CEO Chaim Indig highlighted the company's achievements, stating, "We achieved several critical financial milestones ahead of our internal targets, including achieving positive GAAP net income and crossing $100 million of Adjusted EBITDA and $50 million of free cash flow for fiscal year 2026." Adjusted EBITDA for the year was reported at $101.5 million, compared to $36.8 million in fiscal 2025.
The company also reported an increase in the average number of healthcare services clients, which rose to 4,514 for the fiscal year, a 7% increase from the previous year. Phreesia's revenue per healthcare services client also saw growth, reaching $106,467, up 7% year-over-year.
Despite the positive results, Phreesia lowered its revenue outlook for fiscal 2027, now expecting revenue between $510 million and $520 million, down from a previous estimate of $545 million to $559 million. This adjustment is attributed to shorter visibility into spending commitments by certain pharmaceutical manufacturers and a reduction in expected spending from network solutions clients.
Phreesia's recent acquisition of AccessOne Parent Holdings, Inc. for approximately $164 million is expected to expand its addressable market for healthcare payments. The company completed a refinancing on March 13, 2026, repaying all outstanding debt under the Bridge Loan with proceeds from a new $275 million senior secured revolving credit facility.
Overall, Phreesia's strong financial performance and strategic initiatives position the company for continued growth, despite the cautious outlook for the upcoming fiscal year.
