What is Phreesia's earnings per share (EPS)?

Phreesia (PHR) reported diluted earnings per share of $0.04 for fiscal year 2026. This represents a 103.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Phreesia Financials

PHR

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE March

This page shows Phreesia (PHR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 43/100

Based on FY2026 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Phreesia has an operating margin of -1.4%, meaning the company retains $-1 of operating profit per $100 of revenue. This below-average margin results in a low score of 19/100, suggesting thin profitability after operating expenses. This is up from -13.8% the prior year.

Growth

Phreesia's revenue grew 11.4% year-over-year to $467.8M, a solid pace of expansion. This earns a growth score of 52/100.

Leverage

Phreesia carries a low D/E ratio of 0.82, meaning only $0.82 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 85/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Phreesia's current ratio of 1.53 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 26/100, which could limit financial flexibility.

Cash Flow

Phreesia has a free cash flow margin of 14.5%, earning a moderate score of 61/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Phreesia generates a 0.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 13/100. This is up from -20.7% the prior year.

Piotroski F-Score Neutral

5/9

Phreesia passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

34.18x

For every $1 of reported earnings, Phreesia generates $34.18 in operating cash flow ($78.8M OCF vs $2.3M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk

-9.0x

Phreesia earns $-9.0 in operating income for every $1 of interest expense (-$6.6M vs $732K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$467.8M

YoY+11.4%

5Y CAGR+25.8%

Phreesia generated $467.8M in revenue in fiscal year 2026. This represents an increase of 11.4% from the prior year.

EBITDA

$24.8M

YoY+182.2%

Phreesia's EBITDA was $24.8M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 182.2% from the prior year.

Net Income

$2.3M

YoY+103.9%

Phreesia reported $2.3M in net income in fiscal year 2026. This represents an increase of 103.9% from the prior year.

EPS (Diluted)

$0.04

YoY+103.9%

Phreesia earned $0.04 per diluted share (EPS) in fiscal year 2026. This represents an increase of 103.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$67.7M

YoY+186.0%

Phreesia generated $67.7M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 186.0% from the prior year.

Cash & Debt

$73.8M

YoY-18.8%

5Y CAGR-30.4%

Phreesia held $73.8M in cash against $275.0M in long-term debt as of fiscal year 2026.

Dividends Per Share

N/A

Shares Outstanding

61M

YoY+3.4%

5Y CAGR+6.2%

Phreesia had 61M shares outstanding in fiscal year 2026. This represents an increase of 3.4% from the prior year.

Margins & Returns

Gross Margin

84.8%

YoY+0.5pp

5Y CAGR+0.5pp

Phreesia's gross margin was 84.8% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 0.5 percentage points from the prior year.

Operating Margin

-1.4%

YoY+12.4pp

5Y CAGR+15.9pp

Phreesia's operating margin was -1.4% in fiscal year 2026, reflecting core business profitability. This is up 12.4 percentage points from the prior year.

Net Margin

0.5%

YoY+14.4pp

5Y CAGR+18.9pp

Phreesia's net profit margin was 0.5% in fiscal year 2026, showing the share of revenue converted to profit. This is up 14.4 percentage points from the prior year.

Return on Equity

0.7%

YoY+21.4pp

5Y CAGR+6.1pp

Phreesia's ROE was 0.7% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is up 21.4 percentage points from the prior year.

Capital Allocation

R&D Spending

$121.5M

YoY+3.5%

5Y CAGR+40.0%

Phreesia invested $121.5M in research and development in fiscal year 2026. This represents an increase of 3.5% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$11.1M

YoY+27.5%

5Y CAGR-0.3%

Phreesia invested $11.1M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 27.5% from the prior year.

