Phreesia, Inc. provides an integrated SaaS-based software and payment platform for the healthcare industry in the United States and Canada. Its solutions include appointment optimization and referral management using AI-enabled workflows, AI-based smart answering and patient communications supported by voice and messaging, integrated payment solutions embedded in intake and post-visit workflows, and financing solutions that help healthcare organizations accelerate cash collections while offering flexible payment options to patients. It also offers digital intake and clinical data capture, patient engagement and activation tools, measurement and analytics solutions, PhreesiaPads self-service intake tablets, and Arrivals Kiosks on-site kiosks. The company serves ambulatory practices, health systems, hospitals, life sciences companies, government entities, patient advocacy, public interest and not-for-profit and other organizations. Phreesia, Inc. was incorporated in 2005 and is based in Wilmington, Delaware.
Phreesia Faces Securities Fraud Lawsuits Over Slashed Guidance
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Securities fraud class action Multiple law firms filed a class action alleging Phreesia misled investors about growth and demand before cutting fiscal 2027 revenue guidance. This legal risk can pressure PHR's stock by raising uncertainty and potential costs.
The lawsuit is the main new event this period and directly weighs on investor confidence.
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Lead plaintiff deadline pressure Investors have until July 13, 2026 to seek lead plaintiff status in the class action. The approaching deadline keeps the lawsuit in the news, which can sustain negative sentiment and deter buyers.
The deadline is a new near-term catalyst that keeps legal overhang visible.
Q2 2026
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Phreesia Faces Securities Fraud Lawsuits Over Slashed Guidance
▼
Securities fraud class action Multiple law firms filed a class action alleging Phreesia misled investors about growth and demand before cutting fiscal 2027 revenue guidance. This legal risk can pressure PHR's stock by raising uncertainty and potential costs.
The lawsuit is the main new event this period and directly weighs on investor confidence.
▼
Lead plaintiff deadline pressure Investors have until July 13, 2026 to seek lead plaintiff status in the class action. The approaching deadline keeps the lawsuit in the news, which can sustain negative sentiment and deter buyers.
The deadline is a new near-term catalyst that keeps legal overhang visible.
News & notes movingPHR
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PHR
Phreesia Posts $129.5 Million Quarter, Flags Client Strain
Phreesia reported second-quarter fiscal 2027 results for the period ended July 31, with revenue climbing to $129.5 million and adjusted EBITDA surging to $32.9 million. The healthcare technology company posted its fifth straight quarter of positive net income and its ninth straight quarter of positive operating cash flow, as revenue rose 10% year over year and average healthcare services clients reached 4,744, up 6%, with total revenue per client climbing 4% to $27,289. Adjusted EBITDA jumped $10.8 million year over year, pushing margin to 25%, while net income hit $1.9 million, operating cash flow reached $18.3 million and free cash flow $13.8 million. That cash, combined with existing reserves, let Phreesia retire more than $23 million in debt principal during the quarter, and management pointed to a May restructuring plan that eliminated 220 positions, about half of them contractor roles, at an estimated total cost of $10 million, of which $2.8 million was recognized this quarter. CFO Balaji Gandhi warned there is now more variability in network solutions revenue forecasting, particularly in the second half of each fiscal year, and CEO Chaim Indig described healthcare providers as under a significant amount of strain, with total revenue per client falling about 2% sequentially and total revenue dipping roughly 1% from the first quarter. Phreesia reaffirmed its $510 million to $520 million revenue outlook and its $125 million to $135 million adjusted EBITDA outlook for fiscal 2027.
PHR · Capital · Neutral Q2 FY2027 revenue $129.5M, adjusted EBITDA $32.9M, fifth straight positive net income, debt paydown and reaffirmed guidance, but CFO flags network-solutions revenue variability and CEO cites client strain with revenue per client down 2% sequentially.
