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Phreesia (PHR) investor relations material
Phreesia Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved first-ever positive net income of $0.7 million in Q2 FY2026, reversing a prior year net loss of $18.0 million, with total revenue up 15% year-over-year to $117.3 million.
Announced a definitive agreement to acquire AccessOne for $160 million, expanding payment solutions capabilities and the addressable market by $6 billion.
Adjusted EBITDA rose to $22.1 million, up from $6.5 million a year ago, with margin improvement.
Free cash flow improved to $9.6 million for the quarter, with cash and cash equivalents at $98.3 million as of July 31, 2025.
Introduced new leadership roles and continued investment in product innovation, including Voice AI.
Financial highlights
Q2 FY2026 total revenue: $117.3 million, up from $102.1 million in Q2 FY2025.
Adjusted EBITDA for Q2 FY2026: $22.1 million, compared to $6.5 million in Q2 FY2025, with a 19% margin.
Net income per diluted share: $0.01 in Q2 FY2026, compared to $(0.31) in Q2 FY2025.
Free cash flow for Q2 FY2026: $9.6 million, continuing positive trend since Q2 FY2025.
Cash and cash equivalents stood at $98.3 million at quarter end.
Outlook and guidance
Fiscal 2026 revenue outlook maintained at $472–$482 million, excluding AccessOne contribution.
Adjusted EBITDA guidance raised to $87–$92 million for fiscal 2026.
Average healthcare services clients (AHSCs) expected to reach approximately 4,500 in fiscal 2026, with revenue per AHSC projected to increase.
AccessOne expected to add $35 million in annualized revenue and $11 million in annualized adjusted EBITDA post-close.
Sufficient liquidity and borrowing capacity to support growth and acquisition plans.
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