Phreesia Lowers FY25 Revenue From $424M-$434M To $416M-$426M Vs $427.87M Est.
Portfolio Pulse from Benzinga Newsdesk
Phreesia has revised its fiscal year 2025 revenue outlook to $416M-$426M from $424M-$434M, citing the accelerated wind-down of a clearinghouse client relationship. Adjusted EBITDA outlook has been updated to $21M-$26M from $12M-$20M. The company believes its cash reserves and credit facility provide sufficient flexibility for future growth.
May 30, 2024 | 8:17 pm
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Phreesia has lowered its FY25 revenue outlook to $416M-$426M from $424M-$434M due to the accelerated wind-down of a clearinghouse client relationship. Adjusted EBITDA outlook has been raised to $21M-$26M from $12M-$20M. The company believes its cash reserves and credit facility provide sufficient flexibility for future growth.
The reduction in revenue outlook is likely to negatively impact investor sentiment in the short term. However, the increase in Adjusted EBITDA outlook and the company's strong cash reserves and credit facility may mitigate some of the negative impact.
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