Phreesia Q2 Revenue Misses Estimates, EPS Falls Short
Phreesia reported second-quarter revenue of $129.46 million, up 10.4% year over year, but slightly below the Zacks Consensus Estimate of $129.63 million, while EPS of $0.03 missed the consensus estimate of $0.11. Among key metrics, average healthcare services clients came in at 4,744 versus the estimated 4,747, and total managed payments reached $1.63 billion against the $1.76 billion estimate. Subscription and related services revenue fell 1.9% to $52.7 million, slightly below the $52.98 million estimate, while network solutions revenue of $38.27 million beat the $35.58 million estimate, and payment solutions revenue of $38.49 million missed the $40.46 million estimate. Shares have gained 3.5% over the past month, outperforming the S&P 500's 2% rise, and the stock holds a Zacks Rank #3 (Hold).
Bernstein Liebhard Investigates Phreesia Directors and Officers for Potential Fiduciary Duty Breaches
Bernstein Liebhard LLP announced an investigation into potential breaches of fiduciary duty by certain directors and officers of Phreesia, Inc. The investigation seeks to determine whether the company’s leadership fulfilled its obligations to shareholders and whether legal remedies may be available. Current Phreesia shareholders who purchased shares before May 8, 2025 are encouraged to contact the firm to discuss their legal rights. Bernstein Liebhard has recovered more than $3.5 billion for clients since 1993 and has been recognized on The National Law Journal’s “Plaintiffs’ Hot List” thirteen times.
MediFind Launches AI Chatbot Chloe to Help Patients Find and Book Providers
MediFind, a data-powered online provider directory owned by Phreesia, has launched Chloe, an AI-powered chatbot designed to guide patients through finding and booking the right healthcare provider. Chloe captures patient information such as care needs, location, insurance, and preferences, then surfaces tailored matches from MediFind's database of more than 2 million clinicians. Patients can review profiles, compare options, and request appointments directly through the platform. The tool aims to reduce incorrect bookings and search abandonment, particularly for those with complex, chronic, or rare conditions. Phreesia acquired MediFind in July 2023.
Investor deadline approaching for securities fraud class actions against Phreesia, Sportradar, Commvault, and Veritone
The Law Offices of Howard G. Smith reminds investors that class action lawsuits have been filed on behalf of shareholders of Phreesia, Sportradar Group, Commvault Systems, and Veritone, with lead plaintiff deadlines between July 13 and July 20, 2026. The Phreesia complaint alleges the company misled investors about its long-term growth outlook and revenue projections for fiscal year 2027, while the Sportradar suit claims the company worked with black-market gambling operators despite assurances of compliance. Commvault is accused of failing to disclose the impact of different sale types on annual recurring revenue growth, and Veritone allegedly overstated revenue and assets due to misclassified revenue and costs, leading to a restatement. Investors who suffered losses may contact the law firm to discuss their legal rights.
Rosen Law Firm reminds Phreesia investors of July 13 lead plaintiff deadline
Rosen Law Firm reminds purchasers of Phreesia common stock during the class period from May 8, 2025 to March 30, 2026 that today, July 13, 2026, is the lead plaintiff deadline in a securities class action. If you purchased Phreesia common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The lawsuit alleges that defendants made false or misleading statements and concealed adverse facts about slowing demand and reduced visibility in key revenue streams, particularly weakened pharmaceutical marketing commitments in its Network Solutions segment. Investors with losses in excess of $100,000 are encouraged to secure counsel before the deadline.
Frank R. Cruz Law Offices Reminds Investors of Class Action Deadlines for PHR, SRAD, CVLT, and VERI
The Law Offices of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders of Phreesia, Sportradar Group, Commvault Systems, and Veritone. For Phreesia, the class period is May 8, 2025 through March 30, 2026, with a lead plaintiff deadline of July 13, 2026; the complaint alleges the company created a false impression about its long-term growth outlook and revenue projections. Sportradar's class period runs from November 7, 2024 to April 21, 2026, with a July 17, 2026 deadline, and the suit claims the company worked with black-market gambling operators despite assurances of compliance. Commvault Systems faces a class period of April 29, 2025 to January 26, 2026, also with a July 17, 2026 deadline, over allegations it failed to disclose the impact of different sales types on annual recurring revenue growth. Veritone's class period is October 14, 2025 through April 14, 2026, with a July 20, 2026 deadline, and the complaint alleges the company misclassified revenue and costs, overstated financials, and maintained deficient internal controls.
