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Phreesia cash flow, quarter by quarter

Latest: Q2 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$17.8M in Q2 FY27 · $80.7M over twelve months

Operating cash flow$18.3M
Capital spending−$492K
Free cash flow+$17.8M
Cash / net income9.6×
Cash conversion cycle6 days

Analysis

In Q2 FY27, Phreesia generated $18.3M of operating cash flow and spent $492K on capital projects, leaving free cash flow of $17.8M. That is $4.8M more than in Q2 FY26 ($13.1M).

Over the twelve months to Jul 31, 2026, operating cash flow was $91.4M; the largest uses were other investing ($112M), other financing ($47.7M), capital spending ($10.6M); besides operations, cash came from net borrowing (+) / repaid (−) ($54.9M), shares issued ($1.4M); the cash balance fell by $23.6M.

Operating cash flow was $18.3M against net income of $1.9M — 9.6× profit, cash ran ahead of reported earnings. The largest differences: stock-based pay +$11.9M, depreciation & amortization +$10.0M, deferred revenue −$5.5M.

Its cash conversion cycle was 6 days (receivables 64 + inventory 0 − payables 58).

Free cash flow

Phreesia: free cash flow by quarterPhreesia: free cash flow by quarter$5.2MQ3 FY25$13.5MQ4 FY25$11.3MQ1 FY26$13.1MQ2 FY26$12.2MQ3 FY26$31.1MQ4 FY26$19.6MQ1 FY27$17.8MQ2 FY27
Operating cash flow less capital spending.
Phreesia: operating cash flow against capital spendingPhreesia: operating cash flow against capital spendingOperating cash flowCapital spending$5.8M$616KQ3 FY25$16.3M$2.8MQ4 FY25$14.8M$3.5MQ1 FY26$14.8M$1.8MQ2 FY26$15.5M$3.3MQ3 FY26$33.7M$2.6MQ4 FY26$23.9M$4.3MQ1 FY27$18.3M$492KQ2 FY27
Latest (Q2 FY27): Operating cash flow $18.3M, Capital spending $492K.

Capital allocation, year by year

Phreesia: where the cash came from (up) and went (down), by fiscal yearPhreesia: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsFY22: Operating cash flow −$74.7MFY22: Net borrowing −$4.3MFY22: Shares issued $251MFY22: Capital spending −$18.4MFY22: Acquisitions −$34.4M$251MFY22FY23: Operating cash flow −$90.1MFY23: Net borrowing −$5.7MFY23: Shares issued $1.6MFY23: Capital spending −$4.7M$1.6MFY23FY24: Operating cash flow −$32.4MFY24: Net borrowing −$6.8MFY24: Shares issued $955KFY24: Capital spending −$5.8MFY24: Acquisitions −$14.6M$955KFY24FY25: Operating cash flow $32.4MFY25: Net borrowing −$7.8MFY25: Shares issued $1.0MFY25: Capital spending −$8.7M$33.4MFY25FY26: Operating cash flow $78.8MFY26: Net borrowing $83.2MFY26: Shares issued $1.5MFY26: Capital spending −$11.1MFY26: Acquisitions −$153M$163MFY26
Over these 5 years operating cash flow totalled −$86.0M; the largest uses were acquisitions ($202M) and operating cash flow ($197M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$74.6M
Debt$1.1M
Net cash$73.5M
Due within a year$2.7M

Phreesia funds itself: free cash flow was $80.7M over the last twelve months, and $74.6M of cash and investments stands against $1.1M of debt ($2.7M due within a year, 28.1× covered by cash).

Where the cash came from and went

Phreesia: sources (+) and uses (−) of cash, Q2 FY27Phreesia: sources (+) and uses (−) of cash, Q2 FY27Net borrowing (+) / repaid (−)−$24.7MOther investing$22.7MOperating cash flow$18.3MOther financing−$17.6MCash drawn (+) / kept (−)$1.8MCapital spending−$492KExchange rates$25KTaxes on employees’ shares−$14KShares issued$10K
Phreesia: sources (+) and uses (−) of cash, TTM to Q2 FY27Phreesia: sources (+) and uses (−) of cash, 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 profit to cash

Phreesia: net income to operating cash flow, Q2 FY27Phreesia: net income to operating cash flow, Q2 FY27Net income$1.9MDepreciation & amortization$10.0MStock-based pay$11.9MDeferred taxes$1.1MReceivables$185KPayables$489KAccrued liabilities$5.0MDeferred revenue−$5.5MPrepaid and other assets−$2.6MOperating cash flow$18.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY2764—586
Q1 FY2764—595
Q4 FY2667—4324
Q3 FY2663—3231
Q2 FY2660—2634
Q1 FY2657—2433
Q4 FY2561—601
Q3 FY2557—59-2

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 FY27$18.3M−$492K−$24.7M$10K$1.8M$17.8M
Q1 FY27$23.9M−$4.3M−$7.4M$131K−$2.6M$19.6M
Q4 FY26$33.7M−$2.6M−$1.2M$374K$32.5M$31.1M
Q3 FY26$15.5M−$3.3M−$1.8M$838K−$8.1M$12.2M
Q2 FY26$14.8M−$1.8M−$2.5M$114K−$7.4M$13.1M
Q1 FY26$14.8M−$3.5M−$1.4M$128K−$6.7M$11.3M
Q4 FY25$16.3M−$2.8M−$2.6M$429K−$2.5M$13.5M
Q3 FY25$5.8M−$616K−$1.9M$17K$58K$5.2M

Phreesia: income statement and cash flow

Phreesia, Q2 FY27: revenue $129M (+10% year over year), operating margin 5.9%. The chart follows the revenue to costs, profit and cash.

Phreesia: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.