Phreesia (PHR) 4 Sep 242025 Q2 Earnings call transcript

Company Profile

Participants

Balaji Gandhi	executive
Chaim Indig	executive
Anne McCormick	analyst
Ryan Daniels	analyst
Scott Schoenhaus	analyst
Jessica Tassan	analyst
Jailendra Singh	analyst
Glen Santangelo	analyst
Stephanie Davis	analyst
Joseph Vruwink	analyst
John Ransom	analyst
Richard Close	analyst
Daniel Grosslight	analyst
Sean Dodge	analyst
Jeffrey Garro	analyst
Ryan MacDonald	analyst
Jack Wallace	analyst
Aaron Kimson	analyst

Call transcript

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Operator

Good evening, ladies and gentlemen, and welcome to the Phreesia Second Quarter Fiscal 2025 Earnings Conference Call. [Operator Instructions]

First, I would like to introduce Balaji Gandhi, Phreesia's Chief Financial Officer. Mr. Gandhi, you may begin.

Balaji Gandhi

operator. you, Thank welcome Second and July Earnings Call Conference XXXX. Good of to Fiscal the Quarter on XXXX, for evening, Phreesia's which XX, ended

Joining our Chaim call me Officer. Executive Indig, on today's Chief is

press of SEC, documents of the discussion section markets issued Investor website Form be our our results Our are quarterly ir.phreesia.com. the release to stakeholder Relations complete in the our and submission after These available our at found on closed can our in today. earnings including X-K both related letter,

a today's replay following our website As reminder, recorded, call. call and ir.phreesia.com will Investor is a at the being the on conclusion of be available Relations

and our we call, financial trends, growth, predictions today's the our outlook During results. of anticipated industry strategies, anticipated business, our regarding make statements performance forward-looking future including statements, including our regarding our may about

fully risks, statements risks to or and uncertainties other to factors materially SEC press that filings, risk SEC performance our stakeholder included differ statements. subject our quarterly factors earnings with from release, in Forward-looking may results, letter our our achievements in filed our the on be described described and Form in more forward-looking are actual various cause will our report that XX-Q are tomorrow. those including our Such in

call or made as events new obligation generally this measures accordance not date no the statements to of date in undertake forward-looking These on the order and addition We such should of refer non-GAAP after be investors. may The or occurrence and GAAP EBITDA or based considered statements expectations for to as information measures only to to and made. isolation with certain to circumstances the on update on unanticipated flow results. We not from obligation financial accounting in will statements this call also these expressly and our which forward-looking speak additional a to our reflect provide reflect current to cash of update and substitute adjusted as or views information be to principles, are disclaim free events. in accepted in the the

A which Investor and with results X-K market ir.phreesia.com. non-GAAP furnished Relations found our press at letter, filed be to the our stakeholder of also may closed in our website were release after SEC Form earnings with reconciliation GAAP found and may today on the be

I will the now over Indig. to turn CEO, our call Chaim

Chaim Indig

everyone. first by time the earnings the to achieved as will Thank a Thank second public evening, reaching this to for joining quarter drive quarter company. internally in we We you Phreesia, generated able of milestone our marks new era start utilize cash you, cash fiscal call. second which We flow positive stakeholder Balaji, in milestone value. important believe the a be and fiscal for good for another

quarter Our plans this all and are results to key We across well financial metrics. plan revenue fiscal were year and solid execute year, believe we profitable of set year our full second our on as continued are next care. our active operating growth financial an for and and and every make to mission for care vision commitment day our beyond. their organization an to every good in we to making also very my feel easier where participant and person appreciate their I up about teammates of

to over now some to it Balaji hand will I provide financial highlights.

Balaji Gandhi

good and Chaim, evening, Thank you, everyone.

million, was fiscal highlights revenue regarding year-over-year. couple year-over-year. our in quarter. me $XX XX% up the million second EBITDA $XXX.X was $XX $X.X letter with start Adjusted and of the Let up a million QX million,

the XXXX revenue QX earlier $XX,XXX, compared total year-over-year Our quarter. was down QX total excluding from average this down year. the to flat wound revenue per was clients clearinghouse when care we prior health year-over-year. XXX X% client AHSC AHSC, relationship revenue total from that or AHSCs the XXXX fiscal services increased fiscal by per revenue And per AHSC

important fiscal achieved cash balance We sheet. in milestones and the to second flow quarter. Turning our X

flow $XX.X year-over-year. flow First, the a fiscal million achieved million, at traded flow we positive first XX, was returned cash we at to year-over-year. million, million time XX. the positive $XX.X operating cash million $X.X first cash of Cash July up cash for April publicly flow; Chaim company. as $XX million Operating $X.X our on up and was as at quarter was Free from free $XX positive on second, end positive up mentioned,

expect free to while positive investing long-term profit continue cash flow We to in and growth. generate revenue

