Q1 2025 Phreesia Inc Earnings Call Transcript
Key Points
- Phreesia Inc (PHR) returned to profitability in the first quarter of fiscal 2025.
- Q1 revenue increased by 21% to $101.2 million.
- Adjusted EBITDA turned positive for the first time in three years, reaching $4.1 million.
- The company saw an increase of 103 average healthcare services clients from the prior quarter.
- Phreesia Inc (PHR) expects to start generating free cash flow in the second half of the fiscal year.
- First-quarter revenue was negatively impacted by $1.7 million due to the accelerated wind down of a relationship with a clearinghouse client.
- The cyber attack on Change Healthcare and subsequent outages accelerated the wind down of a client relationship, impacting fiscal 2025 results.
- The company reduced its revenue outlook for fiscal 2025 by $8 million due to the wind down of the clearinghouse client relationship.
- Operating cash flow for Q1 was just under breakeven at negative $721,000.
- There are ongoing concerns about cybersecurity investments and potential future attacks impacting operations.
Good evening, ladies and gentlemen, and welcome to the Phreesia fiscal first-quarter 2025 earnings conference call. (Operator Instructions)
First, I would like to introduce Balaji Gandhi, Phreesia's Chief Financial Officer. Mr. Gandhi, you may begin.
Thank you, operator. Good evening, and welcome to Phreesia's earnings conference call for the fiscal first quarter of 2025, which ended on April 30, 2024. Joining me on today's call is Chaim Indig, our Chief Executive Officer.
A more complete discussion of our results can be found in our earnings press release and in our related Form 8-K submission to the SEC, including our quarterly stakeholder letter, both issued after the markets closed today. These documents are available on the Investor Relations section of our website at ir.phreesia.com.
As a reminder, today's call is being recorded. And a replay will be available on our Investor Relations website at ir.phreesia.com, following the conclusion of the call.
During today
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