Loading...
•
Apr 30, 2023
Phreesia Q1 2024 Earnings Report
Phreesia announced financial results for the fiscal first quarter ended April 30, 2023.
Key Takeaways
Phreesia's total revenue was $83.8 million, a 32% increase compared to the same period last year. The average number of healthcare services clients increased by 31%, while net loss decreased from $51.2 million to $37.5 million.
Total revenue increased by 32% to $83.8 million compared to the same period in the prior year.
The average number of healthcare services clients increased by 31% to 3,309.
Net loss decreased to $37.5 million compared to $51.2 million in the same period in the prior year.
Adjusted EBITDA was negative $13.8 million compared to negative $30.6 million in the same period in the prior year.
Revenue by Segment
Forward Guidance
For the full fiscal year 2024 ending January 31, 2024, Phreesia expects revenue to be between $353 million and $356 million, implying year-over-year growth of 26% to 27%. Adjusted EBITDA outlook for fiscal year 2024 is raised to a range of negative $60 million and negative $55 million from a previous range of negative $65 million to negative $60 million.
Positive Outlook
- Revenue expected to be between $353 million and $356 million for fiscal year 2024.
- Year-over-year revenue growth of 26% to 27% is expected.
- Adjusted EBITDA outlook for fiscal year 2024 raised to a range of negative $60 million and negative $55 million.
- Strong performance in the first quarter contributed to the raised Adjusted EBITDA outlook.
- Maintaining $500 million revenue target to be achieved by annualizing our highest-revenue quarter in fiscal year 2025.
Challenges Ahead
- Adjusted EBITDA outlook for fiscal year 2024 remains negative.
- Uncertainty and potential variability of Other (income) expense, net.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...