PHREESIA, INC., 10-K filed on 3/13/2025
Annual Report
v3.25.0.1
Cover - USD ($)
 12 Months Ended
Jan. 31, 2025
Mar. 07, 2025
Jul. 31, 2024
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Jan. 31, 2025    
Current Fiscal Year End Date --01-31    
Document Transition Report false    
Entity File Number 001-38977    
Entity Registrant Name PHREESIA, INC.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 20-2275479    
Entity Address, Address Line One 1521 Concord Pike    
Entity Address, Address Line Two Suite 301 PMB 221    
Entity Address, City or Town Wilmington    
Entity Address, State or Province DE    
Entity Address, Postal Zip Code 19803    
City Area Code 888    
Local Phone Number 654-7473    
Title of 12(b) Security Common stock, $0.01 par value per share    
Trading Symbol PHR    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 1,355,922,770
Entity Common Stock, Shares Outstanding (in shares)   58,772,448  
Documents Incorporated by Reference
DOCUMENTS INCORPORATED BY REFERENCE
Portions of the registrant’s Definitive Proxy Statement relating to its 2025 Annual Meeting of Stockholders to be filed hereafter are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated.
    
Amendment Flag false    
Entity Central Index Key 0001412408    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
v3.25.0.1
Audit Information
 12 Months Ended
Jan. 31, 2025
Audit Information [Abstract]  
Auditor Name KPMG LLP
Auditor Location Pittsburgh, PA
Auditor Firm ID 185
v3.25.0.1
Consolidated Balance Sheets - USD ($)
Jan. 31, 2025
Jan. 31, 2024
Current:    
Cash and cash equivalents $ 84,220,000 $ 87,520,000
Settlement assets 29,176,000 28,072,000
Accounts receivable, net of allowance for doubtful accounts of $1,468 and $1,392 as of January 31, 2025 and 2024, respectively 73,617,000 64,863,000
Deferred contract acquisition costs 401,000 768,000
Prepaid expenses and other current assets 15,871,000 14,461,000
Total current assets 203,285,000 195,684,000
Property and equipment, net of accumulated depreciation and amortization of $84,505 and $76,859 as of January 31, 2025 and 2024, respectively 23,651,000 16,902,000
Capitalized internal-use software, net of accumulated amortization of $55,991 and $45,769 as of January 31, 2025 and 2024, respectively 52,763,000 46,139,000
Operating lease right-of-use assets 1,477,000 266,000
Deferred contract acquisition costs 583,000 986,000
Intangible assets, net of accumulated amortization of $8,407 and $4,925 as of January 31, 2025 and 2024, respectively 28,143,000 31,625,000
Goodwill 75,845,000 75,845,000
Other assets 2,668,000 2,879,000
Total Assets 388,415,000 370,326,000
Current:    
Settlement obligations 29,176,000 28,072,000
Current portion of finance lease liabilities and other debt 8,043,000 6,056,000
Current portion of operating lease liabilities 964,000 393,000
Accounts payable 5,622,000 8,480,000
Accrued expenses 37,460,000 37,130,000
Deferred revenue 32,758,000 24,113,000
Other current liabilities 0 5,875,000
Total current liabilities 114,023,000 110,119,000
Long-term finance lease liabilities and other debt 8,150,000 5,400,000
Operating lease liabilities, non-current 646,000 134,000
Long-term deferred revenue 119,000 97,000
Long-term deferred tax liabilities 484,000 270,000
Other long-term liabilities 185,000 2,857,000
Total Liabilities 123,607,000 118,877,000
Commitments and contingencies (Note 11)
Stockholders’ Equity:    
Preferred stock, undesignated, $0.01 par value—$20,000,000 shares authorized as of both January 31, 2025 and 2024; no shares issued or outstanding as of January 31, 2025 and 2024, respectively 0 0
Common stock, $0.01 par value—500,000,000 shares authorized as of both January 31, 2025 and 2024; 60,083,444 and 57,709,762 shares issued as of January 31, 2025 and 2024, respectively 601,000 577,000
Additional paid-in capital 1,111,274,000 1,039,361,000
Accumulated deficit (801,496,000) (742,969,000)
Accumulated other comprehensive loss (51,000) 0
Treasury stock, at cost, 1,355,169 shares as of both January 31, 2025 and 2024 (45,520,000) (45,520,000)
Total Stockholders’ Equity 264,808,000 251,449,000
Total Liabilities and Stockholders’ Equity $ 388,415,000 $ 370,326,000
v3.25.0.1
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Statement of Financial Position [Abstract]    
Accounts receivable, allowance for doubtful accounts $ 1,468 $ 1,392
Accumulated depreciation and amortization, property and equipment 84,505 76,859
Accumulated amortization of capitalized internal-use software 55,991 45,769
Accumulated amortization of intangible assets $ 8,407 $ 4,925
Preferred stock par value (in usd per share) $ 0.01 $ 0.01
Preferred stock authorized (in shares) 20,000,000 20,000,000
Preferred stock issued (in shares) 0 0
Preferred stock outstanding (in shares) 0 0
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 500,000,000 500,000,000
Common stock, shares issued (in shares) 60,083,444 57,709,762
Treasury stock (in shares) 1,355,169 1,355,169
v3.25.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Revenue:      
Total revenues $ 419,813 $ 356,299 $ 280,910
Expenses:      
Cost of revenue (excluding depreciation and amortization) 66,227 61,025 58,944
Payment processing expense 68,707 62,986 50,323
Sales and marketing 121,129 147,008 151,263
Research and development 117,364 112,346 91,244
General and administrative 76,597 79,926 80,384
Depreciation 14,183 17,584 17,988
Amortization 13,703 11,903 7,316
Total expenses 477,910 492,778 457,462
Operating loss (58,097) (136,479) (176,552)
Other income (expense), net 1,956 44 (175)
Loss on extinguishment of debt 0 (1,118) 0
Interest income, net 330 2,211 1,064
Total other income, net 2,286 1,137 889
Loss before provision for income taxes (55,811) (135,342) (175,663)
Provision for income taxes (2,716) (1,543) (483)
Net loss $ (58,527) $ (136,885) $ (176,146)
Net loss per share attributable to common stockholders - basic (in dollars per share) $ (1.02) $ (2.51) $ (3.36)
Net loss per share attributable to common stockholders - diluted (in dollars per share) $ (1.02) $ (2.51) $ (3.36)
Weighted-average common shares outstanding - basic (in shares) 57,589,687 54,561,449 52,440,067
Weighted-average common shares outstanding - diluted (in shares) 57,589,687 54,561,449 52,440,067
Subscription and related services      
Revenue:      
Total revenues $ 196,510 $ 165,436 $ 128,975
Payment processing fees      
Revenue:      
Total revenues 101,740 94,610 78,368
Network solutions      
Revenue:      
Total revenues $ 121,563 $ 96,253 $ 73,567
v3.25.0.1
Consolidated Statements of Comprehensive Loss - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net loss $ (58,527) $ (136,885) $ (176,146)
Other comprehensive loss, net of tax:      
Change in foreign currency translation adjustments, net of tax (51) 0 0
Other comprehensive loss, net of tax (51) 0 0
Comprehensive loss $ (58,578) $ (136,885) $ (176,146)
v3.25.0.1
Consolidated Statements of Stockholders' Equity - USD ($)
$ in Thousands
Total
Common stock
Additional paid-in capital
Accumulated deficit
Accumulated other comprehensive loss
Treasury stock
Beginning balance (in shares) at Jan. 31, 2022   52,095,964        
Beginning balance at Jan. 31, 2022 $ 417,280 $ 521 $ 860,657 $ (429,938) $ 0 $ (13,960)
Stockholders’ Equity            
Net loss (176,146)     (176,146)    
Stock-based compensation expense $ 52,506   52,506      
Exercise of stock options and vesting of restricted stock units and performance stock units (in shares) 311,743 1,626,123        
Exercise of stock options and vesting of restricted stock units and performance stock units $ 1,531 $ 16 1,515      
Issuance of common stock for employee stock purchase plan (in shares)   162,154        
Issuance of common stock for employee stock purchase plan 3,472 $ 2 3,470      
Issuance of stock for share-settled bonus awards (in shares)   302,931        
Issuance of stock for share-settled bonus awards 8,812 $ 3 8,809      
Treasury stock from vesting of restricted stock units (19,636)         (19,636)
Ending balance (in shares) at Jan. 31, 2023   54,187,172        
Ending balance at Jan. 31, 2023 287,819 $ 542 926,957 (606,084) 0 (33,596)
Stockholders’ Equity            
Net loss (136,885)     (136,885)    
Stock-based compensation expense $ 63,981   63,981      
Exercise of stock options and vesting of restricted stock units and performance stock units (in shares) 249,247 1,779,430        
Exercise of stock options and vesting of restricted stock units and performance stock units $ 862 $ 18 844      
Issuance of common stock for employee stock purchase plan (in shares)   141,121        
Issuance of common stock for employee stock purchase plan 3,235 $ 1 3,234      
Issuance of stock for share-settled bonus awards (in shares)   354,817        
Issuance of stock for share-settled bonus awards 9,041 $ 4 9,037      
Issuance of common stock as consideration in business combinations (in shares)   1,247,222        
Issuance of common stock as consideration in business combinations 35,320 $ 12 35,308      
Treasury stock from vesting of restricted stock units $ (11,924)         (11,924)
Ending balance (in shares) at Jan. 31, 2024 57,709,762 57,709,762        
Ending balance at Jan. 31, 2024 $ 251,449 $ 577 1,039,361 (742,969) 0 (45,520)
Stockholders’ Equity            
Net loss (58,527)     (58,527)    
Other comprehensive loss (51)       (51)  
Stock-based compensation expense $ 59,021   59,021      
Exercise of stock options and vesting of restricted stock units and performance stock units (in shares) 220,523 1,808,993        
Exercise of stock options and vesting of restricted stock units and performance stock units $ 1,024 $ 18 1,006      
Issuance of common stock for employee stock purchase plan (in shares)   158,262        
Issuance of common stock for employee stock purchase plan 2,821 $ 2 2,819      
Issuance of stock for share-settled bonus awards (in shares)   406,427        
Issuance of stock for share-settled bonus awards $ 9,071 $ 4 9,067      
Ending balance (in shares) at Jan. 31, 2025 60,083,444 60,083,444        
Ending balance at Jan. 31, 2025 $ 264,808 $ 601 $ 1,111,274 $ (801,496) $ (51) $ (45,520)
v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Operating activities:      
Net loss $ (58,527) $ (136,885) $ (176,146)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Depreciation and amortization 27,886 29,487 25,304
Stock-based compensation expense 66,975 71,613 58,775
Amortization of deferred financing costs and debt discount 236 321 310
Loss on extinguishment of debt 0 1,118 0
Non-cash gain on settlement (2,345) 0 0
Cost of Phreesia hardware purchased by customers 1,873 1,619 1,598
Deferred contract acquisition costs amortization 1,815 1,056 1,696
Non-cash operating lease expense 747 702 1,768
Deferred taxes 214 228 434
Changes in operating assets and liabilities:      
Accounts receivable (8,812) (11,205) (11,132)
Prepaid expenses and other assets (1,427) (2,209) 250
Deferred contract acquisition costs (1,045) 0 (427)
Accounts payable (3,234) (1,993) 4,774
Accrued expenses and other liabilities 182 14,195 2,720
Lease liabilities (824) (1,156) (1,302)
Deferred revenue 8,667 731 1,255
Net cash provided by (used in) operating activities 32,381 (32,378) (90,123)
Investing activities:      
Acquisitions, net of cash acquired 0 (14,573) 0
Capitalized internal-use software (15,380) (19,291) (21,471)
Purchases of property and equipment (8,709) (5,806) (4,732)
Net cash used in investing activities (24,089) (39,670) (26,203)
Financing activities:      
Proceeds from issuance of common stock upon exercise of stock options 1,012 955 1,603
Treasury stock to satisfy tax withholdings on stock compensation awards 0 (12,176) (19,383)
Proceeds from employee stock purchase plan 2,918 3,209 3,321
Finance lease payments (7,811) (6,779) (5,731)
Constructive financing 0 1,688 0
Principal payments on financing agreements (1,199) (600) (216)
Debt issuance costs and loan facility fee payments (152) (1,321) (397)
Financing payments of acquisition-related liabilities (6,254) (1,333) 0
Debt extinguishment costs 0 (758) 0
Net cash used in financing activities (11,486) (17,115) (20,803)
Effect of exchange rate changes on cash and cash equivalents (106) 0 0
Net decrease in cash and cash equivalents (3,300) (89,163) (137,129)
Cash and cash equivalents—beginning of year 87,520 176,683 313,812
Cash and cash equivalents—end of year 84,220 87,520 176,683
Supplemental information of non-cash investing and financing activities:      
Right of use assets acquired in exchange for operating lease liabilities 1,958 398 0
Property and equipment acquisitions through finance leases 13,709 7,438 526
Purchase of property and equipment and capitalized software included in accounts payable and accrued liabilities 1,787 1,299 2,345
Receivables for cash in-transit on stock option exercises 0 0 97
Capitalized stock-based compensation 1,362 1,415 1,372
Issuance of stock to settle liabilities for stock-based compensation 11,892 12,276 12,284
Deferred consideration liabilities payable in business combinations 0 8,732 0
Issuance of stock as consideration in business combinations 0 35,321 0
Capitalized software acquired through vendor financing 0 2,047 0
Cash paid for:      
Interest 2,194 1,306 763
Income taxes $ 3,068 $ 37 $ 39
v3.25.0.1
Background and liquidity
 12 Months Ended
Jan. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Background and liquidity Background and liquidity
(a) Background
Phreesia, Inc. (the "Company") is a leading provider of comprehensive software solutions that improve the operational and financial performance of healthcare organizations and improve health outcomes by helping patients take a more active role in their care. The Company has created an integrated and streamlined system that automates data capture and activates patients before, during and after their interaction with their healthcare services provider. The Company's solutions include SaaS-based integrated tools that manage patient access, registration and payments. Additionally, the Company offers tools to communicate with patients about their health that have demonstrated increased rates of preventive care and vaccinations. Additionally, Phreesia's solutions include clinical assessments to screen patients for a variety of physical, behavioral and mental health conditions, helping providers to better understand their patients and connect them to needed services, resulting in improved health outcomes. The Company also provides life sciences companies, government entities, patient advocacy, public interest and not-for-profit and other organizations with a channel for direct education and communication with patients in a privacy-protected environment. Phreesia's solutions also include additional products and services such as the MediFind provider directory, which helps patients find care based on providers' specialty and condition expertise. Phreesia offers its healthcare services clients the ability to lease tablets ("PhreesiaPads") and on-site kiosks ("Arrivals Kiosks") along with their monthly subscription. The Company was formed in May 2005.
(b) Liquidity
Since the Company commenced operations, it has not generated sufficient revenue to meet its operating expenses and has continued to incur significant net losses. To date, the Company has primarily relied upon the proceeds from issuances of common stock, debt and preferred stock to fund its operations as well as sales of Company products and services in the normal course of business.
Management believes that the Company’s cash and cash equivalents at January 31, 2025, along with cash generated in the normal course of business and available borrowing capacity under its revolving credit facility with Capital One, N.A. (“Capital One”) (the “Capital One Credit Facility”), are sufficient to fund its operations for at least the next 12 months.
The Company may seek to obtain additional financing, if needed, to successfully implement its long-term strategy.
v3.25.0.1
Basis of presentation
 12 Months Ended
Jan. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of presentation Basis of presentation
(a) Consolidated financial statements
The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States ("GAAP") and regulations of the Securities and Exchange Commission ("SEC") regarding annual financial reporting and include the accounts of Phreesia, Inc; its branch operation in Canada and its consolidated subsidiaries (or collectively, the "Company").
(b) Fiscal year
The Company’s fiscal year ends on January 31. References to fiscal 2025, 2024 and 2023 refer to the fiscal years ending on January 31, 2025, 2024 and 2023, respectively.
v3.25.0.1
Summary of significant accounting policies
 12 Months Ended
Jan. 31, 2025
Accounting Policies [Abstract]  
Summary of significant accounting policies Summary of significant accounting policies
(a) Use of estimates
The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. These judgments, estimates and assumptions are used for, but not limited to revenue recognition, the allowance for doubtful accounts, contingent liabilities, the determination of the useful lives of long-lived assets, the capitalization, valuation and
recoverability of long-lived assets, the fair value of securities underlying stock-based compensation and the fair value of identifiable assets and liabilities and deferred consideration in business acquisitions.
(b) Revenue recognition
The Company generates revenue primarily from providing integrated SaaS-based software and payment solutions for the healthcare industry. The Company derives revenue from subscription fees and related services generated from the Company’s healthcare services clients for access to the Company's solutions, payment processing fees based on patient payment volume, and fees from life sciences clients and other organizations for delivering qualified direct communications to patients who consent to receive this type of engagement using the Company's solutions.
The Company accounts for revenue from contracts with customers by applying the following steps:
•identification of the contract, or contracts, with a customer;
•identification of the performance obligations in the contract;
•determination of the transaction price;
•allocation of the transaction price to the performance obligations in the contract; and
•recognition of revenue when, or as, the Company satisfies a performance obligation.
Revenues are recognized when control of these services is transferred to the Company’s customers, in an amount that reflects the consideration it expects to be entitled to in exchange for those services.
The majority of the Company’s contracts with customers contain multiple performance obligations. For these contracts, the Company accounts for individual performance obligations separately when they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. The Company determines the standalone selling prices based on its overall pricing objectives, taking into consideration market conditions, historical pricing information as priced in previous bundled contracts, as well as other factors such as product, customer type and geographic area. The Company typically establishes a range of SSPs for each of its performance obligations. The Company uses the residual method to estimate the SSP for certain performance obligations with highly variable pricing.
i.Subscription and related services
In most cases, the Company generates subscription fees from clients based on the number of healthcare services clients that utilize the Company's solutions and subscription fees for the Company’s self-service intake tablets (PhreesiaPads), on-site kiosks (Arrivals Kiosks) and any other solutions. The Company’s healthcare services clients are typically billed monthly in arrears, though in some instances healthcare services clients may opt to be billed monthly, quarterly or annually in advance. Subscription fees are typically auto-debited from client’s accounts every month. Revenue for healthcare services client subscriptions is recognized over the term of the respective healthcare services client contract. Substantially all of the Company’s subscription arrangements are considered service contracts, and the customer does not have the right to take possession of the software. Revenue for related services is recognized as it is delivered if the services are distinct from the subscription service and is recognized over the remaining non-cancelable subscription term if it is not distinct from the subscription service. In certain arrangements, the Company leases its PhreesiaPads and Arrivals Kiosks through operating leases to its customers. Accordingly, these revenue transactions are accounted for using ASC 842, Leases.
In addition, subscription and related services includes certain fees from clients for professional services associated with implementation services as well as travel and expense reimbursements, shipping and handling fees, sales of Phreesia hardware (PhreesiaPads and Arrivals Kiosks), on-site support and training. Certain professional services for implementation are not distinct from the Company's solutions and are therefore recognized over the term of the contract. Revenue from sales of distinct professional services, Phreesia hardware and training are recognized in the period they are delivered to clients.
ii.Payment processing fees
The Company generates revenue from payment processing fees based on the levels of patient payment volume resulting from credit and debit card transactions (dollar value and number of card transactions) processed through Phreesia’s payment facilitator model. Payment processing fees are generally calculated as a percentage of the total transaction dollar value processed and/or a fee per transaction. The remainder of patient payment volume is composed of credit and debit card transactions for which Phreesia acts as a gateway to payment processors, and cash and check transactions.
