Slide 1: Investor Presentation
Investor Presentation December 2023
Slide 2: Disclaimer
Disclaimer This presentation includes express or implied statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statem
Slide 3: Our mission
Our mission To help patients take a more active role in their care 3
Slide 4: Phreesia Patient Intake: who we are, what we do
2 0 1 9 >3,600 Average P h r isisPatient PatientIntake Intake healthcare services clients (“AHSCs”)1,2 e e s i a >$3.7B C patient payments o Who we are: A trusted leader in patient activation, giving providers, health processed latest twelve n f plans, life sciences companies and other organizations
Slide 5: Attractive industry tailwinds
Attractive industry tailwinds Staffing Increasing patient Accelerated Changing care Patient-centered challenges responsibility digitization models care • 1.3M intake staff • $610B out-of-pocket • Consumer demand • Providers incentivized • Need to directly represent $37B in spend by 20302 for informa
Slide 6: Our value proposition and how we make money
Our value proposition and how we make money Healthcare Services Orgs Patients Life Sciences and Payer Organizations • Simplified operations and enhanced • Improved patient experience • Direct digital communications Value proposition staff efficiency • High patient usage • Improved brand conversion a
Slide 7: Our end-to-end patient intake solution
Our end-to-end patient intake solution Used over 120M times in the past year1 Used by tens of thousands of staff1 AT HOME, ON THE GO, IN THE OFFICE IN THE OFFICE IN THE OFFICE IN THE OFFICE PhreesiaPad Mobile Arrivals Station Phreesia Dashboard Analytics Real-time integration Electronic Practice Tel
Slide 8: The Phreesia platform
The Phreesia platform Innovative software to improve efficiency, cash flow and the patient experience ACCESS REGISTRATION REVENUE CYCLE NETWORK CONNECT Mobile and in-office Patient and member education and Appointment reminders Point-of-service payments intake modalities engagement Integrated patien
Slide 9: Used by all types of healthcare provider and life sciences organizations
Used by all types of healthcare provider and life sciences organizations Providers Life Sciences and Payer Organizations Phreesia serves more than 3,600 AHSCs1,2 Pharma Manufacturers and Health Plans Health systems Specialty practices More than 80 pharmaceutical brands3 Federally Qualified Hospitals
Slide 10: Multiple growth opportunities
Multiple growth opportunities Cross-sell new Grow footprint within Increasing investments to Land new clients applications to existing Partnerships and M&A existing clients drive growth clients • Direct sales model • Additional providers within • Proven ability to • New product and • Opportunistic a
Slide 11: Our current addressable market
Our current addressable market Consumer-related transaction Subscription-based revenue Network solutions and payment processing fees ~50K addressable healthcare services clients1 DTC point-of-care in United States $95B addressable out-of-pocket 3 marketing spend4 2 ~1.4M individual providers : in Un
Slide 12: Financial Overview
Financial Overview 12
Slide 13: Scalable and predictable sources of revenue
Scalable and predictable sources of revenue Revenue model Drivers Q3 FY24 % rev Subscription • New healthcare services clients and related services1 • Includes base package and add-on applications P • Majority of fees charged per provider per month (PPPM) • Expansion within existing clients 47% r •
