Company: PHR
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001412408-25-000039
Chunk: 87

Company: Phreesia, Inc.
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 1
Chunk 87
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Table of Contents

(c) Stock repurchase programIn March 2025, the Company’s Board of Directors authorized a stock repurchase program. Under the program, the Company may repurchase up to 2.5 million shares of its common stock from time to time through open market purchases, privately negotiated transactions, block purchases or other methods that comply with applicable securities laws, including repurchase plans that satisfy the conditions of Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. The stock repurchase program does not obligate the Company to repurchase any dollar amount or number of shares of its common stock, and the program may be modified, suspended or discontinued at any time without prior notice. The 1% U.S. federal excise tax on certain repurchases of stock by publicly traded U.S. corporations enacted as part of the Inflation Reduction Act of 2022 applies to repurchases pursuant to the Company’s stock repurchase program.(d) Accumulated other comprehensive incomeActivity in accumulated other comprehensive income was as follows for the three months ended April 30, 2025 and 2024: Unrealized gain on cash flow hedgesForeign currency translation adjustmentAccumulated other comprehensive incomeBalance, January 31, 2024$— $— $— Other comprehensive income— 1 1 Balance, April 30, 2024$— $1 $1 Balance, January 31, 2025$— $(51)$(51)Other comprehensive income before reclassifications387 28 415 Amounts reclassified from accumulated other comprehensive income (loss) 20 — 20 Net current period other comprehensive income$407 $28 $435 Balance, April 30, 2025$407 $(23)$384 There was no balance or activity in accumulated other comprehensive income prior to January 31, 2024. As the Company records a valuation allowance against its U.S. deferred tax assets and substantially all of the Company’s accumulated other comprehensive income originated in the U.S., other comprehensive income did not include income tax expense, and the amounts reclassified from accumulated other comprehensive loss for unrealized gain (loss) on cash flow hedges did not include income tax expense.

8. Equity-based compensation

(a) Equity award plansIn January 2018, the Board of Directors adopted the Company’s 2018 Stock Option Plan (as amended, the "201