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W hen the holiday season rolls around, Katherine DeGroot digs out the glue gun, buys craft items in bulk and forages for additional supplies in her refrigerator, pantry and backyard. She then makes her own holiday decor, some of which her family gives as gifts. “We use whatever I have around the house or even outside,” said DeGroot. The Instagrammer also shares her latest projects as part of a growing social media community of DIY decor enthusiasts swapping ideas while keeping sustainability in mind. While the holidays are the most wonderful time of the year, they can also be the most wasteful. According to one Stanford University study, Americans throw out an estimated 25% more trash during the holidays than at any other time of the year. To help reduce a household’s carbon footprint during this time and keep items out of landfills, the University of Minnesota’s Office of Sustainability has created a holiday guide covering tips on sustainable decorating as well as gift-giving and food practices. Carley Rice, university sustainability coordinator, said breaking old holiday habits can be difficult. The key is baby steps. “We don’t want to overwhelm anyone. Start small, and make changes that make sense to you and your family right now,” she said. For starters, try making your own holiday decorations using sustainable materials and supplies that can be purchased in bulk. Going DIY can be more economical. Want to start making a dent toward a more cost-conscious, sustainable holiday? Here are how-tos on making paper snowflakes, dried fruit garlands, candles and potpourri from Instagrammers DeGroot (@katherinelouisedegroot) and Emma O’Connor (@emmaelizabethoconnor). Paper bag snowflakes Katherine DeGroot buys inexpensive brown paper lunch bags to create DIY snowflakes. “They’re festive into the new year,” DeGroot added. “They’re great for gifting, as well.” Makes 1 Supplies: 8 brown paper lunch bags, scissors, hot glue gun. Optional: stapler, string and hole puncher. To assemble: Glue eight bags together by placing the first bag on a flat surface. Make sure the bag’s opening is on top and the smooth surface side of the bag without the crease faces upward. Draw an upside-down T with the glue onto the bag. Stack one of the unglued bags on top, facing the same way as the first bag. Repeat gluing and stacking each of the remaining bags. When you get to the last bag, stack but do not glue the top. To design: Take scissors and create a snowflake design by cutting edges of stacked bags. Creative liberties can be taken here. When finished, open the snowflake by joining the two end pieces together, which will form a circle. Glue end pieces together. Staple for an extra-secure snowflake. Use for holiday decor on mantels, tabletops, walls or windows. If hanging the snowflakes, pull a string through an existing hole or use a hole puncher. Stovetop winter potpourri One of the reasons DeGroot likes to make this as a gift is that the ingredients are versatile. In this batch, she uses cranberries, oranges, cinnamon sticks and star anise. However, cloves, fresh rosemary, lemons, apples or vanilla beans also are suitable. Any way you slice it, this spin on potpourri imbues the spirit of the holidays. Makes 4 gift bags Supplies: Generous bundle of evergreen clippings, 12 ounces of fresh cranberries, 4 oranges, 8 cinnamon sticks, 12 star anise, 4 paper sandwich bags. To assemble: In each bag, add some evergreen clippings, about 1 1⁄2 cups cranberries, 1 orange, 2 cinnamon sticks and 3 star anise. To use: Write directions for use by your recipient: Put items in a small pot, add just enough water to cover the ingredients, bring to a simmer, and enjoy the aroma! Dried fruit garland Emma O’Connor’s go-to DIY decor item adds vibrancy and color to her home during the holidays. “I have always admired using natural resources to decorate seasonally. This is also an easy craft to do with little helping hands,” she said. Makes 12 feet of garland Supplies: 4 oranges or grapefruit; 8 ounces fresh cranberries; dishcloth; parchment paper; baking sheets and baking rack; kitchen twine or string; sewing needle. To prepare: Preheat oven to 200 F. Slice oranges and grapefruit into 1⁄8- to 1⁄4-inch round slices. Pat dry with a dishcloth and arrange slices on parchment-lined baking sheets. To dry fruit: Bake for 3 to 4 hours or until dry, flipping halfway through. Let slices cool on a baking rack. To finish: Use kitchen twine or string and a sewing needle to thread through dried fruits and fresh cranberries. Beeswax jelly jar candles DeGroot especially loves this candle-making project because it’s a family activity. And while they like to make a batch during this time of year for that golden holiday glow, the effort pays off far beyond. “I love these beeswax candles because they can be used all year round,” said DeGroot, adding that she prefers beeswax over other candle bases because it burns cleaner. Makes 4 to 5 small/medium candles in jelly-sized jars