Brief: Phreesia Announces Fourth Quarter Fiscal 2023 Results

Phreesia

22/03/2023 20:21

March 22 (Reuters) - Phreesia Inc  PHR.N :
    * PHREESIA ANNOUNCES FOURTH QUARTER FISCAL 2023 RESULTS
    * Q4 REVENUE ROSE 32 PERCENT TO $76.6 MILLION
    * QTRLY  LOSS PER SHARE $0.72
    * SEES FY 2024 REVENUE TO BE BETWEEN $353 MILLION AND $356
MILLION
    * SEES  FY 2024 ADJUSTED EBITDA TO BE BETWEEN NEGATIVE $65
MILLION
AND NEGATIVE $60 MILLION
    * Q4 EARNINGS PER SHARE VIEW $-0.51, REVENUE VIEW $74.5
MILLION --
REFINITIV IBES DATA
    * FY2024 REVENUE VIEW $357.8 MILLION -- REFINITIV IBES DATA
    * ON MARCH 9, WE TRANSFERRED A SUBSTANTIAL PORTION OF OUR
CASH AND
CASH EQUIVALENTS FROM SVB TO OTHER FINANCIAL INSTITUTIONS
    * HAD TOTAL CASH AND CASH EQUIVALENTS OF APPROXIMATELY $170
MILLION AS OF MARCH 10, 2023
    * ON MARCH 10, 2023, WE OBTAINED CONSENT FROM SVB TO HOLD UP
TO
$165 MILLION OF CASH IN ACCOUNTS OUTSIDE SVB UNTIL MAY 15, 2023
    * PHREESIA -BELIEVE CASH,CASH EQUIVALENTS ALONG WITH CASH
GENERATED IN NORMAL COURSE OF BUSINESS ARE SUFFICIENT TO FUND
OPERATIONS FOR NEXT 12 MONTHS
    * EXCEPT FOR SVB CONSENT, SVB DEVELOPMENTS & RELATED FDIC
ACTIONS
HAVE NOT MATERIALLY IMPACTED OUR FINANCIAL POSITION OR OUR
OPERATIONS

Source text for Eikon:  ID:nBw2KZ1CFa 
Further company coverage:  PHR.N 

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