Phreesia (PHR) AI Stock Analysis

• Market Cap: $1.33B
• Dividend Yield: N/A
• Average Volume (3M): 571.44K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.11
• 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: 447,666
• 30 Day Avg. Volume: 571,438
• PEG Ratio: 0.47
• Price to Book (P/B): 6.19
• Price to Sales (P/S): 3.90
• P/FCF Ratio: 197.66
• Enterprise Value/Market Cap: 1.18
• Enterprise Value/Revenue: 3.51
• Enterprise Value/Gross Profit: 4.84
• Enterprise Value/Ebitda: 230.37
• 1Y Price Target: $34.33
• Price Target Upside: 55.90% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 11
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 64 Neutral
• Price Target: $25.00 ▲(13.53% Upside)

Phreesia's overall stock score is driven by strong earnings call results and financial performance improvements, particularly in revenue growth and cash flow. However, technical analysis and valuation present challenges, with bearish momentum and a negative P/E ratio. The company's strategic acquisitions and first positive net income are significant positives, but profitability and valuation concerns weigh on the overall score.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong market demand and effective business strategies, enhancing Phreesia's competitive position in the healthcare technology sector.

Strategic Acquisition

The acquisition of AccessOne is a strategic move to broaden Phreesia's market reach and strengthen its payment solutions, potentially driving significant long-term revenue growth.

Cash Flow Improvement

Improved cash flow enhances Phreesia's ability to reinvest in growth opportunities and maintain financial flexibility, supporting sustainable business development.

Negative Factors

Profitability Challenges

Ongoing profitability issues could hinder Phreesia's ability to generate sustainable earnings, affecting long-term financial health and investor confidence.

Regulatory Risks

Regulatory hurdles for the AccessOne acquisition may delay or prevent the expected market expansion, impacting Phreesia's strategic growth plans.

Flat Revenue Per Client

Stagnant revenue per client suggests potential challenges in increasing customer value, which could limit Phreesia's ability to drive per-client growth.

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 solid revenue growth and effective cost management, as evidenced by a high gross profit margin. The balance sheet is robust with low leverage, but profitability challenges persist, impacting return on equity. Cash flow improvements are notable, with significant growth in free cash flow, though further alignment with net income is needed.

Income Statement

Phreesia's income statement shows a positive trajectory in revenue growth, with a 3.48% increase in TTM. The gross profit margin is strong at 77.29%, indicating efficient cost management. However, the company is still facing challenges in profitability, as evidenced by a negative net profit margin of -5.35% and a low EBIT margin of -4.77%. The EBITDA margin is slightly positive at 1.52%, suggesting some improvement in operational efficiency.

Balance Sheet

The balance sheet reflects a stable financial position with a low debt-to-equity ratio of 0.016, indicating minimal leverage. The equity ratio is healthy, showing that a significant portion of the company's assets is financed by equity. However, the return on equity is negative at -8.75%, highlighting ongoing profitability challenges.

Cash Flow

Cash flow analysis reveals a strong free cash flow growth rate of 36.93%, indicating improved cash generation capabilities. The operating cash flow to net income ratio is 0.49, suggesting that cash flows are not yet fully supporting net income. The free cash flow to net income ratio of 0.67 shows progress towards positive cash flow alignment with earnings.

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: 22.02
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 22.02 is below the 20-day moving average (MA) of 22.86, below the 50-day MA of 24.16, and below the 200-day MA of 26.06, indicating a bearish trend. The MACD of -0.44 indicates Positive momentum. The RSI at 35.04 is Neutral, neither overbought nor oversold. The STOCH value of 19.47 is Positive, 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
GDRX	65 Neutral	$1.16B	36.79	4.90%	―	1.30%	―
PHR	64 Neutral	$1.33B	―	-8.76%	―	15.31%	77.02%
PINC	62 Neutral	$2.33B	-102.81	0.42%	2.99%	-21.26%	-119.34%
TXG	57 Neutral	$1.62B	―	-10.12%	―	1.92%	59.18%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
TDOC	48 Neutral	$1.35B	―	-15.42%	―	-2.37%	77.85%
SDGR	48 Neutral	$1.37B	―	-45.67%	―	32.90%	1.85%

Phreesia Corporate Events

Phreesia’s Strategic Gamble: Navigating Risks and Delays in the AccessOne Acquisition

Phreesia faces significant business risk due to uncertainties surrounding the AccessOne Acquisition, which is contingent on various conditions, including compliance with the HSR Act and obtaining necessary approvals. The anticipated closing in late fiscal 2026 could be delayed or derailed if these conditions are not met, potentially leading to increased costs and reputational damage. The inability to finalize the acquisition within the expected timeframe may also postpone the realization of anticipated benefits, further impacting the company’s strategic goals. This uncertainty poses a material threat to Phreesia’s business operations and market perception.

Phreesia’s Positive Earnings Call Highlights Strategic Growth

Phreesia’s Latest Earnings Call: A Positive Outlook Amid Strategic Moves

Phreesia Reports First Net Income Positive Quarter

Phreesia, Inc., a leader in patient activation solutions, provides digital tools to enhance patient engagement and improve healthcare outcomes across the U.S. healthcare sector. In its second quarter fiscal 2026 earnings report, Phreesia announced its first-ever net income positive quarter, alongside a significant acquisition agreement with AccessOne, a leader in healthcare receivables financing solutions. The company’s total revenue for the quarter was $117.3 million, marking a 15% year-over-year increase. The average number of healthcare services clients rose by 7%, and the total revenue per client also increased by 7%. Notably, Phreesia achieved a net income of $0.7 million, a significant turnaround from a net loss of $18.0 million in the previous year. Adjusted EBITDA saw a substantial rise to $22.1 million from $6.5 million year-over-year, and free cash flow improved to $9.6 million from $3.7 million. Looking ahead, Phreesia maintains its fiscal 2026 revenue outlook, anticipating revenues between $472 million and $482 million, with an updated Adjusted EBITDA forecast of $87 million to $92 million. The company is poised for further growth with the upcoming AccessOne acquisition, which is expected to enhance its payment solutions portfolio.

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.

The most recent analyst rating on (PHR) stock is a Buy with a $34.00 price target. To see the full list of analyst forecasts on Phreesia stock, see the PHR Stock Forecast page.