PHR Income Statement

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Revenue	$467.8M+11.4%	$419.8M+17.8%	$356.3M+26.8%	$280.9M+31.7%	$213.2M+43.4%	$148.7M
Cost of Revenue	$71.4M+7.8%	$66.2M+8.5%	$61.0M+3.5%	$58.9M+38.1%	$42.7M+81.9%	$23.5M
Gross Profit	$396.5M+12.1%	$353.6M+19.7%	$295.3M+33.0%	$222.0M+30.1%	$170.6M+36.2%	$125.2M
R&D Expenses	$121.5M+3.5%	$117.4M+4.5%	$112.3M+23.1%	$91.2M+74.6%	$52.3M+131.0%	$22.6M
SG&A Expenses	$79.9M+4.3%	$76.6M-4.2%	$79.9M-0.6%	$80.4M+17.1%	$68.7M+69.7%	$40.5M
Operating Income	-$6.6M+88.6%	-$58.1M+57.4%	-$136.5M+22.7%	-$176.6M-51.1%	-$116.8M-355.1%	-$25.7M
Interest Expense	$732K-68.8%	$2.3M+26.6%	$1.9M+31.4%	$1.4M+21.3%	$1.2M-31.4%	$1.7M
Income Tax	-$11.2M-514.1%	$2.7M+76.0%	$1.5M+219.5%	$483K+165.4%	$182K+271.4%	$49K
Net Income	$2.3M+103.9%	-$58.5M+57.2%	-$136.9M+22.3%	-$176.1M-49.1%	-$118.2M-333.0%	-$27.3M
EPS (Diluted)	$0.04+103.9%	$-1.02+59.4%	$-2.51+25.3%	$-3.36-41.8%	$-2.37-243.5%	$-0.69

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Revenue	$120.3M+2.6%	$117.3M+1.1%	$115.9M+5.7%	$109.7M+2.7%	$106.8M+4.6%	$102.1M+0.9%	$101.2M+6.5%	$95.0M
Cost of Revenue	$18.3M+5.4%	$17.4M+4.6%	$16.6M+0.8%	$16.5M-7.5%	$17.9M+10.6%	$16.1M+2.7%	$15.7M-2.6%	$16.1M
Gross Profit	$102.0M+2.1%	$99.9M+0.6%	$99.3M+6.6%	$93.2M+4.8%	$88.9M+3.5%	$86.0M+0.6%	$85.5M+8.4%	$78.9M
R&D Expenses	$29.5M+0.6%	$29.3M-8.0%	$31.8M+7.4%	$29.6M+1.1%	$29.3M-0.8%	$29.5M+2.3%	$28.9M-3.3%	$29.9M
SG&A Expenses	$17.5M-8.2%	$19.0M+16.1%	$16.4M-10.9%	$18.4M-6.2%	$19.6M+0.7%	$19.5M+2.3%	$19.1M+1.2%	$18.8M
Operating Income	$3.7M+348.1%	-$1.5M+54.2%	-$3.3M+56.8%	-$7.6M+45.0%	-$13.8M+19.6%	-$17.2M+11.3%	-$19.4M+34.3%	-$29.6M
Interest Expense	$320K-18.2%	$391K-10.1%	$435K-25.8%	$586K-2.3%	$600K-1.3%	$608K+9.9%	$553K-11.4%	$624K
Income Tax	$854K+170.2%	-$1.2M-265.6%	$735K-27.5%	$1.0M+129.4%	$442K-41.1%	$750K+47.1%	$510K+135.0%	$217K
Net Income	$4.3M+553.1%	$654K+116.7%	-$3.9M+38.7%	-$6.4M+55.6%	-$14.4M+20.0%	-$18.0M+8.7%	-$19.7M+35.6%	-$30.6M
EPS (Diluted)	$0.07+600.0%	$0.01+114.3%	$-0.07	N/A	$-0.25+19.4%	$-0.31+11.4%	$-0.35	N/A

