Phreesia Q3 2022 Earnings Report
Key Takeaways
Phreesia announced its Fiscal Third Quarter 2022 results, reporting a 45% increase in revenue compared to the same period in the prior year. The company surpassed 100 million patient visits enabled by their platform during the previous twelve months. They are increasing their revenue outlook for fiscal year 2022 to $211 million.
Revenue was $55.9 million, a 45% increase year-over-year.
Average number of provider clients was 2,097, a 21% increase year-over-year.
Average revenue per provider client was $19,299, a 10% increase year-over-year.
Cash and cash equivalents totaled $400.4 million.
Phreesia
Phreesia
Phreesia Revenue by Segment
Forward Guidance
Phreesia is increasing its revenue outlook for Fiscal Year 2022 to $211 million. The Adjusted EBITDA outlook for Fiscal Year 2022 is negative $64 million. They expect revenue for Fiscal Year 2023 to grow in the range of 20 to 25% above Fiscal Year 2022 revenue.
Positive Outlook
- Revenue outlook for Fiscal Year 2022 increased to $211 million.
- Revenue for Fiscal Year 2023 is expected to grow in the range of 20 to 25% above Fiscal Year 2022 revenue.
Challenges Ahead
- Adjusted EBITDA outlook for Fiscal Year 2022 is negative $64 million.
- Continued acceleration in investments in Fiscal Year 2023 from Fiscal Year 2022 levels are anticipated.
Revenue & Expenses
Visualization of income flow from segment revenue to net income