Financial Data and Key Metrics Changes - Total revenue for Q2 2026 was $117.3 million, representing a 15% year-over-year increase [10] - Achieved net income of $700,000, marking the first positive net income quarter in company history [10][11] - Adjusted EBITDA was $22 million, an increase of $16 million year-over-year, with an adjusted EBITDA margin of 19% [10] - Cash and cash equivalents at the end of the quarter were $98.3 million, up from $90.9 million in the prior quarter [11] - Operating cash flow was $14.8 million, up $3.8 million year-over-year, and free cash flow was $9.6 million, up $6 million year-over-year [11] Business Line Data and Key Metrics Changes - Average healthcare services clients increased to 4,467, up 298 from the prior year [10] - Total revenue per average healthcare services client was $26,249, up 7% year-over-year and flat quarter-over-quarter [10] Market Data and Key Metrics Changes - The acquisition of AccessOne is expected to expand the addressable market by approximately $6 billion, increasing the total addressable market to about $24 billion from approximately $10 billion [9][10] Company Strategy and Development Direction - The acquisition of AccessOne for $160 million is seen as a strategic move to enhance payment solutions and expand market reach [5][9] - The company aims to strengthen its financial profile and support clients with innovative payment solutions through this acquisition [9] - The introduction of new products like Voice AI is expected to drive engagement and revenue opportunities in the network solutions business [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential of the company, highlighting the importance of the AccessOne acquisition and the positive feedback on new products [5][21] - The company is maintaining its revenue outlook for fiscal year 2026 at a range of $472 million to $482 million and updating its adjusted EBITDA outlook to a range of $87 million to $92 million [12] Other Important Information - The company achieved positive operating cash flow and free cash flow for four consecutive quarters [11] - The AccessOne acquisition is expected to close in the third or early fourth quarter of fiscal 2026, subject to customary closing conditions and regulatory approvals [8] Q&A Session Summary Question: Development of AccessOne deal - Management has been monitoring AccessOne for years and believes it aligns well with their mission, making it a strategic acquisition [15] Question: Phreesia Voice AI product impact - The Voice AI product is expected to create more engagement opportunities and has received positive feedback from providers [20][21] Question: Revenue mix from AccessOne - The risk in the payment plans is shared between PNC Bank and the provider, with Phreesia not bearing the risk [35] Question: Growth rate of AccessOne - Management did not disclose historical growth rates but emphasized their intention to invest and grow AccessOne post-acquisition [53] Question: Customer overlap between Phreesia and AccessOne - There is some customer overlap, and more details will be shared post-acquisition [64] Question: AI product monetization - The company is currently monetizing AI products and sees significant market potential for these solutions [67]