Company: PHR
Filing Date: 2025-09-05
Form Type: 10-Q
Source: 0001412408-25-000062
Chunk: 150

Company: Phreesia, Inc.
Filing Date: 2025-09-05
Form: 10-Q
Item: Part I, Item 8
Chunk 150
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 letter of credit sub-limit of at least $5,000. The Capital One Credit Facility was entered into with Capital One, acting as administrative agent and replaced the Company’s previous senior secured revolving credit facility with Silicon Valley Bank (“SVB”). The Capital One Credit Facility will give the Company additional financial flexibility, through the facility’s five year term. The facility is available to the Company for working capital and general corporate purposes. The Capital One Credit Facility bears interest at a rate per annum based on the Secured Overnight Financing Rate (“SOFR”) or a Base Rate as specified in the Credit Agreement. As of July 31, 2025, the interest rate on the Capital One Credit Facility was 7.4%. In addition to principal and interest due under the Capital One Credit Facility, the Company is required to pay an annual fee equal to 0.25% of the unused balance of the facility. Additionally, the Company incurred creditor and third party fees of $778 upon entering into the Capital One Credit Facility. The Company recorded the fees to deferred financing costs, included within other assets on its consolidated balance sheets, and will amortize the costs over the term of the Capital One Credit Facility.The obligations under the Capital One Credit Facility are secured by a first priority security interest in substantially all of the tangible and intangible assets at certain of the Company's U.S. subsidiaries, and by pledges of the equity of certain of the Company's U.S. subsidiaries, in each case subject to customary exclusions.The Capital One Credit Facility includes financial covenants including, but not limited to, requiring the Company to maintain minimum Consolidated EBITDA, minimum Liquidity, a minimum Consolidated Fixed Charge Coverage Ratio, a restriction on the amount of dividends and limiting the amount of cash and cash equivalents the Company holds outside Capital One, each as defined in the Credit Agreement. The Company was in compliance with all covenants related to the Credit Agreement as of July 31, 2025.Maturities of finance leases and other debt, in each of the next five years and thereafter, are as follows: TotalFinance LeasesOther Debt2026 (Remaining six months)$3,656 $3,074 $582 Fiscal year ending January 31,20276,002 5,283 719 20282,014 2,014 — 2029— — — 2030— — — Thereafter— — — Total maturities of finance leases and other debt