Slide 1: Investor Presentation September 2022
Investor Presentation September 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 is Patient Intake
>2,700 healthcare is Patient Intake services clients1,2 >$3.0B patient payments processed latest twelve months2,3 Who we are: Leading provider of comprehensive solutions that transform the healthcare experience by engaging patients in their care $245M total revenue for latest What we do: Enable heal
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- • Consumer demand • Providers • Need to directly represent $37B in pocket spend by for information with incentiv
Slide 6: Our Value Proposition and How We Make Money
OUR VALUE PROPOSITION AND HOW WE MAKE MONEY Healthcare Services Orgs Patients Life Sciences Companies • Simplified operations and • Improved patient experience • Targeted, direct digital marketing Value proposition enhanced staff efficiency • High patient usage • Improved brand conversion and • Impr
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 Hea
Slide 8: The Phreesia Platform
THE PHREESIA PLATFORM Innovative software to improve efficiency, cash flow and the patient experience A CCESS R EGISTR ATION RE V E N U E CYCL E CL IN ICA L S U PPORT Mobile and in-office Appointment reminders Point-of-service payments COVID-19 support modules intake modalities Self-service Integrat
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 Independent Hospitals and Pharma Physician Groups Health Systems Manufacturers • More than 70 brands2 • Eight of the top 10 global pharma companies2 Serving more than 2,700 healthcare services clients1 1
Slide 10: Multiple Growth Opportunities
MULTIPLE GROWTH OPPORTUNITIES Grow footprint Cross-sell new Increasing Land new Partnerships and within existing applications to investments to clients M&A clients existing clients drive growth • Direct sales model • Additional providers • Proven ability to • New product and • Opportunistic • Focus
Slide 11: Our Current Addressable Market
OUR CURRENT ADDRESSABLE MARKET Consumer-related transaction Subscription-based revenue Life Sciences and payment processing fees ~50K addressable healthcare services clients1 in United States $93B addressable out-of-pocket3 DTC point-of-care ~1.3M individual providers:2 in United States marketing sp
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 and related • New healthcare services clients services1 • Includes base package and add-on applications • Majority of fees charged per provider per month (PPPM) • Expansion within existing clients 45% • New pro
Slide 14: More Than Doubled Quarterly Revenue Since Fiscal 2019
MORE THAN DOUBLED QUARTERLY REVENUE SINCE FISCAL 2019 Quarterly Revenue1 (FY2019-FY20232) $68M Subscription and Related services $63M Payment Processing Fees Life Sciences $58M $56M 2.8x $48M $51M $31M $29M $26M $42M $24M $38M $23M $22M $35M $33M $33M $33M $31M $19M $28M $17M $26M $20M $24M $25M $25
Slide 15: Accelerating Healthcare Services Client and Subscription Market Share
ACCELERATING HEALTHCARE SERVICES CLIENT AND SUBSCRIPTION MARKET SHARE Average Number of Healthcare Services Clients (FY2019-FY20231) 2,776 2 Avg. Subscription and Related Revenue per Healthcare Services Client 2,526 Avg. Number of Healthcare Services Clients 3 2,311 2,097 1,987 1,902 $11.5k $11.5k $
Slide 16: Consistent Payment Volume and Transaction-Level Economics
CONSISTENT PAYMENT VOLUME AND TRANSACTION-LEVEL ECONOMICS Patient Payment Volume (FY2019-FY20231) $837 $811 Take Rate Percentage 2 3 Patient Payment Volume (in millions) 4 $701 $696 Payment Facilitator Volume Percentage $682 $689 84% 83% 82% 83% 84% 83% 83% 82% 82% 82% 80% 80% 80% 79% 78% 78% 79% 79
Slide 17: Fiscal Second Quarter 2023 Results
FISCAL FIRST QUARTER 2023 RESULTS Avg. Number of Healthcare Avg. Revenue Per Healthcare Total Revenue ($M) Adj. EBITDA3 ($M) Services Clients1 Services Client2 Healthcare Services Life Sciences +33% +40% -7% $67.9 2,776 $19,720 $63.4 $19,193 2,526 $18,248 $51.0 +29% 1,987 $50.7 $48.5 $39.2 +46% ($11
Slide 18: Fiscal Year 2022 Results
FISCAL YEAR 2022 RESULTS Avg. Number of Healthcare Avg. Revenue Per Healthcare Total Revenue ($M) Adj. EBITDA3 ($M) Services Clients1 Services Client2 Healthcare Services Life Sciences +43% +21% +11% $213.2 2,074 $77,478 1,711 $69,499 $148.7 +35% 1,571 $65,486 $124.8 $160.7 $118.9 $4.8 $3.8 $102.9 +
Slide 19: Fiscal Year 2023 Outlook and Fiscal Year 2025 Target
FISCAL YEAR 2023 OUTLOOK AND FISCAL YEAR 2025 TARGET FY2023 Q2 Results FY2023 Outlook1 FY2025 Target2 $67.9M $273M to $275M Total Revenue Total Revenue +33% y/y +28-29% y/y $500.0M Annualized4 Revenue -$26.0M -$109M to -$106M Adj. EBITDA5 Adj. EBITDA3 1 Outlook issued on September 7, 2022. 2 Targets
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 July 31 2021 2022 2021 2022 Revenue: Subscription and related services $69.0 $95.5 $22.9 $31.1 Payment processing fees 49.9 65.2 16.3 19.6 Total healthcare services revenues $118.9 $160.7 $39.2 $50.7 %
Slide 22: Adjusted EBITDA Reconciliation
ADJUSTED EBITDA RECONCILIATION1 $M Fiscal year ended Jan 31 Fiscal quarter ended July 31 2021 2022 2021 2022 Net Loss ($27.3) ($118.2) ($24.4) ($46.7) Interest expense (income), net 1.6 1.1 0.2 0.2 Provision for income taxes 0.0 0.2 0.3 0.2 Depreciation and amortization 15.9 21.3 5.3 5.8 Stock-based