Company: PHR
Filing Date: 2025-12-09
Form Type: 10-Q
Source: 0001412408-25-000132
Chunk: 431

Company: Phreesia, Inc.
Filing Date: 2025-12-09
Form: 10-Q
Item: Part I, Item 3
Chunk 431
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 if a depository institution is subject to other adverse conditions in the financial or credit markets, this could further impact access to our invested cash or cash equivalents and could adversely impact our operating liquidity and financial performance.

In order to support the growth of our business, we may need to incur additional indebtedness under our current credit facilities or seek capital through new equity or debt financings, which sources of additional capital may not be available to us on acceptable terms or at all. 

Our operations have consumed substantial amounts of cash since inception and we intend to continue to make significant investments to support our business growth, respond to business challenges or opportunities, develop new applications and services, enhance our existing solution and services, enhance our operating infrastructure and potentially acquire complementary businesses and technologies. For the nine months ended October 31, 2025, our net cash provided by operating activities was $45.2 million. As of October 31, 2025, we had $106.4 million of cash and cash equivalents, which are held for working capital purposes. As of October 31, 2025 and January 31, 2025, we had no outstanding borrowings under the Capital One Credit Facility, with the ability to borrow up to $50.0 million.

In connection with the closing of the AccessOne Acquisition, on November 12, 2025, we entered into the Bridge Credit Agreement, with respect to a 364-day $110 million secured term loan. The entire amount of the Bridge Loan was funded on the Closing Date and we used the net proceeds thereof to fund a portion of the consideration for the AccessOne Acquisition and to pay related fees and expenses. The Bridge Loan matures on November 11, 2026. 

Our future capital requirements may be significantly different from our current estimates and will depend on many factors, including the need to:

•finance unanticipated working capital requirements;

•develop or enhance our technological infrastructure and our existing products and services;

•fund strategic relationships, including joint ventures and co-investments;

•fund additional implementation engagements;

•respond to competitive pressures; and

•acquire complementary businesses, technologies, products or services.

Accordingly, we may need to engage in equity or debt financings or collaborative arrangements to secure additional funds. Additional financing may not be available on terms favorable to us, or at all. If we raise additional funds through further issuances of equity or convertible debt securities, our existing stockholders could suffer significant 

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dilution, and any new equity securities we issue could have