Slide 14: Nearly tripled quarterly revenue since Q4 fiscal 2020
Nearly tripled quarterly revenue since Q4 fiscal 2020 Quarterly Revenue1 (Q4FY20 - Q3FY242) Subscription and Related Services Network Solutions Payment Processing Fees $92M $86M $84M $77M $73M 2.8x $68M $43M $63M $38M $39M $58M $56M $36M $33M $51M $48M $31M $29M $42M $24M $26M $38M $35M $23M $16M $3
Slide 15: AHSCs
AHSCs AHSCs1 (Q4 FY2020 - Q3 FY20242) 3,688 3,445 3,309 3,140 2,982 2,776 $11.5k 2,526 2,311 $10.4 k 2,097 1,902 1,987 1,737 1,808 1,603 1,632 1,668 $9.0 k $9.3 $9.4 k k $8.1 $8.2 k k Q4’20 Q1’21 Q2’21 Q3’21 Q4’21 Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 FY 2020 FY 2021 FY 2
Slide 16: Total revenue per AHSC (Q4 FY2020 - Q3 FY2024)
TOTAL REVENUE PER AHSC2 (Q4 FY2020 - Q3 FY2024) Subscription and Related Services Network Solutions Payment Processing Fees $26.7K $25.4K $25.7K $25.3K $25.1K $25.1K $24.9K $24.8K $24.4K $24.5K $24.4K $23.1K $22.1K $21.0K $20.5K $20.5K $11.6K $11.5K $11.5K $11.4K $11.4K $11.5K $11.1K $11.4K $11.5K $
Slide 17: Consistent payment volume and transaction-level economics
Consistent payment volume and transaction-level economics Patient Payment Statistics (Q4 FY2020 - Q3 FY20244) $1,016 $989 $965 Take Rate Percentage1 Patient Payment Volume (in millions)2 $837 $821 Payment Facilitator Volume Percentage3 $811 $815 $701 $696 $689 84% $682 82% 82% 80% 80% 80% 81% 81% 82
Slide 18: Fiscal third quarter 2024 results
Fiscal third quarter 2024 results Total Revenue ($M) AHSCs1 Total Revenue Per AHSC2 Adj. EBITDA3 ($M) $327 Network Solutions 24% Healthcare Services 3,688 25% 3,445 $24,515 $24,914 $24,842 $91.6 $85.8 2,982 $73.1 25% $65.8 $62.9 $52.6 $(6.6) $(11.5) 26% $(18.3) $22.9 $25.8 $20.5 Q3 Q2 Q3 Q3 Q2 Q3 Q3
Slide 19: Fiscal year 2023 results
Fiscal year 2023 results Total Revenue ($M) AHSCs1 Total Revenue Per AHSC2 Adj. EBITDA3 ($M) Network Solutions (4)% Healthcare Services 38% $3.8 32% 2,856 $102,812 $280.9 $98,358 $280.9MM $86,895 $213.2 $213.2MM 29% 2,074 1,711 $207.3 $148.7 $148.7MM $160.7 $(59.0) $118.9 40% $73.6 $52.5 $29.7 $(92.
Slide 20: Fiscal year 2024 and fiscal year 2025 outlook
Fiscal year 2024 and fiscal year 2025 outlook FY2024 Outlook FY2025 Outlook $353M to $356M1 $424M to $434M Total Revenue Total Revenue2 +26%-27% y/y $10M to $20M Adj. EBITDA3 Approx. $(39)M $500M 3 Adj. EBITDA annualized4 revenue run rate in FY265 1 Revenue outlook originally issued on March 22, 202
Slide 21: Financial Appendix
Financial Appendix 21
Slide 22: Detailed Income Statement
Detailed Income Statement1 $ and shares in Millions Fiscal year ended Jan 31 Fiscal quarter ended October 31 FY 2022 FY 2023 2023 2024 Revenue: Subscription and related services $ 95.5 $ 129.0 $ 33.0 $ 42.6 Payment processing fees 65.2 78.4 19.6 23.2 Total healthcare services revenue $ 160.7 $ 207.3
Slide 23: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation1 $M Fiscal year ended Jan 31 2019 2020 2021 2022 2023 Net loss $ (15.1) $ (20.3) $ (27.3) $ (118.2) $ (176.1) Interest expense (income), net 3.5 2.4 1.6 1.1 (1.1) (Benefit) Provision for income taxes — (1.8) — 0.2 0.5 Depreciation and amortization 11.6 13.9 15.9 21.3 2
Slide 24: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation1 $M Fiscal quarter ended October 31, July 31, October 31, 2022 2023 2023 Net loss $ (40.2) $ (36.8) $ (31.9) Interest expense, net (0.1) (0.8) (0.5) Provision for income taxes 0.2 0.6 0.4 Depreciation and amortization 6.7 6.8 7.5 Stock-based compensation expense 14.8 1