Company: PHR
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001412408-25-000039
Chunk: 115

Company: Phreesia, Inc.
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 1
Chunk 115
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 obtain financing for internal-use software and related software support. As of April 30, 2025, there was $1.6 million in outstanding principal and interest due under the agreement. The financing agreement requires us to pay $0.1 million per month for 36 months beginning August 2023. The effective interest rate on the agreement is 10.5% per annum.

The following table summarizes our sources and uses of cash for each of the periods presented:

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 Three months endedApril 30,(in thousands, unaudited)20252024Net cash provided by (used in) operating activities$14,850 $(721)Net cash used in investing activities(7,392)(5,446)Net cash used in financing activities(838)(1,825)Effect of exchange rate changes on cash and cash equivalents31 (1)Net increase (decrease) in cash and cash equivalents$6,651 $(7,993)

Operating activities

The primary sources of cash from operating activities are cash received from our customers and interest earned on our money market mutual funds. The primary uses of cash for operating activities are for payroll, payments to suppliers, payments for operating leases, as well as cash paid for interest on our finance leases and other borrowings and cash paid for various sales, property and income taxes.

During the three months ended April 30, 2025, net cash provided by operating activities was $14.9 million, as our cash received from customers in connection with our normal operations exceeded our cash paid to employees and suppliers.

During the three months ended April 30, 2024, net cash used in operating activities was $0.7 million, as our cash paid to employees and suppliers exceeded our cash received from customers in connection with our normal operations.

The change in net cash provided by (used in) operating activities was driven primarily by an increase in cash received from customers driven by higher revenues during the three months ended April 30, 2025.

Investing activities

During the three months ended April 30, 2025, net cash used in investing activities was $7.4 million, principally resulting from $3.9 million of capitalized internal-use software costs, as well as $3.5 million of purchases of property and equipment, primarily computer equipment.

During the three months ended April 30, 2024, net cash used in investing activities was $5.4 million, principally resulting from capital expenditures, the majority of which consisted