Phreesia(PHR)2025-03-12 20:02Financial Performance - Total revenue for Q4 fiscal 2025 was $109.7 million, representing a 15% year-over-year increase[7] - Fiscal 2025 total revenue reached $419.8 million, an 18% increase year-over-year[7] - Total revenues for the three months ended January 31, 2025, increased to $109.681 million, up 15.5% from $95.005 million in the same period of 2024[22] - Subscription and related services revenue rose to $51.793 million, a 13.5% increase from $45.653 million year-over-year[22] - Payment processing fees grew to $24.676 million, reflecting a 5% increase compared to $23.508 million in the prior year[22] Profitability Metrics - Adjusted EBITDA for Q4 was $16.4 million, compared to negative $3.5 million in the same period last year[7] - Adjusted EBITDA for the three months ended January 31, 2025, was $16,373, compared to a loss of $3,461 for the same period in 2024[34] - Free cash flow for Q4 was $9.2 million, compared to negative $10.9 million in the same period last year[7] - Free cash flow for the fiscal year ended January 31, 2025, was $8,292, a significant improvement from a negative $57,475 in the previous year[37] - The company reported a net loss of $58.5 million for fiscal 2025, improved from a net loss of $136.9 million in fiscal 2024[7] - Net loss for the fiscal year ended January 31, 2025, was $(58.527) million, a significant reduction from $(136.885) million in the previous fiscal year[22] - The company reported a net loss of $6,390 for the three months ended January 31, 2025, compared to a net loss of $30,646 for the same period in 2024[34] Client Metrics - Average number of healthcare services clients (AHSCs) was 4,341 in Q4, up 10% year-over-year[7] - The company anticipates AHSCs to reach approximately 4,500 in fiscal 2026[9] - The average number of healthcare services clients (AHSCs) increased to 4,341 in Q1 2025 from 3,962 in Q1 2024, representing a growth of 9.6%[40] - Total revenue per AHSC for the fiscal year ended January 31, 2025, was $99,884, up from $98,944 in the previous year, indicating a growth of 0.9%[40] Cash and Liquidity - Cash and cash equivalents as of January 31, 2025, were $84.2 million, providing sufficient flexibility for future growth[10] - Cash and cash equivalents at the end of the period were $84.220 million, slightly down from $87.520 million a year earlier[26] - The company reported a net cash provided by operating activities of $16.256 million for the three months ended January 31, 2025, compared to a net cash used of $(3.078) million in the same period of 2024[26] Future Outlook - The outlook for fiscal 2026 revenue is projected to be between $472 million and $482 million[8] - Adjusted EBITDA for fiscal 2026 is expected to range from $78 million to $88 million[9] Operating Expenses - Operating loss for the three months ended January 31, 2025, improved to $(7.612) million from $(29.578) million in the same quarter of 2024[22] - GAAP operating expenses for the three months ended January 31, 2025, totaled $93,411, down from $100,696 in the same period of 2024, a decrease of 7.8%[39] - Stock-based compensation expense for the fiscal year ended January 31, 2025, was $66,975, compared to $71,613 in 2024, a reduction of 6.2%[39] Asset and Liability Overview - Total assets increased to $388.415 million as of January 31, 2025, compared to $370.326 million in the previous year[20] - Total liabilities rose to $123.607 million, up from $118.877 million year-over-year[20] Development Costs - Capitalized internal-use software development costs for the fiscal year ended January 31, 2025, were $15,380, down from $19,291 in 2024, a decrease of 20.0%[37] Payment Volume - Patient payment volume reached $1,080 million in Q1 2025, compared to $977 million in Q1 2024, reflecting an increase of 10.5%[41] - The payment facilitator volume percentage remained stable at 82% for both Q1 2025 and Q1 2024[41]