Phreesia, Inc. reported a significant increase in its financial performance for the fiscal year ending January 31, 2025, with total revenue rising 18% to $419.8 million, compared to $356.3 million in the previous fiscal year. The company also narrowed its net loss to $58.5 million from $136.9 million in fiscal 2024, while Adjusted EBITDA improved to $36.8 million from a negative $35.4 million. Cash provided by operating activities was $32.4 million, a notable turnaround from cash used in operations of $32.4 million in the prior year. As of January 31, 2025, Phreesia held $84.2 million in cash and cash equivalents, slightly down from $87.5 million a year earlier.
The company experienced notable changes in its customer base, with the average number of healthcare services clients (AHSCs) increasing by 17% to 4,203. This growth was driven by the addition of new clients and the expansion of services among existing clients. However, healthcare services revenue per AHSC decreased by 2% to $70,961, primarily due to a slower growth rate in payment processing volume compared to the increase in client numbers. Total revenue per AHSC saw a modest increase of 1% to $99,884, attributed to growth in network solutions revenue.
Strategically, Phreesia made several acquisitions during the fiscal year, including MediFind, Access eForms, and ConnectOnCall, which collectively enhanced its service offerings and market reach. The company also reported a gain of $2.3 million from a settlement related to the ConnectOnCall acquisition, which contributed positively to its financial results. Phreesia's workforce grew to 2,082 employees, with a significant portion based internationally, reflecting its commitment to expanding its operational capabilities.
Looking ahead, Phreesia's management expressed optimism about future growth, citing a robust market opportunity estimated at approximately $10 billion. The company plans to continue investing in product innovation and expanding its client base, particularly in the healthcare services sector. However, it also acknowledged potential risks, including competition from electronic health record (EHR) systems and the need to manage growth effectively to sustain its financial performance. The company remains focused on enhancing its technology solutions to improve patient engagement and operational efficiency for healthcare providers.
About Phreesia, Inc.
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