Phreesia (PHR)
NYSE:PHR
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Phreesia
(NYSE:PHR)
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Rating:68Neutral
Price Target:
$10.00
▲(9.05% Upside)
Action:Reiterated
Date:05/28/26
The score is supported primarily by improving fundamentals—especially strong free cash flow and sustained profitability progress—plus an earnings call that maintained guidance and showed continued EBITDA improvement. These positives are tempered by weak technical trends (price below key moving averages with negative MACD) and execution/visibility risks in Network Solutions and subscription revenue.
Positive Factors
Strong free cash flow
Phreesia has converted recent profitability into durable cash generation, with TTM FCF of $76M and ~19% FCF growth. Strong cash conversion supports reinvestment, debt servicing, and acquisition integration flexibility, lowering liquidity risk across 2-6 months and beyond.
Negative Factors
Subscription revenue softness
Subscription contracts are core recurring revenue and price/volume moderation reduces visibility and lifetime value. A sequential decline signals potential churn, pricing pressure or delayed upsells that could erode predictable revenue and margin stability over the coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow
Phreesia has converted recent profitability into durable cash generation, with TTM FCF of $76M and ~19% FCF growth. Strong cash conversion supports reinvestment, debt servicing, and acquisition integration flexibility, lowering liquidity risk across 2-6 months and beyond.
Read all positive factors
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 (PHR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$583.77M
Dividend YieldN/A
Average Volume (3M)1.39M
Price to Earnings (P/E)47.3
Beta (1Y)1.05
Revenue Growth14.05%
EPS GrowthN/A
CountryUS
Employees2,082
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)0.15
Shares Outstanding61,774,290
10 Day Avg. Volume1,573,167
30 Day Avg. Volume1,388,065
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 Cap1.03
Enterprise Value/Revenue1.21
Enterprise Value/Gross Profit2.05
Enterprise Value/Ebitda14.20
Forecast
1Y Price Target
$14.33Price Target Upside56.31% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering18
EPS Forecast (FY)0.32
Revenue Forecast (FY)$515.67M
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 Earnings Call Summary
Earnings Call Date:May 27, 2026
(Q1-2027)
| % Change Since: |
Next Earnings Date:Sep 09, 2026
Earnings Call Sentiment Positive
The call presented multiple clear operating and financial positives: solid top-line growth (+13% YoY), strong adjusted EBITDA improvement (+~46% YoY) and a return to net income, improved operating and free cash flow, enhanced liquidity via refinancing and a larger securitization facility for Access One, and maintained full-year guidance. Headwinds included a sequential decline in subscription revenue, higher variability and lower-than-expected client commitments in Network Solutions for the back half of the year, and some dependence of Payment Solutions growth on the recent Access One acquisition. On balance, the positive operational and financial momentum, maintaining guidance, and strategic financing and product initiatives outweigh the listed challenges.Positive Updates
Revenue Growth
Total revenue for Q1 FY2027 was $130.9 million, up 13% year-over-year.
Negative Updates
Subscription Revenue Sequential Decline
Subscription revenue declined approximately 6% sequentially in Q1; management attributed some of the year-over-year subscription comps to a nonrecurring related services contribution in the prior year and noted deliberate moderation of subscription pricing to preserve retention and downstream monetization.
Read all updates
Q1-2027 Updates
Positive
Negative
Revenue Growth
Total revenue for Q1 FY2027 was $130.9 million, up 13% year-over-year.
