Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 1521 Concord Pike, Suite 301 PMB 221 Wilmington, DE (Address of Principal Executive Offices) (Zip Code) 1 (888) 654-7473 (Registrant's Telephone Number, Including Area Code) For the fiscal year ended January 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For t ...

Exhibit 99.1 Phreesia Announces Fourth Quarter Fiscal 2024 Results WILMINGTON, Delaware, March 14, 2024 – Phreesia, Inc. (NYSE: PHR) ("Phreesia" or the "Company") announced financial results today for the fiscal fourth quarter and fiscal year ended January 31, 2024. "Phreesia ended fiscal year 2024 with strong momentum going into fiscal 2025. We facilitated more than 150 million patient visits in fiscal 2024, or more than one in ten patient visits across the U.S. We are confident that our solutions and our ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Phreesia (PHR) reports results for the quarter ended January 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on March 14, 2024, might help the stock move higher if these key numbers are better than expecta ...

WILMINGTON, Del.--(BUSINESS WIRE)--Phreesia is proud to announce that its Chief Clinical Officer Hilary Hatch, PhD, has been selected to participate in the National Quality Forum (NQF)’s 2024-2025 Leadership Consortium. Dr. Hatch is one of only 29 healthcare leaders included in the prestigious group, underscoring her dedication to healthcare quality and patient-centered care. She was first named to the group for a two-year term in 2022. NQF’s Leadership Consortium is an exclusive forum of experts represent ...

WILMINGTON, Del.--(BUSINESS WIRE)--Phreesia, a leader in patient intake, outreach and activation, is proud to release data from an analysis of its cancer prevention campaigns illustrating the significant impact its platform can have on increasing rates of cancer screenings. By engaging patients at critical moments in their healthcare journey, Phreesia is driving an effort to ensure that cancer is caught early, at a stage when it can be treated with good health outcomes. The analysis revealed that when pati ...

Phreesia (PHR) is a Zacks Rank #1 (Strong Buy) that has a F for Value and B for Growth.  This is medical information systems company is flying under the radar of most investors as it is a small cap and currently losing money.  The thing is, the company recently accelerated it push to profitability.  Let’s explore more about this company in this Bull of The Day article.DescriptionPhreesia, Inc. engages in the provision of patient check-in solutions for medical practices. The firm offers appointments, clinica ...

WILMINGTON, Del.--(BUSINESS WIRE)--Phreesia, a leader in patient intake, outreach and activation, is pleased to announce that it has joined the National Adult and Influenza Immunization Summit’s Call to Action for Adult Immunizations campaign to improve adult vaccination rates. More than three in four adults are missing routinely recommended vaccines and, due to preventive care put on hold during the COVID-19 pandemic, low vaccination rates have worsened. The mission of the campaign is to encourage healthc ...

WILMINGTON, Del.--(BUSINESS WIRE)--Phreesia, a leader in patient intake, outreach and activation, is proud to announce that Audrey Gato, Vice President of Client Solutions, has been named to The Software Report’s list of the Top 50 Women Leaders in SaaS of 2023. Honorees were chosen based on their leadership and contributions to the Software-as-a-Service industry. This is the sixth consecutive year a female leader from Phreesia has been named to the list. Previous Phreesia awardees include Allison Hoffman, ...

WILMINGTON, Del.--(BUSINESS WIRE)--Phreesia is pleased to announce that the healthcare marketing industry trade publication PM360 has named the Post-Script Engagement, Phreesia’s new medication adherence solution, to its list of 2023 Most Innovative Marketing Technologies or Services. Over the last decade, PM360’s annual Innovations Issue has spotlighted the pharma industry’s most innovative companies, products, strategies, services and more. Phreesia’s Post-Script Engagement offering was one of 56 overall ...