The Company recognizes the payment processing fees when the transaction occurs (i.e., when the processing services are completed). The transaction amount is collected from the cardholder’s bank via the Company’s third-party payment processing partner and the card networks. The transaction amount is then remitted to its customers
approximately two business days after the transaction occurs. At the end of each month, the Company bills its customers for any payment processing fees owed per its customer contractual agreements. Similarly, at the end of each month, the Company remits payments to third-party payment processors and financial institutions for interchange and assessment fees, processing fees, and bank settlement fees.
The Company acts as the merchant of record for its customers and works with payment card networks and banks so that its customers do not need to manage the complex systems, rules, and requirements of the payment industry. The Company satisfies its performance obligations and therefore recognizes the transaction fees as revenue upon completion of a transaction. Revenue is recognized net of refunds, which arise from reversals of transactions initiated by the Company’s customers.
The payment processing fees collected from customers are recognized as revenue on a gross basis as the Company is the principal in the delivery of the managed payment solutions to the customer. The Company has concluded it is the principal because as the merchant of record, it controls the services before delivery to the customer, it is primarily responsible for the delivery of the services to its customers, it has latitude in establishing pricing with respect to the customer and other terms of service, it has sole discretion in selecting the third-party to perform the settlement, and it assumes the credit risk for the transaction processed. The Company also has the unilateral ability to accept or reject a transaction based on criteria established by the Company.
As the merchant of record, the Company is liable for settlement of the transactions processed and, accordingly, such costs are included in payment processing fees expense on the accompanying consolidated statements of operations.
iii.Network solutions
The Company's Network solutions revenue includes fees from life sciences companies and other organizations for qualified direct communications to patients who consent to receive this type of engagement, to help activate, engage and educate patients about topics critical to their health using the Company’s solutions.
The Company generates revenue from sales of digital marketing solutions to life sciences companies which is based largely on the delivery of messages at a contracted price per message to patients. Messaging campaigns are sold for a specified number of messages delivered to qualified patients over an expected time frame. Revenue is recognized as the messages are delivered.
(c) Concentrations of credit risk
Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, accounts receivable and settlement assets. The Company’s cash and cash equivalents are held by established financial institutions. The Company does not require collateral from its customers and generally requires payment within 30 to 60 days of billing. Settlement assets are amounts due from well-established payment processing companies and normally take one to two business days to settle which mitigates the associated risk of concentration. The Company utilizes one third-party payment processor.
The Company’s customers are primarily physician’s offices and other healthcare services organizations located in the United States as well as pharmaceutical companies. The Company did not have any individual customers that represented more than 10% of total revenues for the years ended January 31, 2025, 2024 and 2023. As of both January 31, 2025 and January 31, 2024, the Company had receivables from at least one entity that accounted for at least 10% of total accounts receivable.
(d) Risks and uncertainties
The Company is subject to a variety of risk factors, including the economy, data privacy and security laws and government regulations. Additionally, the Company is subject to other risks associated with the markets in which it operates including reliance on third-party vendors, partners, and service providers. The Company has a substantial number of employees in Canada and India and the Company supplements its workforce with contractors and consultants in domestic and international locations. Certain of the Company's service providers, including certain third-party software developers, are located in international locations subject to warfare and/or political and economic instability, such as Ukraine and India. As with any business, operation of the Company involves risk, including the risk of service interruption impacting the operations of the Company's business and the Company's customer’s facilities below expected levels of operation, shut downs due to the breakdown or failure of information technology and communications systems, changes in laws or regulations, political and economic instability, or catastrophic events such as fires, earthquakes, floods, explosions, global health concerns such as pandemics or other similar occurrences affecting the delivery of our productions and services. The occurrence of any of these events could significantly reduce or eliminate revenues generated, or significantly increase the expenses of the
Company's operations, adversely impacting the Company’s operating results and the Company's ability to meet the Company's obligations and commitments. See Note 6 - Finance leases and other debt and Note 11 - Commitments and contingencies, for a summary of our contractual commitments as of January 31, 2025.
(e) Cost of revenue (excluding depreciation and amortization)
Cost of revenue (excluding depreciation and amortization) primarily consists of personnel expenses for implementation and technical support, infrastructure costs for operation of our solutions such as hosting fees, and certain fees paid to various third-party providers for the use of their technology, as well as costs to verify insurance eligibility and benefits. Personnel expenses consist of salaries, stock-based compensation, benefits and bonuses.
(f) Payment processing expense
Payment processing expense consists primarily of interchange fees set by payment card networks that are ultimately paid to the card-issuing financial institution, and assessment fees paid to payment card networks, and fees paid to third-party payment processors and gateways.
(g) Sales and marketing
Sales and marketing expense consists primarily of personnel costs, including salaries, stock-based compensation, benefits, bonuses and commission costs for our sales and marketing personnel. Sales and marketing expense also includes costs for advertising, promotional and other marketing activities, as well as certain fees paid to various third-party partners for sales lead generation. Advertising is expensed as incurred. Advertising expense was $1,675, $1,900 and $2,634 for the fiscal years ended January 31, 2025, 2024 and 2023, respectively.
(h) Research and development
Research and development expense consists of costs for the design, development, testing and enhancement of the Company’s products and services that do not meet the criteria for capitalization as internal-use software. These costs consist primarily of personnel costs, including salaries, stock-based compensation, benefits and bonuses for the Company’s development personnel. Research and development expense also includes third-party partner fees and third-party consulting fees.
(i) General and administrative
General and administrative expense consists primarily of personnel costs, including salaries, stock-based compensation, benefits and bonuses for the Company’s executive, finance, legal, human resources, information technology, and other administrative personnel. General and administrative expense also includes consulting, legal, security, accounting services and allocated overhead.
(j) Depreciation
Depreciation represents depreciation expense for PhreesiaPads and Arrivals Kiosks (collectively, Phreesia hardware), data center and other computer hardware and purchased computer software.
(k) Amortization
Amortization primarily represents amortization of the Company’s capitalized internal-use software related to the Company's solutions as well as amortization of acquired intangible assets.
(l) Cash and cash equivalents
The Company considers all highly liquid investments with an original maturity of three months or less at the time of purchase to be cash equivalents. The Company's money market accounts meet the definition of cash equivalents.
(m) Settlement assets
Settlement assets represent amounts due from the Company’s payment processor for customer electronic processing transactions. Settlement assets are typically settled within one to two business days of the transaction date.
(n) Settlement obligations
Settlement obligations represent amounts due to customers for electronic processing transactions that have not been funded by the Company due to timing of settlement from the Company’s payment processor.
(o) Accounts receivable and allowance for doubtful accounts
Accounts receivable represent trade receivables, net of allowances for any potential uncollectible amounts. The Company estimates the allowance for doubtful accounts as its current estimate of expected credit loss over the life
of the instrument. The Company estimates its allowance for doubtful accounts by evaluating the Company’s ability to collect outstanding receivable balances considering various factors, including the age of the balance, the customer’s creditworthiness, payment history and financial condition, the condition of the industry as a whole, as well as expected future changes in credit losses. Write-offs of accounts receivable were not material during the fiscal years ended January 31, 2025, 2024 or 2023. As of January 31, 2025 and 2024, the Company has reserved $1,468 and $1,392, respectively, for the allowance for doubtful accounts.
Accounts receivable also includes unbilled accounts receivable (see Contract balances in Note 5(c)).
(p) Property and equipment
Property and equipment, including PhreesiaPads and Arrivals Kiosks, are stated at cost less accumulated depreciation. Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the related assets. Maintenance and repair costs are charged to operations as incurred while expenditures for major improvements are capitalized.
The Company depreciates property and equipment over the following estimated useful lives:
Useful life
(years)
PhreesiaPads and Arrivals Kiosks3
Computer equipment
3
Computer software
3 to 5
Hardware development
3
Upon sale or disposition of property and equipment, the cost and related accumulated depreciation are removed from their respective accounts and any gain or loss is reflected in the consolidated statements of operations.
(q) Capitalized internal-use software
The Company capitalizes certain costs incurred for the development of computer software for internal use. These costs relate to the development of its solutions. The Company capitalizes the costs during the development of the project, when it is determined that it is probable that the project will be completed, and the software will be used as intended. Costs related to preliminary project activities, post-implementation activities, training and maintenance are expensed as incurred. Internal-use software is amortized on a straight-line basis over its estimated useful life, which is generally three to five years. Management evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. The Company exercises judgment in determining the point at which various projects may be capitalized, in assessing the ongoing value of the capitalized costs and in determining the estimated useful lives over which the costs are amortized. To the extent that the Company changes the manner in which it develops and tests new features and functionalities related to its solutions, assesses the ongoing value of capitalized assets or determines the estimated useful lives over which the costs are amortized, the amount of internal-use software development costs the Company capitalizes and amortizes could change in future periods. Refer to Note 4(d) for further detail on internal-use software costs capitalized during the period.
(r) Business combinations
The Company uses its best estimates and assumptions to accurately assign fair value to the tangible and intangible assets acquired and liabilities assumed at the acquisition date. The Company’s estimates are inherently uncertain and subject to refinement. During the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed, with the corresponding offset to goodwill. The Company continues to collect information and reevaluate these estimates and assumptions quarterly and records any adjustments to its estimates to goodwill provided that the Company is within the measurement period. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the consolidated statements of operations.
When applicable, the consideration transferred for business combinations includes the acquisition-date fair value of deferred consideration liabilities. The Company recognizes interest expense to accrete deferred consideration liabilities to their settlement amount.
(s) Goodwill and intangible assets
Goodwill represents the excess of the consideration transferred over the fair value of the underlying net tangible and intangible assets acquired and liabilities assumed in connection with business combinations accounted for using the acquisition method of accounting. Goodwill is not amortized, but instead goodwill is required to be tested for impairment annually and under certain circumstances. We perform such testing of goodwill in the fourth quarter of each fiscal year, or as events occur or circumstances change that would more likely than not reduce the fair value below its carrying amount.
The testing of goodwill is performed at the reporting unit level. The Company’s reporting unit is the same as its operating segment. The test begins with a qualitative assessment to determine whether it is “more likely than not” that the fair value of the reporting unit is less than its carrying amount. If it is concluded that it is “more likely than not” that the fair value of a reporting unit is less than its carrying amount, the Company performs a quantitative goodwill impairment test by calculating the fair value of the reporting unit and comparing that fair value to the carrying value of the reporting unit. If the estimated fair value of the reporting unit is less than its carrying amount, the Company records a goodwill impairment to reduce the carrying amount of goodwill by the amount by which the fair value of the reporting unit is less than its carrying amount.
All other intangible assets associated with purchased intangibles, consisting of customer relationships, acquired technology, acquired trademarks and acquired licenses, are recorded at acquisition-date fair value less accumulated amortization and are amortized on a straight-line basis over their estimated remaining economic lives.
(t) Long-lived assets
Long-lived assets, such as property and equipment, intangible assets, capitalized internal-use software and operating lease right-of-use assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Company first compares the undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. There were no impairment charges recognized in the consolidated statements of operations during any of the periods presented.
(u) Income taxes
An asset and liability approach is used for financial accounting and reporting of current and deferred income taxes. Deferred income tax assets and liabilities are computed for temporary differences between the financial statement and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future. Such deferred income tax asset and liability computations are based on enacted tax laws and rates applicable to periods in which the differences are expected to affect taxable income or loss. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized. The Company recognizes the financial statement effects of income tax positions taken or expected to be taken in an income tax return when they are more likely than not, based on technical merits, to be sustained upon examination. The Company measures income tax positions at the largest amount of tax benefit that is more likely than not to be realized upon settlement with a taxing authority that has full knowledge of all relevant information. U.S. GAAP also provides guidance on de-recognition, classification, interest and penalties, accounting in the interim periods, and disclosure for income taxes.
The Company reviews and evaluates tax positions in its major jurisdictions and determines whether or not there are uncertain tax positions that require financial statement recognition and the recording of a tax liability or the reduction of a tax asset. The Company would recognize tax related interest and penalties, if applicable, as a component of its provision for income taxes.
(v) Segment information
Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company defines the term “chief operating decision maker” to be its Chief Executive Officer. The Company’s Chief Executive Officer reviews the financial information presented on an entire company basis for purposes of allocating resources and evaluating the Company’s financial performance. Accordingly, we have determined that we operate in a single reportable operating segment. Additionally, substantially all of the Company's revenues and long-lived assets are located in the U.S. See Note 16 - Segments and geographic information - for additional information regarding the Company’s reportable segment.
(w) Stock-based compensation
The Company has stock-based compensation plans under which various types of equity-based awards are granted, including stock options, restricted stock units ("RSUs"), performance-based RSUs, and market-based performance stock units ("PSUs"). The Company recognizes the compensation cost for equity-classified stock-based awards based on the grant-date fair value of the award. That cost is recognized on a straight-line basis over the requisite service period, which is generally the vesting period of the award. For performance-based RSUs, the number of shares expected to vest is estimated at each reporting date based on management's expectations regarding the relevant performance criteria. The Company adjusts stock compensation expense for forfeitures of stock-based compensation awards in the periods the forfeitures occur.
The fair value of stock options is estimated at the time of grant using the Black-Scholes option pricing model, which requires the use of inputs and assumptions such as the exercise price of the option, expected term, risk-free interest rate, expected volatility and dividend yield, and the value of the Company's common stock (which is estimated for awards granted prior to our IPO). The Company does not estimate forfeitures in recognizing stock-based compensation expense. The fair value of the RSUs is equal to the fair value of the Company's common stock on the grant date of the award. The fair value of market-based PSUs is estimated at the time of grant using a Monte Carlo simulation which compares Phreesia's projected total shareholder return ("TSR") to the projected TSR of the Russell 3000 Index (the "Peer Group") and estimates the value of shares to be issued based on the vesting conditions of the PSUs. The Monte Carlo simulation requires the use of inputs and assumptions such as the grant-date closing stock price, simulation, expected volatility, correlation coefficient to the Russell 3000 Index, risk-free interest rate and dividend yield.
During fiscal 2020, the Company adopted the Phreesia, Inc. 2019 Employee Stock Purchase Plan ("ESPP" or "the Plan"). The Company records compensation expense based on the grant date fair value per award granted multiplied by the number of awards granted to the employee for the purchase period. The number of awards granted to the employee for the purchase period is equal to the expected employee contributions divided by 85% of the closing stock price on the offering date.
For liability-classified performance-based stock bonus awards, at the beginning of the year, the Company offers eligible employees the option to elect to receive their year-end performance bonus in stock. Bonuses settled in stock are accounted for as stock-based compensation awards vesting based on a performance condition and are classified as liabilities because they represent a liability settled in a variable number of shares.
During fiscal 2023, the Company adopted the 2023 Inducement Award Plan (the "Inducement Plan"). The Inducement Plan allows the Company to grant equity-based incentive awards including stock options, RSUs and PSUs to employees of acquired companies to induce them to join the Company.
See Note 8 - Equity-based compensation, for additional information on stock-based compensation.
(x) Fair value of financial instruments
Certain assets and liabilities are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for the sale of an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are required to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable:
Level 1—Quoted prices in active markets for identical assets or liabilities.
Level 2—Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data.
Level 3—Unobservable inputs which are supported by little or no market activity and that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques.
The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.
(y) Equity offering costs
The Company capitalizes certain legal, accounting and other third-party fees that are directly associated with in-process equity financings as deferred offering costs until such financings are consummated. After consummation of the equity financing, these costs will be recorded in stockholders’ equity as a reduction of additional paid-in capital generated as a result of the offering, to the extent there are sufficient proceeds. Should the equity financing no longer be considered probable of being consummated, all deferred offering costs would be charged to operating expenses in the accompanying consolidated statements of operations.
(z) Foreign currency
The functional currency of the Company’s subsidiaries and branch in the U.S. and Canada is the U.S. Dollar. The functional currency of the Company’s subsidiary in India is the Indian Rupee. For subsidiaries with functional currencies other than the U.S. Dollar, the Company translates the functional currency financial statements into U.S. Dollars using the exchange rates at the balance sheet date for assets and liabilities, the period average exchange rates for revenues and expenses, and the historical exchange rates for equity transactions. The effects of foreign currency translation adjustments are recorded as accumulated other comprehensive loss within stockholders’ equity in the Company’s consolidated balance sheets. Foreign currency transaction gains and losses to re-measure monetary assets and liabilities into each entity’s functional currency are included in Other income (expense), net in the Company’s consolidated statements of operations.
(aa) Other income (expense), net
Other income (expense), net consists primarily of miscellaneous other income and expense items that are not attributable to the Company’s normal ongoing operations, as well as foreign currency-related gains and losses.
(ab) Legal and loss contingencies
The Company periodically evaluates the development in litigation, claims and other legal matters. The Company records liabilities for loss contingencies arising from claims, assessments, litigation, fines, penalties, and other sources when it is probable that a liability has been incurred and the amount can be reasonably estimated. The Company discloses legal proceedings when it is reasonably possible that a loss has been incurred. Legal costs incurred in connection with loss contingencies are expensed as incurred.
(ac) New accounting pronouncements
Impact of recently adopted accounting pronouncements
In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2023-07, Segment Reporting. The new standard requires enhanced disclosures about significant segment expenses and other segment items and requires companies to disclose all annual disclosures about segments in interim periods. The new standard also permits companies to disclose more than one measure of segment profit or loss, requires disclosure of the title and position of the Chief Operating Decision Maker (“CODM”), and requires companies with a single reportable segment to provide all disclosures required by Topic 280 – Segment Reporting. The new standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. Companies are required to apply ASU 2023-07 retrospectively to all periods presented. The Company adopted ASU 2023-07 for annual periods beginning in the fiscal year ending January 31, 2025. The Company plans to adopt ASU 2023-07 for interim periods beginning in the fiscal year ending January 31, 2026. The disclosure changes that resulted from the adoption of ASU 2023-07 did not materially impact its consolidated financial statements.
During the year ended January 31, 2025, the Company did not adopt any other accounting pronouncements that materially impacted the Company's financial statements.
Recent accounting pronouncements not yet adopted
In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The new standard requires companies to disclose disaggregated information related to income taxes paid and the effective tax rate. The provisions of ASU 2023-09 are effective for annual periods beginning after December 15, 2024; early adoption is permitted for annual statements. The Company plans to adopt ASU 2023-09 for annual periods beginning in the fiscal year ending January 31, 2026. The Company is currently evaluating the impact that ASU 2023-09 will have on its financial statements and related disclosures. The Company does not expect the disclosure changes that result from the adoption of ASU 2023-09 to materially impact its consolidated financial statements.