Supplies: 2-pound bag of beeswax pellets or ends of beeswax candles; 4 to 5 wicks; double boiler or two pots; and 4 to 5 small- to medium-sized heat-resistant, fireproof containers, such as jelly or Mason jars. Optional: Chopsticks, clothespins or Popsicle sticks for centering the wick and essential oils for scents. To prepare: Using a double boiler, pour candle wax into the top pot and place on the stovetop. Heat on medium-high until all of the wax is melted, about 20 minutes. Remove from heat. If using, add drops of essential oils according to preference and stir into wax. Meanwhile, place one wick vertically in the center of the jar. Your wick should be a few inches taller than your vessel. You can use chopsticks, clothespins or Popsicle sticks to keep the wick in place. To assemble: Carefully pour melted wax into jars, about 1⁄4 inch from the top. If using Popsicle sticks, remove them after the wax and jars have cooled. Set aside until candles are ready to use once the wax has hardened, 1 to 2 hours. Get local news delivered to your inbox!Why Rivian Automotive Stock Is Soaring Today
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ALL-REMOTE COMPANY/WILMINGTON, Del.--(BUSINESS WIRE)--Dec 9, 2024-- Phreesia, Inc. (NYSE: PHR) (“Phreesia” or the "Company") announced financial results today for the fiscal third quarter ended October 31, 2024. "We are excited about the future here at Phreesia,” said CEO and Co-Founder Chaim Indig. “Our network continues to grow, adoption of our current offerings is increasing, and we are beginning to see the promise of new solutions we are investing in.” Please visit the Phreesia investor relations website at ir.phreesia.com to view the Company's Q3 Fiscal Year 2025 Stakeholder Letter. Fiscal Third Quarter Ended October 31, 2024 Highlights Fiscal Year 2025 Outlook We are narrowing our revenue outlook for fiscal 2025 to a range of $418 million to $420 million from a previous range of $416 million to $426 million, implying year-over-year growth of 17% to 18%. We are updating our Adjusted EBITDA outlook for fiscal 2025 to a range of $34 million to $36 million from a previous range of $26 million to $31 million. Our outlook reflects our strong performance in the fiscal third quarter and our continued focus on margin improvement. We are maintaining our expectation for AHSCs to reach approximately 4,200 for fiscal 2025, compared to 3,601 in fiscal 2024. We are maintaining our expectation for Total revenue per AHSC to increase in fiscal 2025 compared to the $98,944 we achieved in fiscal 2024. Fiscal Year 2026 Outlook We are introducing our revenue outlook for fiscal 2026. We expect revenue to be in the range of $472 million to $482 million. The revenue range provided for fiscal 2026 assumes no additional revenue from potential future acquisitions completed between now and January 31, 2026. We are introducing our Adjusted EBITDA outlook for fiscal 2026. We expect Adjusted EBITDA to be in the range of $78 million to $88 million. The Adjusted EBITDA range provided for fiscal 2026 assumes continued improvement in operating leverage across the Company through focusing on efficiency. We expect AHSCs to reach approximately 4,500 in fiscal 2026. Additionally, we expect Total revenue per AHSC in fiscal 2026 to increase from fiscal 2025. We believe our $81.7 million in cash and cash equivalents as of October 31, 2024, along with cash generated in our normal operations, gives us sufficient flexibility to reach our fiscal 2025 and fiscal 2026 outlook. Additionally, our available borrowing capacity under our credit facility with Capital One provides us with an additional source of capital to pursue future growth opportunities not incorporated into our fiscal 2025 and fiscal 2026 outlook. As of October 31, 2024 we have no borrowings outstanding under our credit facility. Non-GAAP Financial Measures We have not reconciled our Adjusted EBITDA outlook to GAAP Net income (loss) because we do not provide an outlook for GAAP Net income (loss) due to the uncertainty and potential variability of Other (income) expense, net and (Benefit from) provision for income taxes, which are reconciling items between Adjusted EBITDA and GAAP Net income (loss). Because we cannot reasonably predict such items, a reconciliation of the non-GAAP financial measure outlook to the corresponding GAAP measure is not available without unreasonable effort. We caution, however, that such items could have a significant impact on the calculation of GAAP Net income (loss). For further information regarding the non-GAAP financial measures included in this press release, including a reconciliation of GAAP to non-GAAP financial measures and an explanation of these measures, please see “Non-GAAP financial measures” below. Available Information We intend to use our Company website (including our Investor Relations website) as well as our Facebook, X, LinkedIn and Instagram accounts as a means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD. Forward Looking Statements This press release