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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.
Phreesia
Phreesia
Phreesia Revenue by Segment
Revenue by Segment
Subscription Services Revenue
CapyFin.comPayment Processing Revenue
CapyFin.com 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.
- Inability to reasonably predict items.
- Items could have a significant impact on the calculation of GAAP Net income (loss).
Revenue & Expenses
Visualization of income flow from segment revenue to net income