PHR Balance Sheet

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Total Assets	$663.8M+65.8%	$400.4M+7.6%	$372.1M+5.2%	$353.9M-22.9%	$459.1M-18.2%	$561.2M
Current Assets	$279.8M+29.9%	$215.4M+12.8%	$190.9M-20.5%	$240.1M-31.2%	$349.2M-31.2%	$507.2M
Cash & Equivalents	$73.8M-18.8%	$90.9M+14.3%	$79.5M-46.9%	$149.8M-44.4%	$269.2M-40.3%	$450.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$97.5M+29.8%	$75.1M+13.3%	$66.3M+25.2%	$52.9M+14.2%	$46.4M+54.7%	$30.0M
Goodwill	$170.1M+124.2%	$75.8M0.0%	$75.8M+124.8%	$33.7M+0.3%	$33.6M+309.5%	$8.2M
Total Liabilities	$326.6M+176.3%	$118.2M-1.0%	$119.3M+32.3%	$90.2M+15.9%	$77.9M+34.4%	$57.9M
Current Liabilities	$183.2M+65.5%	$110.7M+2.3%	$108.3M+30.5%	$83.0M+17.2%	$70.8M+39.6%	$50.7M
Long-Term Debt	$275.0M+16781.5%	$1.6M-43.4%	$2.9M+831.1%	$309K-43.2%	$544K-30.3%	$781K
Total Equity	$337.2M+19.5%	$282.2M+11.6%	$252.7M-4.1%	$263.6M-30.9%	$381.2M-24.3%	$503.3M
Retained Earnings	-$799.2M+0.8%	-$805.4M-5.6%	-$762.7M-18.5%	-$643.6M-33.8%	-$481.2M-49.1%	-$322.8M

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Total Assets	$423.5M+3.6%	$408.6M+2.1%	$400.4M+3.1%	$388.4M+3.4%	$375.7M+3.7%	$362.2M-2.6%	$372.1M+0.5%	$370.3M
Current Assets	$240.9M+8.2%	$222.6M+3.4%	$215.4M+6.0%	$203.3M+7.2%	$189.6M+4.8%	$180.9M-5.2%	$190.9M-2.4%	$195.7M
Cash & Equivalents	$106.4M+8.2%	$98.3M+8.1%	$90.9M+7.9%	$84.2M+3.0%	$81.7M-0.1%	$81.8M+2.9%	$79.5M-9.1%	$87.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$88.3M+14.9%	$76.8M+2.3%	$75.1M+2.0%	$73.6M+3.1%	$71.4M+16.5%	$61.3M-7.5%	$66.3M+2.1%	$64.9M
Goodwill	$75.8M0.0%	$75.8M0.0%	$75.8M0.0%	$75.8M0.0%	$75.8M0.0%	$75.8M0.0%	$75.8M0.0%	$75.8M
Total Liabilities	$103.1M-6.8%	$110.6M-6.4%	$118.2M-4.4%	$123.6M+2.1%	$121.1M+9.2%	$110.9M-7.1%	$119.3M+0.4%	$118.9M
Current Liabilities	$98.8M-6.0%	$105.1M-5.0%	$110.7M-2.9%	$114.0M+4.4%	$109.2M+7.1%	$102.0M-5.8%	$108.3M-1.7%	$110.1M
Long-Term Debt	$964K-25.9%	$1.3M-20.1%	$1.6M-15.9%	$1.9M-16.4%	$2.3M-10.9%	$2.6M-9.6%	$2.9M-8.6%	$3.1M
Total Equity	$320.3M+7.5%	$298.0M+5.6%	$282.2M+6.6%	$264.8M+4.0%	$254.6M+1.3%	$251.3M-0.6%	$252.7M+0.5%	$251.4M
Retained Earnings	-$800.5M+0.5%	-$804.8M+0.1%	-$805.4M-0.5%	-$801.5M-0.8%	-$795.1M-1.8%	-$780.7M-2.4%	-$762.7M-2.7%	-$743.0M

