Phreesia Inc. (PHR) Tops Q3 EPS by 1c, Revenues Beat; Offers FY20 Revenue Guidance Above Consensus

Phreesia Inc. (NYSE: PHR) reported Q3 EPS of ($0.07), $0.01 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $32.8 million versus the consensus estimate of $29.48 million.

“We are pleased with our third quarter results and the continued support of our clients and partners,” said Chaim Indig, Chief Executive Officer of Phreesia, Inc. “Our team is focused on building a great company that creates a better, more engaging healthcare experience.”

Fiscal Third Quarter 2020 Highlights

• Revenue was $32.8 million in the quarter compared to $24.8 million in the same period in the prior year, an increase of 33%.
• Average provider revenue per provider client was $16,637 in the quarter compared to $13,308 in the same period in the prior year, an increase of 25%.
• Average number of provider clients was 1,573 in the quarter compared to 1,503 in the same period in the prior year, an increase of 5%.
• Adjusted EBITDA was $3.0 million in the quarter compared to $0.4 million in the same period in the prior year.
• Cash on the balance sheet as of October 31st was $91.4 million, down $8.7 million from July 31, 2019.

GUIDANCE:

Phreesia Inc. sees FY2020 revenue of $122-122.5 million, versus the consensus of $118.9 million.

• We expect fiscal 2020 revenue to be in the range of $122.0 to $122.5 million compared to our previous range of $118.5 to $119.0 million.
• We expect to be Adjusted EBITDA positive in fiscal 2020.

For earnings history and earnings-related data on Phreesia Inc. (PHR) click here.

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