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Jan 31, 2022
Phreesia Q4 2022 Earnings Report
Announced financial results for the fiscal fourth quarter and fiscal year ended January 31, 2022.
Key Takeaways
Phreesia's Q4 revenue was $58.0 million, up 39% year-over-year. The average number of healthcare services clients was 2,311, a 28% increase year-over-year, with average revenue per client at $18,430, up 3% year-over-year. Adjusted EBITDA was negative $30.5 million, and cash and cash equivalents totaled $313.8 million.
Revenue was $58.0 million in the quarter, up 39% year-over-year.
Average number of healthcare services clients was 2,311 in the quarter, up 28% year-over-year.
Average revenue per healthcare services client was $18,430, up 3% year-over-year.
Adjusted EBITDA was negative $30.5 million in the quarter.
Revenue by Segment
Forward Guidance
For the full fiscal year 2023, revenue is expected to be between $271 million and $275 million, implying year-over-year growth of 27% to 29%. Adjusted EBITDA is expected to be between negative $154 million and negative $149 million.
Positive Outlook
- Revenue to be between $271 million and $275 million.
- Year-over-year revenue growth of 27% to 29% is expected.
- Expect to see operating leverage in the early part of fiscal year 2024
- Approach profitability in fiscal year 2025
- Introducing an annualized revenue target of $500 million to be achieved during a quarter of fiscal year 2025
Challenges Ahead
- Adjusted EBITDA to be between negative $154 million and negative $149 million.
- Adjusted EBITDA outlook in fiscal 2023 to be the low annual mark for fiscal years 2023 through 2025.
- Uncertainty and potential variability of Other income, net and Provision for (benefit from) income taxes.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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