Phreesia, Inc.
phreesia.comWhat Do They Do?
Provides integrated software, payment tools and patient-engagement services for healthcare providers, life sciences companies, and government and nonprofit organizations.
10-K for FY2026, filed Mar 31, 2026Phreesia, Inc. ("Phreesia," "we," "our," or the "Company") was founded in 2005 and completed its initial public offering in July 2019.…View ↗
We serve a diverse group of healthcare organizations including ambulatory practices, health systems, and hospitals, as well as life…View ↗
We generate revenue through a diversified model that includes three revenue streams: subscription and related services; payment solutions…View ↗
How Do They Make Money?
Healthcare providers pay recurring software fees, typically billed monthly, and processing fees based on patient transactions, billed monthly. Phreesia also earns financing fees tied to cardholder receivables; life sciences companies and other organizations pay under annual contracts priced per engagement.
10-K for FY2026, filed Mar 31, 2026In most cases, the Company generates subscription fees from clients based on the number of healthcare services clients that utilize the…View ↗
The Company generates revenue from payment processing fees based on the levels of patient payment volume resulting from credit and debit…View ↗
The Company recognizes the payment processing fees when the transaction occurs (i.e., when the processing services are completed). The…View ↗
The Company generates revenue primarily from providing integrated SaaS-based software and payment solutions for the healthcare industry.…View ↗
Our business model provides meaningful visibility into future revenue, as our revenue is primarily derived from recurring subscription fees…View ↗
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10-K for FY2026, filed Mar 31, 2026
FY2026 revenue by product or service ↗
$480.6M
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10-K for FY2026, filed Mar 31, 2026
$480.6M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Subscription and related services
Recurring
10-K for FY2026, filed Mar 31, 2026 |
46%
FY2023: 46%
|
Subscription and related services, FY2026
$219.5M Sources
|
Recurring |
|
Payment solutions
Usage-based
10-K for FY2026, filed Mar 31, 2026 |
25% |
Payment solutions, FY2026
$121.5M Sources
|
Usage-based |
|
Network solutions
Mix
10-K for FY2026, filed Mar 31, 2026 |
29%
FY2023: 26%
|
Network solutions, FY2026
$139.7M Sources
|
Mix |
Who Are Their Customers?
Healthcare providers, life sciences companies, and government, advocacy and nonprofit organizations buy through Phreesia's direct sales teams.
10-K for FY2026, filed Mar 31, 2026
Do Revenues Turn Into Profits?
Yes. It kept less than a cent of every revenue dollar as net income in FY2026 and turned 14 cents into free cash flow.
10-K for FY2026, filed Mar 31, 2026
−$6.6MView ↗
10-K for FY2026, filed Mar 31, 2026
$2.3MView ↗
10-K for FY2026, filed Mar 31, 2026
$67.7MView ↗
How Are They Changing?
10-Q for Q2 FY2027, filed Sep 3, 2026
Open tableView ↗
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Sep 2, 2026
Maintained fiscal 2027 revenue and adjusted EBITDA outlook
The company kept its revenue outlook at $510 million to $520 million and adjusted EBITDA outlook at $125 million to $135 million.
Sources
8-K, filed Sep 2, 2026
We are maintaining our revenue outlook for fiscal 2027. We expect revenue to be in the range of $510 million to $520 million. As we noted…View ↗
Growing. Revenue grew 2.3x in 4 years, from $213.2M in FY2022 to $480.6M in FY2026, about 23% a year.
Provider payment card
The earlier report described patient payment collection and flexible payment options; the latest adds a healthcare payment card for providers through the AccessOne acquisition.
10-K for FY2023, filed Mar 23, 2023 10-K for FY2026, filed Mar 31, 2026In fiscal year 2026, we completed the acquisition (the “AccessOne Acquisition”) of AccessOne Parent Holdings, Inc. (together with its…View ↗
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