Slide 1: Investor Presentation
Investor Presentation September 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 activate patients to improve health and healthcare outcomes 3
Slide 4: Who we are, what we do, how we do it
>3,400 Average isisPatient PatientIntake Intake healthcare services clients (“AHSCs”)1,2 >$3.6B patient payments Who we are: A trusted leader in patient activation, giving providers, health processed latest twelve plans, life sciences companies and other organizations tools to help patients months3,
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 Life Sciences and Providers Payer Organizations Independent Hospitals and Pharma Physician Groups Health Systems Manufacturers and Health Plans • More than 80 pharmaceutical brands3 • Nine of the top 10 global pharma companies4
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-pocket3 marketing spend4 ~1.4M individual providers2: in Unite
Slide 12: Financial Overview
Financial Overview 12
Slide 13: Scalable and predictable sources of revenue
Scalable and predictable sources of revenue Revenue model Drivers Q2 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 45% r •
Slide 14: More than tripled quarterly revenue since fiscal 2019
More than tripled quarterly revenue since fiscal 2019 Quarterly Revenue1 (FY2019-FY20242) 3.6x $16M $9M $9M $9M $9M $12M $15M $15M $12M FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 1 Revenue may not add up due to rounding 2 Fiscal year ended January 31; FY2024 only includes Q1’24 and Q2’24 14
Slide 15: AHSCs
AHSCs AHSCs1 (FY2019-FY20242) $11.5 k $10.4 k $9.0 k $9.3 $9.4 k k $8.1 $8.2 k k FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 1 We define AHSCs as the average number of clients that generate subscription and related services or payment processing revenue each month during the applicable period. I
Slide 16: Total revenue per AHSC (FY2019-FY2024)
TOTAL REVENUE PER AHSC2 (FY2019-FY2024) $16M $9M $9M $9M $9M $12M $15M $15M $12M FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 1 Revenue may not add up due to rounding 2 Refer to previous slide for definition of AHSC. We define Total revenue per AHSC as Total revenue in a given period divided by A
Slide 17: Consistent payment volume and transaction-level economics
Consistent payment volume and transaction-level economics Patient Payment Statistics (FY2019-FY20244) Take Rate Percentage1 Patient Payment Volume (in millions)2 Payment Facilitator Volume Percentage3 1 Take rate percentage is defined as: payment processing fees / (patient payment volume x payment f
Slide 18: Fiscal second quarter 2024 results
Fiscal second quarter 2024 results Total Revenue ($M) AHSCs1 Total Revenue Per AHSC2 Adj. EBITDA3 ($M) $466 24% 26% $83.8 $85.8 $67.9 24% 33% 1 We define AHSCs as the average number of healthcare services client organizations that generate subscription and related services or payment processing reve
Slide 19: Fiscal year 2023 results
Fiscal year 2023 results Total Revenue ($M) AHSCs1 Total Revenue Per AHSC2 Adj. EBITDA3 ($M) (4)% 38% 32% $280.9 $213.2 29% $148.7 40% 1 We define AHSCs as the average number of healthcare services client organizations that generate subscription and related services or payment processing revenue eac
Slide 20: Fiscal year 2024 outlook and fiscal year 2025 target
Fiscal year 2024 outlook and fiscal year 2025 target FY2024 Outlook FY2025 Target2 1 $353M to $356M Total Revenue +26%-27% y/y $500M Annualized4 Revenue $(54)M to $(49)M Adj. EBITDA3 1 Revenue outlook originally issued on March 22, 2023 and reaffirmed on September 6, 2023. 2 Target originally issued
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 July 31 FY 2022 FY 2023 Q2 2023 Q2 2024 Revenue: Subscription and related services $ 95.5 $ 129.0 $ 31.1 $ 39.3 Payment processing fees 65.2 78.4 19.6 23.6 Total healthcare services revenue $ 160.7 $ 20
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 July 31, April 30, July 31, 2022 2023 2023 Net loss $ (46.7) $ (37.5) $ (36.8) Interest (income) expense, net 0.2 (0.7) (0.8) Provision for income taxes 0.2 0.3 0.6 Depreciation and amortization 5.8 7.0 6.8 Stock-based compensation expense 14.6