Phreesia Q4 2022 Earnings Report
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
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