XXXX. our to Now financial for on outlook moving fiscal

our at million. revenue of $XXX maintaining XXXX million are fiscal outlook a $XXX range year for We to

our $XX range. million updating and of That's $X to to outlook of range fiscal XXXX million increase year $XX are adjusted range from at our for million. $XX a EBITDA top million a of bottom We previous million $XX the end a to

provided We also have metrics: and an total X AHSC. outlook AHSC's revenue per for

in for reported we XXXX. full compared XXXX X,XXX the AHSCs to expect reach We fiscal approximately fiscal to X,XXX

We increase sharing you to expect In total revenue and XXXX. AHSCs to in compared for fiscal our the help we XXXX expectations XXXX, fiscal we per to $XX,XXX revenue beyond until XXXX. in fiscal total AHSC model order achieved per are AHSC also

to X,XXX expect reach in We AHSC fiscal approximately XXXX.

increase to expect revenue we XXXX. Additionally, fiscal total fiscal per XXXX in to AHSC compared

and organization reiterate good to as contribution their an Chaim's like about and Finally, results. like my all I comment very to that where we teammates feel thank congratulate to would are for our I would

open session. can for we Operator, I lines think up Q&A the now

Operator

of Your first line comes Anne JPMorgan. the Instructions] Samuel [Operator with from question

Anne McCormick

keeping growth it in inflection. mind single a growth with digits call the thanks of kind XX% the about next growing, bit revenue your maybe I strong it, client of and XXXX. little just how clients could imply really on results, much a spend discussing ramp for of just to XXXX. that of hoping year, think time for so color per revenue of new the drivers provider providing you target the lower-term Congrats pretty the helpful does And beyond high significant was modeling

the was key I what are? So could of inflection that about hoping drivers you are talk

Balaji Gandhi

Thanks, Anne, Balaji. for question. This the is Sure.

So a I things, your couple question. think, on of

you think long sort a time. in had I we growth the you And year, good us when of perspective algorithm was followed the being for on of went public. having X.X if think that First, we first have about public, some years these drivers

lot additional then capable So of both our in a driving of we're deal that. you give driving some just color total certainly of a revenue value And to the base of size and higher. on sort maybe

the been it's If big about of -- pipeline, the the 'XX in right think half of first fiscal you our for 'XX. was in now first it as half as

size first transactions that the rates doing value year the half. win in have of last consistent are -- been pipeline total half half Our first XX% year. first bigger we're this about versus of over And the

back 'XX, fiscal them that's to look go how So this of is and 'XX years. it will probably probably couple at next fiscal and the play to in

Anne McCormick

happening, any a that maybe and Maybe file pay your could are anticipated. on just carve than more from differs the patients I some you? that? for That's of patient provide think, great. with currently sooner maybe bill hoping leveraging of I was kind any And of there follow-up. you how how product I color on Is transacting

Chaim Indig

Chaim. there is. is Yes, this Anne,

it's of It's but it at bill get your patient do We to for heavily pay check some leveraging product it, a office. and sure lot without for actually in, where are of a on experience really better -- invested their you'll significantly also doctors' file a statement. current ability I'm having we've see to a and their write a work the provides and and

clients the our The been has So proud what really initial beyond response it's from thought be. of been a team. big we even investment. would We're well it

been team long lot It took a the we but to a us So hats harder probably rolling it off that's thought. out. we expected, was than little

see at And your doctors. been when know you it's So it me nice. really let

Operator

of Your with line comes William Blair. next Ryan question from the Daniels

Ryan Daniels

I'll million start as trend level forward? great of congratulations $XX I'll flow in bit outlook two maybe the up million from continue now. a marketing down Really have see for think start should going spend, to that modestly positive. sales Maybe Balaji. more trend a of that you, That's free impressive, the $XX to we with I downward growth drive peak we a to my one cash forward? Is sustainable your to and trended milestone. on questions. move going Or a

