Phreesia Q1 revenue $63.4M (+31% YoY); FY23 Adj. EBITDA guidance raised to -$126M to -$122M

Phreesia, Inc.

2023-Q1 EPS reported -$0.99 revenue$63,354,000

Revenue $63.4M vs $48.3M YoY; client count 2,526 (+33% YoY); avg. rev. per client $19,193 (-5% YoY).
Adjusted EBITDA -$30.6M vs +$0.1M YoY; cash $269.2M, down $44.6M from Jan 2022.
FY23 revenue outlook maintained $271M-$275M; Adj. EBITDA outlook raised to -$126M to -$122M from -$154M to -$149M.
Company expects FY23 Adj. EBITDA to be low mark for FY23-FY25, targeting profitability in FY2025.
Life sciences revenue $16.3M; patient payment volume $837M (+19% YoY).

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