Filing Flows › Phreesia (PHR) › Q2 FY26
Phreesia (PHR) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Sep 5, 2025
Phreesia (PHR) reported revenue of $117M for the second quarter fiscal 2026 (Q2 FY26), +15% from a year earlier and +1% from the quarter before. Operating margin was -1.3%, net earnings $654K (0.6% of revenue).
Phreesia, Q2 FY26: revenue $117M (+15% year over year), operating margin -1.3%, net earnings $654K, operating cash flow $14.8M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $117M | +1% | +15% |
| Operating profit | −$1.5M | — | — |
| Net earnings | $654K | — | — |
| Operating cash flow | $14.8M | -0.1% | +34% |
| Free cash flow | $13.1M | +15% | +97% |
What changed
Revenue was $117.3M in Q2 FY26, up 15% year over year and up 1% from the previous quarter. Subscription and related services was the largest line at 46% of revenue. Network solutions added $7.0M year over year (up 25%), 46% of the total change.
Operating costs exceeded revenue by $1.5M, an operating margin of -1.3%. Total costs fell 0% while revenue rose 15%. The fastest-growing cost line was Other operating costs (+15%). Net earnings were $654K. Non-operating items added $944K, -168% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $14.8M (up 34% year over year), 2268% of net earnings. Non-cash charges added back $7.4M of depreciation and amortization and $16.2M of share-based compensation. Working capital and other items used $9.5M. Capital expenditures of $1.8M left free cash flow of $13.1M.
Questions
What was Phreesia's revenue in the second quarter fiscal 2026?
Phreesia (PHR) reported revenue of $117M for the second quarter fiscal 2026 (Q2 FY26), +15% from a year earlier and +1% from the quarter before.
Was Phreesia profitable in the second quarter fiscal 2026?
Operating loss was $1.5M (-1.3% of revenue) and net earnings $654K.
Source: Phreesia 10-Q on SEC EDGAR.