Balaji Gandhi

Ryan. Thanks, Yes.

you call plus it, or $XX been think it's $XX quarters level, should million, XX for in or -- million that minus I now. so

get profitable talked and were which actually frankly I to to think continue built number. expect of will point nice us not clearinghouse that out were what unwinding, marketing very sequentially. is just leverage that, I Recall made client you is Ryan, it XQ to sales that to there about that some One into that should out, us. costs XQ we

XQ So to that XQ. from came out

continue been spending large million. about nice to in and that in got -- So the a I think We've sort organization, while, people $XXX can the in organization we've for of we're and we leverage. marketing a range XXX of sales being get

So support revenue-wise. we much organization think can that bigger a

Ryan Daniels

Okay. Very pretty I shareholder client the MEDITECH reseller that available a a especially when And the that market. the acute in twofold. product? on full tonight, just helpful. And integration product question number the alliance actually the then letter in be client a will announced sizable two, you of know One, they for base? the maybe be Phreesia will base, care

Chaim Indig

Yes.

really that the and of But allows of our the lot a for products. door our directly lot for are alliance technology it say they a Phreesia it's some other us from but of piece are of of making small easier a buy one they our of of the So opening a clients, to clients products. Meditech one subset from reseller clients -- reseller their of I'd

Ryan Daniels

Great. that that mentioned And will then full you on occur? the any comments when integration

Chaim Indig

integration that out. we'll in been I a has over already very very, platform investing the it, customer base roll coming say do have supportive and we've of we the rolling what because years. expect with out I'd as been to Meditec And keep continuously

So And huge we've potential it's been very a market. we agree, prudent.

Operator

line comes KeyBanc. question Schoenhaus with the Your of Scott next from

Scott Schoenhaus

-- way still would right more, percentage it that that that year? business, some as more Just to grow think maybe subscription on fiscal wanted additional 'XX could the break the out on the does always teens solutions of mid- around was appreciate. network next understanding to the color about imply I'd the My to that we if color the Is And target. what really for year. poke got you a every high

Balaji Gandhi

is we we into to part And can what our revenue. bigger be Solutions we talk of item, do continue forecasting. to get a want revenue. have be But I I Yes, about a Network revenue helpful try don't line think I to that think we Scott, whole said to will think

it as So time. over will a percentage, grow

being value Solutions. think so bigger, I that's inclusive talked size And I and of about of Network transactions

but late, percentage ways And it will that growing just at to you as sort of expect really it's is faster have things the and subscription grow I to been that should of we think So one different a nice grow. of X quarter-to-quarter. or really fluctuate about business of that's these than revenue our

Scott Schoenhaus

And just opportunities That's out that helpful, Anything mentioned in there as Yes. there a to provided cash in I attractive think of very follow-up inorganic the part Balaji. new currently by terms business call more the the market guess you opportunities about generation. M&A? there. you of is which for

Balaji Gandhi

are at I we confused. and anything I opportunities... a Chaim looking mentioned Maybe inorganic don't about think about little are specifically Yes.

Scott Schoenhaus

help Your free generation you would achieve targets. cash these

of between the sorry, saying -- I So I that lines the read as

Balaji Gandhi

company comment doing you stronger that flow. more and we're don't the think We keep of be more value. expect that's in I a that it think things us around take from good, ton I cash flow away think allows generating should I'd doing. free creates just anything us investing to makes cash to a And generally,

Operator

with Sandler. question Your from Piper Tassan next the of comes Jessica line

Jessica Tassan

understand of of the of pipeline grow? in confidence that. products? you seeing opportunities referenced the So AHSC. to guide revenue kind growth the term? to magnitude what size giving the think what's revenue appreciate of guidance, kind of I in Is but Or are you be it I on the kind or you to visibility wanted We just sufficient average to new just able your changed per guys the

Balaji Gandhi

Jess. Thanks, Yes.

about new you're in a put over what something is the in information of next of business with think seeing we wanted I we output the how terms the today of years So we think the shared several to ago couple years. place

falls just but which network for of so And suite clients for Life our we providers, Sciences both solutions much broader a also in that area. solutions into got

a that's put when total started about that and very almost talking in bigger, So X we're thing we place getting ago. years value intentional to

about, with And a that's to what seeing going "Hey, so expecting today. we've and where think we had quantitatively?" and it. a Helpful. I lot we been did we're analysts it is And shareholders And we've of little compressions reacting why shared bit this