Financial Performance - Total revenue increased 25% to $91.6 million for the three months ended October 31, 2023, compared to $73.1 million for the same period in 2022[155] - Net loss decreased to $31.9 million for the three months ended October 31, 2023, from a net loss of $40.2 million in the same period of 2022[155] - Adjusted EBITDA improved to negative $6.6 million for the three months ended October 31, 2023, compared to negative $18.3 million for the same period in 2022[155] - Total revenue for the three months ended October 31, 2023, was $91.6 million, an increase of 25% compared to $73.1 million in the same period in 2022[184] - Total revenue for the nine months ended October 31, 2023, was $261.3 million, an increase of 28% compared to $204.3 million in the same period in 2022[185] - Adjusted EBITDA for the nine months ended October 31, 2023, was $(31,918) thousand, an improvement from $(74,865) thousand in the same period of 2022[218] Client and Patient Metrics - Average number of healthcare services clients (AHSCs) increased to 3,688 for the three months ended October 31, 2023, from 2,982 in the same period of 2022[169] - Patient payment volume rose to $965 million for the three months ended October 31, 2023, compared to $815 million for the same period in 2022[171] - Total revenue per AHSC was $24,842 for the three months ended October 31, 2023, up 1% from $24,515 in the same period last year[184] - Healthcare services revenue per AHSC remained relatively flat at $17,845 for the three months ended October 31, 2023, compared to $17,645 in the prior year[184] Revenue Breakdown - Subscription and related services revenue increased by $9.6 million to $42.6 million for the three months ended October 31, 2023, representing a 29% growth year-over-year[186] - Payment processing fees revenue rose by $3.6 million to $23.2 million for the three months ended October 31, 2023, an 18% increase compared to the prior year[186] - Network solutions revenue increased by $5.3 million to $25.8 million for the three months ended October 31, 2023, a 26% growth year-over-year[186] - Subscription and related services revenue for the nine months ended October 31, 2023, increased by $26.6 million to $119.8 million, a 29% growth year-over-year[185] - Payment processing fees for the nine months ended October 31, 2023, increased by $12.5 million to $71.1 million, a 21% increase compared to the prior year[193] Expenses - Sales and marketing expense decreased by $0.2 million to $36.5 million for the three months ended October 31, 2023, compared to $36.6 million for the same period in 2022, primarily due to a $1.8 million decrease in total compensation and benefits costs[195] - Research and development expense increased by $5.9 million to $28.5 million for the three months ended October 31, 2023, representing a 26% increase compared to $22.7 million for the same period in 2022[199] - General and administrative expense increased by $0.6 million to $20.2 million for the three months ended October 31, 2023, reflecting a 3% increase from $19.6 million for the same period in 2022[203] - Sales and marketing expense decreased by $3.9 million to $111.1 million for the nine months ended October 31, 2023, a 3% decline from $115.0 million for the same period in 2022[197] - Research and development expense increased by $16.6 million to $82.5 million for the nine months ended October 31, 2023, representing a 25% increase compared to $65.8 million for the same period in 2022[201] - General and administrative expense increased by $0.6 million to $61.1 million for the nine months ended October 31, 2023, a 1% increase from $60.5 million for the same period in 2022[205] Cash Flow and Financial Position - Cash and cash equivalents decreased to $103.4 million as of October 31, 2023, down $73.3 million from January 31, 2023[155] - Free cash flow was negative $11.6 million for the three months ended October 31, 2023, compared to negative $27.5 million for the same period in 2022[155] - Free cash flow for the nine months ended October 31, 2023, was $(46,533) thousand, compared to $(93,828) thousand for the same period in 2022, indicating a 50.5% reduction in cash outflow[220] - During the nine months ended October 31, 2023, net cash used in operating activities was $29.3 million, a decrease from $74.2 million in the same period of 2022[239] - The company believes its cash and cash equivalents, along with cash generated from operations, are sufficient to fund operations for at least the next 12 months[232] Acquisitions - The company acquired MediFind for $8.9 million on June 30, 2023, to enhance patient-centered care offerings[161] - The acquisition of Access for $37.4 million on August 11, 2023, aims to improve workflows and patient experience in hospitals[162] - The company spent $14.3 million on acquisitions (MediFind, Access, and ConnectOnCall) during the nine months ended October 31, 2023[241] - The acquisition of ConnectOnCall included liabilities with an acquisition-date fair value of $10,000 thousand, payable in seven quarterly installments from December 2023 through June 2025[236] Debt and Financing - A new 5-year $50 million senior secured asset-based revolving credit facility was established on December 4, 2023, to enhance financial flexibility[166] - The company entered into a new 5-year $50 million Capital One Credit Facility on December 4, 2023, to replace the terminated Third SVB Facility[229] - As of October 31, 2023, the company had no debt outstanding under the Third SVB Facility and entered into the Capital One Credit Facility on December 4, 2023[255] - The company had no outstanding debt under the Capital One Credit Facility as of the filing date of the report[256] Market Risks and Accounting Policies - The company is exposed to market risks, primarily interest rate and foreign exchange risks, in its operations in the United States and Canada[253] - The company’s estimates and assumptions in financial reporting may differ from actual results, affecting future financial statements and cash flows[250] - There were no significant changes in the company's critical accounting policies and estimates during the three months ended October 31, 2023[251] - During the nine months ended October 31, 2023, there were no significant changes in the company's disclosures about market risk[257] - Changes in interest rates will impact interest expense if the company borrows against the Capital One Credit Facility in the future[256] - The company does not anticipate that a 100 basis point change in interest rates would materially affect its financial condition[254]