In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The new standard requires companies to disclose disaggregated information about certain income statement expense line items. The provisions of ASU 2024-03 are effective for annual periods beginning after December 15, 2026, and interim reporting periods in fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company plans to adopt ASU 2024-03 for annual periods beginning in the fiscal year ending January 31, 2028 and for interim periods beginning in the fiscal year ending January 31, 2029. The Company is currently evaluating the impact that ASU 2024-03 will have on its financial statements and related disclosures. The Company does not expect the disclosure changes that result from the adoption of ASU 2024-03 to materially impact its consolidated financial statements.
There are no other recently issued accounting pronouncements the Company has not yet adopted that will
materially impact the Company's consolidated financial statements.
v3.25.0.1
Composition of certain financial statement captions
 12 Months Ended
Jan. 31, 2025
Composition Of Certain Financial Statement [Abstract]  
Composition of certain financial statement captions Composition of certain financial statement captions
(a) Accrued expenses
Accrued expenses at January 31, 2025 and 2024 are as follows:
January 31,
20252024
Payroll-related expenses and taxes$12,016 $8,981 
Stock-based compensation liability6,135 5,890 
Payment processing fees liability6,578 6,008 
Acquisition-related liabilities844 1,888 
Income and other tax liabilities2,503 3,042 
Information technology4,562 5,927 
Other4,822 5,394 
Total$37,460 $37,130 
(b) Other current liabilities and other long-term liabilities
Other current liabilities as of January 31, 2025 and 2024 were $0 and $5,875, respectively. Other long-term liabilities as of January 31, 2025 and 2024 were $185 and $2,857, respectively.
Other current liabilities and other long-term liabilities primarily represent deferred consideration liabilities payable to the former equity holders of ConnectOnCall.com, LLC (“ConnectOnCall”), which the Company acquired during the year ended January 31, 2024. As of January 31, 2025, the balance of other long-term liabilities was $185 and related to other post-employment benefits. See Note 17 - Acquisitions for additional information regarding the acquisition of ConnectOnCall.
On January 31, 2025, the Company and the former equity holders of ConnectOnCall entered into a settlement agreement which resulted in a reduced payment of $4,950 in full settlement of the deferred consideration liabilities. As of January 31, 2025, the outstanding balance of the deferred consideration liabilities was $0. The settlement agreement was a result of indemnification claims made by the Company against the former equity holders of ConnectOnCall stemming from the Company’s October 2023 agreement to acquire the outstanding equity of ConnectOnCall.
In connection with the settlement, the Company recorded a gain of $2,345 within Other income (expense), net. The Company included the gain as an adjustment to reconcile net loss to net cash provided by operating activities for the fiscal year ended January 31, 2025. The Company presented $4,581 and $369 of the settlement, respectively, within cash used for financing activities and cash provided by operating activities in its statements of cash flows for the fiscal year ended January 31, 2025.
(c) Property and equipment
Property and equipment at January 31, 2025 and 2024 are as follows:
January 31,
20252024
PhreesiaPads and Arrivals Kiosks$15,763 $18,610 
Computer equipment
77,704 62,888 
Computer software
14,114 11,687 
Hardware development
575 576 
Total property and equipment
$108,156 $93,761 
Less: accumulated depreciation(84,505)(76,859)
Property and equipment — net$23,651 $16,902 
Depreciation expense related to property and equipment amounted to $14,183, $17,584 and $17,988 for the fiscal years ended January 31, 2025, 2024 and 2023, respectively.
Property and equipment - net and related depreciation expense includes assets acquired under finance leases. Assets acquired under finance leases included in computer equipment were $49,009 and $35,250 at January 31, 2025 and 2024, respectively. Accumulated amortization of assets under finance leases was $34,815 and $27,399 at January 31, 2025 and 2024, respectively. See Note 10 - Leases for additional information regarding finance leases.
(d) Capitalized internal-use software
For the fiscal years ended January 31, 2025, 2024 and 2023, the Company capitalized $16,846, $19,521 and $23,604 of costs related to the Company's solutions, respectively.
During the fiscal years ended January 31, 2025, 2024 and 2023 amortization expense related to capitalized internal-use software was $10,222, $9,527 and $5,945, respectively.
(e) Intangible assets and goodwill
The following presents the details of intangible assets as of January 31, 2025 and 2024.
Useful LifeJanuary 31,
(years)20252024
Acquired technology
5 to 7
$9,310 $9,310 
Customer relationship
7 to 15
17,940 17,940 
License156,200 6,200 
Trademarks153,100 3,100 
Total intangible assets, gross carrying value$36,550 $36,550 
Less: accumulated amortization(8,407)(4,925)
Net carrying value$28,143 $31,625 
The weighted average remaining useful life for acquired technology in years was 5.1 and 6.0 as of January 31, 2025 and 2024, respectively. The remaining useful life for customer relationships in years was 11.6 and 12.4 as of January 31, 2025 and 2024, respectively. The remaining useful life for the license to the Patient Activation Measure ("PAM"®) in years was 11.8 and 12.8 as of January 31, 2025 and 2024, respectively. The remaining useful life for the trademarks in years was 13.5 and 14.5 as of January 31, 2025 and 2024, respectively.
Amortization expense associated with intangible assets for the fiscal years ended January 31, 2025, 2024 and 2023 was $3,481, $2,376 and $1,371, respectively.
The estimated amortization expense for intangible assets for the next five years and thereafter is as follows as of January 31, 2025:
January 31, 2025
2026$3,450 
20273,157 
20283,157 
20293,057 
Thereafter15,322 
Total$28,143 
The following table presents a roll-forward of goodwill for the years ended January 31, 2025 and 2024:
Balance, January 31, 2023$33,736 
Goodwill acquired during the year ended January 31, 202442,109 
Balance, January 31, 2024$75,845 
Balance, January 31, 2025$75,845 
During the quarter ended October 31, 2023, the Company completed its quarterly triggering event assessments and determined that the decline in the market value of its publicly-traded stock, which resulted in a corresponding decline in its market capitalization, constituted a triggering event. Due to the decline in the Company’s market capitalization during the quarter ended October 31, 2023 the Company evaluated whether changes in the
Company’s market capitalization indicated that the carrying value of goodwill in the Company’s single reporting unit was impaired. As of October 31, 2023, the Company’s market capitalization exceeded the carrying value of the Company’s equity by over 100%. As a result, the Company did not believe that changes in the Company’s market capitalization during the quarter ended October 31, 2023 indicated that that the carrying amount of the Company’s goodwill was impaired as of October 31, 2023.
As of January 31, 2024, the Company's market capitalization also exceeded the carrying amount of the Company's equity by over 100%. As a result, the Company did not believe that the Company’s goodwill was impaired as of January 31, 2024. No other triggering events occurred during fiscal 2024 or 2025.
As of January 31, 2025, the Company determined that it was more likely than not that the fair value of its single reporting unit exceeded its carrying value. As a result, the Company did not believe that the Company’s goodwill was impaired as of January 31, 2025.
The Company did not record any impairments of goodwill during the years ended January 31, 2025, 2024 or 2023.
(f) Accounts receivable
Accounts Receivable as of January 31, 2025 and 2024 are as follows:
January 31,
20252024
Billed$70,342 $62,880 
Unbilled4,743 3,375 
Total accounts receivable, gross$75,085 $66,255 
Less: accounts receivable allowances(1,468)(1,392)
Total accounts receivable$73,617 $64,863 
Activity in the Company's allowance for doubtful accounts was as follows for the years ended January 31, 2025 and 2024:
Balance, January 31, 2023$1,053 
Bad debt expense377 
Increases due to acquisitions681 
Write-offs and adjustments(719)
Balance, January 31, 2024$1,392 
Bad debt expense1,054 
Write-offs and adjustments(978)
Balance, January 31, 2025
$1,468 
The Company’s allowance for doubtful accounts represents the current estimate of expected future losses based on prior bad debt experience as well as considerations for specific customers as applicable. The Company's accounts receivable are considered past due when they are outstanding past the due date listed on the invoice to the customer. Write-offs of accounts receivable were not material during the fiscal years ended January 31, 2025, 2024 or 2023
(g) Prepaid and other current assets
Prepaid and other current assets as of January 31, 2025 and 2024 are as follows:
January 31,
20252024
Prepaid software and business systems$6,849 $4,922 
Prepaid data center expenses3,558 3,872 
Prepaid insurance912 1,257 
Other prepaid expenses and other current assets4,552 4,410 
Total prepaid and other current assets$15,871 $14,461 
(h) Cloud computing implementation costs
The Company enters into cloud computing service contracts to support its sales and marketing, product development and administrative activities. The Company capitalizes certain implementation costs for cloud computing arrangements that meet the definition of a service contract. The Company includes these capitalized implementation costs within prepaid expenses and other current assets and within other assets on its consolidated balance sheets. Once placed in service, the Company amortizes these costs over the remaining subscription term to the same caption in the consolidated statements of operations as the related cloud subscription. Capitalized implementation costs for cloud computing arrangements accounted for as service contracts were $1,532 as of January 31, 2025 and 2024, respectively. Accumulated amortization of capitalized implementation costs for these arrangements was $1,432 and $1,021 as of January 31, 2025 and 2024, respectively.
(i) Other income (expense), net
Other income (expense), net for the years ended January 31, 2025, 2024 and 2023 was income of $1,956, income of $44 and expense of $175, respectively. Other income, net for the year ended January 31, 2025 included a $2,345 gain on the ConnectOnCall settlement, partially offset by foreign exchange losses. See Note 4 (b) above for additional information regarding the ConnectOnCall settlement. Other income (expense), net for the years ended January 31, 2024 and 2023 were composed primarily of foreign exchange gains and losses, as well as miscellaneous other income and expense.
v3.25.0.1
Revenue and contract costs
 12 Months Ended
Jan. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue and contract costs Revenue and contract costs
(a) Disaggregation of revenue
Revenue from the Company’s contracts with its customers are disaggregated by service offering on the accompanying consolidated statements of operations. The Company’s core service offerings are subscription and related services, payment processing fees, digital marketing solutions sold to life sciences companies and other organizations. In addition, substantially all of the Company’s revenue is derived from customers in the United States.
(b) Remaining performance obligations
The Company does not disclose the value of unsatisfied performance obligations as the majority of its contracts relate to either contracts with an original term of one year or less or contracts with variable consideration (i.e., the Company’s payment processing fees revenue).
(c) Contract balances
Unbilled accounts receivable is a contract asset related to the delivery of the Company’s subscription and related services and for its life sciences revenue for which the related billings will occur in a future period. Contract assets and contract liabilities are reported on a net basis for each customer contract. Deferred revenue is a contract liability primarily related to billings in advance of revenue recognition from the Company's subscription and life sciences services and, to a lesser extent, professional services and other revenues described above. Deferred revenue is recognized as the Company satisfies its performance obligations. The Company generally invoices its customers in monthly or quarterly installments for subscription services. Accordingly, the deferred revenue balance does not generally represent the total contract value of a subscription arrangement. Deferred revenue that will be recognized during the succeeding 12-month period is recorded as current deferred revenue on the accompanying consolidated balance sheets. Deferred revenue that will be recognized subsequent to the succeeding 12-month period is recorded as long-term deferred revenue on the accompanying consolidated balance sheets.
The following table represents a roll-forward of contract assets:
January 31,
20252024
Beginning balance$3,375 $989 
Amount transferred to receivables from beginning balance of contract assets(3,375)(989)
Contract asset additions, net of reclassification to receivables4,743 3,375 
Ending balance$4,743 $3,375 
The following table represents a roll-forward of deferred revenue:
 January 31,
20252024
Beginning balance$24,210 $17,813 
Revenue recognized that was included in deferred revenue at the beginning of the period(23,335)(17,388)
Deferred revenue added from acquisitions— 5,665 
Other current year activity in deferred revenue32,002 18,120 
Ending balance$32,877 $24,210 
(d) Cost to obtain a contract
The Company capitalizes certain incremental costs to obtain customer contracts and amortizes these costs over a period of benefit that the Company has estimated to be three to five years. The Company determined the period of benefit by taking into consideration its customer contracts, its technology and other factors. Amortization expense is included in sales and marketing expenses in the accompanying consolidated statements of operations and totaled $1,815 and $1,056 for the years ended January 31, 2025 and 2024, respectively. The Company periodically reviews these deferred contract acquisition costs to determine whether events or changes in circumstances have occurred that could impact the period of benefit. During the year ended January 31, 2025, the Company updated its estimate of the period of benefit from five years to three years for certain deferred contract acquisition costs. The Company recorded $1,198 of additional amortization during the year ended January 31, 2025 to amortize deferred contract amortization costs over their updated remaining period of benefit. There were no impairment losses recorded during the periods presented.
The following table represents a roll-forward of deferred contract acquisition costs:
January 31,
20252024
Beginning balance$1,754 $2,810 
Additions to deferred contract acquisition costs1,045 — 
Amortization of deferred contract acquisition costs(1,815)(1,056)
Ending balance$984 $1,754 
Deferred contract acquisition costs, current (to be amortized in next 12 months)$401 $768 
Deferred contract acquisition costs, non-current583 986 
Total deferred contract acquisition costs$984 $1,754 
v3.25.0.1
Finance leases and other debt
 12 Months Ended
Jan. 31, 2025
Debt Disclosure [Abstract]  
Finance leases and other debt Finance leases and other debt
As of January 31, 2025 and 2024, the Company had the following outstanding finance lease liabilities and other debt:
January 31,
20252024
Finance leases$14,256 $8,309 
Financing arrangements1,913 3,124 
Accrued interest and payments24 23 
Total finance lease liabilities and other debt$16,193 $11,456 
Less: current portion of finance lease liabilities and other debt(8,043)(6,056)
Long-term finance lease liabilities and other debt$8,150 $5,400 
(a) Finance leases
See Note 10 - Leases for more information regarding finance leases.
(b) Financing agreements
In June 2023, the Company entered into a software licensing financing agreement (the "financing agreement") in order to finance its software and service licenses. As of January 31, 2025, there was $1,913 in outstanding principal and interest due under the financing agreement. The financing agreement requires the Company to pay $123 per month for 36 months beginning August 2023. The effective interest rate on the financing agreement is 10.5% per annum.
(c) Amended and Restated Loan and Security Agreement with Silicon Valley Bank (“SVB”)
In February 2019 (the "Effective Date"), the Company entered into the Amended and Restated Loan and Security Agreement (the "First SVB Facility") that provided for a $20,000 term loan.
In May 2020 (the "Second SVB Effective Date"), the Company entered into the Second Amended and Restated Loan and Security Agreement (the “Second SVB Facility”) to modify the First SVB Facility. The Second SVB Facility provided for a revolving credit facility with an initial borrowing capacity of $50,000.
In March 2022 (the "Third SVB Effective Date"), the Company entered into a First Loan Modification Agreement to the Second SVB Facility (as amended, the "Third SVB Facility") to increase the borrowing capacity from $50,000 to $100,000 and to reduce the interest rate on the facility. Borrowings under the Third SVB Facility were payable in May 2025. Borrowings under the Third SVB Facility bore interest, which was payable monthly, at a floating rate equal to the greater of 3.25% or the Wall Street Journal Prime Rate minus 0.5%. In addition to principal and interest due under the revolving credit facility, the Company was required to pay an annual commitment fee of approximately $250 per year and a quarterly fee of 0.15% per annum of the average unused revolving line under the facility.
In December 2023, the Company terminated the Third SVB Facility. The Company recorded a $1,118 loss on extinguishment of debt in connection with the termination of the Third SVB Facility.
(d) Capital One Credit Agreement
In December 2023, the Company entered into a Credit Agreement (the "Credit Agreement") for a new 5-year $50,000 senior secured asset-based revolving credit facility ("Capital One Credit Facility") maturing in December 2028, which includes a swingline sub-limit of at least $5,000 and a letter of credit sub-limit of at least $5,000. The new Capital One Credit Facility was entered into with Capital One acting as administrative agent and replaced our previous senior secured revolving credit facility with SVB. The Capital One Credit Facility will give the Company additional financial flexibility, through the facility’s five-year term. The facility is available to the Company for working capital and general corporate purposes. The Capital One Credit Facility bears interest at a rate per annum based on the Secured Overnight Financing Rate (“SOFR”) or a Base Rate as specified in the Credit Agreement. As of January 31, 2025, the interest rate on the Capital One Credit Facility was 7.4%. In addition to principal and interest due under the Capital One Credit Facility, the Company is required to pay an annual fee equal to 0.25% of the unused balance of the facility. Additionally, the Company incurred creditor and third-party fees of $778 upon entering into the Capital One Credit Facility. The Company recorded the fees to deferred financing costs, included within
other assets on its consolidated balance sheets, and will amortize the costs over the term of the Capital One Credit Facility.
The obligations under the Capital One Credit Facility are secured by a first priority security interest in substantially all of the tangible and intangible assets at certain of the Company's U.S. subsidiaries, and by pledges of the equity of certain of the Company's U.S. subsidiaries, in each case subject to customary exclusions.
The Capital One Credit Facility includes financial covenants including, but not limited to requiring the Company to maintain minimum Consolidated EBITDA, minimum Liquidity, a minimum Consolidated Fixed Charge Coverage Ratio a restriction on the amount of dividends and limiting the amount of cash and cash equivalents the Company holds outside Capital One, each as defined in the Credit Agreement. The Company was in compliance with all covenants related to the Credit Agreement as of January 31, 2025.
Maturities of finance leases and other debt in each of the next five years and thereafter are as follows:
 TotalFinance LeasesOther Debt
Fiscal year ending January 31,
2026$8,043 $6,825 $1,218 
20276,033 5,314 719 
20282,117 2,117 — 
Total maturities of finance leases and other debt$16,193 $14,256 $1,937 
The following table presents the components of interest income, net:
Fiscal years ended January 31,
 202520242023
Interest expense (1)
$(2,347)$(1,854)$(1,411)
Interest income2,677 4,065 2,475 
Interest income, net$330 $2,211 $1,064 
(1) Includes amortization of deferred financing costs and original issue discount
v3.25.0.1
Stockholders' equity
 12 Months Ended
Jan. 31, 2025
Equity [Abstract]  
Stockholders' equity Stockholders' equity
(a) Common stock
The Company closed its initial public offering (“IPO”) on July 22, 2019 and filed an Amended and Restated Certificate of Incorporation authorizing the issuance of up to 500,000,000 shares of common stock, par value $0.01 per share.
In connection with the acquisition of Comsort, Inc. d/b/a MediFind (“MediFind”), on June 30, 2023, the Company issued 150,786 shares of its common stock, to the former owners of MediFind as partial consideration to acquire MediFind. On July 3, 2023, the Company filed a prospectus supplement to register the shares with the SEC.
In connection with the acquisition of Access eForms, LLC (“Access”), on August 11, 2023, the Company issued 1,096,436 shares of its common stock, to the former members of Access as partial consideration to acquire Access. On August 14, 2023, the Company filed a prospectus supplement to register the shares with the SEC.
(b) Treasury stock
The Company's equity-based compensation plan allows for the grant of non-vested stock options, restricted stock units (“RSUs”) and total shareholder return ("TSR") performance-based stock units ("PSUs") to its employees pursuant to the terms of its stock option and incentive plans (See Note 8). Until September 2023, under the provision of the plans, for RSU and PSU awards, unless otherwise elected, employee participants fulfilled their related income tax withholding obligation by having shares withheld at the time of vesting. The shares withheld were then transferred to the Company's treasury stock at cost.
