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Jan 31, 2023
Phreesia Q4 2023 Earnings Report
Phreesia reported financial results for Q4 2023, showing revenue increase but a net loss.
Key Takeaways
Phreesia's Q4 2023 saw a 32% increase in revenue year-over-year, reaching $76.6 million. However, the company experienced a net loss of $38.0 million, though an improvement from the previous year's $46.5 million. The average number of healthcare services clients increased by 36% year-over-year.
Revenue increased to $76.6 million, up 32% year-over-year.
Average number of healthcare services clients was 3,140, a 36% increase year-over-year.
Net loss was $38.0 million, an improvement compared to $46.5 million in the same period last year.
Cash and cash equivalents totaled $176.7 million as of January 31, 2023.
Revenue by Segment
Forward Guidance
For the full fiscal year 2024 ending January 31, 2024, we expect revenue to be between $353 million and $356 million, implying year-over-year growth of 26% to 27%. For the full fiscal year 2024, ending January 31, 2024, we expect Adjusted EBITDA to be between negative $65 million and negative $60 million.
Positive Outlook
- Revenue is expected to be between $353 million and $356 million.
- Year-over-year revenue growth of 26% to 27% is anticipated.
- Maintaining $500 million revenue target to be achieved by annualizing our highest-revenue quarter in fiscal year 2025.
- Continue to expect to reach profitability in fiscal year 2025.
- Cash and cash equivalents, along with cash generated in the normal course of business, can support our path to our fiscal year 2025 targets.
Challenges Ahead
- Adjusted EBITDA is expected to be between negative $65 million and negative $60 million.
- Uncertainty and potential variability of Other (income) expense, net.
- Uncertainty and potential variability of (Benefit from) provision for 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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