Company: PHR
Filing Date: 2025-12-09
Form Type: 10-Q
Source: 0001412408-25-000132
Chunk: 279

Company: Phreesia, Inc.
Filing Date: 2025-12-09
Form: 10-Q
Item: Part I, Item 2
Chunk 279
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 sales efforts within the United States.

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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 for total cash consideration of $160 million, subject to customary closing and post-closing adjustments (such transactions contemplated by the agreement, the “AccessOne Acquisition”). Subsequent to quarter-end, on November 12, 2025 (the "Closing Date"), we completed the transactions contemplated by the Merger Agreement, pursuant to which, upon the terms and subject to the conditions set forth therein, Ace Merger Sub, Inc. merged with and into AccessOne, with AccessOne continuing as the surviving corporation and becoming a wholly owned subsidiary of the Company (such transactions contemplated by the Merger Agreement, the “AccessOne Acquisition”). The purchase price was funded with a combination of cash and the net proceeds from a new, 364-day $110 million secured term loan (the “Bridge Loan”) entered into on the Closing Date. 

Although this Quarterly Report on Form 10-Q was filed after the completion of the AccessOne Acquisition, information set forth herein only relates to the results of operations for Phreesia, Inc. for the quarter and year-to-date periods ended October 31, 2025 and 2024 and does not include any financial information of AccessOne for such periods.

Bridge Loan

On the Closing Date, in connection with the closing of the AccessOne Acquisition, the Company entered into a bridge loan credit agreement (the “Bridge Credit Agreement”) by and among the Company, the lenders from time to time party thereto, and Goldman Sachs Bank USA, as administrative agent, collateral agent, sole lead arranger and bookrunner, with respect to the Bridge Loan. The Bridge Loan has an outstanding principal amount of $110 million and bears interest at a fluctuating rate per annum equal to, at the Company’s option, the forward-looking Secured Overnight Financing Rate (such borrowings, “SOFR Loans”) plus an applicable margin. 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