Beginning in September 2023, employee participants fulfilled their related tax withholding obligation by selling vested shares at the time of vesting in non-discretionary transactions pursuant to the Company’s mandatory sell-to-cover policy (sell-to-cover). The proceeds from the employee participants’ sales of vested shares are remitted to the Company to cover the tax withholding payments to tax authorities. No shares are transferred to the Company’s treasury stock in connection with tax withholdings funded by an employee participant’s sale of vested shares to cover taxes.
(c) Accumulated other comprehensive loss
Activity in accumulated other comprehensive loss was as follows for the fiscal year ended January 31, 2025:
 Foreign Currency Translation AdjustmentAccumulated Other Comprehensive Loss
Balance as of January 31, 2024$— $— 
Other comprehensive loss(51)(51)
Balance as of January 31, 2025
$(51)$(51)
There was no balance or activity in accumulated other comprehensive loss prior to January 31, 2024. The amounts set forth in the table above are presented net of tax. There were no amounts reclassified from accumulated other comprehensive loss into net loss during the fiscal year ended January 31, 2025.
v3.25.0.1
Equity-based compensation
 12 Months Ended
Jan. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Equity-based compensation Equity-based compensation
(a) Equity award plans
In January 2018, the Board of Directors adopted the Company’s 2018 Stock Option Plan as amended, (the "2018 Stock Option Plan") which provided for the issuance of options to purchase up to 3,048,490 shares of the Company’s common stock to officers, directors, employees, and consultants. The option exercise price per share is determined by the Board of Directors based on the estimated fair value of the Company’s common stock.
In June 2019, the Board of Directors adopted the Company’s 2019 Stock Option and Incentive Plan (the "2019 Plan"), which replaced the 2018 Stock Option Plan upon the completion of the IPO. The 2019 Plan allows the Compensation Committee of the Board of Directors (the "Compensation Committee") to make equity-based incentive awards including stock options, RSUs and PSUs to the Company’s officers, employees, directors, and consultants. The initial reserve for the issuance of awards under this plan was 2,139,683 shares of common stock. The initial number of shares reserved and available for issuance automatically increased on February 1, 2020 and automatically increases each February 1 thereafter by 5% of the number of shares of common stock outstanding on the immediately preceding January 31 (or such lesser number of shares determined by the Compensation Committee). As the 2018 Stock Option Plan was replaced by the 2019 Plan, all grants of stock options, RSUs and PSUs during the years ended January 31, 2025, 2024 and 2023 were made pursuant to the 2019 plan, respectively.
In June 2019, the Board of Directors also adopted the Company's 2019 Employee Stock Purchase Plan (the "ESPP"), which became effective immediately prior to the effectiveness of the registration statement for the Company’s initial public offering. The total shares of common stock initially reserved under the ESPP was limited to 855,873 shares.
The Company's incentive bonuses allow eligible employees to elect to receive all or a portion of their incentive compensation in the form of immediately vested restricted stock units instead of cash.
In July 2023, the Board of Directors also adopted the Company’s 2023 Inducement Award Plan (the “Inducement Plan”). The Inducement Plan allows the Compensation Committee of the Board of Directors (the "Compensation Committee") or its delegates to make equity-based incentive awards including stock options, RSUs and PSUs to employees of acquired companies to induce them to join the Company. The total shares of common stock initially reserved under the Inducement Plan was 500,000 shares.
As of January 31, 2025, there are 5,120,841 shares available for future grant pursuant to the 2019 Plan after factoring in the automatic increase that occurs on February 1 of each fiscal year, as well as an additional 279,958 shares available for future grant pursuant to the ESPP. The ESPP has two six-month offering periods each calendar year beginning in January and July. The ESPP allows eligible employees to purchase shares of the Company’s common stock at a 15% discount through payroll deductions. As of January 31, 2025, there were 12,747 outstanding restricted stock units and 482,658 shares available for future grant under the Inducement Plan.
(b) Summary of stock-based compensation
The following table sets forth stock-based compensation by type of award:
For the fiscal years ended
January 31,
 202520242023
RSUs$44,696 $53,474 $42,214 
PSUs13,174 9,206 7,282 
Liability awards9,316 9,047 7,641 
ESPP1,149 1,256 1,521 
Stock options2 45 1,489 
Total stock-based compensation$68,337 $73,028 $60,147 
The following table sets forth the presentation of stock-based compensation in the Company's consolidated financial statements:
For the fiscal years ended
January 31,
 202520242023
Stock-based compensation expense recorded to additional paid-in capital$59,021 $63,981 $52,506 
Stock-based compensation expense recorded to accrued expenses9,316 9,047 7,641 
Total stock-based compensation$68,337 $73,028 $60,147 
Less: stock-based compensation expense capitalized as internal-use software(1,362)(1,415)(1,372)
Stock-based compensation expense per consolidated statements of operations$66,975 $71,613 $58,775 
The Company has not recognized and does not expect to recognize in the foreseeable future, any tax benefit related to employee stock-based compensation expense. During the year ended January 31, 2025, the Company reduced stock compensation expense by $1,333, for improbable-to-probable modifications of stock compensation awards.
(c) Restricted stock units
The Company has issued RSUs to employees and independent directors that vest based on a time-based condition. RSUs granted to employees prior to January 2021, pursuant to a time-based condition, 10% of the restricted stock units vest after one year, 20% vest after two years, 30% vest after three years and 40% vest after four years (“10/20/30/40”). The restricted stock units expire seven years from the grant date.
During the year ended January 31, 2023, the Company modified the vesting of RSUs granted subsequent to January 1, 2021 for employees other than its named executive officers listed in its 2022 proxy statement ("2022 NEOs") and other members of its executive management team. Pursuant to the modified vesting schedule, RSUs granted after January 1, 2021 for employees other than 2022 NEOs and other members of its executive management team, vest 6.25% each quarter over four years based on continued service. For 2022 NEOs and other members of the Company's executive management team, RSUs granted from January 1, 2022 through December 31, 2022 vest 6.25% each quarter over four years based on continued service. RSUs granted during fiscal 2024 vest 25% each year over four years based on continued service and RSUs granted during fiscal 2025 generally vest following a 10/20/30/40 vesting schedule.
Additionally, at the beginning of each fiscal year, the Company provides certain employees the option to settle their incentive bonus in immediately vested RSUs. RSUs granted to settle bonus awards are included in RSUs granted and vested in the table below. See section (g) Liability awards below for additional information regarding share-settled bonus awards.
Restricted stock units
Unvested, January 31, 20223,133,839 
Granted during year
2,907,838 
Vested(1,626,679)
Forfeited and expired(497,245)
Unvested, January 31, 20233,917,753 
Granted during year (1)
2,419,679 
Vested(1,912,432)
Forfeited and expired(624,790)
Unvested, January 31, 20243,800,210 
Granted during year
2,135,391 
Vested(1,897,716)
Forfeited and expired (439,937)
Unvested, January 31, 2025
3,597,948 
(1) Includes 24,125 awards granted pursuant to the 2023 Inducement Award Plan.
As of January 31, 2025, there is $79,743 remaining of total unrecognized compensation costs related to these awards. The total unrecognized costs are expected to be recognized over a weighted-average term of 2.6 years.
For the years ended January 31, 2025, 2024 and 2023, the weighted average grant date fair value of restricted stock units granted was $21.93, $29.08 and $26.79 respectively.
(d) Stock options
Options granted under the equity award plans have a maximum term of ten years and vest over a period determined by the Board of Directors (generally four years from the date of grant or the commencement of the grantee’s employment with the Company). Options generally vest 25% at the one-year anniversary of the grant date, after which point they generally vest pro rata on a monthly basis.
Stock option activity for the fiscal years ended January 31, 2025, 2024 and 2023 is as follows:
Number of
options		Weighted-
average
exercise price		Weighted-
average
remaining
contractual life
(in years)		Aggregate intrinsic
value
Outstanding — January 31, 20221,705,150 $6.01 
Granted during the year— $— 
Exercised(311,743)$4.92 
Forfeited and expired(8,214)$4.68 
Outstanding and expected to vest — January 31, 2023
1,385,193 $6.26 5.06$43,341 
Outstanding — January 31, 20231,385,193 $6.26 
Granted during the year— $— 
Exercised(249,247)$3.42 
Forfeited and expired(12,508)$5.87 
Outstanding and expected to vest — January 31, 2024
1,123,438 $6.89 4.54$20,884 
Outstanding — January 31, 20241,123,438 $6.89 
Granted during the year— $— 
Exercised(220,523)$4.64 
Forfeited and expired(3,534)$20.67 
Outstanding and expected to vest — January 31, 2025
899,381 $7.39 3.66$18,952 
Exercisable — January 31, 2025
899,381 $7.39 3.66$18,952 
Amount vested during year ended January 31, 2025
— $— 
The aggregate intrinsic value represents the total pre-tax intrinsic value (the difference between the Company’s estimated stock price at the time of exercise and the exercise price, multiplied by the number of related in-the-money options) that would have been received by the option holders had they exercised their options at the end of the period. This amount changes based on the market value of the Company’s common stock. The total intrinsic value of options exercised for the years ended January 31, 2025, 2024 and 2023 (based on the difference between the Company’s estimated stock price on the exercise date and the respective exercise price, multiplied by the number of options exercised), was $4,210, $6,059 and $6,970, respectively.
As of January 31, 2025, all compensation cost related to stock options issued to employees has been recorded and there is no unrecognized compensation cost remaining related to stock options issued to employees.
(e) TSR performance-based stock units ("PSUs")
The Company grants PSUs to certain members of its management team. PSUs vest over approximately three years from the grant date upon satisfaction of both time-based requirements and market targets based on Phreesia's TSR relative to the TSR of each member of the Russell 3000 Index (the "Peer Group"). Depending on the percentage level at which the market-based condition is satisfied, the number of shares vesting could be between 0% and 220% of the number of PSUs originally granted. PSUs granted during the years ended January 31, 2025, 2024 and 2023 vest in a maximum of 220% of the number of PSUs originally granted. To earn the target number of PSUs (which represents 100% of the number of PSUs granted), the Company must perform at the 55th percentile for PSUs granted in fiscal 2025 and the 60th percentile for PSUs granted in fiscal 2024 and 2023, with the maximum
number of PSUs earned if the Company performed at least at the 90th percentile. If Phreesia's TSR for the performance period is negative, the maximum number of PSUs that can be earned will be capped at 100%.
The Company estimated the fair value of the PSUs using a Monte Carlo Simulation model that projected TSR for Phreesia and each member of the Peer Group over the performance period. The Company recognizes the grant date fair value of PSUs as compensation expense over the vesting period.
The fair value of the PSUs granted during the fiscal years ended January 31, 2025, 2024 and 2023, respectively, was estimated using the following assumptions:
Fiscal years ended January 31,
 202520242023
Correlation coefficient0.5305 0.5238 0.4957 
Valuation date stock price$25.19 $22.94 $35.41 
Simulation term3.0 years3.0 years3.0 years
Volatility64.18 %64.58 %64.98 %
Risk-free rate4.24 %4.05 %3.84 %
Dividend yield— %— %— %
Weighted average fair value of grants
$42.86 $36.42 $56.52 
Market-based PSU activity for the years ended January 31, 2025, 2024 and 2023 are as follows:
Performance
stock units
Outstanding, February 1, 2022396,216 
Granted during the year ended January 31, 2023255,572 
Vested— 
Forfeited and expired(3,555)
Outstanding, February 1, 2023648,233 
Granted during the year ended January 31, 2024576,680 
Vested(67,251)
Forfeited(117,443)
Outstanding, February 1, 20241,040,219 
Granted during the year ended January 31, 2025
434,269 
Vested(255,269)
Forfeited(14,248)
Outstanding, January 31, 2025
1,204,971 
During the fiscal year ended January 31, 2025, the PSUs granted in fiscal 2022 vested at a 53.50% payout based upon the relative TSR performance achieved during the performance period, which was approved by the Company’s Board of Directors.
As of January 31, 2025, unrecognized compensation cost for the PSUs was $34,528, to be recognized over a weighted average remaining vesting period of 2.4 years, subject to the participants' continued employment with the Company.
(f) Employee stock purchase plan
The ESPP is a compensatory plan because it provides participants with terms that are more favorable than those offered to other holders of the Company's common stock. Employees purchase shares at the lesser of (1) 85% of the closing stock price on the first day of the offering period or (2) 85% of the closing stock price on the last day of the offering period. The ESPP is structured as a qualified employee stock purchase plan under Section 423 of the U.S. Internal Revenue Code of 1986.
The fair value of shares granted under the ESPP during the year ended January 31, 2025 was estimated using a Black-Scholes pricing model with the following assumptions:
Year ended
January 31, 2025		Year ended
January 31, 2024		Year ended
January 31, 2023
Risk-free interest rate
4.74 %5.30 %3.68 %
Expected dividends
nonenonenone
Expected term (in years)
0.49 years0.49 years0.47 years
Volatility
52.96 %62.41 %74.78 %
During the fiscal years ended January 31, 2025, 2024 and 2023, the Company issued 158,262, 141,121 and 162,154 shares of common stock, respectively, for the ESPP. In connection with these issuances, during the years ended January 31, 2025, 2024 and 2023 the Company recorded increases of $2,819, $3,235 and $3,470, respectively, to additional paid-in capital within stockholders' equity. As of January 31, 2025, unrecognized compensation cost related to the ESPP was $463, to be recognized over the next five months.
(g) Liability awards
At the beginning of each year, the Company provides eligible employees the option to elect to receive all or a portion of their incentive compensation in the form of immediately vested restricted stock units instead of cash. Restricted stock units issued to settle liability awards are covered by the 2019 Plan. Share-settled bonus awards will be settled at a value equal to 115% of the cash bonuses. These share-settled bonus awards vest based on the achievement of the Company’s predefined performance targets. As share-settled bonus awards will be settled in a variable number of shares, the Company classifies share-settled bonus awards as liabilities, within accrued expenses in the accompanying consolidated balance sheets until they are settled in shares and included in stockholders' equity. The Company's share-settled bonus awards are settled semiannually. During the year-ended January 31, 2025, the Company settled $9,071 of share-settled bonus awards by issuing 406,427 immediately vested RSUs. See (c) Restricted Stock Units above for additional discussion regarding RSUs.
v3.25.0.1
Fair value measurements
 12 Months Ended
Jan. 31, 2025
Fair Value Disclosures [Abstract]  
Fair value measurements Fair value measurements
The following table presents information about the Company's assets and liabilities that are measured at fair value as of January 31, 2025 and indicates the classification of each item within the fair value hierarchy:
 Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)		Balance as of January 31, 2025
 
Money market mutual funds$66,588 $— $— $66,588 
Total assets$66,588 $— $— $66,588 
The following table presents information about the Company's assets and liabilities that are measured at fair value as of January 31, 2024 and indicates the classification of each item within the fair value hierarchy:
 Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)		Balance as of January 31, 2024
 
Money market mutual funds$58,942 $— $— $58,942 
Total assets$58,942 $— $— $58,942 

The carrying value of the Company’s short-term financial instruments, including accounts receivable and accounts payable approximate fair value due to the short-term nature of these instruments. As of January 31, 2025, the carrying value of the Company's debt approximated fair value because the interest rates approximated market rates and the related maturities are relatively short-term.
The Company did not have any transfers of assets and liabilities between levels of the fair value measurement hierarchy during both the years ended January 31, 2025 and 2024.
v3.25.0.1
Leases
 12 Months Ended
Jan. 31, 2025
Leases [Abstract]  
Leases Leases
(a) Phreesia as Lessee
The Company leases third-party data center space and office space in the U.S under operating leases that expire on various dates through July 2027. Certain of these arrangements have escalating rent payment provisions or optional renewal clauses. The table below only considers lease obligations through the renewal date as the Company is not reasonably certain to elect the option to extend its leases beyond the option date. No arrangements contain residual value guarantees or restrictions imposed on the leases. The Company is also committed to pay a portion of the actual operating expenses under certain of these lease agreements. These operating expenses are not included in the table below.
The Company has also entered into various finance lease arrangements for computer equipment. These agreements are typically for three to five years and are secured by the underlying equipment.
Supplemental balance sheet information related to operating and finance leases as of January 31, 2025 and 2024 was as follows:
January 31,
20252024
Operating leases:
Lease right-of-use assets$1,477 $266 
Lease liabilities, current$964 $393 
Lease liabilities, non-current646 134 
Total operating lease liabilities$1,610 $527 
Finance leases:
Property and equipment, at cost$49,009 $35,250 
Accumulated depreciation(34,815)(27,399)
Property and equipment, net$14,194 $7,851 
Lease liabilities, current (included in Current portion of finance lease liabilities and other debt)$6,825 $4,958 
Lease liabilities, non-current (included in Long-term finance lease liabilities and other debt)7,431 3,351 
Total finance lease liabilities$14,256 $8,309 
For office leases and leased equipment, the Company has elected the practical expedient to not separate lease and non-lease components, and as such, the variable lease cost primarily represents variable payments such as common area maintenance, utilities and equipment maintenance.
As of January 31, 2025, for operating leases, the weighted-average remaining lease term is 1.8 years and the weighted-average discount rate is 8.0%. As of January 31, 2025, for finance leases, the weighted-average remaining lease term is 1.6 years and the weighted-average discount rate is 7.5%.
The components of lease expense for the years ended January 31, 2025, 2024 and 2023 were as follows:
Fiscal years ended
January 31,
202520242023
Operating leases:
Operating lease cost$983 $740 $1,835 
Variable lease cost— 47 62 
Total operating lease cost$983 $787 $1,897 
Finance leases:
Amortization of right-of-use assets$7,416 $6,742 $5,632 
Interest on lease liabilities980 580 368 
Total finance lease cost$8,396 $7,322 $6,000 
Amortization of right-of-use assets for finance leases is included within depreciation expense on the Company's consolidated statements of operations.
The following represents a schedule of maturing lease commitments for operating and finance leases as of January 31, 2025:
January 31, 2025
OperatingFinance
Maturity of lease liabilities
Fiscal year ending January 31,
2026$1,053 $7,705 
2027583 5,688 
202885 2,169 
Total future minimum lease payments$1,721 $15,562 
Less: interest(111)(1,306)
Present value of lease liabilities$1,610 $14,256 
Other supplemental cash flow information for the years ended January 31, 2025, 2024 and 2023 was as follows:
Fiscal years ended
January 31,
202520242023
Supplemental cash flow information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash used for operating leases$1,023 $1,238 $1,347 
Operating cash used for finance leases$980 $535 $396 
Financing cash used for finance leases$7,811 $6,779 $5,731 
(b) Phreesia as Lessor
In connection with the patient intake and registration process, Phreesia offers its customers the ability to lease PhreesiaPads and Arrivals Kiosks along with their monthly subscription. The Company accounts for these rentals as leases. The Company elected the practical expedient to not separate lease and non-lease components. More specifically, all contractual hardware maintenance is included with the hardware lease components. The leases contain no variable lease payments, no options to extend the lease that are reasonably certain to be exercised, and do not give the lessee an option to purchase the hardware at the end of the lease term. Additionally, the lease term does not represent a major part of the remaining economic life of the assets, and the present value of the lease payments does not equal or exceed substantially all of the fair value of the assets. As a result, all leased hardware in the SaaS arrangements is classified as operating leases.