PHR Cash Flow Statement

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Operating Cash Flow	$78.8M+143.4%	$32.4M+200.0%	-$32.4M+64.1%	-$90.1M-20.6%	-$74.7M-2685.1%	$2.9M
Capital Expenditures	$11.1M+27.5%	$8.7M+50.0%	$5.8M+22.7%	$4.7M-74.3%	$18.4M+63.9%	$11.2M
Free Cash Flow	$67.7M+186.0%	$23.7M+162.0%	-$38.2M+59.7%	-$94.9M-1.9%	-$93.1M-1015.2%	-$8.4M
Investing Cash Flow	-$161.9M-572.0%	-$24.1M+39.3%	-$39.7M-51.4%	-$26.2M+59.8%	-$65.2M-160.0%	-$25.1M
Financing Cash Flow	$72.9M+734.3%	-$11.5M+32.9%	-$17.1M+17.7%	-$20.8M-108.9%	$235.0M+56.0%	$150.7M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Operating Cash Flow	$15.5M+4.3%	$14.8M-0.1%	$14.8M-8.6%	$16.3M+181.0%	$5.8M-47.7%	$11.1M+1634.1%	-$721K+76.6%	-$3.1M
Capital Expenditures	$3.3M+85.1%	$1.8M-49.6%	$3.5M+25.6%	$2.8M+352.9%	$616K-86.1%	$4.4M+405.4%	$876K-64.4%	$2.5M
Free Cash Flow	$12.2M-6.7%	$13.1M+15.2%	$11.3M-15.7%	$13.5M+160.5%	$5.2M-22.1%	$6.6M+515.4%	-$1.6M+71.2%	-$5.5M
Investing Cash Flow	-$6.7M-28.1%	-$5.2M+29.6%	-$7.4M-4.7%	-$7.1M-68.8%	-$4.2M+43.5%	-$7.4M-35.9%	-$5.4M+33.2%	-$8.2M
Financing Cash Flow	-$667K+69.0%	-$2.1M-156.4%	-$838K+87.4%	-$6.6M-301.5%	-$1.7M-19.6%	-$1.4M+24.3%	-$1.8M+60.4%	-$4.6M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

PHR Financial Ratios

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Gross Margin	84.8%+0.5pp	84.2%+1.3pp	82.9%+3.8pp	79.0%-1.0pp	80.0%-4.2pp	84.2%
Operating Margin	-1.4%+12.4pp	-13.8%+24.5pp	-38.3%+24.5pp	-62.8%-8.1pp	-54.8%-37.5pp	-17.3%
Net Margin	0.5%+14.4pp	-13.9%+24.5pp	-38.4%+24.3pp	-62.7%-7.3pp	-55.4%-37.1pp	-18.4%
Return on Equity	0.7%+21.4pp	-20.7%+33.4pp	-54.2%+12.7pp	-66.8%-35.8pp	-31.0%-25.6pp	-5.4%
Return on Assets	0.4%+15.0pp	-14.6%+22.2pp	-36.8%+13.0pp	-49.8%-24.0pp	-25.7%-20.9pp	-4.9%
Current Ratio	1.53-0.4	1.95+0.2	1.76-1.1	2.89-2.0	4.93-5.1	10.01
Debt-to-Equity	0.82+0.8	0.010.0	0.01+0.0	0.000.0	0.000.0	0.00
FCF Margin	14.5%+8.8pp	5.6%+16.4pp	-10.7%+23.0pp	-33.8%+9.9pp	-43.7%-38.1pp	-5.6%

