Abstract

Phreesia, Inc. will report quarterly results on December 08, 2025 Post Market; this preview summarizes consensus expectations, last quarter’s performance, the current quarter outlook with segment insights, and prevailing analyst opinions.

Market Forecast

The market’s current baseline expects Phreesia, Inc. to deliver this quarter revenue of USD 120.05 million, EBIT of USD 0.80 million, and EPS of USD 0.00, implying an estimated year-over-year revenue growth of 12.90% and EBIT growth of 104.94%, with EPS roughly flat year over year. The company’s gross profit margin and net margin are expected to track around last quarter’s levels given stable mix and cost trends, though precise figures have not been formally guided. Management continues to emphasize scaled patient engagement and monetization of audience reach across healthcare stakeholders; the main business outlook points to continued double‑digit revenue gains supported by network expansion and improved monetization. The most promising segment appears to be Subscription and Related Services, with last quarter revenue of USD 53.70 million and a solid year‑over‑year expansion signaled by ongoing client uptake and upsell momentum.

Last Quarter Review

Phreesia, Inc. last quarter delivered revenue of USD 117.26 million, a gross profit margin of 67.90%, GAAP net income attributable to common shareholders of USD 0.65 million, a net profit margin of 0.56%, and adjusted EPS of USD 0.01, with year‑over‑year revenue growth of 14.83% and an EPS swing to profit. A key highlight was the sharper‑than‑anticipated improvement in operating leverage, as actual EBIT of USD -1.51 million came in better than the prior implied estimate and EPS surprised to the upside by USD 0.07. Main business highlights: Subscription and Related Services generated USD 53.70 million, Network Solutions USD 35.16 million, and Payment Processing Fees USD 28.39 million, indicating healthy mix breadth and durable contribution from both audience solutions and payments.

Current Quarter Outlook (with major analytical insights)

Main business momentum and revenue quality

Phreesia, Inc.’s core platform economics continue to benefit from scaled deployments across provider networks, biopharma, and payer clients, supporting sustained double‑digit revenue growth. The forecast revenue of USD 120.05 million suggests sequential growth and healthy year‑over‑year expansion of 12.90%, while EBIT is expected to improve to USD 0.80 million, underscoring further operating efficiency. Given last quarter’s gross margin of 67.90%, the current mix implies that margin resilience hinges on balancing subscription growth with payments and network monetization. As subscription contracts renew and expand, visibility into recurring revenue remains supportive, though seasonality and campaign timing can influence quarterly pacing. The company’s improving bottom‑line profile, including a swing to slightly positive net income last quarter, indicates cost discipline that could carry into this period.

Most promising business and incremental growth drivers

Subscription and Related Services stands out as the most promising driver due to its recurring nature and alignment with client digitization needs, producing USD 53.70 million last quarter and benefiting from upsells and cross‑sell into larger installed bases. The year‑over‑year growth trend embedded in the full‑company forecast, coupled with the segment’s role as a foundation for gross margin stability, sets expectations for continued robust contribution. Network Solutions adds leverage as audience reach expands, while Payment Processing Fees provide transactional upside tied to visit volumes and product penetration. As platform breadth grows, incremental modules and analytics likely deepen wallet share, reinforcing revenue durability and margin support.

Stock‑price sensitivities this quarter

Investors are likely to focus on whether EBIT turns sustainably positive and on the cadence of adjusted EPS relative to breakeven, given the forecast EPS of USD 0.00. Any deviation in gross margin from last quarter’s 67.90% could influence sentiment, especially if mix shifts toward lower‑margin payments or campaign phasing impacts Network Solutions yield. Guidance quality around revenue growth cadence into the next fiscal period, along with commentary on client retention and new enterprise wins, will shape near‑term equity reactions. The market will also parse updates on cost trajectories, including R&D and go‑to‑market investments, to gauge the durability of the operating leverage seen in the last print.

Analyst Opinions

Across recent commentary, the majority view skews bullish, highlighting continued top‑line momentum, stable to improving unit economics, and a pathway to consistent profitability as operating leverage improves. Several well‑followed analysts emphasize that revenue growth near the low‑to‑mid‑teens with a gross margin profile around the high‑sixties can support incremental EBIT expansion, with the prior quarter’s upside EPS surprise reinforcing that thesis. The bullish camp also points to expanding client relationships within healthcare stakeholders as a sign of durable demand for patient engagement and audience solutions, while acknowledging that quarterly variability in campaign timing can lead to near‑term noise. On balance, the consensus expects Phreesia, Inc. to show improving profitability metrics this quarter and maintain double‑digit revenue growth, with valuation sensitivity tied to the credibility of forward‑looking commentary on growth and margin progression.