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Jul 31, 2025
Phreesia Q2 2026 Earnings Report
Phreesia reported its first GAAP-profitable quarter in Q2 2026, driven by operational efficiency and growth in client metrics.
Key Takeaways
Phreesia delivered strong results in Q2 2026 with its first quarter of GAAP profitability, a 239% YoY surge in adjusted EBITDA, and continued growth in its healthcare client base and revenue per client.
Revenue by Segment
Forward Guidance
Phreesia raised its FY26 revenue and adjusted EBITDA guidance following strong Q2 performance and announced the acquisition of AccessOne to expand capabilities.
Positive Outlook
- FY26 revenue guidance raised to $470M–$474M
- Adjusted EBITDA raised to $64M–$68M
- Acquisition of AccessOne expands patient payment solutions
- Expect GAAP net income for FY26
- Strong client growth and efficiency gains support profitability
Challenges Ahead
- Revenue growth rate lower than prior years
- Integration of AccessOne could introduce execution risk
- Payment volume concentration in PayFac could pose risks
- Operating margin pressure from continued investments
- Macroeconomic sensitivity in healthcare sector may impact client budgets
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
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