During the years ended January 31, 2025, 2024 and 2023, the Company recognized $9,329, $10,307 and $10,197, respectively in subscription and related services revenue related to the leasing of PhreesiaPads and Arrivals Kiosks.
Future lease payments receivable under operating leases were immaterial as of January 31, 2025 and 2024, except for those with terms of one year or less.
Leases Leases
(a) Phreesia as Lessee
The Company leases third-party data center space and office space in the U.S under operating leases that expire on various dates through July 2027. Certain of these arrangements have escalating rent payment provisions or optional renewal clauses. The table below only considers lease obligations through the renewal date as the Company is not reasonably certain to elect the option to extend its leases beyond the option date. No arrangements contain residual value guarantees or restrictions imposed on the leases. The Company is also committed to pay a portion of the actual operating expenses under certain of these lease agreements. These operating expenses are not included in the table below.
The Company has also entered into various finance lease arrangements for computer equipment. These agreements are typically for three to five years and are secured by the underlying equipment.
Supplemental balance sheet information related to operating and finance leases as of January 31, 2025 and 2024 was as follows:
January 31,
20252024
Operating leases:
Lease right-of-use assets$1,477 $266 
Lease liabilities, current$964 $393 
Lease liabilities, non-current646 134 
Total operating lease liabilities$1,610 $527 
Finance leases:
Property and equipment, at cost$49,009 $35,250 
Accumulated depreciation(34,815)(27,399)
Property and equipment, net$14,194 $7,851 
Lease liabilities, current (included in Current portion of finance lease liabilities and other debt)$6,825 $4,958 
Lease liabilities, non-current (included in Long-term finance lease liabilities and other debt)7,431 3,351 
Total finance lease liabilities$14,256 $8,309 
For office leases and leased equipment, the Company has elected the practical expedient to not separate lease and non-lease components, and as such, the variable lease cost primarily represents variable payments such as common area maintenance, utilities and equipment maintenance.
As of January 31, 2025, for operating leases, the weighted-average remaining lease term is 1.8 years and the weighted-average discount rate is 8.0%. As of January 31, 2025, for finance leases, the weighted-average remaining lease term is 1.6 years and the weighted-average discount rate is 7.5%.
The components of lease expense for the years ended January 31, 2025, 2024 and 2023 were as follows:
Fiscal years ended
January 31,
202520242023
Operating leases:
Operating lease cost$983 $740 $1,835 
Variable lease cost— 47 62 
Total operating lease cost$983 $787 $1,897 
Finance leases:
Amortization of right-of-use assets$7,416 $6,742 $5,632 
Interest on lease liabilities980 580 368 
Total finance lease cost$8,396 $7,322 $6,000 
Amortization of right-of-use assets for finance leases is included within depreciation expense on the Company's consolidated statements of operations.
The following represents a schedule of maturing lease commitments for operating and finance leases as of January 31, 2025:
January 31, 2025
OperatingFinance
Maturity of lease liabilities
Fiscal year ending January 31,
2026$1,053 $7,705 
2027583 5,688 
202885 2,169 
Total future minimum lease payments$1,721 $15,562 
Less: interest(111)(1,306)
Present value of lease liabilities$1,610 $14,256 
Other supplemental cash flow information for the years ended January 31, 2025, 2024 and 2023 was as follows:
Fiscal years ended
January 31,
202520242023
Supplemental cash flow information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash used for operating leases$1,023 $1,238 $1,347 
Operating cash used for finance leases$980 $535 $396 
Financing cash used for finance leases$7,811 $6,779 $5,731 
(b) Phreesia as Lessor
In connection with the patient intake and registration process, Phreesia offers its customers the ability to lease PhreesiaPads and Arrivals Kiosks along with their monthly subscription. The Company accounts for these rentals as leases. The Company elected the practical expedient to not separate lease and non-lease components. More specifically, all contractual hardware maintenance is included with the hardware lease components. The leases contain no variable lease payments, no options to extend the lease that are reasonably certain to be exercised, and do not give the lessee an option to purchase the hardware at the end of the lease term. Additionally, the lease term does not represent a major part of the remaining economic life of the assets, and the present value of the lease payments does not equal or exceed substantially all of the fair value of the assets. As a result, all leased hardware in the SaaS arrangements is classified as operating leases.
During the years ended January 31, 2025, 2024 and 2023, the Company recognized $9,329, $10,307 and $10,197, respectively in subscription and related services revenue related to the leasing of PhreesiaPads and Arrivals Kiosks.
Future lease payments receivable under operating leases were immaterial as of January 31, 2025 and 2024, except for those with terms of one year or less.
Leases Leases
(a) Phreesia as Lessee
The Company leases third-party data center space and office space in the U.S under operating leases that expire on various dates through July 2027. Certain of these arrangements have escalating rent payment provisions or optional renewal clauses. The table below only considers lease obligations through the renewal date as the Company is not reasonably certain to elect the option to extend its leases beyond the option date. No arrangements contain residual value guarantees or restrictions imposed on the leases. The Company is also committed to pay a portion of the actual operating expenses under certain of these lease agreements. These operating expenses are not included in the table below.
The Company has also entered into various finance lease arrangements for computer equipment. These agreements are typically for three to five years and are secured by the underlying equipment.
Supplemental balance sheet information related to operating and finance leases as of January 31, 2025 and 2024 was as follows:
January 31,
20252024
Operating leases:
Lease right-of-use assets$1,477 $266 
Lease liabilities, current$964 $393 
Lease liabilities, non-current646 134 
Total operating lease liabilities$1,610 $527 
Finance leases:
Property and equipment, at cost$49,009 $35,250 
Accumulated depreciation(34,815)(27,399)
Property and equipment, net$14,194 $7,851 
Lease liabilities, current (included in Current portion of finance lease liabilities and other debt)$6,825 $4,958 
Lease liabilities, non-current (included in Long-term finance lease liabilities and other debt)7,431 3,351 
Total finance lease liabilities$14,256 $8,309 
For office leases and leased equipment, the Company has elected the practical expedient to not separate lease and non-lease components, and as such, the variable lease cost primarily represents variable payments such as common area maintenance, utilities and equipment maintenance.
As of January 31, 2025, for operating leases, the weighted-average remaining lease term is 1.8 years and the weighted-average discount rate is 8.0%. As of January 31, 2025, for finance leases, the weighted-average remaining lease term is 1.6 years and the weighted-average discount rate is 7.5%.
The components of lease expense for the years ended January 31, 2025, 2024 and 2023 were as follows:
Fiscal years ended
January 31,
202520242023
Operating leases:
Operating lease cost$983 $740 $1,835 
Variable lease cost— 47 62 
Total operating lease cost$983 $787 $1,897 
Finance leases:
Amortization of right-of-use assets$7,416 $6,742 $5,632 
Interest on lease liabilities980 580 368 
Total finance lease cost$8,396 $7,322 $6,000 
Amortization of right-of-use assets for finance leases is included within depreciation expense on the Company's consolidated statements of operations.
The following represents a schedule of maturing lease commitments for operating and finance leases as of January 31, 2025:
January 31, 2025
OperatingFinance
Maturity of lease liabilities
Fiscal year ending January 31,
2026$1,053 $7,705 
2027583 5,688 
202885 2,169 
Total future minimum lease payments$1,721 $15,562 
Less: interest(111)(1,306)
Present value of lease liabilities$1,610 $14,256 
Other supplemental cash flow information for the years ended January 31, 2025, 2024 and 2023 was as follows:
Fiscal years ended
January 31,
202520242023
Supplemental cash flow information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash used for operating leases$1,023 $1,238 $1,347 
Operating cash used for finance leases$980 $535 $396 
Financing cash used for finance leases$7,811 $6,779 $5,731 
(b) Phreesia as Lessor
In connection with the patient intake and registration process, Phreesia offers its customers the ability to lease PhreesiaPads and Arrivals Kiosks along with their monthly subscription. The Company accounts for these rentals as leases. The Company elected the practical expedient to not separate lease and non-lease components. More specifically, all contractual hardware maintenance is included with the hardware lease components. The leases contain no variable lease payments, no options to extend the lease that are reasonably certain to be exercised, and do not give the lessee an option to purchase the hardware at the end of the lease term. Additionally, the lease term does not represent a major part of the remaining economic life of the assets, and the present value of the lease payments does not equal or exceed substantially all of the fair value of the assets. As a result, all leased hardware in the SaaS arrangements is classified as operating leases.
During the years ended January 31, 2025, 2024 and 2023, the Company recognized $9,329, $10,307 and $10,197, respectively in subscription and related services revenue related to the leasing of PhreesiaPads and Arrivals Kiosks.
Future lease payments receivable under operating leases were immaterial as of January 31, 2025 and 2024, except for those with terms of one year or less.
v3.25.0.1
Commitments and contingencies
 12 Months Ended
Jan. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and contingencies Commitments and contingencies
(a) Indemnifications
The Company’s agreements with certain customers include certain provisions for indemnifying customers against liabilities if its services infringe a third-party’s intellectual property rights. It is not possible to determine the maximum potential amount under these indemnification obligations due to the limited history of prior indemnification claims and the unique facts and circumstances that may be involved in each particular agreement. To date, the Company has not incurred any material costs as a result of such provisions and has not accrued any liabilities related to such obligations in its consolidated financial statements.
In addition, the Company has indemnification agreements with its directors and its executive officers that require it, among other things, to indemnify its directors and executive officers for costs associated with any fees, expenses, judgments, fines and settlement amounts incurred by any of those persons in any action or proceeding to which any of those persons is, or is threatened to be, made a party by reason of the person’s service as a director or officer, including any action by us, arising out of that person’s services as a director or officer or that person’s services
provided to any other company or enterprise at the Company’s request. The Company maintains director and officer insurance coverage that may enable it to recover a portion of any future indemnification amounts paid. To date, there have been no claims under any of the Company’s directors and executive officers indemnification provisions.
(b) Legal proceedings
Liabilities for loss contingencies arising from claims, assessments, litigation, fines, penalties, and other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred.
We are involved in legal proceedings from time to time that arise in the normal course of business. In the opinion of management, such routine claims and lawsuits are not significant, and we do not expect them to have a material adverse effect on our business, financial condition, results of operations, or liquidity, except as noted below.
On May 12, 2024, we learned of a cybersecurity incident impacting the ConnectOnCall service, an application created by a subsidiary we acquired in October 2023. All systems have been restored, and we believe that we maintain a sufficient level of insurance coverage related to such events, and the related incremental costs incurred to date are not material.
On December 24, 2024, a putative class action complaint was filed against ConnectOnCall.com, LLC and Phreesia, Inc., in the United States District Court for the Eastern District of New York (the “ConnectOnCall Case”). The plaintiff purports to represent a nationwide class of all individuals in the United States who allegedly had personally identifiable information stolen because of the ConnectOnCall incident. The plaintiff asserts a variety of common law claims seeking monetary damages, disgorgement and restitution, attorneys’ fees, interest, and injunctive relief related to the incident.
Around the same time as the ConnectOnCall Case was filed, 12 additional putative class action complaints arising from the ConnectOnCall incident were filed in the United States District Court for the Eastern District of New York—against ConnectOnCall.com, LLC, Phreesia, Inc., or a combination of both—purporting to represent the same nationwide class of individuals and asserting substantially the same claims. Motions have been granted to consolidate the 13 filed cases.
We expect to incur legal and professional services expenses associated with this litigation in future periods. We will recognize these expenses as services are received, net of probable insurance recoveries. While a loss from these matters is reasonably possible, we cannot reasonably estimate a range of possible losses at this time, as the proceedings remain in the early stages, alleged damages have not been specified, there is uncertainty as to the likelihood of the cases being certified or the ultimate size of any class if certified, and there are significant factual and legal issues to be resolved. We have not recorded a loss contingency liability for the above litigation as of January 31, 2025.
(c) Other contractual commitments
Other contractual commitments consist primarily of non-cancelable purchase commitments to support our technology infrastructure. Future minimum payments under our non-cancelable contractual commitments as of January 31, 2025 are presented in the table below.
Purchase obligations
Fiscal year ending January 31,
2026$7,898 
20275,281 
20282,280 
2029742 
Total$16,201 
v3.25.0.1
Income taxes
 12 Months Ended
Jan. 31, 2025
Income Tax Disclosure [Abstract]  
Income taxes Income taxes
The Company recorded a tax provision of $2,716, $1,543 and $483, for the years ended January 31, 2025, 2024 and 2023, respectively. The Company's provision for income taxes was 4.9%, 1.1% and 0.3% of loss before income taxes for the years ended January 31, 2025, 2024 and 2023, respectively. The Company's effective tax rate differs from the U.S. statutory tax rate of 21% primarily because the Company records a valuation allowance against its
U.S. deferred tax assets, and due to foreign income tax expense related to its Canadian branch and its subsidiary in India.
Deferred tax assets and deferred tax liabilities are recognized based on temporary differences between the financial reporting and tax basis of assets and liabilities using statutory rates. Management of the Company has evaluated the positive and negative evidence pertaining to the realizability of its deferred tax assets, including the Company’s history of losses, and concluded that it is more likely than not that the Company will not recognize the benefits for the majority of its deferred tax assets. On the basis of this evaluation, the Company has recorded a valuation allowance against its deferred tax assets that are not more likely than not to be realized at both January 31, 2025 and 2024.
The Company’s loss before income taxes was primarily generated in the United States for fiscal 2025, 2024 and 2023.
The Company's income tax provision consisted of the following for fiscal 2025, 2024 and 2023:
Fiscal years ended January 31,
202520242023
Current tax
Federal$— $— $— 
State102 76 49 
Foreign2,400 1,239 — 
Deferred tax
Federal214 38 109 
State— — — 
Foreign— 190 325 
Total provision for income taxes$2,716 $1,543 $483 
A reconciliation of the statutory U.S. federal income tax rate to the Company's effective tax rate for fiscal 2025, 2024 and 2023 is as follows:
Fiscal years ended January 31,
202520242023
Federal income tax benefit at statutory rate21 %21 %21 %
State and local tax, net of federal benefit4 %3 %5 %
Permanent differences1 %— %— %
Equity compensation(6)%— %— %
Foreign taxes(3)%(1)%— %
Other— %— %— %
Change in valuation allowance(22)%(24)%(26)%
Effective income tax rate(5)%(1)%— %
The significant components of the Company's deferred tax assets and liabilities as of January 31, 2025 and 2024 are as follows:
January 31,
Deferred tax assets:20252024
Net operating loss carryforwards$160,998 $160,791 
Stock based compensation9,495 9,278 
Accruals, reserves, and other expenses15,2483,668
Reserve for bad debts704 793 
Disallowed interest expense9691,041
Depreciation and amortization1,412 1,829 
Total deferred tax assets$188,826 $177,400 
Less: valuation allowance(188,712)(176,641)
Net deferred tax assets$114 $759 
Deferred tax liabilities:
Depreciation and amortization$— $— 
Intangible assets(340)(569)
Deferred contract acquisition costs(258)(460)
Total deferred tax liabilities$(598)$(1,029)
Net deferred tax liabilities$(484)$(270)

The Company has accumulated a U.S. Federal net operating loss carryforward of approximately $596,509 and $598,975 as of January 31, 2025 and 2024, respectively. This carryforward may be available to offset future U.S. Federal income tax liabilities and will expire beginning in 2025. As of January 31, 2025, the Company's foreign branch had no net operating loss carryforwards. The Company utilized the net operating loss carryforwards related to its foreign branch to offset taxable income in Canada during the year ended January 31, 2025. The Company’s unutilized research and development tax credit carryforwards may be carried forward for a period of up to 20 years.
Due to the uncertainty regarding the ability to realize the benefit of the U.S. deferred tax assets primarily relating to net operating loss carryforwards, valuation allowances have been established to reduce the U.S. deferred tax assets to an amount that is more likely than not to be realized.
On the basis of this evaluation, as of January 31, 2025 and 2024, the Company recorded a valuation allowance of $188,712 and $176,641, respectively, to recognize only the portion of the deferred tax asset that is more likely than not to be realized. The $12,071 increase in the valuation allowance recorded during the fiscal year ended January 31, 2025 relates primarily to deferred tax assets established and recorded during the fiscal year ended January 31, 2025. The amount of the deferred tax asset considered realizable, however, could be adjusted if estimates of future taxable foreign income during the carryforward period are reduced.
Under Section 382 of the Internal Revenue Code of 1986, as amended, if a corporation undergoes an “ownership change” (generally defined as a greater than 50% change by value in its equity ownership over a three-year period), the corporation’s ability to use its pre-ownership change net operating loss carryforwards and other pre-ownership change tax attributes to offset its post-change income may be limited. As of January 31, 2025, the Company has U.S. net operating loss carryforwards of approximately $596,509. The Company has completed a Section 382 study and as a result of the analysis, it is not more likely than not that the Company has experienced an “ownership change”. Accordingly, if the Company earns net taxable income, it is not more likely than not that the Company's ability to use its pre-ownership change net operating loss carryforwards to offset U.S. federal taxable income will be subject to limitations, which could potentially result in increased future tax liability.
The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal, state, and foreign jurisdictions, where applicable. The Company’s tax years are still open from 2020 to present and, to the extent utilized in future years' tax returns, net operating loss carryforwards at January 31, 2025 will remain subject to examination until the respective tax year is closed.
The Company records unrecognized tax benefits as liabilities or as reductions to deferred tax assets and adjusts these balances when its judgement changes as a result of the evaluation of new information previously not
available. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. As of January 31, 2025 the Company has reduced the balance of deferred tax assets for $1,605 of unrecognized tax benefits. The Company’s unrecognized tax benefits would not affect the effective tax rate if recognized because the Company has a full valuation allowance on its U.S. deferred tax assets. As of January 31, 2025, the Company had no accrued interest or penalties related to uncertain tax positions.
