew 7% YoY.
Read all positive updates
Company Guidance
Phreesia updated fiscal 2027 guidance, lowering revenue to $510.0M–$520.0M (prior range $545.0M–$559.0M) while maintaining Adjusted EBITDA of $125.0M–$135.0M; the company expects AHSC growth in the mid-single-digit percent range and total revenue per AHSC to grow in the low-single-digit percent range (vs. prior low-double-digit expectation), assumes no incremental revenue from acquisitions through 01/31/2027, and expects payment processing (ex‑AccessOne) to grow in the single digits. Key Q4/FY26 metrics cited on the call included Q4 revenue $127.1M (up 16% YoY; +7% ex‑AccessOne), Q4 Adjusted EBITDA $29.4M (23% margin), Q4 net cash from operations $33.7M (+$17.4M YoY), Q4 free cash flow $28.5M (+$19.3M YoY), FY26 milestones of >$100M Adjusted EBITDA, >$50M free cash flow and positive GAAP net income, Q4 AHSCs 4,658 (+138 QoQ; 80 from AccessOne) with Q4 total revenue per AHSC $27,279 (+8% YoY), cash & equivalents $73.8M (01/31/2026), and the March refinancing: $275M senior secured revolver (maturity 03/13/2031) with $92M drawn to repay the bridge loan and unused capacity available for working capital, capex, M&A and potential share repurchases or debt paydown.Phreesia Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
58
Neutral
Cash Flow
74
Positive
| Breakdown | Jan 2026 | Jan 2025 | Jan 2024 | Jan 2023 | Jan 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 480.59M | 419.81M | 356.30M | 280.91M | 213.23M |
| Gross Profit | 294.44M | 284.88M | 232.29M | 171.64M | 131.84M |
| EBITDA | 29.47M | -25.58M | -102.94M | -145.48M | -92.30M |
| Net Income | 2.31M | -58.53M | -136.88M | -176.15M | -118.16M |
Balance Sheet | |||||
| Total Assets | 663.79M | 388.42M | 370.33M | 370.06M | 494.48M |
| Cash, Cash Equivalents and Short-Term Investments | 73.83M | 84.22M | 87.52M | 176.68M | 313.81M |
| Total Debt | 102.45M | 17.80M | 11.98M | 9.18M | 15.80M |
| Total Liabilities | 326.58M | 123.61M | 118.88M | 82.24M | 77.20M |
| Stockholders Equity | 337.21M | 264.81M | 251.45M | 287.82M | 417.28M |
Cash Flow | |||||
| Free Cash Flow | 67.71M | 8.29M | -57.48M | -116.33M | -105.52M |
| Operating Cash Flow | 78.81M | 32.38M | -32.38M | -90.12M | -74.71M |
| Investing Cash Flow | -161.88M | -24.09M | -39.67M | -26.20M | -65.23M |
| Financing Cash Flow | 72.85M | -11.49M | -17.11M | -20.41M | 234.97M |
Phreesia Technical Analysis
Negative
9.17
Price Trends
11.03
Negative
13.99
Negative
19.72
Negative
Market Momentum
-0.77
Negative
41.45
Neutral
80.74
Negative
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 9.17 is below the 20-day moving average (MA) of 9.65, below the 50-day MA of 11.03, and below the 200-day MA of 19.72, indicating a bearish trend. The MACD of -0.77 indicates Negative momentum. The RSI at 41.45 is Neutral, neither overbought nor oversold. The STOCH value of 80.74 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PHR.
Phreesia Risk Analysis
Phreesia disclosed 57 risk factors in its most recent earnings report. Phreesia reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Phreesia Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.89B | -46.73 | -5.69% | ― | 5.25% | 77.07% | |
63 Neutral | $873.56M | 31.72 | 4.84% | ― | 0.57% | 94.69% | |
56 Neutral | $587.58M | 347.91 | 0.75% | ― | 14.48% | ― | |
56 Neutral | $1.17B | -3.82 | -12.37% | ― | -1.50% | 83.75% | |
52 Neutral | $914.69M | 10.10 | -29.47% | ― | 23.29% | 45.23% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
PHR
Phreesia
9.67
-15.57
-61.69%
TDOC
Teladoc
6.63
-0.52
-7.27%
TXG
10x Genomics
21.65
13.04
151.45%
SDGR
Schrodinger
12.90
-13.08
-50.35%
GDRX
GoodRx Holdings
2.50
-2.19
-46.70%
Phreesia Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Phreesia Expands Receivables Facility and Guarantees Obligations
Positive
May 4, 2026
On April 30, 2026, Phreesia’s indirect subsidiaries AccessOne Funding and AccessOne MedCard amended their existing receivables purchase facility with PNC Bank, increasing the facility limit from $200 million to $300 million and extending its...
Business Operations and StrategyPrivate Placements and Financing
Phreesia Secures New $275 Million Revolving Credit Facility
Positive
Mar 16, 2026
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 Acqu...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Phreesia Adds Jon Kessler to Board of Directors
Positive
Feb 23, 2026
On February 23, 2026, Phreesia announced the appointment of industry veteran Jon Kessler to its Board of Directors, effective April 6, 2026, bringing decades of experience leading technology-driven healthcare financial services companies such as W...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.