includes express or implied statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or our future financial or operating performance and may contain projections of our future results of operations or of our financial information or state other forward-looking information. These statements include, but are not limited to, statements regarding: our future financial and operating performance, including our revenue, operating leverage, margins, Adjusted EBITDA, cash flows and profitability 3; our ability to finance our plans to achieve our fiscal 2025 and fiscal 2026 outlook with our current cash balance and cash generated in the normal course of business; and our outlook for fiscal 2025 and fiscal 2026, including our expectations regarding revenue, Adjusted EBITDA, AHSCs and Total revenue per AHSC. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these statements relate to future events or our future operational or financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including, without limitation, risks associated with: our ability to effectively manage our growth and meet our growth objectives; our focus on the long-term and our investments in growth; the competitive environment in which we operate; our ability to comply with the covenants in our credit agreement with Capital One; changes in market conditions and receptivity to our products and services; our ability to develop and release new products and services and successful enhancements, features and modifications to our existing products and services; our ability to maintain the security and availability of our platform; the impact of cyberattacks, security incidents or breaches impacting our business; changes in laws and regulations applicable to our business model; our ability to make accurate predictions about our industry and addressable market; our ability to attract, retain and cross-sell to healthcare services clients; our ability to continue to operate effectively with a primarily remote workforce and attract and retain key talent; our ability to realize the intended benefits of our acquisitions and partnerships; and difficulties in integrating our acquisitions and investments; and other general, market, political, economic and business conditions (including from the results of the 2024 U.S. presidential and congressional elections and the warfare and/or political and economic instability in Ukraine, the Middle East or elsewhere). The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those listed or described in our filings with the Securities and Exchange Commission (“SEC”), including in our Quarterly Report on Form 10-Q for the fiscal quarter ended October 31, 2024 that will be filed with the SEC following this press release. The forward-looking statements in this press release speak only as of the date on which the statements are made. We undertake no obligation to update, and expressly disclaim the obligation to update, any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. This press release includes certain non-GAAP financial measures as defined by SEC rules. We have provided a reconciliation of those measures to the most directly comparable GAAP measures, with the exception of our Adjusted EBITDA outlook for the reasons described above. Conference Call Information We will hold a conference call on Monday December 9, 2024 at 5:00 p.m. Eastern Time to review our fiscal 2025 third quarter financial results. To participate in our live conference call and webcast, please dial (800) 715-9871 (or (646) 307-1963 for international participants) using conference code number 7404611 or visit the “Events & Presentations” section of our Investor Relations website at ir.phreesia.com . A replay of the call will be available via webcast for on-demand listening shortly after the completion of the call, at the same web link, and will remain available for approximately 90 days. About Phreesia Phreesia is a trusted leader in patient activation, giving providers, life sciences companies and other organizations tools to help patients take a more active role in their care. Founded in 2005, Phreesia enabled approximately 150 million patient visits in 2023—more than 1 in 10 visits across the U.S.—scale that we believe allows us to make meaningful impact. Offering patient-driven digital solutions for intake, outreach, education and more, Phreesia enhances the patient experience, drives efficiency and improves healthcare outcomes. Phreesia, Inc. Consolidated Balance Sheets (in thousands, except share and per share data) October 31, 2024 January 31, 2024 (Unaudited) Assets Current: Cash and cash equivalents $ 81,740 $ 87,520 Settlement assets 25,046 28,072 Accounts receivable, net of allowance for doubtful accounts of $1,468 and $1,392 as of October 31, 2024 and January 31, 2024, respectively 71,408 64,863 Deferred contract acquisition costs 362 768 Prepaid expenses and other current assets 11,017 14,461 Total current assets 189,573 195,684 Property and equipment, net of accumulated depreciation and amortization