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  4. [8-K] Phreesia, Inc. Reports Material Event

Job cuts at Phreesia (NYSE: PHR) as restructuring targets 220 roles

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Phreesia, Inc. has launched a restructuring plan aimed at reducing operating expenses and aligning its cost structure with current business priorities. The plan includes eliminating approximately 220 positions, with around half coming from contractor roles.

The company does not expect restructuring costs to be material and anticipates most will occur during fiscal year 2027. Management expects the plan to generate meaningful annualized run-rate expense savings, which were already incorporated into its Adjusted EBITDA outlook for fiscal year 2027 shared on March 30, 2026. These expectations depend on various assumptions, and actual results could differ.

Positive

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Negative

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Insights

Phreesia cuts 220 roles to support a cost-focused restructuring already embedded in its 2027 outlook.

Phreesia is undertaking a restructuring that removes about 220 positions to better match its cost base with current business priorities. Management characterizes associated charges as not material, with most recognized in fiscal year 2027.

The company expects “meaningful” annualized run-rate savings, and notes these were already reflected in its Adjusted EBITDA outlook for fiscal year 2027 issued on March 30, 2026. That suggests the move is more about executing on an existing profitability plan than changing targets.

Actual costs and savings could diverge from expectations, and the restructuring may impact operations. Subsequent company filings can clarify realized savings versus the assumptions underlying the current Adjusted EBITDA outlook.

Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Positions eliminated approximately 220 positions Workforce and contractor reductions under restructuring plan
restructuring plan financial
"implemented a restructuring plan intended to reduce operating expenses"
A restructuring plan is a company’s roadmap for reorganizing its operations, debts, or assets to improve financial health and efficiency; think of it as rewriting a household budget and chores when income changes. Investors care because the plan can affect a company’s ability to repay loans, generate profits, and sustain growth—successful restructuring can restore value, while a poorly executed one can signal continued trouble or reduced returns.
annualized run-rate expense savings financial
"expects the plan to result in meaningful annualized run-rate expense savings"
Adjusted EBITDA financial
"reflected in the Company’s Adjusted EBITDA outlook for fiscal year 2027"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
forward-looking statements regulatory
"contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Understanding 8-K Material Events →
false000141240800014124082026-05-072026-05-07

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________________
FORM 8-K
___________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported)
May 7, 2026
___________________________________
Phreesia, Inc.
(Exact name of registrant as specified in its charter)
___________________________________
Delaware
(State or other jurisdiction of incorporation or organization)
001-38977
(Commission File Number)
20-2275479
(I.R.S. Employer Identification Number)
1521 Concord Pike, Suite 301 PMB 221
Wilmington, Delaware 19803
(Address of principal executive offices and zip code)

(888) 654-7473
(Registrant's telephone number, including area code)
___________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading symbol(s)Name of each exchange on which registered
Common Stock, par value $0.01 per sharePHRThe New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company  ☐   
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 8.01 Other Events.

On May 7, 2026, Phreesia, Inc. (the “Company”) implemented a restructuring plan intended to reduce operating expenses and better align the Company’s cost structure with its current business priorities. The plan includes the recent elimination of approximately 220 positions, approximately half of which are contractor roles. The Company does not expect the costs associated with the plan to be material and expects such costs to be incurred primarily during fiscal year 2027. The Company expects the plan to result in meaningful annualized run-rate expense savings, which were reflected in the Company’s Adjusted EBITDA outlook for fiscal year 2027 provided on March 30, 2026.

The Company’s expectations regarding costs and savings in connection with the plan are subject to assumptions, and actual amounts may differ materially from these expectations. The Company may also incur costs not currently contemplated due to events that could occur in connection with the plan.

Forward-Looking Statements

This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s restructuring plan, expectations regarding the materiality of costs associated with the plan and timing of such costs, expected annualized run-rate expense savings and Adjusted EBITDA outlook. These forward-looking statements are based on the Company’s current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially, including risks related to the Company’s ability to implement the plan as currently anticipated, the timing and amount of costs incurred, the Company’s ability to realize the expected expense savings, the impact of the plan on the Company’s business and operations, and other risks described in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements, except as required by law.




SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: May 11, 2026Phreesia, Inc.
By:/s/ Balaji Gandhi
Name:Balaji Gandhi
Title:Chief Financial Officer



Source: View Original Filing on SEC EDGAR

FAQ

What restructuring did Phreesia (PHR) announce in its latest 8-K?

Phreesia announced a restructuring to reduce operating expenses and align its cost structure with current business priorities. The plan centers on eliminating about 220 positions and is intended to produce meaningful annualized run-rate expense savings over time, subject to execution risks.

How many jobs is Phreesia (PHR) cutting in the restructuring plan?

Phreesia plans to eliminate approximately 220 positions as part of its restructuring. About half of these are contractor roles, indicating a mix of employee and non-employee reductions as the company adjusts its cost base to match current business priorities and financial targets.

When does Phreesia (PHR) expect to incur restructuring costs?

Phreesia expects to incur most restructuring-related costs during fiscal year 2027. The company does not anticipate these costs will be material overall, but notes that actual amounts and timing may differ from current expectations based on how the plan is implemented.

How will Phreesia’s restructuring affect its Adjusted EBITDA outlook?

Phreesia expects the restructuring to drive meaningful annualized run-rate expense savings. Management states these anticipated savings were already included in its Adjusted EBITDA outlook for fiscal year 2027, which was provided on March 30, 2026, rather than representing a new guidance change.

What risks does Phreesia (PHR) highlight around its restructuring plan?

Phreesia notes risks around implementing the restructuring as planned, the timing and amount of related costs, and its ability to realize expected expense savings. It also cites potential impacts on business operations and other risks described in its Securities and Exchange Commission filings.

Filing Exhibits & Attachments

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