Thu, Sep 5, 8:04 PM (131 days ago)
For the quarter ending July 31, 2024, Phreesia, Inc. reported a 19% increase in total revenue to $102.1 million compared to $85.8 million in the same period last year. Subscription and related services revenue rose 24% to $48.6 million, while payment processing fees increased by 7% to $25.3 million. Despite this growth, the company incurred a net loss of $18.0 million, a decrease from a loss of $36.8 million in Q2 2023. Adjusted EBITDA turned positive at $6.5 million, contrasting with a negative $11.5 million in the prior year. Cash flow improved significantly, with $11.1 million generated from operations compared to a cash outflow of $9.3 million in the same quarter last year. However, cash and cash equivalents decreased to $81.8 million, down from $87.5 million at the start of the year. The company faces risks from competitive pressures, cybersecurity incidents, and potential regulatory changes affecting its operations. Future profitability is uncertain, contingent on maintaining client satisfaction and managing operational costs effectively.