Bronstein, Gewirtz & Grossman LLC Files Class Action Against Phreesia Alleging Investor Harm
Bronstein, Gewirtz & Grossman LLC has filed a class action lawsuit against Phreesia and certain officers, alleging violations of federal securities laws. The suit covers investors who purchased or acquired Phreesia securities between May 8, 2025 and March 30, 2026. The complaint claims the company made false and misleading statements and failed to disclose slowing demand, diminished visibility into key revenue streams, and weakened pharmaceutical marketing commitments in its Network Solutions segment. Investors have until July 13, 2026 to seek lead plaintiff appointment. The law firm represents investors on a contingency fee basis.
Rosen Law Firm reminds Phreesia investors of July 13 lead plaintiff deadline
Rosen Law Firm reminds purchasers of Phreesia common stock between May 8, 2025 and March 30, 2026 of the July 13, 2026 lead plaintiff deadline in a securities class action. If you purchased Phreesia common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The lawsuit alleges that defendants made false or misleading statements and concealed material adverse facts about Phreesia's slowing demand and reduced visibility in key revenue streams, notably weakened pharmaceutical marketing commitments in its Network Solutions segment. Investors who wish to serve as lead plaintiff must move the Court no later than July 13, 2026.
Bernstein Liebhard Investigating Phreesia Directors and Officers for Fiduciary Breaches
Bernstein Liebhard LLP has launched an investigation into whether certain directors and officers of Phreesia, Inc. breached their fiduciary duties. The law firm is focusing on shareholders who purchased Phreesia stock prior to May 8, 2025. Current Phreesia shareholders are encouraged to contact Investor Relations Manager Peter Allocco to discuss their legal rights and options. Bernstein Liebhard, a nationally recognized investor rights firm, has recovered over $3.5 billion for clients since 1993.
Phreesia Investors Have Opportunity to Lead Securities Fraud Lawsuit
The Schall Law Firm reminds investors of a class action lawsuit against Phreesia, Inc. for alleged securities fraud. The lawsuit covers investors who purchased Phreesia securities between May 8, 2025 and March 30, 2026, with a lead plaintiff deadline of July 13, 2026. The complaint alleges the company made false and misleading statements about its long-term growth outlook and fiscal year 2027 projections, particularly regarding pharmaceutical marketing commitments as a growth driver for its Network Solutions segment. When the market learned the truth, investors suffered damages.
Pomerantz Law Firm Reminds Phreesia Investors of Class Action Lawsuit and July 13 Deadline
Pomerantz LLP has filed a class action lawsuit against Phreesia, Inc. concerning potential securities fraud or unlawful business practices. Investors who purchased or acquired Phreesia securities during the class period have until July 13, 2026 to seek appointment as lead plaintiff. The lawsuit follows Phreesia's March 30, 2026 announcement of significantly reduced revenue growth projections for fiscal year 2027, citing worsening visibility and weaker pharmaceutical marketing commitments. On this news, Phreesia's stock price fell $3.03 per share, or 26.56%, to close at $8.38 per share on March 31, 2026.
PHR · Capital · Negative Phreesia announced reduced revenue growth projections, causing a 26.56% stock drop, and faces a securities class action lawsuit.
Holzer & Holzer Reminds Phreesia Investors of July 13 Lead Plaintiff Deadline
Holzer & Holzer, LLC reminds investors of the July 13, 2026 deadline to seek lead plaintiff appointment in a securities class action against Phreesia, Inc. The lawsuit alleges that Phreesia made false and misleading statements and failed to disclose material adverse facts about its long-term growth outlook by minimizing risks from slowing growth in its Network Solutions segment. The class period runs from May 8, 2025 to March 30, 2026. Investors who purchased Phreesia shares during that period and suffered losses may contact the firm for more information.
Bronstein, Gewirtz & Grossman LLC Files Class Action Against Phreesia Alleging Investor Harm
Bronstein, Gewirtz & Grossman LLC has filed a class action lawsuit against Phreesia and certain officers, alleging violations of federal securities laws. The suit covers investors who purchased or acquired Phreesia securities between May 8, 2025 and March 30, 2026. The complaint claims the company made false and misleading statements and failed to disclose slowing demand, diminished revenue visibility, and weakened pharmaceutical marketing commitments in its Network Solutions segment. Investors have until July 13, 2026 to seek lead plaintiff appointment. The law firm is handling the case on a contingency fee basis.