Jessica Tassan

That's the us renewal. leverage guys that why is opportunity is I if patient understand of kind helpful. PAM could maybe all? within PAM think important. Yes. at hoping activation AHSC And then was what congratulations existing But we the on remind you I really just so to your

Balaji Gandhi

Yes. some of were I already it. one of and the mean, were that look, reasons first patient utilizing in of acquiring very all, interested was activation clients measure the our we

and the think the you measured. is I program Choices space, in PAM of have where innovation to centers application about as launched, required Medicaid think the easiest Care for the part can Medicare nephrology that is Kidney be

around do Phreesia us have that Phreesia, all in to that about PAM. with nephrology and So that's lot both time, products program, of It they to things them. our allows over a measure does, think client things makes if KCC you It participated a the the stickier. integrate

I now for. specialties gives out areas that over longer CMMI. an renewal, all opportunity models provider public in models of new those that Phreesia And or about that could think be it settings and period to a works think within there, get included think new it's But I you us information time

Operator

question comes with line the Singh from next Securities. of Jailendra Your Truist

Jailendra Singh

that might to want but down It guidance go expectation. quick be to clarification. line looks I metrics this growth AHSC on top it not fiscal I you're modeling slightly actually A looks back talk count, like you're 'XX to Street know the like helpful. is trying higher data color giving.

on, line underestimating just maybe for give the higher be something count. that AHSC I per the slightly just fiscal we to sure is AHSC a make clear, it's mix want are revenue top total saying the guidance to of talking might you message want essentially 'XX, You're the on some but X that not right? metrics,

Chaim Indig

Yes.

think that's right. I

takeaway say anything trying AHSC what think the we're is have 'XX the we years. total revenue than more say think of from fiscal do to see XXXX we'd per of terms about that said I revenue that's formally the is couple right But I last for haven't you in year. will you in what contribution in

Jailendra Singh

any you then my year. efficiencies understand to profile around guidance able to than performance raise guys Would and fiscal outperformance this you you incremental question find Okay. and cost you main to EBITDA And faster like Or these at this cost find margin attribute mental -- expect think business, Just change the did all? your to are which in this long-term thought? not previously you trying efficiencies, if there's about? leverage

Balaji Gandhi

Yes.

really on revenue, the applies think company. the I earlier about it question throughout

really going I what there company how -- the we kind growth. kind think we of it lot at around lot company to company of a we be, effort -- like, people of by what are wanted there's was a look to and what our of focus want

particular like were lot in don't acknowledge know motion that, at And put so things timing to looking And be about of Phreesia to We a but efficient. that I people going of any you precision where be of for of done first a think all, large in quarter, spend this. we're you constantly when opportunities capital. different just of with more lot well, we've part a the amount to you're if still

it's kind the finish letter, section So some of line. I of mentioned this think in Chaim's isn't

Jailendra Singh

at the the a in end the as and bundle And that sneak you one, on Okay. quarter can provide color if fiscal last the count What year? was here. metric SDR can I of guidance

Balaji Gandhi

topic past quarters. over Yes. -- the talked And couple lot of something this about a we've is another internally

here Network a We're Andy's Solutions. I it's we organization question today, million. that spending $XXX on the organization. we of in work talked inclusive think about do all over I sit about XXX-person as And

the of mean people driving a XXX-person about been community SDRs of I the there I organization SDRs across that the of in from think little was bit confusion context that tactic. investment new have growth net this. lots company. one are has

wanted the how about marketing, it think as to of of share. sort year about XXX, on if and last was we're And don't It's I'd it of say, same probably. to it not think something score sales it's as which think yes, the about $XXX So and just rather I I you inputs think keep million. playing is

Operator

comes from Santangelo question Jefferies. the of next Your line Glen with

Glen Santangelo

deals ones sit me. 'XX provider visibility have really guidance point? Just point? fiscal now fiscal forward quick curious, visibility at just the year. on much this much on working want those I'm have for here out adds, with you to Back visibility for months know the much next two of you're kind left to you in this that look in adds curious provider How I -- how I X do of 'XX. at as throwing towards how forward Like

Balaji Gandhi

Yes. way, this question I'll answer Glen. the

entering revenue year when have think a think We about and subscription the space, we and provider payment we processing. out

of lots to I'm XX% visibility. say, have We going visibility.

