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Phreesia

PHR on NYSE. Phreesia sells software and payment tools to healthcare providers and life sciences companies. Market value $644m.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to July 2026. Quality checks use five annual reports, the latest for the year to January 2026.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Technology stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to July 2026
10.6%very high

For every $100 of what the whole company costs, it produced $10.61 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to July 2026
50.1×full

You pay 50.1 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to January 2026
-61.5%five-year median

Each dollar kept in the business earns -61 cents a year. Above 10 is good.

Quality score: 48 of 100. Price score: 42 of 100. Our list needs 70 on quality and 60 on price.

$10.25 a share, 32% above its 1-year low

Over the past year the price has ranged from $7.77 to $24.25.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

-0.1
-0.1
-0.1
0.0
0.1
0.1
2022202320242025202612 monthsto Jul '26
Revenue
$213m$281m$356m$420m$481m
Operating margin
-54.8%-62.9%-38.3%-13.8%-1.4%
Debt to equity
0.030.030.050.060.30
Shares outstanding
0.05bn0.06bn0.06bn0.06bn0.06bn

Health checks

  • Free cash flow positive2 of 5 years
  • Accounting looks honest (Beneish)Nothing unusual
  • Financial strength (Piotroski)5 of 8 checks we could run
  • Profit backed by cash (accruals)No
  • Debt0.30× equity
  • Revenue growth, five yearsStrong, 26.5% a year
  • Buying back its own sharesNo, 18% more shares since 2022

The quarter to July 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $129 million last quarter, up 10% on a year ago.
  • Profit: $2 million, up 193% on a year ago.
  • It keeps 2 cents of each $1 of sales as operating profit, after losing 6 cents a year earlier.
  • Spare cash over the past 12 months: $68 million, up from $28 million.
  • 1% more shares than a year ago. Each share owns a bit less of the company.
  • It has $8 million more cash than debt, down from $87 million a year ago.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
October 2024$107m
January 2025$110m
April 2025$116m
July 2025$117m
October 2025$120m
January 2026$127m
April 2026$131m
July 2026$129m
Profit by quarter
Profit by quarter
Quarter toAmount
October 2024-$14m
January 2025-$6m
April 2025-$4m
July 2025$654,000
October 2025$4m
January 2026$1m
April 2026$3m
July 2026$2m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
31 March 2026
Next quarterly (estimated, 10-Q)
3 December 2026

Who owns it

1 long-term investor we follow owns it, down from 2 last quarter. 226 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

5 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 8 sold $2m, $572,651 of it under preset trading plans.

  • Hoffman Allison C
    General Counsel & Secretary
    Sold
    under a preset trading plan
    Date
    21 September 2026
    Shares
    6,662
    Price
    $10.08
    Value
    $67,153
  • Hui Yvonne
    Principal Accounting Officer
    Sold
    under a preset trading plan
    Date
    16 July 2026
    Shares
    1,247
    Price
    $10.92
    Value
    $13,617
  • Egbuonu-Davis Lisa
    Director
    Sold
    under a preset trading plan
    Date
    14 July 2026
    Shares
    536
    Price
    $10.70
    Value
    $5,735
  • Hui Yvonne
    Principal Accounting Officer
    Sold
    under a preset trading plan
    Date
    6 July 2026
    Shares
    1,371
    Price
    $10.84
    Value
    $14,862
  • Egbuonu-Davis Lisa
    Director
    Sold
    under a preset trading plan
    Date
    25 June 2026
    Shares
    2,546
    Price
    $9.53
    Value
    $24,263
  • Hui Yvonne
    Principal Accounting Officer
    Sold
    under a preset trading plan
    Date
    18 May 2026
    Shares
    431
    Price
    $8.85
    Value
    $3,814
  • Hoffman Allison C
    General Counsel & Secretary
    Sold
    under a preset trading plan
    Date
    20 April 2026
    Shares
    6,176
    Price
    $9.06
    Value
    $55,955
  • Hui Yvonne
    Principal Accounting Officer
    Sold
    under a preset trading plan
    Date
    17 April 2026
    Shares
    1,327
    Price
    $9.28
    Value
    $12,315
  • Hui Yvonne
    Principal Accounting Officer
    Sold
    under a preset trading plan
    Date
    16 April 2026
    Shares
    10,063
    Price
    $9.08
    Value
    $91,372
  • Hoffman Allison C
    General Counsel & Secretary
    Sold
    under a preset trading plan
    Date
    10 April 2026
    Shares
    14,483
    Price
    $8.07
    Value
    $116,878

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 31 Mar 2026, plus the 10-Q filed 3 Sep 2026 and 6 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

  • It isn't cheap on profits: 50.1× operating profit.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.