Company: PHR
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001412408-25-000039
Chunk: 100

Company: Phreesia, Inc.
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 1
Chunk 100
---
 endedApril 30,20252024Depreciation and amortization$6,878 $6,673 Interest (expense) income, net$(230)$239 Provision for income taxes$(735)$(510)Expenditures for long-lived assets$7,055 $6,936 

30

Table of Contents

16. Derivative instruments and hedging activities

Cash Flow HedgesDuring the three months ended April 30, 2025, the Company entered into a foreign currency forward contract to buy Canadian Dollars in exchange for US Dollars in order to hedge the functional currency equivalent cash flows related to the Company’s Canadian Dollar denominated payroll payments. The Company designated 75% of the forward contract as a cash flow hedging instrument. The remaining 25% of the forward contract was not designated as a cash flow hedge and is being used by the Company as an economic hedge of forecasted Canadian Dollar denominated payroll payments not hedged by the designated portion of the forward contract. The Company does not hold any derivatives for trading or speculative purposes.As of April 30, 2025, the notional value of the foreign currency forward contract that the Company held to buy Canadian Dollars in exchange for US Dollars was a total of 25,300 Canadian Dollars, including a notional value of 18,975 Canadian Dollars designated as foreign currency cash flow hedges and a notional value of 6,325 not designated as hedges.The fair values of outstanding derivative foreign currency forward contract was as follows:Consolidated balance sheet locationApril 30, 2025January 31, 2025Foreign currency cash flow hedgesPrepaid expenses and other current assets$461 $— Non-designated hedgesPrepaid expenses and other current assets153 — The effect of derivative instruments on the Company’s consolidated statements of operations were as follows:Consolidated statements of operations locationThree months ended April 30,20252024Foreign currency cash flow hedgesExpenses$20 $— Foreign currency cash flow hedgesProvision for income taxes— — Non-designated hedgesOther income (expense), net249 — Pre-tax gains (losses) associated with cash flow hedges were as follows:Consolidated statements of operations and Statements of comprehensive loss locationsThree months ended April 30, 20252024Gains recognized in accumulated other comprehensive income (included in assessment of effectiveness)Unrealized gain on cash flow hedge$387 $—