of So that's Network been That's consistent. we've And most. is. the where the pretty I part our most variability the think business of Solutions, have in we

in million even Solutions. of there have late revenue So year, the $XX range, variability we this that the in Network is most

So sitting September, next for is a why which here year the in for when we full do a we're lot, we've year. fiscal have target given

maybe. but but XX% lot year, entering a So a say today, not

Glen Santangelo

penetration I on of Okay. what you're curious with you. the be rates some where year. be maybe, could I'm quarter, sort of on automated Perfect. great might follow provider just the pushback as obviously, a up Chaim, for if you selling? kind adds X solutions And think of to slower think I Because industry like may next but

you we think higher seeing starting is EHR you always competitive people to rates? the Like companies wondering going from I'm it any up I push landscape know on? are against penetration you do always the sure what to -- movement say be, in are a is And and hard business this so I guess continues but are

Chaim Indig

the a is think I great Look, team job. doing

are think invested in products, fruit. I a we've heavily new of lot bearing which

making product just diversifying So away being from in I think and known organization been the investments we've intake. our as

businesses has So we're basis, we're that, yearly us, more can on And see at they to the that helped businesses and deals. I to and private win of rate invested those frankly, starting think don't a struggle, and back which not -- that ability win starting monthly regularly did. really invest more weekly, or on the fairly more to having have are equity venture-backed

think I what -- continue not beaten, we So have you're and to we it's you the keep did, to what where believe if product you should And view is, invest it's should be doing. our in right growing you to a you continuous -- business.

so And thesis played far, that has out.

Balaji Gandhi

I'd of what Glen, that's have clients. add is it, part is And growing. I growth the of we an absolutely associated -- client so -- point important is the revenue think with different ways but is And

Chaim Indig

I people been don't "Well, care often amazing. experience It's so hear in saying, my seamless." has health

Operator

from line Davis comes of Stephanie Barclays. question Your next the with

Stephanie Davis

offboarding of sense broader this sophistication Congrats that on is is the to metric we it have how give it through? insight on might much bit the one, if you How some push hoping you from client of next And of us make sale solution pedal for new which the recent clients the its when seen it you base We flow of in into or can of and and that platform? that quarter. aren't there about when about, us that cross-sell gas think some the had balance scale had the longer any really your per at further talked rev of might you suite? scale the off-boarding deals at much a is

Balaji Gandhi

that? last further What Is was there part of what? the

Stephanie Davis

that might be in off-board scale looking Any focus to relationships the further not statement able are you to and do? that client

Balaji Gandhi

it. got I Yes. Yes.

of your say, things So things a two really question. couple around I'd

a in 'XX, is for First distorts with unusual shared just to that of very when take one which unpack we've just you're seeing from all, it lot that that AHSC us plan, in tried client you million million, what $X fiscal is was out of this -- clearinghouse a trend. we've what $X

think was though I -- the size of a this the to get into and larger. deals pipeline, year about ago XX% it's this ago. if year these per I same of about at the larger earlier, you I the revenue future flows you until through like a second -- as But lift And is these I think it thing time, the The value is mentioned think said, client. compared on a it's that as

Stephanie Davis

you your leverage the more have of a on Should maybe about seen focus? bit And or a upmarket go-to-market focus guys marketing lot front. sales of think more narrow we in a and change a

Balaji Gandhi

it's think I been consistent. No, pretty No.

I of composition it's data can of now but you associated quarter-to-quarter, and period the the size with around over that over revenue there's whole much visits do been lots It bounces with pretty think of And on the much and -- them. X and analysis -- clients it's time. years pretty the same been same. has

Operator

of next Joe comes Your question with Baird. Vruwink from line the

Joseph Vruwink

Great.

new basis On gross installed expectation in had progress could we're some or within cohorts. and the the stretch on good wondering the those for a the the on now you if basis of for shorter the established economics to are net numbers. driving I'm base, updates customer new that's speak I those paybacks even I'm kind dollar accounts, deals And you if the that have wondering maybe transactions experience time. and about changed of wondering, talked guess and you've of I'm better seeing. logo over obviously, retention

Balaji Gandhi

we've I'd gross a in since we yes XX% XX% tight on is And went part, question. of on first revenue the the public. Yes. been short range say the answer on very second to retention

