Phreesia
Runs the digital check-in and payment kiosk that replaced the clinic waiting-room clipboard.
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Profile
Builds and sells a subscription software platform that manages patient check-in, scheduling and payments for healthcare providers, while a second business line sells life sciences companies access to patients through the same check-in flow. Operates as an all-remote company with staff spread across the United States rather than a central office.
Founded in 2005, the company replaced the paper clipboard in doctors' waiting rooms with a self-service check-in kiosk, then grew into a software platform covering patient intake, scheduling and payments for healthcare provider organizations.
Providers pay subscription and processing fees for registration, insurance checks and copay collection; life sciences companies pay to reach patients with targeted outreach delivered through the same check-in flow, a channel reported as Network Solutions. Growth since has come through acquisition — scheduling, specialist search, hospital e-forms and, in 2025, healthcare payment financing.
The company operates without a physical office, with staff distributed across the United States and only a mailing address in Delaware on file. A 2024 breach at an acquired after-hours communication service and an active securities class action over Network Solutions growth claims are the two open matters shaping its current legal exposure.
Company facts
Categories
Key statistics
Year to date −25.5% · Average volume (30d) 771.3K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| May 28, 2026 | Piper Sandler | Target | $30 | $12 | ||
| May 28, 2026 | DA Davidson | Reiterate | Buy | $30 | $14 | |
| May 28, 2026 | Truist Financial | Target | $24 | $12 | ||
| May 28, 2026 | Canaccord Genuity | Reiterate | Buy | $33 | $16 | |
| May 20, 2026 | Wells Fargo | Downgrade | Overweight | Equal Weight | $30 | $9 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| May 27, 2026Q1 FY27 | $0.02 | $0.05 | +150.0% | $130.1M | $130.9M | +0.7% | +3.50% |
| Mar 30, 2026Q4 FY26 | $0.07 | $0.12 | +82.6% | $126.8M | $127.1M | +0.2% | −26.56% |
| Dec 8, 2025Q3 FY26 | $0.00 | $0.10 | — | $120.0M | $120.3M | +0.3% | −23.31% |
| Sep 4, 2025Q2 FY26 | −$0.07 | $0.01 | +114.3% | $120.2M | $117.3M | −2.4% | −9.87% |
Financial highlights
| 12 quarters | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|
| Revenue | $109.7M | $115.9M | $117.3M | $120.3M | $127.1M | $130.9M | |
| Gross profit | $76.1M | $77.9M | $79.6M | $82.3M | $86.7M | $77.5M | |
| Operating income | −$7.6M | −$3.3M | −$1.5M | $3.7M | −$5.6M | $7.0M | |
| Net income | −$6.4M | −$3.9M | $654.0K | $4.3M | $1.3M | $3.0M | |
| Diluted EPS | −$0.11 | −$0.07 | $0.01 | $0.07 | $0.02 | $0.05 | |
| Gross margin | 69.4% | 67.2% | 67.9% | 68.4% | 68.2% | 59.2% | |
| Operating margin | -6.9% | -2.8% | -1.3% | 3.1% | -4.4% | 5.3% |
Fiscal years (4-quarter sums)FY22 $213.2M · FY23 $280.9M · FY24 $356.3M · FY25 $419.8M · FY26 $480.6M
Revenue by product · Q1 FY27
Balance sheet, Apr 30, 2026Cash & short-term investments $74.7M · Total debt $92.6M · Total assets $666.1M · Shareholders' equity $359.1M
Dividends
No dividends on record.
Ownership
Institutions and insiders are filed separately and overlap, so together they can pass the whole company. No split is drawn from them.
Shares outstanding 61.81M · Float 49.35M · 79.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Pale Fire Capital SE | 8.92M | 14.44% | 13F | Aug 13, 2026 |
| BlackRock, Inc. | 7.02M | 11.36% | 13F | Aug 7, 2026 |
| AQR Capital Management LLC | 3.15M | 5.10% | 13F | Aug 14, 2026 |
| Vanguard Portfolio Management LLC | 2.99M | 4.83% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 2.55M | 4.12% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 16, 2026 | Yvonne Hui | officer: Principal Accounting Officer | −1,247 | $10.92 |
| Jul 14, 2026 | Lisa Egbuonu-Davis | director | −536 | $10.70 |
| Jul 6, 2026 | Yvonne Hui | officer: Principal Accounting Officer | −1,371 | $10.84 |
| Jun 25, 2026 | Lisa Egbuonu-Davis | director | −2,546 | $9.53 |
| May 18, 2026 | Yvonne Hui | officer: Principal Accounting Officer | −431 | $8.85 |
Peers
- OptimizeRx
Direct contest for point-of-care pharma marketing to patients and HCPs
- Waystar
Head-to-head on patient payments and revenue-cycle across health systems
- Weave Communications
Contests front-office intake, comms and payments for SMB practices
- Doximity
HCP-side pharma marketing draws the same life-sciences budgets
- EverCommerce
EverHealth's DrChrono and Updox contest EHR-adjacent intake and comms
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Phreesia | $12.15 | 0.00% | $751.0M | 81.6 | 22.2 | 1.5 | +12.9% |
| OptimizeRx | $7.95 | 0.00% | $149.2M | 34.0 | 8.8 | 1.5 | −29.8% |
| Waystar | $26.26 | 0.00% | $5.03B | 37.5 | 15.1 | 4.2 | +18.1% |
| Weave Communications | $7.30 | +0.14% | $580.0M | — | 37.4 | 2.3 | +15.5% |
| Doximity | $26.69 | −0.19% | $5.00B | 31.4 | 19.1 | 7.6 | +7.3% |
| EverCommerce | $9.20 | +0.11% | $1.63B | 50.1 | 12.5 | 2.7 | +2.7% |
| Median | 35.8 | 15.1 | 2.7 | +7.3% |