0001412408-26-000079
SEC filingPhreesia delivered double-digit year-over-year revenue growth and achieved its first full-year GAAP net income in fiscal 2026, supported by operational efficiency improvements.
Net cash provided by operating activities rose materially in fiscal 2026, driven primarily by increased cash receipts from customers corresponding to the period’s higher revenue levels. The company generated $67.7M in free cash flow during the year, after accounting for $11.1M in capital expenditures focused on product development and infrastructure investments. Research and development costs for the period primarily consist of expenses for product enhancements that do not meet criteria for capitalization as internal-use software; eligible development costs are capitalized only when management confirms a project is probable of completion and intended for active use. The company maintains unused borrowing capacity under its existing credit facility, which may be used for working capital needs, additional permitted acquisitions, capital expenditures, and other general corporate purposes, subject to compliance with the facility’s restrictive covenants.