Healthcare technology company Phreesia (NYSE:PHR) will be reporting results tomorrow after market hours. Here’s what investors should know.
Phreesia beat analysts’ revenue expectations by 0.7% last quarter, reporting revenues of $109.7 million, up 15.4% year on year. It was a strong quarter for the company, with a solid beat of analysts’ EPS estimates and full-year EBITDA guidance topping analysts’ expectations. It added 104 customers to reach a total of 4,341.
Is Phreesia a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Phreesia’s revenue to grow 13.8% year on year to $115.2 million, slowing from the 20.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.16 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Phreesia has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 1.2% on average.
Looking at Phreesia’s peers in the healthcare technology for providers segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Premier’s revenues decreased 8.9% year on year, beating analysts’ expectations by 7.4%, and Privia Health reported revenues up 15.6%, topping estimates by 6.5%. Premier traded up 12.4% following the results while Privia Health was also up 7.2%.
Read our full analysis of Premier’s results here and Privia Health’s results here.
Investors in the healthcare technology for providers segment have had fairly steady hands going into earnings, with share prices down 1.3% on average over the last month. Phreesia’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $31.77 (compared to the current share price of $24.40).
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