Company: PHR
Filing Date: 2025-09-05
Form Type: 10-Q
Source: 0001412408-25-000062
Chunk: 85

Company: Phreesia, Inc.
Filing Date: 2025-09-05
Form: 10-Q
Item: Part I, Item 1
Chunk 85
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 the Company commenced operations, it has not generated sufficient revenue to meet its operating expenses and may continue to incur net losses. To date, the Company has primarily relied upon the proceeds from issuances of common stock, debt and preferred stock to fund its operations as well as sales of Company products and services in the normal course of business.Management believes that the Company’s cash and cash equivalents at July 31, 2025, along with cash generated in the normal course of business and available borrowing capacity under its revolving credit facility with Capital One, N.A. (“Capital One”) (the “Capital One Credit Facility”), are sufficient to fund its operations for at least the next 12 months.The Company may seek to obtain additional financing, if needed, to successfully implement its long-term strategy.

2. Basis of presentation

(a) Consolidated financial statementsThe accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States ("GAAP") and regulations of the Securities and Exchange Commission ("SEC") regarding quarterly financial reporting and include the accounts of Phreesia, Inc., its branch operation in Canada and its consolidated subsidiaries (or collectively, the "Company").(b) Fiscal yearThe Company’s fiscal year ends on January 31. References to fiscal 2026 and 2025 refer to the fiscal years ending on January 31, 2026 and January 31, 2025, respectively. (c) Unaudited interim financial statements

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The accompanying unaudited interim consolidated financial statements have been prepared in accordance with GAAP and applicable rules and regulations of the SEC regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the accompanying unaudited interim consolidated financial statements reflect all adjustments, which include normal recurring adjustments, necessary for the fair statement of the Company’s interim financial position as of July 31, 2025 and the results of its operations, changes in its stockholders' equity and its cash flows for the periods ended July 31, 2025 and 2024. The results for the interim periods are not necessarily indicative of results to be expected for the full year, any other interim periods, or any future year or period. The Company’s management believes that the disclosures herein are adequate to make the information presented not misleading when read in conjunction with the audited financial statements and accompanying notes for the fiscal year ended January