Slide 1: Investor Presentation
Investor Presentation December 2022
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 state
Slide 3: Our mission
Our mission To create a better, more engaging healthcare experience 3
Slide 4: Phreesia Patient Intake: who we are, what we do, how we do it
2 0 1 9 >2,900 healthcare P h r isisPatient PatientIntake Intake services clients1,2 e e s i >$3.1B a patient payments C processed latest twelve o months2,3 n f Who we are: Leading provider of comprehensive solutions that transform the i healthcare experience by engaging patients in their care $262M
Slide 5: Attractive industry tailwinds
Attractive industry tailwinds Staffing Increasing patient Accelerated Changing care Patient-centered challenges responsibility digitization models care • 1.2M intake staff • $586B out-of-pocket • Consumer demand • Providers incentivized • Need to directly represent $37B in spend by 20272 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 100M 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 NETWORKCONNECT Mobile and in-office Patient and member education and Appointment reminders Point-of-service payments intake modalities engagement Integrated patient
Slide 9: Used by all types of healthcare provider and life sciences organizations
Used by all types of healthcare provider and life sciences organizations Life Sciences and Providers Payer Organizations Independent Hospitals and Pharma Physician Groups Health Systems Manufacturers and Health Plans • More than 70 pharmaceutical brands2 • Eight of the top 10 global pharma companies
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 • Proven ability to • New product and • Opportunistic approach
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 $93B addressable out-of-pocket 3 marketing spend4 2 ~1.3M individual providers: in Uni
Slide 12: Financial Overview
Financial Overview 12
Slide 13: Scalable and predictable sources of revenue
Scalable and predictable sources of revenue Revenue model Drivers FY22 % 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 45% r • New
Slide 14: More than tripled quarterly revenue since fiscal 2019
More than tripled quarterly revenue since fiscal 2019 Quarterly Revenue1 (FY2019-FY20232) 3 Subscription and Related Services Payment Processing Fees Network Solutions $73M $68M 3.1x $63M $58M $56M $33M $51M $48M $31M $29M $42M $24M $26M $38M $23M $35M $22M $33M $33M $33M $16M $31M $19M $28M $17M $2
Slide 15: Healthcare services clients and subscription revenue
Healthcare services clients and subscription revenue Average Number of Healthcare Services Clients (FY2019-FY20231) 2,982 2,776 2,526 $11.5k 2,311 $10.4 k 2,097 1,987 1,902 1,808 1,737 $9.0 1,573 1,603 1,632$9.4 1,668 1,503 1,543 1,549 1,558 k $9.3 k 1,450 1,463 $8.2 k $8.1 k k $11.5k $11.5k $11.6k
Slide 16: Consistent payment volume and transaction-level economics
Consistent payment volume and transaction-level economics Patient Payment Volume (FY2019-FY20231) $837 $811 $815 $701 $696 $689 $682 84% 83% 83% 83% 83% 84% 82% 82% 82% 82% 81% 80% $552 $524 79% 79% 79% 80% 80% 78% 78% $464 $477 $466 $461 $463 $454 $360 $358 $358 $370 3.06% 3.09% 3.09% 3.08% 3.02% 3
Slide 17: Fiscal third quarter 2023 results
Fiscal third quarter 2023 results Total Revenue ($M) Avg. Number of Healthcare Avg. Revenue Per Healthcare Adj. EBITDA4 ($M) Services Clients2 Services Client3 1 Network Solutions 42% (9)% Healthcare Services 31% $73.1 2,982 $67.9 2,776 $19,299 $18,248 $17,645 $55.9 30% 2,097 $52.6 $50.7 $40.5 33% $
Slide 18: Fiscal year 2022 results
Fiscal year 2022 results Total Revenue ($M) Avg. Number of Healthcare Avg. Revenue Per Healthcare Adj. EBITDA4 ($M) Services Clients2 Services Client3 1 11% Network Solutions Healthcare Services 21% $77,478 43% $69,499 $213.2 $213.2MM $65,486 2,074 1,711 $148.7MM 35% 1,571 $148.7 $4.8 $3.8 $124.8 $1
Slide 19: Fiscal year 2023 outlook and fiscal year 2025 target
Fiscal year 2023 outlook and fiscal year 2025 target FY2023 Q3 Results FY2023 Outlook1 FY2025 Target2 Approximately $73.1M $278M Total Revenue Total Revenue +31% y/y +30% y/y $500.0M Annualized4 Revenue Approximately $(18.3)M $(95)M Adj. EBITDA5 Adj. EBITDA3 1 Outlook issued on December 8, 2022. 2 T
Slide 20: Financial Appendix
Financial Appendix 20
Slide 21: Detailed Income Statement
Detailed Income Statement1 $ and shares in Millions Fiscal year ended Jan 31 Fiscal quarter ended October 31 2021 2022 2021 2022 Revenue: Subscription and related services $ 69.0 $ 95.5 $ 24.4 $ 33.0 Payment processing fees 49.9 65.2 16.1 19.6 Total healthcare services revenues $ 118.9 $ 160.7 $ 40.
Slide 22: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation1 $M Fiscal year ended Jan 31 2019 2020 2021 2022 Net Loss $ (15.1) $ (20.3) $ (27.3) $ (118.2) Interest expense (income), net 3.5 2.4 1.6 1.1 Provision for income taxes — (1.8) — 0.2 Depreciation and amortization 11.6 13.9 15.9 21.3 Stock-based compensation expense 1.4
Slide 23: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation1 $M Fiscal quarter ended October 31, July 31, October 31, 2021 2022 2022 Net Loss $ (36.3) $ (46.7) $ (40.2) Interest expense (income), net 0.3 0.2 (0.1) Provision for income taxes 0.2 0.2 0.2 Depreciation and amortization 5.2 5.8 6.7 Stock-based compensation expense 1