So -- and that to continue range. we in be

Joseph Vruwink

if wondering basis? framed over say, let's and second a rates expectation incremental just then way might both conversion the year-over-year. for in incremental you Okay. EBITDA that cash where the question, the prepared an remarks, have relationship you free XX-month flow rolling, and I'm And settle

Balaji Gandhi

continue mean, at to this there will I -- I time, will Joe. be nice think Not pull-through.

next strong wouldn't in be you we'll you year. -- will we now I December. tell modeling I XXX% think very it feel more into We'll but we be still comfortable think saying give pull-through,

Operator

James. Your of comes Raymond Ransom John the from next question with line

John Ransom

which A outside If you with couple what of about your to of have today? support payment, think for could overall think expense me. kind compared what you we level variable, of is expenses that do you revenue

Balaji Gandhi

trying to number revenue year, this of get next Is to a your John? way for

John Ransom

expenses No. revenue grow way try to of It's independent a will much how to understand

Balaji Gandhi

have I going at that expect a you talked healthy that million we years the clip. shouldn't couple around in pretty grow of over said which expense number think we is you continue up much quarter to a about, next $XX as

John Ransom

Okay. And then secondly, just which is state lines, kind of trying to and in read between between the is this the always lines reading question. a little a bit, school

you to to So have through higher that a you targeting per pharma would assuming to prescriptions you're I'm clients, bigger have not to client, for revenue willingness more also that clients a drive that so flow be only write do the valuable. but bigger tackle

looking groups than at were high might So past? in be are that you prescribers more maybe you the what

Chaim Indig

initial we solutions drive John, holistic board the sure that way making it provider our think I on of the more about think is across we sale. the no,

I journey. offering that suite -- going throughout initially -- I a seeing take a a with entry to R&D and calls of drive to patient's both the starting as offerings we've one it's opposed thing is, to of and as that those fuller it's couple I is So say our investment been ongoing on. patient is the on lower going and in to mentioned a this early clients, more in we or with where reality to the product in value other product as broader The think -- pull initially have making we're think we've through

to to able this think giving I investors and we us do really rope product this. to in appreciate is be the do invest our

John Ransom

Right.

your done to where up you been been about mean of gone a I hired this you sales bunch So just did obviously. and what -- marketing -- has thinking growth on productivity experiment that experiment. did people, this you've has -- you the mean and I

mean team you're pretty have productivity thought a evident and productivity to operating you Now if to the work faster the What I [Audio numbers, Gap] sales put we because got able improve I'm of very it's marketing this be idea was drive in on growth, done but your of experiment. would lot appropriate, we the leverage. that with to it

the operating and that just Now focus good lot getting and you a you metrics is on returns. way do of results

been I you think everything pretty don't clear get we've right.

sort don't, of you that. got take care So at it, and you look of to it when measure

you're that's probably a I think numbers. So lot of anything? the Chaim, seeing what

Chaim Indig

No. [indiscernible]

John Ransom

think one, I a but locations on pace? R&D. had virtual, only good do this such developing last in people return followed Chaim, the And going I you're at product some company keep with you've you completely this How

Chaim Indig

we we purposeful, how try collaboration Look, about have also being have attract but a time I John, on that strengths not talent together that to person, to the focused to also together, get fully our as virtual, do pull really as have it team but recognize think think on allows play we basis. basis. to are in to it a recognizing on and but same the in we we very retain regular we think documentation we a is I communication, and us that all and regular does ideating, fairly top But from over. And

Operator

of from comes with question the next Your line Canaccord Richard Close Genuity.

Richard Close

the all information in the On took the for Ryan you letter. MedTech. Thank product Great. updates,

So say, I network with we'll by that go show the you for Just or is remind if pharma by to for like and that guess curious process, all pharma, "Hey, drug that company how up Can each sign I'll drug clients is us medication prescriptions." is a revenue paid model the the hit adherence. the being part it all this is And that solutions? what that offering, you associated of works.