רוזן קורא למשקיעי Phreesia להגיש תביעה ייצוגית עד 13 ביולי
משרד רוזן עורכי דין מזכיר למשקיעי Phreesia, Inc. כי המועד האחרון להגשת תביעה ייצוגית בניירות ערך הוא 13 ביולי 2026. התביעה מתייחסת לרוכשי מניות רגילות של החברה בין 8 במאי 2025 ל-30 במרץ 2026, וטוענת כי הנתבעים הסתירו מידע שלילי מהותי בנוגע לירידה בביקוש ובשקיפות במקורות הכנסה מרכזיים, בפרט התחייבויות שיווק תרופות מוחלשות במגזר פתרונות הרשת. משרד רוזן, המתמחה בתביעות ייצוגיות בניירות ערך, מדגיש את ניסיונו בהשגת הסדרים גדולים והחזרת מאות מיליוני דולרים למשקיעים. משקיעים המעוניינים להצטרף לתביעה או לשמש כתובע מרכזי יכולים לפנות למשרד דרך אתר האינטרנט או בטלפון.
Bragar Eagel & Squire Reminds Phreesia Investors of July 13 Lead Plaintiff Deadline
Bragar Eagel & Squire, P.C. reminds investors that a class action lawsuit has been filed against Phreesia, Inc. and the lead plaintiff deadline is July 13, 2026. The lawsuit covers purchasers of Phreesia common stock between May 8, 2025 and March 30, 2026. The complaint alleges the company made false or misleading statements and failed to disclose slowing demand and reduced visibility in key revenue streams, particularly weakened pharmaceutical marketing commitments in its Network Solutions segment. On March 30, 2026, Phreesia reduced its fiscal 2027 revenue guidance to $510 million to $520 million, down $35 million to $49 million from the prior range, citing those factors, and the stock fell 21 to 28 percent on the revised outlook. Investors who suffered losses can contact the firm to discuss their legal rights.
PHR · Demand · Negative Class action lawsuit alleges Phreesia failed to disclose slowing demand and reduced visibility in key revenue streams, particularly weakened pharmaceutical marketing commitments, leading to lowered guidance and stock drop.
Holzer & Holzer Announces Lead Plaintiff Deadlines for GPK, IMMP, and PHR Class Actions
Holzer & Holzer reminds investors of upcoming deadlines to seek lead plaintiff appointment in shareholder class action lawsuits against Graphic Packaging Holding Company, Immutep Limited, and Phreesia. The Graphic Packaging suit, with a July 6, 2026 deadline, concerns alleged misstatements about inventory management between February 4, 2025 and February 2, 2026. The Immutep case, also with a July 6 deadline, involves claims regarding the TACTI-004 trial status and prospects from March 24, 2025 to March 12, 2026. The Phreesia action has a July 13, 2026 deadline and alleges false statements about long-term growth outlook between May 8, 2025 and March 30, 2026. Investors who purchased shares during the respective periods and suffered losses are encouraged to contact the firm.
Phreesia investors face July 13 deadline to seek lead plaintiff role in securities fraud lawsuit
Glancy Prongay Wolke & Rotter LLP reminds Phreesia Inc. shareholders of a July 13, 2026 deadline to move for lead plaintiff in a class action covering purchases of Phreesia common stock between May 8, 2025 and March 30, 2026. The suit follows a March 30, 2026 after-hours announcement in which Phreesia sharply lowered its fiscal 2027 revenue growth projections, citing worsening visibility and weaker pharmaceutical marketing commitments in its Network Solutions segment. On March 31, 2026, the stock fell $3.03, or 26.6%, to close at $8.38 per share. The complaint alleges that during the class period, defendants misled investors by projecting confidence in fiscal 2027 revenue growth while downplaying risks from slowing Network Solutions growth, when in fact the durability of pharmaceutical marketing commitments was uncertain and put the revenue target at risk.