of $87,861 and $76,859 as of October 31, 2024 and January 31, 2024, respectively 25,973 16,902 Capitalized internal-use software, net of accumulated amortization of $53,210 and $45,769 as of October 31, 2024 and January 31, 2024, respectively 51,322 46,139 Operating lease right-of-use assets 1,656 266 Deferred contract acquisition costs 450 986 Intangible assets, net of accumulated amortization of $7,536 and $4,925 as of October 31, 2024 and January 31, 2024, respectively 29,014 31,625 Goodwill 75,845 75,845 Other assets 1,870 2,879 Total Assets $ 375,703 $ 370,326 Liabilities and Stockholders’ Equity Current: Settlement obligations $ 25,046 $ 28,072 Current portion of finance lease liabilities and other debt 8,866 6,056 Current portion of operating lease liabilities 1,021 393 Accounts payable 15,870 8,480 Accrued expenses 29,080 37,130 Deferred revenue 22,188 24,113 Other current liabilities 7,130 5,875 Total current liabilities 109,201 110,119 Long-term finance lease liabilities and other debt 10,292 5,400 Operating lease liabilities, non-current 840 134 Long-term deferred revenue 199 97 Long-term deferred tax liabilities 446 270 Other long-term liabilities 133 2,857 Total Liabilities 121,111 118,877 Commitments and contingencies Stockholders’ Equity: Preferred stock, undesignated, $0.01 par value - 20,000,000 shares authorized as of both October 31, 2024 and January 31, 2024; no shares issued or outstanding as of both October 31, 2024 and January 31, 2024 — — Common stock, $0.01 par value - 500,000,000 shares authorized as of both October 31, 2024 and January 31, 2024; 59,439,197 and 57,709,762 shares issued as of October 31, 2024 and January 31, 2024, respectively 594 577 Additional paid-in capital 1,094,629 1,039,361 Accumulated deficit (795,106 ) (742,969 ) Accumulated other comprehensive loss (5 ) — Treasury stock, at cost, 1,355,169 shares as of both October 31, 2024 and January 31, 2024 (45,520 ) (45,520 ) Total Stockholders’ Equity 254,592 251,449 Total Liabilities and Stockholders’ Equity $ 375,703 $ 370,326 Phreesia, Inc. Consolidated Statements of Operations (Unaudited) (in thousands, except share and per share data) Three months ended October 31, Nine months ended October 31, 2024 2023 2024 2023 Revenue: Subscription and related services $ 49,363 $ 42,595 $ 144,717 $ 119,783 Payment processing fees 24,704 23,218 77,064 71,102 Network solutions 32,733 25,806 88,351 70,409 Total revenues 106,800 91,619 310,132 261,294 Expenses: Cost of revenue (excluding depreciation and amortization) 17,854 15,529 49,720 44,885 Payment processing expense 16,683 15,410 51,648 47,352 Sales and marketing 30,071 36,478 92,266 111,135 Research and development 29,315 28,544 87,738 82,484 General and administrative 19,633 20,240 58,182 61,105 Depreciation 3,566 4,483 11,011 13,231 Amortization 3,521 2,980 10,052 8,003 Total expenses 120,643 123,664 360,617 368,195 Operating loss (13,843 ) (32,045 ) (50,485 ) (106,901 ) Other expense, net (144 ) (47 ) (261 ) (39 ) Interest income, net 26 523 311 2,027 Total other (expense) income, net (118 ) 476 50 1,988 Loss before provision for income taxes (13,961 ) (31,569 ) (50,435 ) (104,913 ) Provision for income taxes (442 ) (372 ) (1,702 ) (1,326 ) Net loss $ (14,403 ) $ (31,941 ) $ (52,137 ) $ (106,239 ) Net loss per share attributable to common stockholders, basic and diluted $ (0.25 ) $ (0.58 ) $ (0.91 ) $ (1.96 ) Weighted-average common shares outstanding, basic and diluted 57,891,591 55,251,074 57,358,637 54,139,555 (1) Our potential dilutive securities have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted-average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same. Phreesia, Inc. Consolidated Statements of Comprehensive Loss (Unaudited) (in thousands) Three months ended October 31, Nine months ended October 31, 2024 2023 2024 2023 Net loss $ (14,403 ) $ (31,941 ) $ (52,137 ) $ (106,239 ) Other comprehensive loss, net of tax: Change in foreign currency translation adjustments, net of tax (3 ) — (5 ) — Other comprehensive loss, net of tax (3 ) — (5 ) — Comprehensive loss $ (14,406 ) $ (31,941 ) $ (52,142 ) $ (106,239 ) Phreesia, Inc. Consolidated Statements of Cash Flows (Unaudited) (in thousands) Three months ended October 31, Nine months ended October 31, 2024 2023 2024 2023 Operating activities: Net loss $ (14,403 ) $ (31,941 ) $ (52,137 ) $ (106,239 ) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation and amortization 7,087 7,463 21,063 21,234 Stock-based compensation expense 16,525 17,963 49,813 53,749 Amortization of deferred financing costs and debt discount 62 84 174 253 Cost of Phreesia hardware purchased by customers 571 582 1,248 1,232 Deferred contract acquisition costs amortization 1,322 235 1,706 855 Non-cash operating lease expense 207 142 568 484 Deferred taxes 57 39 176 181 Changes in operating assets and liabilities: Accounts receivable (10,141 ) (991 ) (6,558 ) (3,361 ) Prepaid expenses and other assets 1,005 (1,530 ) 4,286 (761 ) Deferred contract acquisition costs (552 ) — (765 ) — Accounts payable 6,948 1,189 5,198 (1,226 ) Accrued expenses and other liabilities (3,655 ) 469 (6,202 ) 6,530 Lease liabilities (202 ) (232 ) (622 ) (884 ) Deferred revenue 954 218 (1,823 ) (1,347 ) Net cash provided by (used in) operating activities 5,785 (6,310 ) 16,125 (29,300 ) Investing activities: Acquisitions, net of cash acquired — (10,406 ) — (14,279 ) Capitalized internal-use software (3,566 ) (4,069 ) (11,112 ) (13,889 ) Purchases of property and equipment (616 ) (1,242 ) (5,919 ) (3,344 ) Net cash used in investing activities (4,182 ) (15,717 ) (17,031 ) (31,512 ) Financing activities: Proceeds from issuance of common stock upon exercise of stock options 17 250 583 925 Treasury stock to satisfy tax withholdings on stock compensation awards — (1,451 ) — (12,176 ) Proceeds from employee stock purchase plan 840 919 2,443 2,782 Finance lease payments (1,895 ) (1,729 ) (5,170 ) (5,156 ) Constructive financing — — — 1,688 Principal payments on financing agreements (304 ) (273 ) (888 ) (318 ) Debt issuance costs and loan facility fee payments — — (152 ) (250 ) Financing payments of acquisition-related liabilities (309 ) — (1,673 ) — Net cash used in financing activities (1,651 ) (2,284 ) (4,857 ) (12,505 ) Effect of exchange rate changes on cash and cash equivalents (10 ) — (17 ) — Net decrease in cash and cash equivalents (58 ) (24,311 ) (5,780 ) (73,317 ) Cash and cash equivalents – beginning of period 81,798 127,677 87,520 176,683 Cash and cash equivalents – end of period $ 81,740 $ 103,366 $ 81,740 $ 103,366 Supplemental information of non-cash investing and financing information: Right of use assets acquired in exchange for operating lease liabilities $ — $ 346 $ 1,958 $ 346 Property and equipment acquisitions through finance leases $ 6,847 $ 371 $ 13,709 $ 7,438 Purchase of property and equipment and capitalized software included in current liabilities $ 3,508 $ 2,911 $ 3,508 $ 2,911 Capitalized stock-based compensation $ 343 $ 309 $ 1,006 $ 1,023 Issuance of stock to settle liabilities for stock-based compensation $ 2,853 $ 3,420 $ 10,679 $ 10,641 Issuance of stock as consideration in business combinations $ — $ 30,645 $ — $ 35,321 Deferred consideration liabilities payable in business combinations $ — $ 10,294 $ — $ 10,294 Capitalized software acquired through vendor financing $ — $ — $ — $ 2,047 Cash paid for: Interest $ 595 $ 295 $ 1,459 $ 649 Income taxes $ 549 $ — $ 2,559 $ 48 Non-GAAP Financial Measures This press release and statements made during the above-referenced webcast may include certain non-GAAP financial measures as defined by SEC rules. Adjusted EBITDA is a supplemental measure of our performance that is not required by, or presented in accordance with, GAAP. Adjusted EBITDA is not a measurement of our financial performance under GAAP and should not be considered as an alternative to net income or loss or any other performance measure derived in accordance with GAAP, or as an alternative to cash flows from operating activities as a measure of our liquidity. We define Adjusted EBITDA as net income or loss before interest income, net, provision for income taxes, depreciation and amortization, and before stock-based compensation expense and other expense, net. We have provided below a reconciliation of Adjusted EBITDA to net loss, the most directly comparable GAAP financial measure. We have presented Adjusted EBITDA in this press release and our Quarterly Report on Form 10-Q to be filed after this press release because it is a key measure used by our management and board of directors to understand and evaluate our core operating performance and trends, to prepare and approve our annual budget, and to develop short and long-term operational plans. In particular, we believe that the exclusion of the amounts eliminated in calculating Adjusted EBITDA can provide a useful measure for period-to-period comparisons of our core business. Accordingly, we believe that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management and board of directors. We have not reconciled our Adjusted EBITDA outlook to GAAP Net income (loss) because we do not provide an outlook for GAAP Net income (loss) due to the uncertainty and potential variability of Other (income) expense, net and (Benefit from) provision for income taxes, which are reconciling items between Adjusted EBITDA and GAAP Net income (loss). Because we cannot reasonably predict such items, a reconciliation of the non-GAAP financial measure outlook to the corresponding GAAP measure is not available without unreasonable effort. We caution, however, that such items could have a significant impact on the calculation of GAAP Net income (loss). Our use of Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our financial results as reported under GAAP. Some of these limitations are as follows: Because of these and other limitations, you should consider Adjusted EBITDA along with other GAAP-based financial performance measures, including various cash flow metrics, net loss, and our GAAP financial