The following is a roll-forward of the Company's total gross unrecognized tax benefits for fiscal 2025:
Balance, January 31, 2023$— 
Increases for income tax positions related to prior years844 
Increases for income tax positions related to current years396 
Balance, January 31, 2024$1,240 
Increases for income tax positions related to prior years— 
Increases for income tax positions related to current years365 
Balance, January 31, 2025
$1,605 
v3.25.0.1
Net loss per share attributable to common stockholders
 12 Months Ended
Jan. 31, 2025
Earnings Per Share [Abstract]  
Net loss per share attributable to common stockholders Net loss per share attributable to common stockholders
(a) Net loss per share attributable to common stockholders
Basic and diluted net loss per share attributable to common stockholders was calculated as follows:
Fiscal years ended January 31,
202520242023
Numerator:
Net loss$(58,527)$(136,885)$(176,146)
Denominator:
Weighted-average shares of common stock outstanding, basic and diluted57,589,687 54,561,449 52,440,067 
Net loss per share attributable to common stockholders$(1.02)$(2.51)$(3.36)
(b) Potential dilutive securities
The Company’s potential dilutive securities, which include stock options, RSUs, performance stock awards and grants under the Company's ESPP 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. The following potential shares of common stock, presented based on amounts outstanding at each period end, were excluded from the calculation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect:
Fiscal years ended January 31,
202520242023
Stock options to purchase common stock, restricted stock units and performance stock awards6,577,715 7,273,621 6,745,591 
Employee stock purchase plan71,848 91,452 74,685 
Total6,649,563 7,365,073 6,820,276 
v3.25.0.1
Retirement savings plan
 12 Months Ended
Jan. 31, 2025
Retirement Benefits [Abstract]  
Retirement savings plan Retirement savings plan
On February 20, 2008, the Company established a retirement savings plan under Section 401(k) of the Internal Revenue Code (the “Plan”). The Plan covers substantially all U.S. full-time employees who meet minimum age and service requirements and allows participants to defer a portion of their annual compensation on a pre-tax and post-tax basis. Company contributions to the Plan may be made at the discretion of the Board of Directors of the Company. The Company did not make any contributions in the years ended January 31, 2025, 2024 or 2023.
v3.25.0.1
Related party transactions
 12 Months Ended
Jan. 31, 2025
Related Party Transactions [Abstract]  
Related party transactions Related party transactions
For the years ended January 31, 2025 and 2024, the Company recognized revenue totaling $1,343 and $1,174, respectively, for advertisements placed by a pharmaceutical company. One of the Company's independent members of its board of directors serves on the board of directors for this pharmaceutical company. As of January 31, 2025 and 2024, accounts receivable from the pharmaceutical company totaled $116 and $416, respectively.
For the year ended January 31, 2024, the Company recognized general and administrative expenses totaling $118 for software agreements with a software company. One of the Company's independent members of its board of directors served as the chief executive officer and on the board of directors for this software company until May 2023. This Company is no longer considered a related party subsequent to May 2023.
v3.25.0.1
Segments and geographic information
 12 Months Ended
Jan. 31, 2025
Segment Reporting [Abstract]  
Segments and geographic information Segments and geographic information
Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company defines the term “chief operating decision maker” to be its Chief Executive Officer. The Company’s Chief Executive Officer reviews the financial information presented on an entire company basis for purposes of allocating resources and evaluating our financial performance. Accordingly, the Company has determined that it operates in a single reportable operating segment, managed on a consolidated basis, which the Company refers to as the Technology solutions segment.
The Technology solutions segment provides comprehensive software solutions that improve the operational and financial performance of healthcare organizations and improve health outcomes by helping patients take a more active role in their care. The Technology solutions segment’s solutions include SaaS-based integrated tools that manage patient access, registration and payments. Additionally, the Technology solutions segment has tools to communicate with patients about their health, which have demonstrated increased rates of preventive care and vaccinations. Additionally, Technology solutions segment’s solutions include clinical assessments to screen patients for a variety of physical, behavioral and mental health conditions, helping providers to better understand their patients and connect them to needed services, resulting in improved health outcomes. The Technology solutions segment also provides life sciences companies, health plans and other organizations, patient advocacy, public interest and other not-for-profit organizations with a channel for direct communication with patients. The Technology solutions segment also provides additional products and services such as the MediFind provider directory, which helps patients find care based on providers' specialty and condition expertise. The Technology solutions segment offers its healthcare services clients the ability to lease tablets ("PhreesiaPads") and on-site kiosks ("Arrivals Kiosks") along with their monthly subscription.
The chief operating decision maker uses net income (loss) in assessing the performance of and allocate resources to the Technology solutions segment. The chief operating decision maker uses actual versus budgeted net income (loss) in evaluating the performance of the Technology solutions segment.
The accounting policies of the Technology solutions segment are the same as those described in Note 3 - Summary of significant accounting policies. As the Company operates in a single operating segment managed on a consolidated basis, the revenues of the Technology solutions segment are equal to the Company’s total revenues presented on the accompanying consolidated statements of operations. Additionally, revenues for each significant group of products and services is presented on the accompanying consolidated statements of operations. As the Company has only one operating segment, the Company does not have inter-segment sales or transfers. Additionally, the measure of segment profit for the Technology solutions segment is equal to the Company’s Net loss presented on the accompanying consolidated statements of operations.
The following table presents the Company’s segment revenue, segment profit (loss), significant segment expenses, and other segment items, as well as a reconciliation from segment profit (loss) to consolidated net loss.
Fiscal years ended January 31,
2025
2024
2023
Revenue
$419,813 $356,299 $280,910 
Labor costs (1)
224,792238,533240,532
Payment processing expense68,70762,98650,323
Third-party non-labor operating expenses
89,55090,15982,528
Stock-based compensation
66,97571,61358,775
Other segment items
28,31629,89324,898
Segment net loss
$(58,527)$(136,885)$(176,146)
Reconciliation of profit or loss
Adjustments and reconciling items
$— $— $— 
Consolidated net loss
$(58,527)$(136,885)$(176,146)
(1) Excludes stock-based compensation expense which is presented separately
Other segment items include depreciation and amortization, interest income, net, provision for income taxes, loss on extinguishment of debt and other income (expense), net.
The total segment assets for the Technology solutions segment are equal to the total assets presented on the accompanying consolidated balance sheets. The following table presents other quantitative segment disclosures for the fiscal years ended January 31, 2025, 2024 and 2023, respectively.
Fiscal years ended January 31,
2025
2024
2023
Depreciation and amortization
$27,886 $29,487 $25,304 
Interest income, net
$330 $2,211 $1,064 
Loss on extinguishment of debt$— $(1,118)$— 
Gain on settlement (included in other income (expense), net)$2,345 $— $— 
Provision for income taxes
$(2,716)$(1,543)$(483)
Expenditures for long-lived assets
$25,940 $96,474 $17,270 
v3.25.0.1
Acquisitions
 12 Months Ended
Jan. 31, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Acquisitions Acquisitions
On June 30, 2023, the Company entered into an agreement to acquire 100% of the outstanding equity of MediFind for aggregate consideration payable of $8,871 (the "MediFind Acquisition"). A portion of the consideration was paid in cash at closing (subject to a customary working capital adjustment) with the remainder of the consideration settled through the issuance of 150,786 shares of the Company's common stock to certain stockholders of MediFind. MediFind is a consumer-facing healthcare product that helps patients - especially those with serious, chronic and rare diseases - find better care faster. The MediFind Acquisition was accounted for as a business combination. The Company acquired MediFind to reinforce its commitment to patient-centered care and expand its offerings to consumers.
On August 11, 2023, the Company entered into an agreement to acquire 100% of the outstanding equity of Access for aggregate consideration payable of $37,411 (the “Access Acquisition”). A portion of the consideration was paid in cash at closing (subject to a customary working capital adjustment) with the remainder of the consideration settled through the issuance of 1,096,436 shares of the Company's common stock to the holders of the outstanding equity of Access. Access is an innovative electronic forms management and automation provider that helps hospitals across the country streamline workflows, improve compliance and deliver a better patient experience. The Access Acquisition was accounted for as a business combination. The Company acquired Access to enhance and build on its existing functionality in the acute care space and to expand its network of clients and partners.
On October 3, 2023, the Company entered into an agreement to acquire 100% of the outstanding equity of ConnectOnCall for aggregate consideration payable of $13,946 (the “ConnectOnCall Acquisition”). A portion of the consideration was paid in cash at closing with the remainder of the consideration payable in seven quarterly installments beginning in fiscal year 2024. The first installment was paid in January 2024. ConnectOnCall is an automated medical answering solution that routes and triages after-hours calls and manages high daytime call volumes. The ConnectOnCall solution is built on real-time Electronic Health Record (“EHR”) integrations, enhancing the control and transparency of patient information for providers or practices when returning calls. The Company acquired ConnectOnCall to expand its offerings to provider organizations, helping them make the call-triaging process more efficient and less expensive.
The following table summarizes the estimated acquisition-date fair value of consideration transferred for each acquisition:
MediFindAccessConnectOnCallTotal
Cash consideration paid to sellers$4,195 $6,766 $3,946 $14,907 
Equity consideration paid to sellers4,676 30,645 — 35,321 
Liabilities incurred to sellers— — 10,000 10,000 
Total fair value of acquisition consideration$8,871 $37,411 $13,946 $60,228 

The acquisition-date fair value of equity consideration transferred was estimated using the closing stock price on the acquisition date for each acquisition. The acquisition-date fair value of liabilities incurred to sellers was estimated based on the timing of payments and an appropriate credit-adjusted discount rate of 9.3% per annum, determined with the assistance of a third-party appraiser. The Company accrues interest on the liability at 9.3% per annum. Until the settlement of the liability on January 31, 2025, the Company recorded $732 and $294 of interest expense on the liability incurred to sellers during the years ended January 31, 2025 and January 31, 2024, respectively. See Note 4 - Composition of certain financial statement captions for additional information regarding the settlement of the liabilities incurred to the sellers of ConnectOnCall.
The following table summarizes the calculation of cash paid for each acquisition, net of cash acquired per the Company's consolidated statements of cash flows for the fiscal year ended January 31, 2024.
MediFindAccessConnectOnCallTotal
Cash consideration paid to sellers$4,195 $6,766 $3,946 $14,907 
Less: cash acquired(231)(80)(23)(334)
Cash paid for acquisitions, net of cash acquired per statements of cash flows$3,964 $6,686 $3,923 $14,573 

The purchase price was allocated to the tangible assets acquired, the identifiable intangible assets acquired and the liabilities assumed based on their acquisition-date estimated fair values or other measurement bases specified by ASC 805 - Business Combinations.
The following table summarizes the allocation of the purchase price to the assets acquired and liabilities assumed at the date of each acquisition:

MediFindAccessConnectOnCallTotal
Cash$231 $80 $23 $334 
Accounts receivable149 1,870 244 2,263 
Other current assets722 110 33 865 
Identified intangible assets acquired2,300 18,300 2,000 22,600 
Goodwill6,821 23,426 11,862 42,109 
Total assets acquired$10,223 $43,786 $14,162 $68,171 
Accounts payable(121)(196)(89)(406)
Accrued liabilities(816)(884)(49)(1,749)
Deferred revenue(292)(5,295)(78)(5,665)
Deferred income tax liabilities(123)— — (123)
Total purchase price$8,871 $37,411 $13,946 $60,228 
The components of intangible assets acquired in the MediFind Acquisition were as follows:
Estimated Useful Life
(in Years)		Fair Value
Technology7$1,200 
Trademark15700 
Customer relationships10400 
Total identifiable intangible assets acquired$2,300 
The weighted average amortization period for acquired intangible assets as of the date of the acquisition is 10 years.
The components of intangible assets acquired in the Access Acquisition were as follows:
Estimated Useful Life
(in Years)		Fair Value
Technology7$5,200 
Trademark152,400 
Customer relationships1510,700 
Total identifiable intangible assets acquired$18,300 
The weighted average amortization period for acquired intangible assets as of the date of acquisition is 13 years.
The components of intangible assets acquired in the ConnectOnCall Acquisition were as follows:
Estimated Useful Life
(in Years)		Fair Value
Technology5$1,500 
Customer relationships15500 
Total identifiable intangible assets acquired$2,000 
The weighted average amortization period for acquired intangible assets as of the date of acquisition is 8 years.
The Company, with the assistance of a third-party appraiser, assessed the fair value of the assets of MediFind, Access and ConnectOnCall. The fair value of the acquired technology and trademark assets were estimated using the relief from royalty method. The fair value of customer relationships was estimated using a multi-period excess earnings method. To calculate fair value, the Company used cash flows discounted at a rate considered appropriate given the inherent risks associated with each asset.
The useful lives of the intangible assets were estimated based on the expected future economic benefit of the assets and are being amortized over the estimated useful life in proportion to the economic benefits consumed using the straight-line method. The amortization of intangible assets is not expected to be deductible for income tax purposes.
The goodwill recognized in each of the acquisitions is primarily attributable to expected synergies of the combined businesses driven by integrating the license and technology into our solutions and engaging with patients and providers, as well as the acquisition of an assembled workforce. The goodwill recognized for the Access and ConnectOnCall acquisitions is expected to be tax deductible. The goodwill recognized for the MediFind acquisition is not expected to be tax deductible.
During the year ended January 31, 2024, the Company incurred $3,106 of acquisition related costs for the MediFind, Access and ConnectOnCall acquisitions. These costs are primarily included within General and administrative expenses in the consolidated statements of operations.
v3.25.0.1
Subsequent events
 12 Months Ended
Jan. 31, 2025
Subsequent Events [Abstract]  
Subsequent events Subsequent events
On March 12, 2025, the Company’s Board of Directors authorized a stock repurchase program. Under the program, the Company may repurchase up to 2.5 million shares of its common stock from time to time through open market purchases, privately negotiated transactions, block purchases or other methods that comply with applicable securities laws, including repurchase plans that satisfy the conditions of Rule 10b5-1 under the Exchange Act. The timing and amount of any repurchases, if any, will depend on several factors, including the Company’s common stock price, trading volume, market and business conditions, contractual limitations, the Company’s cash flow and liquidity profile, the Company’s capital needs and other factors deemed relevant in the Company's sole discretion. The stock repurchase program does not obligate the Company to repurchase any dollar amount or number of shares of its common stock, and the program may be modified, suspended or discontinued at any time without prior notice. The 1% U.S. federal excise tax on certain repurchases of stock by publicly traded U.S. corporations enacted as part of the Inflation Reduction Act of 2022 applies to repurchases pursuant to our stock repurchase program.
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Pay vs Performance Disclosure      
Net loss $ (58,527) $ (136,885) $ (176,146)
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended 12 Months Ended
Jan. 31, 2025
shares
Jan. 31, 2025
shares
Trading Arrangements, by Individual    
Non-Rule 10b5-1 Arrangement Adopted false  
Rule 10b5-1 Arrangement Terminated false  
Non-Rule 10b5-1 Arrangement Terminated false  
Michael Weintraub [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement   On January 6, 2025, Michael Weintraub, a member of the Company’s Board of Directors, adopted a trading arrangement for the sale of securities of the Company’s common stock (a “Rule 10b5-1 Trading Plan”) that is intended to satisfy the affirmative defense conditions of Securities Exchange Act Rule 10b5-1(c). Mr. Weintraub’s Rule 10b5-1 Trading Plan, which expires on March 31, 2025, provides for the potential exercise of vested stock options and the associated sale of up to 40,000 shares of the Company’s common stock.
Name Michael Weintraub  
Title Board of Directors  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date January 6, 2025  
Expiration Date March 31, 2025  
Arrangement Duration 84 days  
Aggregate Available 40,000 40,000
Amy VanDuyn [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement   On January 10, 2025, Amy VanDuyn, the Senior Vice President, Human Resources of the Company, adopted a Rule 10b5-1 Trading Plan that is intended to satisfy the affirmative defense conditions of Exchange Act Rule 10b5-1(c). Ms. VanDuyn’s Rule 10b5-1 Trading Plan, which expires on December 31, 2025, provides for the sale of up to 18,573 shares of common stock.
Name Amy VanDuyn  
Title Senior Vice President, Human Resources  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date January 10, 2025  
Expiration Date December 31, 2025  
Arrangement Duration 355 days  
Aggregate Available 18,573 18,573
Mark Smith [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement  
On January 10, 2025, Mark Smith, a member of the Company’s Board of Directors, adopted a Rule 10b5-1 Trading Plan that is intended to satisfy the affirmative defense conditions of Exchange Act Rule 10b5-1(c). Dr. Smith’s Rule 10b5-1 Trading Plan, which expires on December 31, 2025, provides for the potential exercise of vested stock options and the associated sale of up to 12,000 shares of the Company’s common stock.
Name Mark Smith  
Title Board of Directors  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date January 10, 2025  
Expiration Date December 31, 2025  
Arrangement Duration 355 days  
Aggregate Available 12,000 12,000
David Linetsky [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement  
On January 15, 2025, David Linetsky, the Senior Vice President, Life Sciences of the Company, adopted a Rule 10b5-1 Trading Plan that is intended to satisfy the affirmative defense conditions of Exchange Act Rule 10b5-1(c). Mr. Linetsky’s Rule 10b5-1 Trading Plan provides for the sale of (i) up to 107,810 shares of common stock, (ii) an additional number of shares receivable upon the vesting of certain equity awards that may be granted pursuant to Mr. Linetsky’s full fiscal year 2025 bonus, first half of fiscal year 2026 bonus and full fiscal year 2026 bonus, net of any shares sold in non-discretionary transactions pursuant to the Company’s mandatory sell-to-cover policy to cover Mr. Linetsky’s tax withholding obligations in connection with the vesting and settlement of RSUs and (iii) 100% of his vested 2022 PSUs, net of the number of shares sold to cover Mr. Linetsky’s taxes. The number of shares to be granted pursuant to Mr. Linetsky’s full fiscal year 2025 bonus, first half of fiscal year 2026 bonus and full fiscal year 2026 bonus and the number of shares to be sold by him to cover taxes, and thus the exact number of shares to be sold pursuant to Mr. Linetsky’s Rule 105b-1 Trading Plan, can only be determined upon the occurrence of future events. Mr. Linetsky’s Rule 10b5-1 Trading Plan expires on April 15, 2026, or upon the earlier completion of all authorized transactions under the plan.
Name David Linetsky  
Title Senior Vice President, Life Sciences of the Company  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date January 15, 2025  
Expiration Date April 15, 2026  
Arrangement Duration 455 days  
Aggregate Available 107,810 107,810
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Jan. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Jan. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Our cybersecurity risk management program is informed by recognized industry standards and frameworks and incorporates elements of the same, including elements of the National Institute of Standards and Technology Cybersecurity Framework and The Health Information Trust Alliance (HITRUST) Common Security Framework. Additionally, we are certified as a PCI-DSS Level 1 Service Provider. The Company’s cybersecurity program utilizes a cross functional, multilayered defense-in-depth approach designed to: (i) identify, prevent and mitigate cybersecurity threats to the Company; (ii) preserve the confidentiality, security and availability of the information that we collect and store; (iii) protect the Company’s intellectual property; (iv) maintain the confidence of our customers, clients and business partners; and (v) provide appropriate public disclosure and required notices of cybersecurity risks and incidents when required.
Our cybersecurity program includes safeguards that are designed to protect the Company’s information systems from cybersecurity threats. Such safeguards include firewalls, automated intrusion detection systems, anti-malware functionality and access controls, which are evaluated and improved through periodic vulnerability assessments and ongoing cybersecurity threat intelligence. We have established and maintain an incident response plan that addresses the Company’s response to and recovery from a cybersecurity incident. The incident response plan is tested and evaluated on an annual basis.
The Company’s cybersecurity program is supported by engagement of third-party service providers who help identify, assess and respond to cybersecurity risks. For example, the Company regularly engages third parties to perform and facilitate assessments on our cybersecurity measures, including information security maturity assessments, audits, tabletop exercises, threat modeling and independent reviews of our information security control environment and operating effectiveness. The results of such assessments, audits and reviews are reported to leadership, the Audit Committee, and/or the Board, as appropriate, and the Company adjusts its cybersecurity policies, standards, processes and practices as appropriate based on the information provided by the assessments, audits and reviews.
As part of our cybersecurity risk management program, we maintain a risk-based approach to identifying and overseeing cybersecurity risks presented by third parties, including vendors, service providers and other external users of the Company’s systems, as well as the systems of third parties that could adversely impact our business. Further, all personnel are required to undergo cybersecurity training during onboarding and, thereafter, on an annual basis to reinforce the Company’s information security policies, standards and practices.
