Phreesia Q2 2023 Earnings Report
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
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