Company: PHR
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001412408-25-000010
Chunk: 48

Company: Phreesia, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 8
Chunk 48
---
 January 31, 2025 and 2024.The Company’s loss before income taxes was primarily generated in the United States for fiscal 2025, 2024 and 2023.The Company's income tax provision consisted of the following for fiscal 2025, 2024 and 2023:Fiscal years ended January 31,202520242023Current taxFederal$— $— $— State102 76 49 Foreign2,400 1,239 — Deferred taxFederal214 38 109 State— — — Foreign— 190 325 Total provision for income taxes$2,716 $1,543 $483 A reconciliation of the statutory U.S. federal income tax rate to the Company's effective tax rate for fiscal 2025, 2024 and 2023 is as follows:Fiscal years ended January 31,202520242023Federal income tax benefit at statutory rate21 %21 %21 %State and local tax, net of federal benefit4 %3 %5 %Permanent differences1 %— %— %Equity compensation(6)%— %— %Foreign taxes(3)%(1)%— %Other— %— %— %Change in valuation allowance(22)%(24)%(26)%Effective income tax rate(5)%(1)%— %

108

The significant components of the Company's deferred tax assets and liabilities as of January 31, 2025 and 2024 are as follows:January 31,Deferred tax assets:20252024Net operating loss carryforwards$160,998 $160,791 Stock based compensation9,495 9,278 Accruals, reserves, and other expenses15,2483,668Reserve for bad debts704 793 Disallowed interest expense9691,041Depreciation and amortization1,412 1,829 Total deferred tax assets$188,826 $177,400 Less: valuation allowance(188,712)(176,641)Net deferred tax assets$114 $759 Deferred tax liabilities:Depreciation and amortization$— $— Intangible assets(340)(569)Deferred contract acquisition costs(258)(460)Total deferred tax liabilities$(598)$(1,029)Net deferred tax liabilities$(484)$(270)The Company has accumulated a U.S. Federal