We have not identified any cybersecurity incidents or threats that have materially affected us or are reasonably likely to materially affect us, including our business strategy, results of operations, or financial condition. However, like other companies in our industry, we and our third-party vendors have experienced and will likely experience threats and security incidents that could affect our information or systems. See Item 1A “Risk Factors” in this Annual Report on Form 10-K for more information.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
Our cybersecurity risk management program is informed by recognized industry standards and frameworks and incorporates elements of the same, including elements of the National Institute of Standards and Technology Cybersecurity Framework and The Health Information Trust Alliance (HITRUST) Common Security Framework. Additionally, we are certified as a PCI-DSS Level 1 Service Provider. The Company’s cybersecurity program utilizes a cross functional, multilayered defense-in-depth approach designed to: (i) identify, prevent and mitigate cybersecurity threats to the Company; (ii) preserve the confidentiality, security and availability of the information that we collect and store; (iii) protect the Company’s intellectual property; (iv) maintain the confidence of our customers, clients and business partners; and (v) provide appropriate public disclosure and required notices of cybersecurity risks and incidents when required.
Our cybersecurity program includes safeguards that are designed to protect the Company’s information systems from cybersecurity threats. Such safeguards include firewalls, automated intrusion detection systems, anti-malware functionality and access controls, which are evaluated and improved through periodic vulnerability assessments and ongoing cybersecurity threat intelligence. We have established and maintain an incident response plan that addresses the Company’s response to and recovery from a cybersecurity incident. The incident response plan is tested and evaluated on an annual basis.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block] The Company’s Board of Directors (the “Board”) maintains oversight responsibility over the Company’s enterprise risk management (“ERM”) program, which incorporates the Company’s cybersecurity risk management program.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] The Board’s oversight of cybersecurity risk management is supported by the Audit Committee of the Board (the “Audit Committee”), which regularly interacts with the Company’s ERM function, the Company’s Chief Technology Officer, along with other members of management including the Chief Information Security Officer, the Chief Privacy Officer, and the compliance, audit, and risk teams.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] The Board’s oversight of cybersecurity risk management is supported by the Audit Committee of the Board (the “Audit Committee”), which regularly interacts with the Company’s ERM function, the Company’s Chief Technology Officer, along with other members of management including the Chief Information Security Officer, the Chief Privacy Officer, and the compliance, audit, and risk teams.
The Board and the Audit Committee each receive quarterly presentations and reports from the Company’s Chief Technology Officer and/or General Counsel on cybersecurity risks, which address a wide range of topics including, among others, recent developments, evolving standards, vulnerability assessments, third-party and independent reviews, the threat environment, technological trends and information security considerations arising with respect to the Company’s peers and third party service providers. The Board and the Audit Committee also receive prompt and timely information regarding any cybersecurity incident that meets established reporting thresholds under the Company’s incident response plan.
Cybersecurity Risk Role of Management [Text Block] The Board’s oversight of cybersecurity risk management is supported by the Audit Committee of the Board (the “Audit Committee”), which regularly interacts with the Company’s ERM function, the Company’s Chief Technology Officer, along with other members of management including the Chief Information Security Officer, the Chief Privacy Officer, and the compliance, audit, and risk teams.
The Company’s Chief Information Security Officer is principally responsible for day-to-day management of the Company’s cybersecurity risk management program and reports to the Chief Technology Officer. The Chief Information Security Officer has more than 15 years of cybersecurity experience, including leadership roles at four publicly traded companies. He is a Certified Information Systems Security Professional, holds a M.S. in Security Technologies from the University of Minnesota and is an alumnus of the FBI Citizen’s Academy. The Chief Technology Officer has served in various leadership roles in information technology and information security at the Company for over 14 years and holds a B.S. in computer science from Worcester Polytechnic Institute. The Chief Technology Officer reports directly to the Chief Executive Officer and works in coordination with the other members of the leadership team, which includes our General Counsel, Chief Operating Officer, and Chief Financial Officer. The Chief Technology Officer oversees a team of security professionals, which is led by the Chief Information
Security Officer. The security team includes approximately 36 security professionals, 25 of whom are security engineers. Other members of the team oversee and manage identity, risk, compliance and audit functions.
The Board and the Audit Committee each receive quarterly presentations and reports from the Company’s Chief Technology Officer and/or General Counsel on cybersecurity risks, which address a wide range of topics including, among others, recent developments, evolving standards, vulnerability assessments, third-party and independent reviews, the threat environment, technological trends and information security considerations arising with respect to the Company’s peers and third party service providers. The Board and the Audit Committee also receive prompt and timely information regarding any cybersecurity incident that meets established reporting thresholds under the Company’s incident response plan.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]
The Company’s Chief Information Security Officer is principally responsible for day-to-day management of the Company’s cybersecurity risk management program and reports to the Chief Technology Officer. The Chief Information Security Officer has more than 15 years of cybersecurity experience, including leadership roles at four publicly traded companies. He is a Certified Information Systems Security Professional, holds a M.S. in Security Technologies from the University of Minnesota and is an alumnus of the FBI Citizen’s Academy. The Chief Technology Officer has served in various leadership roles in information technology and information security at the Company for over 14 years and holds a B.S. in computer science from Worcester Polytechnic Institute. The Chief Technology Officer reports directly to the Chief Executive Officer and works in coordination with the other members of the leadership team, which includes our General Counsel, Chief Operating Officer, and Chief Financial Officer. The Chief Technology Officer oversees a team of security professionals, which is led by the Chief Information
Security Officer. The security team includes approximately 36 security professionals, 25 of whom are security engineers. Other members of the team oversee and manage identity, risk, compliance and audit functions.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] The Chief Information Security Officer has more than 15 years of cybersecurity experience, including leadership roles at four publicly traded companies.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
The Board and the Audit Committee each receive quarterly presentations and reports from the Company’s Chief Technology Officer and/or General Counsel on cybersecurity risks, which address a wide range of topics including, among others, recent developments, evolving standards, vulnerability assessments, third-party and independent reviews, the threat environment, technological trends and information security considerations arising with respect to the Company’s peers and third party service providers. The Board and the Audit Committee also receive prompt and timely information regarding any cybersecurity incident that meets established reporting thresholds under the Company’s incident response plan.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
Summary of significant accounting policies (Policies)
 12 Months Ended
Jan. 31, 2025
Accounting Policies [Abstract]  
Consolidated financial statements Consolidated financial statements
The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States ("GAAP") and regulations of the Securities and Exchange Commission ("SEC") regarding annual financial reporting and include the accounts of Phreesia, Inc; its branch operation in Canada and its consolidated subsidiaries (or collectively, the "Company").
Fiscal year Fiscal year
The Company’s fiscal year ends on January 31. References to fiscal 2025, 2024 and 2023 refer to the fiscal years ending on January 31, 2025, 2024 and 2023, respectively.
Use of estimates Use of estimates
The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. These judgments, estimates and assumptions are used for, but not limited to revenue recognition, the allowance for doubtful accounts, contingent liabilities, the determination of the useful lives of long-lived assets, the capitalization, valuation and
recoverability of long-lived assets, the fair value of securities underlying stock-based compensation and the fair value of identifiable assets and liabilities and deferred consideration in business acquisitions.
Revenue recognition Revenue recognition
The Company generates revenue primarily from providing integrated SaaS-based software and payment solutions for the healthcare industry. The Company derives revenue from subscription fees and related services generated from the Company’s healthcare services clients for access to the Company's solutions, payment processing fees based on patient payment volume, and fees from life sciences clients and other organizations for delivering qualified direct communications to patients who consent to receive this type of engagement using the Company's solutions.
The Company accounts for revenue from contracts with customers by applying the following steps:
•identification of the contract, or contracts, with a customer;
•identification of the performance obligations in the contract;
•determination of the transaction price;
•allocation of the transaction price to the performance obligations in the contract; and
•recognition of revenue when, or as, the Company satisfies a performance obligation.
Revenues are recognized when control of these services is transferred to the Company’s customers, in an amount that reflects the consideration it expects to be entitled to in exchange for those services.
The majority of the Company’s contracts with customers contain multiple performance obligations. For these contracts, the Company accounts for individual performance obligations separately when they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. The Company determines the standalone selling prices based on its overall pricing objectives, taking into consideration market conditions, historical pricing information as priced in previous bundled contracts, as well as other factors such as product, customer type and geographic area. The Company typically establishes a range of SSPs for each of its performance obligations. The Company uses the residual method to estimate the SSP for certain performance obligations with highly variable pricing.
i.Subscription and related services
In most cases, the Company generates subscription fees from clients based on the number of healthcare services clients that utilize the Company's solutions and subscription fees for the Company’s self-service intake tablets (PhreesiaPads), on-site kiosks (Arrivals Kiosks) and any other solutions. The Company’s healthcare services clients are typically billed monthly in arrears, though in some instances healthcare services clients may opt to be billed monthly, quarterly or annually in advance. Subscription fees are typically auto-debited from client’s accounts every month. Revenue for healthcare services client subscriptions is recognized over the term of the respective healthcare services client contract. Substantially all of the Company’s subscription arrangements are considered service contracts, and the customer does not have the right to take possession of the software. Revenue for related services is recognized as it is delivered if the services are distinct from the subscription service and is recognized over the remaining non-cancelable subscription term if it is not distinct from the subscription service. In certain arrangements, the Company leases its PhreesiaPads and Arrivals Kiosks through operating leases to its customers. Accordingly, these revenue transactions are accounted for using ASC 842, Leases.
In addition, subscription and related services includes certain fees from clients for professional services associated with implementation services as well as travel and expense reimbursements, shipping and handling fees, sales of Phreesia hardware (PhreesiaPads and Arrivals Kiosks), on-site support and training. Certain professional services for implementation are not distinct from the Company's solutions and are therefore recognized over the term of the contract. Revenue from sales of distinct professional services, Phreesia hardware and training are recognized in the period they are delivered to clients.
ii.Payment processing fees
The Company generates revenue from payment processing fees based on the levels of patient payment volume resulting from credit and debit card transactions (dollar value and number of card transactions) processed through Phreesia’s payment facilitator model. Payment processing fees are generally calculated as a percentage of the total transaction dollar value processed and/or a fee per transaction. The remainder of patient payment volume is composed of credit and debit card transactions for which Phreesia acts as a gateway to payment processors, and cash and check transactions.
The Company recognizes the payment processing fees when the transaction occurs (i.e., when the processing services are completed). The transaction amount is collected from the cardholder’s bank via the Company’s third-party payment processing partner and the card networks. The transaction amount is then remitted to its customers
approximately two business days after the transaction occurs. At the end of each month, the Company bills its customers for any payment processing fees owed per its customer contractual agreements. Similarly, at the end of each month, the Company remits payments to third-party payment processors and financial institutions for interchange and assessment fees, processing fees, and bank settlement fees.
The Company acts as the merchant of record for its customers and works with payment card networks and banks so that its customers do not need to manage the complex systems, rules, and requirements of the payment industry. The Company satisfies its performance obligations and therefore recognizes the transaction fees as revenue upon completion of a transaction. Revenue is recognized net of refunds, which arise from reversals of transactions initiated by the Company’s customers.
The payment processing fees collected from customers are recognized as revenue on a gross basis as the Company is the principal in the delivery of the managed payment solutions to the customer. The Company has concluded it is the principal because as the merchant of record, it controls the services before delivery to the customer, it is primarily responsible for the delivery of the services to its customers, it has latitude in establishing pricing with respect to the customer and other terms of service, it has sole discretion in selecting the third-party to perform the settlement, and it assumes the credit risk for the transaction processed. The Company also has the unilateral ability to accept or reject a transaction based on criteria established by the Company.
As the merchant of record, the Company is liable for settlement of the transactions processed and, accordingly, such costs are included in payment processing fees expense on the accompanying consolidated statements of operations.
iii.Network solutions
The Company's Network solutions revenue includes fees from life sciences companies and other organizations for qualified direct communications to patients who consent to receive this type of engagement, to help activate, engage and educate patients about topics critical to their health using the Company’s solutions.
The Company generates revenue from sales of digital marketing solutions to life sciences companies which is based largely on the delivery of messages at a contracted price per message to patients. Messaging campaigns are sold for a specified number of messages delivered to qualified patients over an expected time frame. Revenue is recognized as the messages are delivered.
Concentrations of credit risk and Risks and uncertainties Concentrations of credit risk
Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, accounts receivable and settlement assets. The Company’s cash and cash equivalents are held by established financial institutions. The Company does not require collateral from its customers and generally requires payment within 30 to 60 days of billing. Settlement assets are amounts due from well-established payment processing companies and normally take one to two business days to settle which mitigates the associated risk of concentration. The Company utilizes one third-party payment processor.
The Company’s customers are primarily physician’s offices and other healthcare services organizations located in the United States as well as pharmaceutical companies.Risks and uncertainties
The Company is subject to a variety of risk factors, including the economy, data privacy and security laws and government regulations. Additionally, the Company is subject to other risks associated with the markets in which it operates including reliance on third-party vendors, partners, and service providers. The Company has a substantial number of employees in Canada and India and the Company supplements its workforce with contractors and consultants in domestic and international locations. Certain of the Company's service providers, including certain third-party software developers, are located in international locations subject to warfare and/or political and economic instability, such as Ukraine and India. As with any business, operation of the Company involves risk, including the risk of service interruption impacting the operations of the Company's business and the Company's customer’s facilities below expected levels of operation, shut downs due to the breakdown or failure of information technology and communications systems, changes in laws or regulations, political and economic instability, or catastrophic events such as fires, earthquakes, floods, explosions, global health concerns such as pandemics or other similar occurrences affecting the delivery of our productions and services. The occurrence of any of these events could significantly reduce or eliminate revenues generated, or significantly increase the expenses of the
Company's operations, adversely impacting the Company’s operating results and the Company's ability to meet the Company's obligations and commitments. See Note 6 - Finance leases and other debt and Note 11 - Commitments and contingencies, for a summary of our contractual commitments as of January 31, 2025.
Cost of revenue (excluding depreciation and amortization) Cost of revenue (excluding depreciation and amortization)
Cost of revenue (excluding depreciation and amortization) primarily consists of personnel expenses for implementation and technical support, infrastructure costs for operation of our solutions such as hosting fees, and certain fees paid to various third-party providers for the use of their technology, as well as costs to verify insurance eligibility and benefits. Personnel expenses consist of salaries, stock-based compensation, benefits and bonuses.
Payment processing expense Payment processing expense
Payment processing expense consists primarily of interchange fees set by payment card networks that are ultimately paid to the card-issuing financial institution, and assessment fees paid to payment card networks, and fees paid to third-party payment processors and gateways.
Sales and marketing Sales and marketingSales and marketing expense consists primarily of personnel costs, including salaries, stock-based compensation, benefits, bonuses and commission costs for our sales and marketing personnel. Sales and marketing expense also includes costs for advertising, promotional and other marketing activities, as well as certain fees paid to various third-party partners for sales lead generation. Advertising is expensed as incurred.
Research and development Research and development
Research and development expense consists of costs for the design, development, testing and enhancement of the Company’s products and services that do not meet the criteria for capitalization as internal-use software. These costs consist primarily of personnel costs, including salaries, stock-based compensation, benefits and bonuses for the Company’s development personnel. Research and development expense also includes third-party partner fees and third-party consulting fees.
General and administrative General and administrative
General and administrative expense consists primarily of personnel costs, including salaries, stock-based compensation, benefits and bonuses for the Company’s executive, finance, legal, human resources, information technology, and other administrative personnel. General and administrative expense also includes consulting, legal, security, accounting services and allocated overhead.
Depreciation and Amortization Depreciation
Depreciation represents depreciation expense for PhreesiaPads and Arrivals Kiosks (collectively, Phreesia hardware), data center and other computer hardware and purchased computer software.
Amortization
Amortization primarily represents amortization of the Company’s capitalized internal-use software related to the Company's solutions as well as amortization of acquired intangible assets.
Cash and cash equivalents Cash and cash equivalents
The Company considers all highly liquid investments with an original maturity of three months or less at the time of purchase to be cash equivalents. The Company's money market accounts meet the definition of cash equivalents.
Settlement assets Settlement assets
Settlement assets represent amounts due from the Company’s payment processor for customer electronic processing transactions. Settlement assets are typically settled within one to two business days of the transaction date.
Settlement obligations Settlement obligations
Settlement obligations represent amounts due to customers for electronic processing transactions that have not been funded by the Company due to timing of settlement from the Company’s payment processor.
Accounts receivable and allowance for doubtful accounts Accounts receivable and allowance for doubtful accounts
Accounts receivable represent trade receivables, net of allowances for any potential uncollectible amounts. The Company estimates the allowance for doubtful accounts as its current estimate of expected credit loss over the life
of the instrument. The Company estimates its allowance for doubtful accounts by evaluating the Company’s ability to collect outstanding receivable balances considering various factors, including the age of the balance, the customer’s creditworthiness, payment history and financial condition, the condition of the industry as a whole, as well as expected future changes in credit losses. Write-offs of accounts receivable were not material during the fiscal years ended January 31, 2025, 2024 or 2023.
Property and equipment Property and equipment
Property and equipment, including PhreesiaPads and Arrivals Kiosks, are stated at cost less accumulated depreciation. Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the related assets. Maintenance and repair costs are charged to operations as incurred while expenditures for major improvements are capitalized.
The Company depreciates property and equipment over the following estimated useful lives:
Useful life
(years)
PhreesiaPads and Arrivals Kiosks3
Computer equipment
3
Computer software
3 to 5
Hardware development
3
Upon sale or disposition of property and equipment, the cost and related accumulated depreciation are removed from their respective accounts and any gain or loss is reflected in the consolidated statements of operations.
Capitalized internal-use software Capitalized internal-use software
The Company capitalizes certain costs incurred for the development of computer software for internal use. These costs relate to the development of its solutions. The Company capitalizes the costs during the development of the project, when it is determined that it is probable that the project will be completed, and the software will be used as intended. Costs related to preliminary project activities, post-implementation activities, training and maintenance are expensed as incurred. Internal-use software is amortized on a straight-line basis over its estimated useful life, which is generally three to five years. Management evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. The Company exercises judgment in determining the point at which various projects may be capitalized, in assessing the ongoing value of the capitalized costs and in determining the estimated useful lives over which the costs are amortized. To the extent that the Company changes the manner in which it develops and tests new features and functionalities related to its solutions, assesses the ongoing value of capitalized assets or determines the estimated useful lives over which the costs are amortized, the amount of internal-use software development costs the Company capitalizes and amortizes could change in future periods. Refer to Note 4(d) for further detail on internal-use software costs capitalized during the period.
Business combinations Business combinations
The Company uses its best estimates and assumptions to accurately assign fair value to the tangible and intangible assets acquired and liabilities assumed at the acquisition date. The Company’s estimates are inherently uncertain and subject to refinement. During the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed, with the corresponding offset to goodwill. The Company continues to collect information and reevaluate these estimates and assumptions quarterly and records any adjustments to its estimates to goodwill provided that the Company is within the measurement period. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the consolidated statements of operations.
