Company: PHR
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001412408-25-000010
Chunk: 173

Company: Phreesia, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 7
Chunk 173
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26 %Total revenues$419,813 $356,299 $63,514 18 %

•Subscription and related services. Our subscription and related services revenue from healthcare services organizations increased $31.1 million to $196.5 million for fiscal 2025, as compared to $165.4 million for fiscal 2024, primarily due to new healthcare services clients added in fiscal 2025 as well as expansion of and cross-selling to existing healthcare services clients.

•Payment processing fees. Our revenue from patient payments processed through our solutions increased $7.1 million to $101.7 million for fiscal 2025, as compared to $94.6 million for fiscal 2024, due to the addition of new healthcare services clients, which drove increases in patient visits and patient payments processed through our platform. Payment processing fees for the year ended January 31, 2025 were reduced by approximately $6.1 million related to the accelerated wind-down of a relationship with a clearinghouse client.

•Network solutions. Our revenue from life sciences clients and other organizations increased $25.3 million to $121.6 million for fiscal 2025, as compared to $96.3 million for fiscal 2024 due to an increase in engagement, education programs and deeper patient outreach among the existing programs.

59

Cost of revenue (excluding depreciation and amortization)Fiscal years ended January 31,(in thousands)20252024$ Change% ChangeCost of revenue (excluding depreciation and amortization)$66,227 $61,025 $5,202 9 %

Cost of revenue (excluding depreciation and amortization) increased $5.2 million to $66.2 million for fiscal 2025, as compared to $61.0 million for fiscal 2024. The increase resulted primarily from a $7.7 million increase in other third-party costs driven by growth in revenue, partially offset by a $2.5 million decrease in labor costs.

Stock compensation incurred related to cost of revenue was $4.9 million and $4.6 million for fiscal 2025 and fiscal 2024, respectively.

Payment processing expenseFiscal years ended January 31,(in thousands)20252024$ Change% ChangePayment processing expense$68,707 $62,986 $5,721 9 %

Payment processing expense increased $5.7 million to $68.7 million for fiscal 2025,