Company: PHR
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001412408-25-000039
Chunk: 240

Company: Phreesia, Inc.
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 2
Chunk 240
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 indicated: Three months ended April 30,(in thousands, unaudited)20252024Net loss$(3,914)$(19,722)Interest expense (income), net230 (239)Provision for income taxes735 510 Depreciation and amortization6,878 6,673 Stock-based compensation expense17,225 16,840 Other (income) expense, net(338)31 Adjusted EBITDA$20,816 $4,093 

We calculate free cash flow as net cash provided by (used in) operating activities less capitalized internal-use software development costs and purchases of property and equipment.

Additionally, free cash flow is a supplemental measure of our performance that is not required by, or presented in accordance with, GAAP. We consider free cash flow to be a liquidity measure that provides useful information to 

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management and investors about the amount of cash generated by our business that can be used for strategic opportunities, including investing in our business, making strategic investments, partnerships and acquisitions and strengthening our financial position.

The following table presents a reconciliation of free cash flow from net cash provided by (used in) operating activities, the most directly comparable GAAP financial measure, for each of the periods indicated:

 Three months endedApril 30,(in thousands, unaudited)20252024Net cash provided by (used in) operating activities$14,850 $(721)Less:Capitalized internal-use software(3,888)(4,570)Purchases of property and equipment(3,504)(876)Free cash flow$7,458 $(6,167)

Liquidity and capital resources

As of April 30, 2025 and January 31, 2025, we had cash and cash equivalents of $90.9 million and $84.2 million, respectively. Cash and cash equivalents consist of money market mutual funds and cash on deposit.

We believe that our existing cash and cash equivalents, along with cash generated in the normal course of business, will be sufficient to meet our needs for at least the next 12 months.

In addition, we also have potential borrowing capacity under our credit agreement subject to certain restrictive covenants.

Our future capital requirements and the adequacy of available funds will depend on many factors, including those set forth under “Risk Factors.”

In the event that additional financing is required from outside sources, we may be unable to raise the funds on acceptable terms, if at all.