Matt Shah's questions to Phreesia Inc (PHR) leadership • Q2 2025
Question
Matt Shah, on for Ryan MacDonald, asked if the slower provider adds expected in the second half of fiscal 2025 signal a new seasonality or a strategic shift to larger clients. He also inquired about the PAM renewal process and its revenue potential.
Answer
Executive Balaji Gandhi clarified that the full-year guidance for AHSCs is an intentional move away from a quarterly cadence and does not reflect seasonality. Regarding the Patient Activation Measure (PAM), he highlighted its unique, publicly documented attributes and confirmed that its inclusion in new CMS models presents future revenue opportunities.