Chaim Indig

Yes.

you'd as detail, as much not So I'll probably give some like.

a actually company So just to who any information worldwide. on be don't pharmaceutical clear, to disclose back we

be journey to Solutions would realized than patient that majority that it of solution they'd them. part of one be So probably it network offering, access them just to often identifiable patient's to on information selling offerings an line revenue we're that on back growing we And would and will a and provide Network more work is with suite that network. to thing. vast as no -- our opposed like be the our the pick to is would of not clients things often that around multiple But of

Richard Close

Okay. Balaji, last in year-over-year, That's or being helpful. And you focusing you're the obviously then on focused shorter on quarter, stated same pipeline maybe, paybacks. the the

not So out Is the of I they interested to maybe from stuff say? because pipeline fell product offering in product the broad just assume broader some fair probably or offering. that a were as

Balaji Gandhi

to say. I think No, are we don't

think the I you driving. things we we've years Richard, about of what output And is value, this, ago. think place the been -- size earlier. if you put in lot I of that's talked couple just And what a a about of

So about comment is get It's trying same what to pipeline beyond. us really that's will our to good. we're I think size and are place bigger, the and just get the the that deals next still is year

Richard Close

a that's And And final okay, that curious And the questions of helpful. just question is side. here then access there. on comments, patient I couple Okay. keeping retention the appreciate [indiscernible] client

Balaji Gandhi

obviously, -- But space. there's in player theme there's when specific think on don't we But about we specifically out. don't I pretty to But clients bigger I and -- out. I we're the happen, situations rates. think one retention our And with this in We to a have it's focusing think about talked we There's starting don't talk about deal. a we mean, EMR Richard. we're bring vendor, every I breadth any specific win -- call these Yes. not big we anything talked those way. not

Operator

of Your with Daniel next question from line Grosslight Citi. comes the

Daniel Grosslight

and I wanted beyond. AHSC REV back components for to of growth in to the 'XX go

growth targets. you are if medium-term of much the at committed First, provider driven XXXX obviously, I of algorithm just And fastest-growing your the wanted top segment given your then line in Networks XX% revenue Life Fast look today, to growth XXXX, subscription time the to at business time nascent. was I back that is still your growth that that frame, segment. forward to relatively by confirm Sciences per was that

achieving those majority longer-term visibility rev in that really And about have you So is as future, growth that impact AHSC the we how the to going targets? in networks drive that think per does of the now?

Balaji Gandhi

Sure.

point, both going the first Network first to company, history of So revenue revenue the line in Solutions back actually Daniel, the XXXX. is the

want we we just make had and Mason, I when it's So sure, revenue first product said the you earliest had. to the

what million And had we think then. have the the public. done how visits smaller network was much XX year appreciate you to went we I is

Solutions won't grown think one that's of the of we're Network the so few tailwind with to years these so network a to And that a has nice reasons the brands. And much, able because that people, lot we the us I ago. so have frankly, has gives size much working conversations with be grown more lot a XXX over now it of a

as about think about year, So I growth XX% talked thing. is a target. want that I think never to different of sort talked And you next any of clarify, as kind I very also we've

But this get I think from updates we'll about about talk have keep the the really updates But -- to you we're -- mean, you, revenue I in giving we'll 'XX that's you us. targeting. year, growth things you'll that talk I think that's obviously the December. we'll

Operator

next line comes Dodge the RBC Your Capital Sean of question Markets. with from

Sean Dodge

this range can that into in to or have guess a the anything business or that that the at is revenue still segment? in half guidance, QX -- the QX selling heaviest seasonal network with visibility then the there with heading respect that into -- activity. variability on of point associated big being I component in cadence solution year? back And for mentioned just share this you you You is

Balaji Gandhi

Yes.

every been guidance Sean. a this case for having year intentional that. Absolutely. range We wider pretty of the right, you're revenue year. because So about That's were

there so year in as it. is of a balls we'll the we in But of through that up air be you time keep to of sales. that the apprised and the where lot a the will doing fall, And we're lot

Operator

Your Stevens. next from of line Garro question with Jeff comes the

Jeffrey Garro

Maybe follow last little that on bit one. up a

channel about could election for get guys you comments I increased attractive it this non-media given Sciences just But you give anticipated you've there. imagine your any If maybe the to curious are specifically impact spend I'm from Life any fall. being year? an an comments would

Balaji Gandhi

in looking frankly, out think there's XXXX season. through as we'd I this And And went about well at I'm too. it, We absorbable. No, Yes. well. XXXX don't election and anything call

Jeffrey Garro

for more One enough. Fair me.

customer could that get by And of the update base? if an clients working there adoption within see to terms want service? in Just value insights are Curious on realized using on modified. early the we that what's any

