Company: PHR
Filing Date: 2025-12-09
Form Type: 10-Q
Source: 0001412408-25-000132
Chunk: 60

Company: Phreesia, Inc.
Filing Date: 2025-12-09
Form: 10-Q
Item: Part II, Item 1A
Chunk 60
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 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 rights, preferences and privileges superior to those of holders of our common stock. Any debt financing secured by us in the future could involve additional restrictive covenants relating to our capital-raising activities and other financial and operational matters, which may make it more difficult for us to obtain additional capital and to pursue business opportunities, including potential acquisitions. In addition, during times of economic instability, it has been difficult for many companies to obtain