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Gross Margin	84.8%-0.4pp	85.2%-0.5pp	85.7%+0.7pp	85.0%+1.7pp	83.3%-0.9pp	84.2%-0.3pp	84.5%+1.5pp	83.0%
Operating Margin	3.1%+4.4pp	-1.3%+1.6pp	-2.8%+4.1pp	-6.9%+6.0pp	-13.0%+3.9pp	-16.9%+2.3pp	-19.2%+11.9pp	-31.1%
Net Margin	3.5%+3.0pp	0.6%+3.9pp	-3.4%+2.5pp	-5.8%+7.7pp	-13.5%+4.2pp	-17.6%+1.8pp	-19.5%+12.8pp	-32.3%
Return on Equity	1.3%+1.1pp	0.2%+1.6pp	-1.4%+1.0pp	-2.4%+3.3pp	-5.7%+1.5pp	-7.2%+0.6pp	-7.8%+4.4pp	-12.2%
Return on Assets	1.0%+0.8pp	0.2%+1.1pp	-1.0%+0.7pp	-1.7%+2.2pp	-3.8%+1.1pp	-5.0%+0.3pp	-5.3%+3.0pp	-8.3%
Current Ratio	2.44+0.3	2.12+0.2	1.95+0.2	1.78+0.0	1.74-0.0	1.77+0.0	1.76-0.0	1.78
Debt-to-Equity	0.000.0	0.000.0	0.010.0	0.010.0	0.010.0	0.010.0	0.010.0	0.01
FCF Margin	10.1%-1.0pp	11.1%+1.3pp	9.8%-2.5pp	12.3%+7.4pp	4.8%-1.7pp	6.5%+8.1pp	-1.6%+4.3pp	-5.8%

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Frequently Asked Questions

What is Phreesia's annual revenue?

Phreesia (PHR) reported $467.8M in total revenue for fiscal year 2026. This represents a 11.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Phreesia's revenue growing?

Phreesia (PHR) revenue grew by 11.4% year-over-year, from $419.8M to $467.8M in fiscal year 2026.

Is Phreesia profitable?

Yes, Phreesia (PHR) reported a net income of $2.3M in fiscal year 2026, with a net profit margin of 0.5%.

What is Phreesia's EBITDA?

Phreesia (PHR) had EBITDA of $24.8M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Phreesia have?

As of fiscal year 2026, Phreesia (PHR) had $73.8M in cash and equivalents against $275.0M in long-term debt.

What is Phreesia's gross margin?

Phreesia (PHR) had a gross margin of 84.8% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

What is Phreesia's operating margin?

Phreesia (PHR) had an operating margin of -1.4% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

What is Phreesia's net profit margin?

Phreesia (PHR) had a net profit margin of 0.5% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

What is Phreesia's return on equity (ROE)?

Phreesia (PHR) has a return on equity of 0.7% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

What is Phreesia's free cash flow?

Phreesia (PHR) generated $67.7M in free cash flow during fiscal year 2026. This represents a 186.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Phreesia's operating cash flow?

Phreesia (PHR) generated $78.8M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

What are Phreesia's total assets?

Phreesia (PHR) had $663.8M in total assets as of fiscal year 2026, including both current and long-term assets.

What are Phreesia's capital expenditures?

Phreesia (PHR) invested $11.1M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

How much does Phreesia spend on research and development?

Phreesia (PHR) invested $121.5M in research and development during fiscal year 2026.

How many shares does Phreesia have outstanding?

Phreesia (PHR) had 61M shares outstanding as of fiscal year 2026.

What is Phreesia's current ratio?

Phreesia (PHR) had a current ratio of 1.53 as of fiscal year 2026, which is generally considered healthy.

What is Phreesia's debt-to-equity ratio?

Phreesia (PHR) had a debt-to-equity ratio of 0.82 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Phreesia's return on assets (ROA)?

Phreesia (PHR) had a return on assets of 0.4% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

What is Phreesia's Piotroski F-Score?

Phreesia (PHR) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Phreesia's earnings high quality?

Phreesia (PHR) has an earnings quality ratio of 34.18x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Phreesia cover its interest payments?

Phreesia (PHR) has an interest coverage ratio of -9.0x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Phreesia?

Phreesia (PHR) scores 43 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.