Investor Deadline Alert Issued for Phreesia, Sportradar, Commvault, and Veritone Securities Class Actions
The Law Offices of Howard G. Smith reminds investors of upcoming lead plaintiff deadlines in securities fraud class actions against Phreesia, Sportradar, Commvault, and Veritone. Phreesia faces a July 13, 2026 deadline over allegations it misled investors about its pharmaceutical marketing commitments as a durable growth driver for its Network Solutions segment, putting fiscal 2027 revenue targets at risk. Sportradar has a July 17, 2026 deadline amid claims it worked with black-market gambling operators and overstated its compliance processes. Commvault also has a July 17, 2026 deadline, with allegations it failed to disclose how different sale types impact annual recurring revenue growth. Veritone's deadline is July 20, 2026, over accusations of misclassified revenue, overstated assets, and deficient internal controls that led to financial restatements.
CVLT · Regulation · Negative Securities class action alleges Commvault failed to disclose how different sale types impact annual recurring revenue growth.
PHR · Regulation · Negative Securities class action alleges Phreesia misled investors about pharmaceutical marketing commitments, putting fiscal 2027 revenue targets at risk.
SRAD · Regulation · Negative Securities class action alleges Sportradar worked with black-market gambling operators and overstated compliance processes.
VERI · Regulation · Negative Securities class action alleges Veritone misclassified revenue, overstated assets, and had deficient internal controls leading to restatements.
Bragar Eagel & Squire Reminds Phreesia Investors of Class Action Lawsuit
Bragar Eagel & Squire, P.C. reminds investors that a class action lawsuit has been filed against Phreesia, Inc. on behalf of purchasers of Phreesia common stock between May 8, 2025 and March 30, 2026. The complaint alleges the company and its executives made false or misleading statements and failed to disclose slowing demand and reduced visibility in key revenue streams, particularly weakened pharmaceutical marketing commitments in its Network Solutions segment. On December 8, 2025, CFO Balaji Gandhi provided fiscal 2027 revenue guidance of $545 million to $559 million, but on March 30, 2026, the company reduced that guidance to $510 million to $520 million, citing weaker pharmaceutical marketing commitments and shorter visibility. The stock fell 21 to 28 percent on the revised outlook. Investors have until July 13, 2026 to seek appointment as lead plaintiff.
Grabar Law Office investigates fiduciary breach claims against Commvault, LKQ, Phreesia, and Power Solutions International
Grabar Law Office is investigating claims on behalf of long-term shareholders of Commvault Systems, LKQ Corporation, Phreesia, and Power Solutions International, alleging that certain officers and directors breached their fiduciary duties. For Commvault, the investigation concerns allegedly misleading guidance on annual recurring revenue growth for fiscal year 2026, with shareholders who purchased before April 29, 2025 and still hold shares encouraged to seek corporate reforms. The LKQ probe relates to a securities fraud class action alleging that senior executives misled investors about the performance and risks of the $2.1 billion acquisition of Uni-Select, including the FinishMaster business, with shareholders who held shares since before February 27, 2023 eligible to participate. Phreesia's investigation follows a complaint claiming the company made false statements about slowing demand and weakened pharmaceutical marketing commitments in its Network Solutions segment, affecting shareholders who purchased before May 8, 2025. Power Solutions International is also under investigation after a class action alleged the company overstated its ability to capture data center market demand and understated the costs of manufacturing capacity enhancements, with shareholders who acquired securities before May 8, 2025 able to seek reforms.
Faruqi & Faruqi Reminds Phreesia Investors of July 13, 2026 Lead Plaintiff Deadline
Faruqi & Faruqi, LLP reminds investors of the July 13, 2026 deadline to seek lead plaintiff in a securities class action against Phreesia, Inc. The lawsuit alleges the company and its executives made false and misleading statements about growth potential in its Network Solutions segment and the AccessOne acquisition, while concealing slowing demand and weaker pharmaceutical marketing commitments. After the market closed on March 30, 2026, Phreesia announced significantly reduced revenue growth projections for fiscal year 2027, citing worsening visibility and weaker pharmaceutical marketing commitments. The price of Phreesia’s common stock declined from a closing market price of $11.41 per share on March 30, 2025, to $8.38 per share on March 31, 2026, a decline of about 27%. Investors who purchased Phreesia securities between May 8, 2025 and March 30, 2026 may contact the firm to discuss their legal rights.
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