Company: PHR
Filing Date: 2025-12-09
Form Type: 10-Q
Source: 0001412408-25-000132
Chunk: 90

Company: Phreesia, Inc.
Filing Date: 2025-12-09
Form: 10-Q
Item: Part I, Item 1
Chunk 90
---
 principal amount of $110 million and bears interest at a per annum rate equal to the three month SOFR rate plus a margin of 4.00% per annum. The Bridge Loan matures on November 11, 2026. The interest rate applicable to the Bridge Loan will increase by 0.5% every three months following the closing date of November 12, 2025.Capital One Credit FacilityFirst Amendment to Capital One Credit FacilitySubsequent to quarter-end, on November 12, 2025, the Company entered into the First Amendment to the Capital One Credit Facility (as defined herein). The First Amendment to the Capital One facility amended the covenant limiting acquisitions to permit the acquisition of AccessOne, amended the covenant limiting additional indebtedness to accommodate the Bridge Loan, and amended the security interest supporting the Capital One Credit Facility to permit the security interests granted in connection with the Bridge Loan. The amendment included further changes to sections governing mandatory and voluntary prepayments, negative covenants and events of default to accommodate the existence of the Bridge Loan.Management believes that the Company’s cash and cash equivalents, along with cash generated in its normal operations and the available borrowing capacity under the Capital One Credit Facility will be sufficient to meet the Company’s needs for at least the next 12 months.The Company may seek to obtain additional financing, if needed, to successfully implement its long-term strategy.

16

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 statementsThe 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