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Phreesia (PHR) earnings and revenue breakdown

Latest: Q2 FY27 · 10-Q filed Sep 3, 2026 · Phreesia (PHR) Q2 FY27 earnings results →

Q2 FY27 Revenue up 10% year over year to $129M · 1¢ of every $1 of revenue kept as net profit · operating margin 5.9%

Phreesia made $129M in Q2 FY27 (+10% Y/Y): Subscription and related services $52.7M, Payment solutions $38.5M, Network solutions $38.3M. Operating margin 5.9%, net earnings $1.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 3, 2026.

Revenue$129M
Year over year+10%
Operating margin5.9%
Net earnings$1.9M
Operating cash flow$18.3M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $129.5M in Q2 FY27, up 10% year over year and down 1% from the previous quarter. Subscription and related services was the largest line at 41% of revenue. Payment solutions added $10.1M year over year (up 36%), 83% of the total change. Subscription and related services declined 2%.

Operating profit was $7.6M, a 5.9% margin (up 7.2 points year over year). Total costs grew 3% against revenue growth of 10%. The fastest-growing cost line was Other operating costs (+23%). Net earnings were $1.9M, up 193% year over year. The effective tax rate was 40.8%.

Operating cash flow was $18.3M (up 24% year over year), 956% of net earnings. Non-cash charges added back $10.0M of depreciation and amortization and $11.9M of share-based compensation. Working capital and other items used $5.5M. After capitalized internal-use software development costs ($4.0M) and purchases of property and equipment ($492K), free cash flow as the company reports it was $13.8M.

Quarterly history

Phreesia revenue by quarterPhreesia revenue by quarter$110MQ4 FY25$116MQ1 FY26$117MQ2 FY26$120MQ3 FY26$127MQ4 FY26$131MQ1 FY27$129MQ2 FY27
Phreesia net earnings by quarterPhreesia net earnings by quarter−$6.4MQ4 FY25−$3.9MQ1 FY26$654KQ2 FY26$4.3MQ3 FY26$1.3MQ4 FY26$3.0MQ1 FY27$1.9MQ2 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 FY2710-QSep 3, 2026$129M+10%5.9%$1.9M$18.3M
Q1 FY2710-QMay 28, 2026$131M+13%5.2%$3.0M$23.9M
Q4 FY2610-KMar 31, 2026$127M+16%-4.4%$1.3M$33.7M
Q3 FY2610-QDec 9, 2025$120M+13%3.1%$4.3M$15.5M
Q2 FY2610-QSep 5, 2025$117M+15%-1.3%$654K$14.8M
Q1 FY2610-QMay 28, 2025$116M+14%-2.8%−$3.9M$14.8M
Q4 FY2510-KMar 13, 2025$110M+15%-6.9%−$6.4M$16.3M

Charts

Phreesia: revenue growth, year over year and quarter over quarterPhreesia: revenue growth, year over year and quarter over quarterY/YQ/Q+15%Q4 FY25+14%+6%Q1 FY26+15%+1%Q2 FY26+13%+3%Q3 FY26+16%+6%Q4 FY26+13%+3%Q1 FY27+10%-1%Q2 FY27
Latest (Q2 FY27): Y/Y +10%, Q/Q -1%.
Phreesia: where the cash came from (+) and went (−), TTM to Q2 FY27Phreesia: where the cash came from (+) and went (−), TTM to Q2 FY27Other investing−$112MOperating cash flow$91.4MNet borrowing (+) / repaid (−)$54.9MOther financing−$47.7MCash drawn (+) / kept (−)$23.6MCapital spending−$10.6MShares issued$1.4MTaxes on employees’ shares−$1.1MExchange rates−$157K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Phreesia: profit against cash, quarter by quarterPhreesia: profit against cash, quarter by quarterNet incomeOperating cash flow−$14.4M$5.8MQ3 FY25−$6.4M$16.3MQ4 FY25−$3.9M$14.8MQ1 FY26$654K$14.8MQ2 FY26$4.3M$15.5MQ3 FY26$1.3M$33.7MQ4 FY26$3.0M$23.9MQ1 FY27$1.9M$18.3MQ2 FY27
Latest (Q2 FY27): Net income $1.9M, Operating cash flow $18.3M.
Phreesia: diluted shares by fiscal yearPhreesia: diluted shares by fiscal year40MFY2150MFY2252MFY2355MFY2458MFY2561MFY26
+55.6% since FY21: more shares outstanding (issuance, stock pay).
Phreesia in its industry: growth against margin (87 companies, SIC 7389)Phreesia in its industry: growth against margin (87 companies, SIC 7389)revenue growth, year over year →↑ operating marginmedian +8%median 7%ACNUBERVMELIMAPYPLFISVDASHAMTMFISGPNEBAYCNXCLYFTBRCPAYFOURRBAMMSTNETAKAMCARTWUCSGPADVMSCIWEXZGCBZETSYFICOTICEXLSCNDTRELYALITMBGLQNSTMAXPAYHQYPAYOPRTHCTEVXMTRFLYWGETYANDGNUTXACVAXBPSEZLIMXILQDTRMNIRPAYRGPSCORJANLCASSAMWLSGRPDHXBAERPAYSOPRXNOTEHGBLPOWWRSSSDVLTPAYDQMCIINVUTGLASFHCJMBOLBXHLDFTFTDBMMCNFNSRCOGBUXWASTBCRDPHR (+10%, 6%)
Services-Business Services, NEC; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Phreesia

Phreesia, Inc. ("Phreesia," "we," "our," or the "Company") was founded in 2005 and completed its initial public offering in July 2019. Phreesia provides an integrated software, payments, and engagement platform designed to address three foundational challenges in healthcare delivery: access to care, affordability of care, and patient health outcomes. Our platform is embedded directly into provider workflows and patient interactions, enabling healthcare organizations to activate patients, streamline administrative processes, and improve financial performance across the care continuum.

In its own words, from its 10-K, filed Mar 31, 2026.

Phreesia against its Services-Business Services, NEC peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +10% against the peers' median +10%. Operating margin: 5.9% against the peers' median 9.8%.

CompanyQuarterRevenueY/YOp. margin
PHR PhreesiaQ2 FY27$129M+10%5.9%
ACN AccentureQ4 FY26$18.7B+6%15.3%
UBER Uber TechnologiesQ3 2026$14.8B+10%9.8%
V VisaQ4 FY26$12.1B+13%59.8%
MELI MercadoLibreQ3 2026$10.8B+45%6.3%
MA MastercardQ3 2026$9.8B+14%59.8%
PYPL PayPal HoldingsQ3 2026$8.6B+2%16.3%
FISV FiservQ3 2026$5.2B-1%-105.7%
DASH DoorDashQ3 2026$4.6B+34%9.6%

Source: Phreesia 10-Q on SEC EDGAR · CIK 1412408 · Services-Business Services, NEC

13F: who owns PHR and who is buying

Largest holders of PHR (13F)Largest holders of PHR (13F)Vanguard Group$97.2MPale Fire Capital SE$91.8MBlackRock$72.2MAQR Capital Management LLC$32.4MVanguard Portfolio Management LLC$30.7MVanguard Capital Management LLC$26.2MAcadian Asset Management LLC$16.5MState Street$16.2MGoldman Sachs Group$14.8MGeode Capital Management, LLC$13.5M
Funds' net buying of PHR by quarter (13F)Funds' net buying of PHR by quarter (13F)$20.6M2024-09$26.4M2024-12$35.1M2025-03$59.6M2025-06$37.2M2025-09−$61.3M2025-12−$4.4M2026-03−$5.8M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on PHR

History

Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results

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