Phreesia (PHR)
Runs the digital check-in and payment kiosk that replaced the clinic waiting-room clipboard.
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Builds and sells a subscription software platform that manages patient check-in, scheduling and payments for healthcare providers, while a second business line sells life sciences companies access to patients through the same check-in flow. Operates as an all-remote company with staff spread across the United States rather than a central office.
Founded in 2005, the company replaced the paper clipboard in doctors' waiting rooms with a self-service check-in kiosk, then grew into a software platform covering patient intake, scheduling and payments for healthcare provider organizations.
Providers pay subscription and processing fees for registration, insurance checks and copay collection; life sciences companies pay to reach patients with targeted outreach delivered through the same check-in flow, a channel reported as Network Solutions. Growth since has come through acquisition — scheduling, specialist search, hospital e-forms and, in 2025, healthcare payment financing.
The company operates without a physical office, with staff distributed across the United States and only a mailing address in Delaware on file. A 2024 breach at an acquired after-hours communication service and an active securities class action over Network Solutions growth claims are the two open matters shaping its current legal exposure.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 8, 2026 | Raymond James | Downgrade | ||
| Sep 4, 2026 | DA Davidson | Reiterate | Rating: —Target: $14 | Target: $13 |
| Sep 4, 2026 | Robert W. Baird | Target | Target: $25 | Target: $11 |
| Sep 3, 2026 | Wells Fargo | Reiterate | Rating: —Target: $9 | Target: $10 |
| May 28, 2026 | Piper Sandler | Target | Target: $30 | Target: $12 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jul 31, 2026Cash & short-term investments $72.9M · Total debt $67.9M · Total assets $647.0M · Shareholders' equity $371.9M
- Revenue
- $129.5M
- Operating income
- $11.1M
- Net income
- $1.9M
No dividends on record.
| Institutions | 94.76% | 58.82M shares | |
|---|---|---|---|
| 237 holders · as of Jun 30, 2026 | |||
| Insiders | 6.20% | 3.85M shares | |
| 14 holders · as of Sep 16, 2026 | |||
| Strategic holders | 19.32% | 11.99M shares | |
| 2 holders · as of Apr 2, 2026 | |||
| Adds to | 120.28% | ||
62.07M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 120.28%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Pale Fire Capital SEInstitution | 14.38% | 8.92M | as of Jun 30, 2026 |
Pale Fire Capital SICAV a.s.Strategic | 14.38% | 8.92M | filed Apr 2, 2026 |
T. Rowe Price Associates, Inc.Institution | 12.56% | 7.80M | filed Feb 14, 2022 |
BlackRock, Inc.Institution | 11.31% | 7.02M | as of Jun 30, 2026 |
AQR Capital Management LLCInstitution | 5.08% | 3.15M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 16, 2026 | Yvonne Hui | officer: Principal Accounting Officer | −1,247 | $10.92 |
| Jul 14, 2026 | Lisa Egbuonu-Davis | director | −536 | $10.70 |
| Jul 6, 2026 | Yvonne Hui | officer: Principal Accounting Officer | −1,371 | $10.84 |
| Jun 25, 2026 | Lisa Egbuonu-Davis | director | −2,546 | $9.53 |
| May 18, 2026 | Yvonne Hui | officer: Principal Accounting Officer | −431 | $8.85 |
- OptimizeRx
Direct contest for point-of-care pharma marketing to patients and HCPs
- Waystar
Head-to-head on patient payments and revenue-cycle across health systems
- Weave Communications
Contests front-office intake, comms and payments for SMB practices
- Doximity
HCP-side pharma marketing draws the same life-sciences budgets
- EverCommerce
EverHealth's DrChrono and Updox contest EHR-adjacent intake and comms
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Phreesia | $10.10 | +0.65% | $620.0M | 59.3 | 17.3 | 1.2 | +10.4% |
| OptimizeRx | $7.59 | +0.40% | $141.9M | 32.4 | 8.4 | 1.4 | −29.8% |
| Waystar | $25.55 | −0.64% | $4.93B | 36.7 | 14.7 | 4.1 | +18.1% |
| Weave Communications | $7.35 | +0.34% | $582.4M | — | 37.7 | 2.3 | +15.5% |
| Doximity | $26.67 | −0.63% | $5.02B | 31.6 | 19.1 | 7.7 | +7.3% |
| EverCommerce | $7.98 | −3.27% | $1.46B | 44.9 | 10.9 | 2.4 | +2.7% |
| Median | 34.5 | 14.7 | 2.4 | +7.3% |