results. The following table presents a reconciliation of Adjusted EBITDA to net loss for each of the periods indicated: Phreesia, Inc. Adjusted EBITDA ( Unaudited) Three months ended October 31, Nine months ended October 31, (in thousands) 2024 2023 2024 2023 Net loss $ (14,403 ) $ (31,941 ) $ (52,137 ) $ (106,239 ) Interest income, net (26 ) (523 ) (311 ) (2,027 ) Provision for income taxes 442 372 1,702 1,326 Depreciation and amortization 7,087 7,463 21,063 21,234 Stock-based compensation expense 16,525 17,963 49,813 53,749 Other expense, net 144 47 261 39 Adjusted EBITDA $ 9,769 $ (6,619 ) $ 20,391 $ (31,918 ) We calculate Free cash flow as Net cash provided by (used in) operating activities less capitalized internal-use software development costs and purchases of property and equipment. Additionally, Free cash flow is a supplemental measure of our performance that is not required by, or presented in accordance with, GAAP. We consider Free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by our business that can be used for strategic opportunities, including investing in our business, making strategic investments, partnerships and acquisitions and strengthening our financial position. The following table presents a reconciliation of Free cash flow from Net cash provided by (used in) operating activities, the most directly comparable GAAP financial measure, for each of the periods indicated: Phreesia, Inc. Free cash flow ( Unaudited) Three months ended October 31, Nine months ended October 31, (in thousands, unaudited) 2024 2023 2024 2023 Net cash provided by (used in) operating activities $ 5,785 $ (6,310 ) $ 16,125 $ (29,300 ) Less: Capitalized internal-use software (3,566 ) (4,069 ) (11,112 ) (13,889 ) Purchases of property and equipment (616 ) (1,242 ) (5,919 ) (3,344 ) Free cash flow $ 1,603 $ (11,621 ) $ (906 ) $ (46,533 ) Phreesia, Inc. Reconciliation of GAAP and Adjusted Operating Expenses (Unaudited) Three months ended October 31, Nine months ended October 31, (in thousands) 2024 2023 2024 2023 GAAP operating expenses General and administrative $ 19,633 $ 20,240 $ 58,182 $ 61,105 Sales and marketing 30,071 36,478 92,266 111,135 Research and development 29,315 28,544 87,738 82,484 Cost of revenue (excluding depreciation and amortization) 17,854 15,529 49,720 44,885 $ 96,873 $ 100,791 $ 287,906 $ 299,609 Stock compensation included in GAAP operating expenses General and administrative $ 6,049 $ 5,798 $ 18,534 $ 17,423 Sales and marketing 5,431 6,322 16,500 19,850 Research and development 3,793 4,561 11,049 13,002 Cost of revenue (excluding depreciation and amortization) 1,252 1,282 3,730 3,474 $ 16,525 $ 17,963 $ 49,813 $ 53,749 Adjusted operating expenses General and administrative $ 13,584 $ 14,442 $ 39,648 $ 43,682 Sales and marketing 24,640 30,156 75,766 91,285 Research and development 25,522 23,983 76,689 69,482 Cost of revenue (excluding depreciation and amortization) 16,602 14,247 45,990 41,411 $ 80,348 $ 82,828 $ 238,093 $ 245,860 Phreesia, Inc. Key Metrics (Unaudited) Three months ended October 31, Nine months ended October 31, 2024 2023 2024 2023 Key Metrics: Average number of healthcare services clients ("AHSCs") 4,237 3,688 4,157 3,481 Healthcare services revenue per AHSC $ 17,481 $ 17,845 $ 53,351 $ 54,836 Total revenue per AHSC $ 25,207 $ 24,842 $ 74,605 $ 75,063 The definitions of our key metrics are presented below. Additional Information (Unaudited) Three months ended October 31, Nine months ended October 31, 2024 2023 2024 2023 Patient payment volume (in millions) $ 1,081 $ 965 $ 3,340 $ 2,970 Payment facilitator volume percentage 81 % 82 % 81 % 82 % ______________________________ 1 Adjusted EBITDA is a non-GAAP measure. We define Adjusted EBITDA as net income or loss before interest income, net, provision for income taxes, depreciation and amortization, and before stock-based compensation expense and other expense, net. See “Non-GAAP Financial Measures” for a reconciliation of Adjusted EBITDA to the closest GAAP measure. 2 Free cash flow is a non-GAAP measure. We define Free cash flow as net cash provided by (used in) operating activities less capitalized internal-use software development costs and purchases of property and equipment. See “Non-GAAP Financial Measures” for a reconciliation of Free cash flow to the closest GAAP measure. 3 We define “profitability,” discussed herein, in terms of Adjusted EBITDA, a non-GAAP financial measure. See ‘Non-GAAP Financial Measures’ for a definition of Adjusted EBITDA and a reconciliation of our Adjusted EBITDA to Net loss, the closest GAAP measure. View source version on businesswire.com : https://www.businesswire.com/news/home/20241209683231/en/ CONTACT: Investor Relations Contact:Balaji Gandhi Phreesia, Inc. investors@phreesia.com (929) 506-4950Media Contact:Nicole Gist Phreesia, Inc. nicole.gist@phreesia.com (407) 760-6274 KEYWORD: DELAWARE UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: SCIENCE SOFTWARE PRACTICE MANAGEMENT RESEARCH HEALTH HOSPITALS HEALTH TECHNOLOGY TECHNOLOGY SOURCE: Phreesia, Inc. Copyright Business Wire 2024. PUB: 12/09/2024 04:05 PM/DISC: 12/09/2024 04:05 PM http://www.businesswire.com/news/home/20241209683231/en
