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Phreesia raises FY23 revenue to ‘at least $278M’, consensus $274.3M
The Fly

Phreesia raises FY23 revenue to ‘at least $278M’, consensus $274.3M

Prior guidance was $273M-$275M. The company states: "Our new revenue outlook implies year-over-year growth of 30%. We expect average healthcare services clients to increase by approximately 150 in the fourth quarter of fiscal year 2023 ending on January 31, 2023. We expect fourth quarter subscription and related services revenue on a per average healthcare services client basis to remain roughly in line with our second and third quarter results. We are raising our Adjusted EBITDA outlook for fiscal year 2023 to approximately negative $95 million from a range of negative $109 million to negative $106 million, based on our first nine months’ performance. This update reflects continued improvements in overall productivity and efficiency across our organization. We expect our cash outflows in the fourth quarter of fiscal year 2023 to result in a January 31, 2023 cash and cash equivalents balance of approximately $170 million. We continue to expect our Adjusted EBITDA outlook in fiscal year 2023 to be the low annual mark for fiscal years 2023 to 2025."

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