Company: PHR
Filing Date: 2025-09-05
Form Type: 10-Q
Source: 0001412408-25-000062
Chunk: 117

Company: Phreesia, Inc.
Filing Date: 2025-09-05
Form: 10-Q
Item: Part I, Item 1
Chunk 117
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 outcomes Phreesia campaigns have on patients.

Since our inception, we have focused substantially all of our sales efforts within the United States. Accordingly, substantially all of our revenue from historical periods has come from the United States, and our current strategy is to continue to focus substantially all of our sales efforts within the United States.

Our revenue growth has been primarily organic and reflects our significant addition of new healthcare services clients. New healthcare services clients are defined as clients that go live in the applicable period and existing healthcare services clients are defined as clients that go live in any period before the applicable period. 

Recent developments and current economic conditions

AccessOne Acquisition

On August 29, 2025, we entered into a definitive agreement (the “Merger Agreement”) to acquire AccessOne Parent Holdings, Inc. (together with its subsidiaries, “AccessOne”), for total cash consideration of $160 million, subject to customary closing and post-closing adjustments (the "AccessOne Acquisition"). The transaction is expected to close during the third quarter or early fourth quarter of our 2026 fiscal year, subject to customary closing conditions and regulatory approvals. In connection with, and concurrently with entry into, the Merger Agreement, we entered into a debt commitment letter which provides for a new senior secured bridge loan facility (the “Bridge Loan”), subject to 

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the satisfaction of certain conditions. We intend to finance the acquisition through a combination of cash from our balance sheet and proceeds from the Bridge Loan.

AccessOne is a market leader in providing financing solutions for healthcare receivables, working with some of the largest health systems in the U.S. AccessOne takes minimal credit risk and offers healthcare providers a scalable, compliant and operationally efficient tool that improves collections without undermining patient trust. We believe the addition of AccessOne’s platform is a natural progression that will integrate well with our existing products. 

See Note 17 - Subsequent events in Part I - Item 8 of this Quarterly Report on Form 10-Q for additional information regarding the AccessOne Acquisition.

Macroeconomic environment and geopolitical conditions

Our business is directly and indirectly affected by macroeconomic conditions, geopolitical conditions and the state of global financial markets. Geopolitical uncertainty resulting, in part, from the military conflict between Russia and Ukraine and the conflict in the Middle East, as well as other macro-economic conditions, such as the impact of pandemics, changes in interest rates, inflation in the cost of goods, services and labor, tariff and trade issues, or a recession or an economic