REFORM, Ala. (AP) — A federal judge ruled that the family of former NFL player Glenn Foster Jr., who died in law enforcement custody in Alabama, can pursue a lawsuit alleging his death was the result of excessive force. Foster, a former New Orleans Saints defensive end, died on Dec. 6, 2021, three days after being arrested and taken to jail in rural Pickens County for alleged speeding and attempting to elude police. A judge ordered Foster taken to a medical facility in Tuscaloosa for a mental evaluation. Foster was found unresponsive in the back of a law enforcement vehicle when he arrived at the facility. He was pronounced dead about 30 minutes later. His widow, Pamela Foster, filed a lawsuit against officers at the Pickens County Sheriff’s Office and jail saying Foster had been beaten, shocked with a Taser and strangled while at the jail. The defendants then asked a federal judge to dismiss the case. U.S. District Judge Annemarie Carney Axon ruled Thursday refused to dismiss allegations of excessive force and failure to intervene. Axon dismissed other portions of the lawsuit. The ruling came a day before the third anniversary of Foster’s death. Foster appeared in 17 games for the Saints in 2013 and 2014.The New York Mets fell just short of a World Series appearance. They are one of five potential teams that could land Juan Soto, but they could potentially lose a big piece of their rotation as well. The Mets already lost Luis Severino to the Athletics. The Athletic's Jim Bowden noted that the team could also lose Sean Manaea to a three-year, $68 million deal with the Baltimore Orioles. "The Orioles are playing at the top of the starting pitching market — Corbin Burnes, Fried, Roki Sasaki and others — but if that fails, Manaea would be a solid backup plan after his breakout season with the Mets," wrote Bowden. Manaea had a career year with the Mets in his lone season. In 32 starts he had a 3.47 ERA, 184 strikeouts and 181 2/3 innings pitched. He set career bests for ERA and innings pitched while striking out the second most he ever has in a single season. The 32-year-old was a key part of the Mets' improbable postseason run. He threw 17 innings in his first three postseason starts and allowed five earned runs. He struck out 17 in that span. His quality start in Game 3 against the Philadelphia Phillies was a big reason the Mets were able to advance. He also threw a gem in Game 2 against the Los Angeles Dodgers. The Mets' pursuit of Soto has frozen them out of signing other players. With the Soto sweepstakes coming to an end soon, Mananea could sign in the coming week. The Mets will likely be involved, but a team like the Orioles may value him more if they lose Corbin Burnes. More MLB: Dodgers could bring $180 million superstar to LA with yet another deferred deal2025 Hyundai Santa Cruz XRT Named Compact Truck of Texas at Texas Auto Writers Association's Truck Rodeo
Shane Bieber is headed back to Cleveland. The right-handed starter and the Guardians agreed to a one-year deal with a player option for 2026 on Friday, according to The Post’s Jon Heyman . Bieber will earn $10 million in 2025 with a $16 million option for the year after. The deal includes a $4 million buyout, meaning he could earn $14 million this coming season and enter free agency next offseason. Heyman added that Bieber turned down more money from other teams to stay with the Guardians. Bieber, who made just two starts in 2024, underwent Tommy John surgery in April. He’s expected to return to the big league mound in the middle of the 2025 season. Despite some injury troubles throughout his seven-year career, Bieber has proven to be one of the best pitchers in baseball when healthy. Since his sophomore season in 2019, Bieber’s 3.02 ERA ranks sixth in the majors among pitchers with at least 600 innings on the mound. A two-time All-Star, the 29-year-old hurler has also finished top 10 in the American League Cy Young voting three times. During the COVID-shortened 2020 season, Bieber won the award, finishing with an MLB-best 1.63 ERA and 122 strikeouts over 77 1⁄3 innings. With Bieber sidelined for nearly the whole season, the Guardians somewhat surprisingly won the AL Central and made the ALCS before falling to the Yankees in five games. Aside from perhaps Blake Snell, who signed a five-year, $182 million contract with the Dodgers in late November, Bieber is the biggest name to come off the board during the winter’s MLB free agency period.