Read all positive updates
Company Guidance
Phreesia reiterated its fiscal 2027 guidance: revenue of $510–$520 million (assuming ~ $37M contribution from Access One and no further M&A) and adjusted EBITDA of $125–$135 million, while reiterating mid‑single‑digit AHSC growth and low‑single‑digit total revenue per AHSC growth for the year; Q1 results supporting that outlook included revenue of $130.9M (+13% YoY), Payment Solutions growth of 40% and Network Solutions growth of 15%, adjusted EBITDA of $30.5M (23% margin), net income of $3.0M (third consecutive positive quarter), total managed payments of $1.786B and a Payment Solutions revenue rate of 2.3%; balance sheet and cash highlights: cash and equivalents $76.4M, $84M drawn on a new $275M senior secured revolver (repayment of prior bridge used $92M), PNC securitization facility increased to $300M, net cash from operations $23.9M and free cash flow $16.4M, and management said a May restructuring will generate meaningful annualized run‑rate expense savings.Phreesia Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
72
Positive
Cash Flow
83
Very Positive
| Breakdown | TTM | Jan 2026 | Jan 2025 | Jan 2024 | Jan 2023 | Jan 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 495.59M | 480.59M | 419.81M | 356.30M | 280.91M | 213.23M |
| Gross Profit | 294.11M | 294.44M | 284.88M | 232.29M | 171.64M | 131.84M |
| EBITDA | 42.37M | 29.47M | -25.58M | -102.94M | -145.48M | -92.30M |
| Net Income | 12.70M | 2.31M | -58.53M | -136.88M | -176.15M | -118.16M |
Balance Sheet | ||||||
| Total Assets | 666.14M | 663.79M | 388.42M | 370.33M | 370.06M | 494.48M |
| Cash, Cash Equivalents and Short-Term Investments | 74.71M | 73.83M | 84.22M | 87.52M | 176.68M | 313.81M |
| Total Debt | 92.56M | 102.45M | 17.80M | 11.98M | 9.18M | 15.80M |
| Total Liabilities | 307.05M | 326.58M | 123.61M | 118.88M | 82.24M | 77.20M |
| Stockholders Equity | 359.09M | 337.21M | 264.81M | 251.45M | 287.82M | 417.28M |
Cash Flow | ||||||
| Free Cash Flow | 75.98M | 67.71M | 8.29M | -57.48M | -116.33M | -105.52M |
| Operating Cash Flow | 87.89M | 78.81M | 32.38M | -32.38M | -90.12M | -74.71M |
| Investing Cash Flow | -149.69M | -161.88M | -24.09M | -39.67M | -26.20M | -65.23M |
| Financing Cash Flow | 49.45M | 72.85M | -11.49M | -17.11M | -20.80M | 234.97M |
Phreesia Technical Analysis
Neutral
9.17
Price Trends
9.54
Negative
11.56
Negative
17.21
Negative
Market Momentum
-0.15
Negative
52.32
Neutral
52.55
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PHR, the sentiment is Neutral. The current price of 9.17 is below the 20-day moving average (MA) of 9.30, below the 50-day MA of 9.54, and below the 200-day MA of 17.21, indicating a neutral trend. The MACD of -0.15 indicates Negative momentum. The RSI at 52.32 is Neutral, neither overbought nor oversold. The STOCH value of 52.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
72 Outperform | $1.01B | 48.37 | 3.31% | ― | -1.19% | -21.87% | |
68 Neutral | $583.77M | 47.31 | 3.87% | ― | 14.05% | ― | |
61 Neutral | $3.55B | -160.28 | -2.86% | ― | 2.26% | 86.67% | |
54 Neutral | $1.36B | -7.96 | -12.37% | ― | -1.50% | 83.75% | |
53 Neutral | $1.06B | -10.87 | -30.85% | ― | 10.59% | 46.79% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
PHR
Phreesia
9.86
-14.63
-59.74%
TDOC
Teladoc
7.61
0.69
9.97%
TXG
10x Genomics
28.31
18.78
197.01%
SDGR
Schrodinger
15.20
-6.42
-29.69%
GDRX
GoodRx Holdings
2.92
-1.00
-25.51%
Phreesia Corporate Events
Business Operations and Strategy
Phreesia Announces Workforce Restructuring to Cut Operating Costs
Negative
May 11, 2026
On May 7, 2026, Phreesia, Inc. implemented a restructuring plan aimed at reducing operating expenses and aligning its cost structure with current business priorities, including the elimination of about 220 positions, roughly half of which are cont...
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...
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.