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Jul 31, 2022
Phreesia Q2 2023 Earnings Report
Phreesia's financial performance increased in the second quarter of fiscal year 2023, with revenue increasing and healthcare service clients growing.
Key Takeaways
Phreesia announced strong second quarter fiscal year 2023 results, with revenue increasing 33% to $67.9 million and the average number of healthcare services clients growing by 40% to 2,776. The company updated its revenue outlook for fiscal year 2023 to a range of $273 million to $275 million and raised its Adjusted EBITDA outlook to a range of negative $109 million to negative $106 million.
Revenue was $67.9 million, a 33% increase compared to the same period in the prior year.
Average number of healthcare services clients was 2,776, a 40% increase compared to the same period in the prior year.
Average revenue per healthcare services client was $18,248, a 7% decrease compared to the same period in the prior year.
Adjusted EBITDA was negative $26.0 million, compared to negative $11.0 million in the same period in the prior year.
Phreesia
Phreesia
Phreesia Revenue by Segment
Revenue by Segment
Subscription Services Revenue
CapyFin.comPayment Processing Revenue
CapyFin.com Forward Guidance
Phreesia is updating its revenue outlook for fiscal year 2023 to a range of $273 million to $275 million and raising its Adjusted EBITDA outlook for fiscal year 2023 to a range of negative $109 million to negative $106 million.
Positive Outlook
- Revenue outlook for fiscal year 2023 updated to a range of $273 million to $275 million.
- Revenue outlook implies year-over-year growth of 28% to 29%.
- Expect average healthcare services clients to increase by at least 200 in the fiscal third quarter of 2023.
- Adjusted EBITDA outlook for fiscal year 2023 raised to a range of negative $109 million to negative $106 million.
- Expect Adjusted EBITDA outlook in fiscal year 2023 to be the low annual mark for fiscal years 2023 to 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income