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WEST PALM BEACH, Fla. (AP) — President-elect Donald Trump said Wednesday that he has chosen Keith Kellogg, a highly decorated retired three-star general, to serve as his special envoy for Ukraine and Russia. Kellogg, who is one of the architects of a staunchly conservative policy book that lays out an “America First” national security agenda for the incoming administration, will come into the role as Russia’s invasion of Ukraine enters its third year in February. Trump, making the announcement on his Truth Social account, said, “He was with me right from the beginning! Together, we will secure PEACE THROUGH STRENGTH, and Make America, and the World, SAFE AGAIN!” Kellogg, an 80-year-old retired Army lieutenant general who has long been Trump’s top adviser on defense issues, served as national security adviser to Vice President Mike Pence , was chief of staff of the National Security Council and then stepped in as an acting security adviser for Trump after Michael Flynn resigned. As special envoy for Ukraine and Russia, Kellogg will have to navigate an increasingly untenable war between the two nations. The Biden administration has begun urging Ukraine to quickly increase the size of its military by drafting more troops and revamping its mobilization laws to allow for the conscription of those as young as 18. The White House has pushed more than $56 billion in security assistance to Ukraine since the start of Russia’s February 2022 invasion and expects to send billions more before Biden leaves office in less than two months. The U.S. has recently stepped up weapons shipments and has forgiven billions in loans provided to Kyiv. Trump has criticized the billions the Biden administration has spent in supporting Ukraine and has said he could end the war in 24 hours, comments that appear to suggest he would press Ukraine to surrender territory that Russia now occupies. As a co-chairman of the American First Policy Institute’s Center for American Security, Kellogg wrote several of the chapters in the group’s policy book. The book, like the Heritage Foundation’s “Project 2025,” is designed to lay out a Trump national security agenda and avoid the mistakes of 2016 when he entered the White House largely unprepared. Kellogg in April wrote that “bringing the Russia-Ukraine war to a close will require strong, America First leadership to deliver a peace deal and immediately end the hostilities between the two warring parties.” Trump's proposed national security adviser , U.S. Rep. Michael Waltz of Florida, tweeted Wednesday that “Keith has dedicated his life to defending our great country and is committed to bringing the war in Ukraine to a peaceful resolution.” Kellogg featured in multiple Trump investigations dating to his first term. He was among the administration officials who listened in on the July 2019 call between Trump and Volodymyr Zelenskyy in which Trump prodded his Ukrainian counterpart to pursue investigations into the Bidens. The call, which Kellogg would later say did not raise any concerns on his end, was at the center of the first of two House impeachment cases against Trump, who was acquitted by the Senate both times. On Jan. 6, 2021, hours before pro-Trump rioters stormed the U.S. Capitol, Kellogg, who was then Pence’s national security adviser, listened in on a heated call in which Trump told his vice president to object or delay the certification in Congress of President Joe Biden ’s victory. He later told House investigators that he recalled Trump saying to Pence words to the effect of: “You’re not tough enough to make the call.” Baldor reported from Washington. AP writer Eric Tucker in Washington contributed to this report. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Get local news delivered to your inbox!None
Srinagar, Dec 8: National Conference Sunday expressed concern regarding the proposed increase in Goods and Services Tax (GST) on traditional Kashmiri products, saying the move has raised alarm within the textile and apparel industry in Kashmir. Calling on the Government of India to reconsider its GST strategy in order to safeguard the industry and the livelihoods it sustains, Party Chief Spokesperson and MLA Zadibal Tanvir Sadiq emphasised that these products serve as the backbone of Kashmir’s economy and cultural heritage. “The increase in GST rates will place a heavy burden on local artisans and traders, jeopardizing their livelihoods and reducing the attractiveness of Kashmiri products in the global market. It is alarming to propose higher taxes during a period of economic instability characterized by inflation and stagnant growth,” he said. Tanvir criticised the proposed hike, stating that it reflects a lack of understanding of Kashmir’s economic realities. He emphasised the importance of balancing revenue needs with social equity for the workforce, warning of severe consequences if this balance is not maintained. Tanvir urged the government to reconsider the hike in order to protect the interests of the Kashmir handicrafts industry.Formula 1 expands grid to add General Motors' Cadillac brand and new American team for 2026 season
First Capital, Inc. Announces Quarterly DividendThe police comments came as part of their annual update on the investigation, a month before the 28th anniversary of JonBenet’s killing. Subscribe to continue reading this article. Already subscribed? To login in, click here.