Phreesia, Inc. Reports Net Loss of $37.5 Million for the First Quarter of 2023

Phreesia, Inc., (PHR) a leading provider of patient intake and engagement solutions, announced its financial results for the first quarter of 2023. The company reported a net loss of $37.5 million for the quarter. However, Phreesia achieved a significant milestone with revenue of $83.8 million, demonstrating strong growth and customer demand for its innovative healthcare technology.

Net Loss and Expenses

During the first quarter of 2023, Phreesia incurred a net loss of $37.5 million, compared to a net loss of $51.2 million in the same period last year. The company has been investing in its growth initiatives, including research and development, sales and marketing, and general administrative expenses. Total expenses for the quarter amounted to $121.7 million.

Revenue Growth