Company: PHR
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001412408-25-000039
Chunk: 235

Company: Phreesia, Inc.
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 2
Chunk 235
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Interest income. Interest income consists of interest earned on our cash and cash equivalent balances.

•Interest expense. Interest expense consists primarily of the interest incurred on our financing obligations as well as amortization of discounts and deferred financing costs.

Provision for income taxes

Based upon our cumulative pre-tax losses in recent years and available evidence, we have determined that it is more likely than not that substantially all of our U.S. deferred tax assets as of April 30, 2025 will not be realized in the near term. Consequently, we have established a valuation allowance against our deferred tax assets that are not more likely than not to be realized. In future periods, if we conclude we have future taxable income sufficient to realize the deferred tax assets, we may reduce or eliminate the valuation allowance. Provision for income taxes also includes U.S. state and local income taxes and foreign income taxes. We record unrecognized tax benefits as liabilities or as reductions to deferred tax assets and adjust these balances when our judgement changes as a result of the evaluation of new information previously not available. 

Comparison of results of operations for the three months ended April 30, 2025 and 2024

(unaudited)

Revenue Three months endedApril 30, ($ in thousands)20252024$ Change% ChangeSubscription and related services$54,355 $46,742 $7,613 16 %Payment processing fees29,925 27,060 2,865 11 %Network solutions31,656 27,415 4,241 15 %Total revenue$115,936 $101,217 $14,719 15 %

•Subscription and related services. Our subscription and related services revenue from healthcare services organizations increased $7.6 million to $54.4 million for the three months ended April 30, 2025, as compared to $46.7 million for the three months ended April 30, 2024, primarily due to new healthcare services clients as well as expansion of and cross-selling to existing healthcare services clients.

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•Payment processing fees. Our revenue from patient payments processed through our solutions increased $2.9 million to $29.9 million for the three months ended April 30, 2025, as compared to $27.1 million for the three months ended April 30, 2024, due to the addition of new healthcare services clients, which drove increases in patient visits and patient payments processed through our platform.

•