Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2025	Jul. 31, 2024	Jul. 31, 2025	Jul. 31, 2024
Operating activities:
Net income (loss)	$ 654	$ (18,012)	$ (3,260)	$ (37,734)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	7,409	7,303	14,287	13,976
Stock-based compensation expense	16,230	16,448	33,455	33,288
Amortization of deferred financing costs and debt discount	62	51	124	112
Cost of Phreesia hardware purchased by customers	157	334	593	677
Deferred contract acquisition costs amortization	242	192	352	384
Non-cash operating lease expense	218	188	433	361
Deferred taxes	(1,583)	56	(1,498)	119
Changes in operating assets and liabilities:
Accounts receivable	(1,820)	4,976	(3,310)	3,583
Prepaid expenses and other assets	(2,660)	2,867	(2,916)	3,281
Deferred contract acquisition costs	(351)	(213)	(351)	(213)
Accounts payable	2,068	1,186	329	(1,750)
Accrued expenses and other liabilities	(1,289)	(1,392)	(2,180)	(2,547)
Lease liabilities	(238)	(201)	(490)	(420)
Deferred revenue	(4,264)	(2,722)	(5,883)	(2,777)
Net cash provided by operating activities	14,835	11,061	29,685	10,340
Investing activities:
Capitalized internal-use software	(3,435)	(2,976)	(7,323)	(7,546)
Purchases of property and equipment	(1,767)	(4,427)	(5,271)	(5,303)
Net cash used in investing activities	(5,202)	(7,403)	(12,594)	(12,849)
Financing activities:
Proceeds from issuance of common stock upon exercise of stock options	114	219	242	566
Proceeds from employee stock purchase plan	575	690	1,343	1,603
Finance lease payments	(2,510)	(1,995)	(3,886)	(3,275)
Principal payments on financing agreements	(328)	(295)	(648)	(584)
Debt issuance costs and loan facility fee payments	0	0	(38)	(152)
Financing payments of acquisition-related liabilities	0	0	0	(1,364)
Net cash used in financing activities	(2,149)	(1,381)	(2,987)	(3,206)
Effect of exchange rate changes on cash and cash equivalents	(89)	(6)	(58)	(7)
Net increase (decrease) in cash and cash equivalents	7,395	2,271	14,046	(5,722)
Cash and cash equivalents – beginning of period	90,871	79,527	84,220	87,520
Cash and cash equivalents – end of period	98,266	81,798	98,266	81,798
Supplemental information of non-cash investing and financing information:
Right of use assets acquired in exchange for operating lease liabilities	0	1,194	0	1,958
Property and equipment acquisitions through finance leases	0	333	0	6,862
Purchase of property and equipment and capitalized software included in current liabilities	2,461	1,517	2,461	1,517
Capitalized stock-based compensation	320	315	652	663
Issuance of stock to settle liabilities for stock-based compensation	1,346	1,649	7,854	7,826
Cash paid for:
Interest	330	381	654	864
Income taxes	$ 763	$ 417	$ 1,314	$ 2,010

Phreesia, Inc. 10-Q