Company: PHR
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001412408-25-000039
Chunk: 93

Company: Phreesia, Inc.
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 1
Chunk 93
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Level 2)Significant Unobservable Inputs (Level 3)Balance as of April 30, 2025Money market mutual funds$78,531 $— $— $78,531 Foreign currency forward contracts— 614 — 614 Total assets$78,531 $614 $— $79,145 The following table presents information about the Company's assets and liabilities that are measured at fair value as of January 31, 2025 and indicates the classification of each item within the fair value hierarchy: Quoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)Balance as of January 31, 2025Money market mutual funds$66,588 $— $— $66,588 Total assets$66,588 $— $— $66,588 The carrying value of the Company’s short-term financial instruments, including accounts receivable and accounts payable approximate fair value due to the short-term nature of these instruments. As of April 30, 2025, the carrying value of the Company's debt approximated fair value because the interest rates approximated market rates and the related maturities are relatively short-term.The Company did not have any transfers of assets and liabilities between levels of the fair value measurement hierarchy during both the three months ended April 30, 2025 and 2024.

10. Leases

(a) Phreesia as LesseeThe Company leases third-party data center space and office space in the U.S. under operating leases that expire on various dates through July 2027. Certain of these arrangements have escalating rent payment provisions or optional renewal clauses. The Company has also entered into various finance lease arrangements for computer equipment. These agreements are typically three years and are secured by the underlying equipment.

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For office leases and leased equipment, the Company has elected the practical expedient to not separate lease and non-lease components, and as such, the variable lease cost primarily represents variable payments such as common area maintenance, utilities and equipment maintenance.As of April 30, 2025, for operating leases, the weighted-average remaining lease term was 1.5 years and the weighted-average discount rate is 6.7%. As of April 30, 2025, for finance leases, the weighted-average remaining lease term was 1.9 years, and