Balaji Gandhi

Yes. July. the X-year in anniversary it's No, look, just across

of I to asset. a in this of helped team, driver a I think lot done can we've the it's bring it's talking think growth to be our And historically spark going our Life Sciences good beyond around we how future. conversations value just with what

that. think absolutely, you total Solutions be client Network about and conversations the revenue like going to is of part when growth, per So

Operator

from Your Needham. the MacDonald with of comes Ryan next question line

Unknown Analyst

is provider going shift of maybe is of new the Congrats expect for the more understand ads more of XXX-plus half This just Should the this forward? be of Ryan. to forward might front more I the first year or below half new clients? fewer FY 'XX guess signal up to new on seasonality deals half of guys. fiscal bigger or that on per to linear trying going should we view kind Shah new the back provider new we that rate. the be weighted as follow Matt Or quarter first a 'XX adds to the towards wanted if I on half in this selling year quarter, weighted? of

Balaji Gandhi

AHSCs of intentional of a Yes. and take had a get part very give feedback of No, runway. quarterly is conversations on folks. you our actually, Matt, and lot with to should and This away, you out is we've the this a some effort cadence bigger

do we I is average And be the think to sense a we're that. year It's we're set so I'll on and that anything like this in full point where for saying next choosing longer we'll about where we're and seasonality think for you be or confirm is time year. expectations term. anything where giving not we'll a But what just

Ryan MacDonald

on just that up Fair to makes And renewal. enough. then sense. Yes, the PAM follow

process. guys uplift? your vendors in Just that think then renewal revenue potential we models? models. in curious, that a revenue do included Or other And add those any hit of for contract as no Does you that create additional you is as a it CMS kind additional against were about just opportunity, uplift the is expansionary

Balaji Gandhi

Yes.

all, it is that the of reasons we're measure of first very about one unique. So is excited very

and could public out makes information the there. was programs, what it probably terms yes, Matt, selected opportunity on chase unique, there's that down. you I there, why there's of think And in then

also that we're some -- that's excited about. into opportunities, which there think get out that we can models creates if publicly more I we revenue can

Operator

the line Your Jack with next Wallace question Guggenheim. from of comes

Jack Wallace

same-store getting It about question algo is cash Is the I thinking about a on wanted another market do deals, way And the you're kind we I additional just the for lack periods? next like next demo some there price sunsetting any bigger considering? year. thereof should clients how much flow year? little sounds Congrats But general have, for or within you the that upselling contemplated to the positive. in ask wanted up maybe the of send impact adding be about to your growth. initial then of sales maybe algorithm growth moving to bit.

Balaji Gandhi

outlook there's versus business, sort you that's value feel as why I that's like gotten about sharing and change should characterize away the when you of of last I this And take comfortable downmarket. And wouldn't or -- it to we We're half bigger for the nothing total of half. in our go-to-market. can said, in that just that And we upmarket No, feel think our drive I talking value. next any year. we -- from terms

Jack Wallace

Appreciate that.

penetrated another just Or to year? per coming larger the at hovering next is your up way function TAM. in? Should least is around higher-value a subscription to provider of against third than the we deals little in a on that expect line, ask really the -- you've maybe So deals been higher go penetration it

Balaji Gandhi

Yes. we're what revenue. think is total And I say going we to emphasize, when again, value

on Some say mean value, of some be really, larger be larger larger we be subscription, we will them three. could some when could But of on them network and payments. total all solutions.

Operator

comes question Kimson from of next Citizens the Your with JMP. Aaron line

Aaron Kimson

the you've you partnership see in from seen help Do of July the of end marketplace health on you the forward? with month availability the Phreesia Oracle the an You announce to and for customers and Oracle first care what integration EHR? to land about integration talk going the at free it potential and

Balaji Gandhi

announced Aaron, mean we early. and I Yes, that. -- it's just

So don't there's to I get particular I anything formalize specific to to out. out. think there's don't call We're anything happy call -- think that. But

Operator

for to call question-and-answer remarks. This session. Chaim concludes the closing I turn will the

Chaim Indig

school, everyone into and forward swing you for all Very happy over lot, full joining the XX everyone gotten next kids and days, a are hope talk December. in seeing that we'll I is the look I back their to to Thanks way. back everyone, and us. in everyone's

Operator

today's joining. We This concludes call. you conference for thank

You now disconnect may your lines.

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