When applicable, the consideration transferred for business combinations includes the acquisition-date fair value of deferred consideration liabilities. The Company recognizes interest expense to accrete deferred consideration liabilities to their settlement amount.
Goodwill and intangible assets Goodwill and intangible assets
Goodwill represents the excess of the consideration transferred over the fair value of the underlying net tangible and intangible assets acquired and liabilities assumed in connection with business combinations accounted for using the acquisition method of accounting. Goodwill is not amortized, but instead goodwill is required to be tested for impairment annually and under certain circumstances. We perform such testing of goodwill in the fourth quarter of each fiscal year, or as events occur or circumstances change that would more likely than not reduce the fair value below its carrying amount.
The testing of goodwill is performed at the reporting unit level. The Company’s reporting unit is the same as its operating segment. The test begins with a qualitative assessment to determine whether it is “more likely than not” that the fair value of the reporting unit is less than its carrying amount. If it is concluded that it is “more likely than not” that the fair value of a reporting unit is less than its carrying amount, the Company performs a quantitative goodwill impairment test by calculating the fair value of the reporting unit and comparing that fair value to the carrying value of the reporting unit. If the estimated fair value of the reporting unit is less than its carrying amount, the Company records a goodwill impairment to reduce the carrying amount of goodwill by the amount by which the fair value of the reporting unit is less than its carrying amount.
All other intangible assets associated with purchased intangibles, consisting of customer relationships, acquired technology, acquired trademarks and acquired licenses, are recorded at acquisition-date fair value less accumulated amortization and are amortized on a straight-line basis over their estimated remaining economic lives.
Long-lived assets Long-lived assets
Long-lived assets, such as property and equipment, intangible assets, capitalized internal-use software and operating lease right-of-use assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Company first compares the undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. There were no impairment charges recognized in the consolidated statements of operations during any of the periods presented.
Income taxes Income taxes
An asset and liability approach is used for financial accounting and reporting of current and deferred income taxes. Deferred income tax assets and liabilities are computed for temporary differences between the financial statement and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future. Such deferred income tax asset and liability computations are based on enacted tax laws and rates applicable to periods in which the differences are expected to affect taxable income or loss. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized. The Company recognizes the financial statement effects of income tax positions taken or expected to be taken in an income tax return when they are more likely than not, based on technical merits, to be sustained upon examination. The Company measures income tax positions at the largest amount of tax benefit that is more likely than not to be realized upon settlement with a taxing authority that has full knowledge of all relevant information. U.S. GAAP also provides guidance on de-recognition, classification, interest and penalties, accounting in the interim periods, and disclosure for income taxes.
The Company reviews and evaluates tax positions in its major jurisdictions and determines whether or not there are uncertain tax positions that require financial statement recognition and the recording of a tax liability or the reduction of a tax asset. The Company would recognize tax related interest and penalties, if applicable, as a component of its provision for income taxes.
Segment information Segment information
Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company defines the term “chief operating decision maker” to be its Chief Executive Officer. The Company’s Chief Executive Officer reviews the financial information presented on an entire company basis for purposes of allocating resources and evaluating the Company’s financial performance. Accordingly, we have determined that we operate in a single reportable operating segment. Additionally, substantially all of the Company's revenues and long-lived assets are located in the U.S. See Note 16 - Segments and geographic information - for additional information regarding the Company’s reportable segment.
Stock-based compensation Stock-based compensation
The Company has stock-based compensation plans under which various types of equity-based awards are granted, including stock options, restricted stock units ("RSUs"), performance-based RSUs, and market-based performance stock units ("PSUs"). The Company recognizes the compensation cost for equity-classified stock-based awards based on the grant-date fair value of the award. That cost is recognized on a straight-line basis over the requisite service period, which is generally the vesting period of the award. For performance-based RSUs, the number of shares expected to vest is estimated at each reporting date based on management's expectations regarding the relevant performance criteria. The Company adjusts stock compensation expense for forfeitures of stock-based compensation awards in the periods the forfeitures occur.
The fair value of stock options is estimated at the time of grant using the Black-Scholes option pricing model, which requires the use of inputs and assumptions such as the exercise price of the option, expected term, risk-free interest rate, expected volatility and dividend yield, and the value of the Company's common stock (which is estimated for awards granted prior to our IPO). The Company does not estimate forfeitures in recognizing stock-based compensation expense. The fair value of the RSUs is equal to the fair value of the Company's common stock on the grant date of the award. The fair value of market-based PSUs is estimated at the time of grant using a Monte Carlo simulation which compares Phreesia's projected total shareholder return ("TSR") to the projected TSR of the Russell 3000 Index (the "Peer Group") and estimates the value of shares to be issued based on the vesting conditions of the PSUs. The Monte Carlo simulation requires the use of inputs and assumptions such as the grant-date closing stock price, simulation, expected volatility, correlation coefficient to the Russell 3000 Index, risk-free interest rate and dividend yield.
During fiscal 2020, the Company adopted the Phreesia, Inc. 2019 Employee Stock Purchase Plan ("ESPP" or "the Plan"). The Company records compensation expense based on the grant date fair value per award granted multiplied by the number of awards granted to the employee for the purchase period. The number of awards granted to the employee for the purchase period is equal to the expected employee contributions divided by 85% of the closing stock price on the offering date.
For liability-classified performance-based stock bonus awards, at the beginning of the year, the Company offers eligible employees the option to elect to receive their year-end performance bonus in stock. Bonuses settled in stock are accounted for as stock-based compensation awards vesting based on a performance condition and are classified as liabilities because they represent a liability settled in a variable number of shares.
During fiscal 2023, the Company adopted the 2023 Inducement Award Plan (the "Inducement Plan"). The Inducement Plan allows the Company to grant equity-based incentive awards including stock options, RSUs and PSUs to employees of acquired companies to induce them to join the Company.
Fair value of financial instruments Fair value of financial instruments
Certain assets and liabilities are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for the sale of an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are required to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable:
Level 1—Quoted prices in active markets for identical assets or liabilities.
Level 2—Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data.
Level 3—Unobservable inputs which are supported by little or no market activity and that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques.
The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.
Equity offering costs Equity offering costs
The Company capitalizes certain legal, accounting and other third-party fees that are directly associated with in-process equity financings as deferred offering costs until such financings are consummated. After consummation of the equity financing, these costs will be recorded in stockholders’ equity as a reduction of additional paid-in capital generated as a result of the offering, to the extent there are sufficient proceeds. Should the equity financing no longer be considered probable of being consummated, all deferred offering costs would be charged to operating expenses in the accompanying consolidated statements of operations.
Foreign currency Foreign currencyThe functional currency of the Company’s subsidiaries and branch in the U.S. and Canada is the U.S. Dollar. The functional currency of the Company’s subsidiary in India is the Indian Rupee. For subsidiaries with functional currencies other than the U.S. Dollar, the Company translates the functional currency financial statements into U.S. Dollars using the exchange rates at the balance sheet date for assets and liabilities, the period average exchange rates for revenues and expenses, and the historical exchange rates for equity transactions. The effects of foreign currency translation adjustments are recorded as accumulated other comprehensive loss within stockholders’ equity in the Company’s consolidated balance sheets. Foreign currency transaction gains and losses to re-measure monetary assets and liabilities into each entity’s functional currency are included in Other income (expense), net in the Company’s consolidated statements of operations.
Other income (expense), net Other income (expense), netOther income (expense), net consists primarily of miscellaneous other income and expense items that are not attributable to the Company’s normal ongoing operations, as well as foreign currency-related gains and losses.
Legal and loss contingencies Legal and loss contingencies
The Company periodically evaluates the development in litigation, claims and other legal matters. The Company records liabilities for loss contingencies arising from claims, assessments, litigation, fines, penalties, and other sources when it is probable that a liability has been incurred and the amount can be reasonably estimated. The Company discloses legal proceedings when it is reasonably possible that a loss has been incurred. Legal costs incurred in connection with loss contingencies are expensed as incurred.
New accounting pronouncements New accounting pronouncements
Impact of recently adopted accounting pronouncements
In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2023-07, Segment Reporting. The new standard requires enhanced disclosures about significant segment expenses and other segment items and requires companies to disclose all annual disclosures about segments in interim periods. The new standard also permits companies to disclose more than one measure of segment profit or loss, requires disclosure of the title and position of the Chief Operating Decision Maker (“CODM”), and requires companies with a single reportable segment to provide all disclosures required by Topic 280 – Segment Reporting. The new standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. Companies are required to apply ASU 2023-07 retrospectively to all periods presented. The Company adopted ASU 2023-07 for annual periods beginning in the fiscal year ending January 31, 2025. The Company plans to adopt ASU 2023-07 for interim periods beginning in the fiscal year ending January 31, 2026. The disclosure changes that resulted from the adoption of ASU 2023-07 did not materially impact its consolidated financial statements.
During the year ended January 31, 2025, the Company did not adopt any other accounting pronouncements that materially impacted the Company's financial statements.
Recent accounting pronouncements not yet adopted
In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The new standard requires companies to disclose disaggregated information related to income taxes paid and the effective tax rate. The provisions of ASU 2023-09 are effective for annual periods beginning after December 15, 2024; early adoption is permitted for annual statements. The Company plans to adopt ASU 2023-09 for annual periods beginning in the fiscal year ending January 31, 2026. The Company is currently evaluating the impact that ASU 2023-09 will have on its financial statements and related disclosures. The Company does not expect the disclosure changes that result from the adoption of ASU 2023-09 to materially impact its consolidated financial statements.
In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The new standard requires companies to disclose disaggregated information about certain income statement expense line items. The provisions of ASU 2024-03 are effective for annual periods beginning after December 15, 2026, and interim reporting periods in fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company plans to adopt ASU 2024-03 for annual periods beginning in the fiscal year ending January 31, 2028 and for interim periods beginning in the fiscal year ending January 31, 2029. The Company is currently evaluating the impact that ASU 2024-03 will have on its financial statements and related disclosures. The Company does not expect the disclosure changes that result from the adoption of ASU 2024-03 to materially impact its consolidated financial statements.
There are no other recently issued accounting pronouncements the Company has not yet adopted that will
materially impact the Company's consolidated financial statements.
v3.25.0.1
Summary of significant accounting policies (Tables)
 12 Months Ended
Jan. 31, 2025
Accounting Policies [Abstract]  
Schedule of property and equipment
The Company depreciates property and equipment over the following estimated useful lives:
Useful life
(years)
PhreesiaPads and Arrivals Kiosks3
Computer equipment
3
Computer software
3 to 5
Hardware development
3
Property and equipment at January 31, 2025 and 2024 are as follows:
January 31,
20252024
PhreesiaPads and Arrivals Kiosks$15,763 $18,610 
Computer equipment
77,704 62,888 
Computer software
14,114 11,687 
Hardware development
575 576 
Total property and equipment
$108,156 $93,761 
Less: accumulated depreciation(84,505)(76,859)
Property and equipment — net$23,651 $16,902 
v3.25.0.1
Composition of certain financial statement captions (Tables)
 12 Months Ended
Jan. 31, 2025
Composition Of Certain Financial Statement [Abstract]  
Schedule of accrued expenses
Accrued expenses at January 31, 2025 and 2024 are as follows:
January 31,
20252024
Payroll-related expenses and taxes$12,016 $8,981 
Stock-based compensation liability6,135 5,890 
Payment processing fees liability6,578 6,008 
Acquisition-related liabilities844 1,888 
Income and other tax liabilities2,503 3,042 
Information technology4,562 5,927 
Other4,822 5,394 
Total$37,460 $37,130 
Schedule of property and equipment
The Company depreciates property and equipment over the following estimated useful lives:
Useful life
(years)
PhreesiaPads and Arrivals Kiosks3
Computer equipment
3
Computer software
3 to 5
Hardware development
3
Property and equipment at January 31, 2025 and 2024 are as follows:
January 31,
20252024
PhreesiaPads and Arrivals Kiosks$15,763 $18,610 
Computer equipment
77,704 62,888 
Computer software
14,114 11,687 
Hardware development
575 576 
Total property and equipment
$108,156 $93,761 
Less: accumulated depreciation(84,505)(76,859)
Property and equipment — net$23,651 $16,902 
Schedule of intangible assets
The following presents the details of intangible assets as of January 31, 2025 and 2024.
Useful LifeJanuary 31,
(years)20252024
Acquired technology
5 to 7
$9,310 $9,310 
Customer relationship
7 to 15
17,940 17,940 
License156,200 6,200 
Trademarks153,100 3,100 
Total intangible assets, gross carrying value$36,550 $36,550 
Less: accumulated amortization(8,407)(4,925)
Net carrying value$28,143 $31,625 
Schedule of estimated amortization expense for intangible assets
The estimated amortization expense for intangible assets for the next five years and thereafter is as follows as of January 31, 2025:
January 31, 2025
2026$3,450 
20273,157 
20283,157 
20293,057 
Thereafter15,322 
Total$28,143 
Schedule of goodwill
The following table presents a roll-forward of goodwill for the years ended January 31, 2025 and 2024:
Balance, January 31, 2023$33,736 
Goodwill acquired during the year ended January 31, 202442,109 
Balance, January 31, 2024$75,845 
Balance, January 31, 2025$75,845 
Schedule of accounts receivable
Accounts Receivable as of January 31, 2025 and 2024 are as follows:
January 31,
20252024
Billed$70,342 $62,880 
Unbilled4,743 3,375 
Total accounts receivable, gross$75,085 $66,255 
Less: accounts receivable allowances(1,468)(1,392)
Total accounts receivable$73,617 $64,863 
Schedule of allowance for doubtful accounts
Activity in the Company's allowance for doubtful accounts was as follows for the years ended January 31, 2025 and 2024:
Balance, January 31, 2023$1,053 
Bad debt expense377 
Increases due to acquisitions681 
Write-offs and adjustments(719)
Balance, January 31, 2024$1,392 
Bad debt expense1,054 
Write-offs and adjustments(978)
Balance, January 31, 2025
$1,468 
Schedule of prepaid and other current assets
Prepaid and other current assets as of January 31, 2025 and 2024 are as follows:
January 31,
20252024
Prepaid software and business systems$6,849 $4,922 
Prepaid data center expenses3,558 3,872 
Prepaid insurance912 1,257 
Other prepaid expenses and other current assets4,552 4,410 
Total prepaid and other current assets$15,871 $14,461 
v3.25.0.1
Revenue and contract costs (Tables)
 12 Months Ended
Jan. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of rollforward of contract assets and contract liabilities
The following table represents a roll-forward of contract assets:
January 31,
20252024
Beginning balance$3,375 $989 
Amount transferred to receivables from beginning balance of contract assets(3,375)(989)
Contract asset additions, net of reclassification to receivables4,743 3,375 
Ending balance$4,743 $3,375 
The following table represents a roll-forward of deferred revenue:
 January 31,
20252024
Beginning balance$24,210 $17,813 
Revenue recognized that was included in deferred revenue at the beginning of the period(23,335)(17,388)
Deferred revenue added from acquisitions— 5,665 
Other current year activity in deferred revenue32,002 18,120 
Ending balance$32,877 $24,210 
Schedule of deferred contract acquisition costs
The following table represents a roll-forward of deferred contract acquisition costs:
January 31,
20252024
Beginning balance$1,754 $2,810 
Additions to deferred contract acquisition costs1,045 — 
Amortization of deferred contract acquisition costs(1,815)(1,056)
Ending balance$984 $1,754 
Deferred contract acquisition costs, current (to be amortized in next 12 months)$401 $768 
Deferred contract acquisition costs, non-current583 986 
Total deferred contract acquisition costs$984 $1,754 
v3.25.0.1
Finance leases and other debt (Tables)
 12 Months Ended
Jan. 31, 2025
Debt Disclosure [Abstract]  
Schedule of long-term debt instruments
As of January 31, 2025 and 2024, the Company had the following outstanding finance lease liabilities and other debt:
January 31,
20252024
Finance leases$14,256 $8,309 
Financing arrangements1,913 3,124 
Accrued interest and payments24 23 
Total finance lease liabilities and other debt$16,193 $11,456 
Less: current portion of finance lease liabilities and other debt(8,043)(6,056)
Long-term finance lease liabilities and other debt$8,150 $5,400 
Schedule of long-term debt and finance lease maturities
Maturities of finance leases and other debt in each of the next five years and thereafter are as follows:
 TotalFinance LeasesOther Debt
Fiscal year ending January 31,
2026$8,043 $6,825 $1,218 
20276,033 5,314 719 
20282,117 2,117 — 
Total maturities of finance leases and other debt$16,193 $14,256 $1,937 
Schedule of components of interest (expense) income, net
The following table presents the components of interest income, net:
Fiscal years ended January 31,
 202520242023
Interest expense (1)
$(2,347)$(1,854)$(1,411)
Interest income2,677 4,065 2,475 
Interest income, net$330 $2,211 $1,064 
(1) Includes amortization of deferred financing costs and original issue discount
v3.25.0.1
Stockholders' equity (Tables)
 12 Months Ended
Jan. 31, 2025
Equity [Abstract]  
Schedule of Accumulated Other Comprehensive Loss
Activity in accumulated other comprehensive loss was as follows for the fiscal year ended January 31, 2025:
 Foreign Currency Translation AdjustmentAccumulated Other Comprehensive Loss
Balance as of January 31, 2024$— $— 
Other comprehensive loss(51)(51)
Balance as of January 31, 2025
$(51)$(51)
v3.25.0.1
Equity-based compensation (Tables)
 12 Months Ended
Jan. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of stock based compensation by type of award
The following table sets forth stock-based compensation by type of award:
For the fiscal years ended
January 31,
 202520242023
RSUs$44,696 $53,474 $42,214 
PSUs13,174 9,206 7,282 
Liability awards9,316 9,047 7,641 
ESPP1,149 1,256 1,521 
Stock options2 45 1,489 
Total stock-based compensation$68,337 $73,028 $60,147 
Schedule of stock based compensation in financial statements
The following table sets forth the presentation of stock-based compensation in the Company's consolidated financial statements:
For the fiscal years ended
January 31,
 202520242023
Stock-based compensation expense recorded to additional paid-in capital$59,021 $63,981 $52,506 
Stock-based compensation expense recorded to accrued expenses9,316 9,047 7,641 
Total stock-based compensation$68,337 $73,028 $60,147 
Less: stock-based compensation expense capitalized as internal-use software(1,362)(1,415)(1,372)
Stock-based compensation expense per consolidated statements of operations$66,975 $71,613 $58,775 
Schedule of restricted stock unit activity
Restricted stock units
Unvested, January 31, 20223,133,839 
Granted during year
2,907,838 
Vested(1,626,679)
Forfeited and expired(497,245)
Unvested, January 31, 20233,917,753 
Granted during year (1)
2,419,679 
Vested(1,912,432)
Forfeited and expired(624,790)
Unvested, January 31, 20243,800,210 
Granted during year
2,135,391 
Vested(1,897,716)
Forfeited and expired (439,937)
Unvested, January 31, 2025
3,597,948 
(1) Includes 24,125 awards granted pursuant to the 2023 Inducement Award Plan.
Schedule of stock option activity
Stock option activity for the fiscal years ended January 31, 2025, 2024 and 2023 is as follows:
Number of
options		Weighted-
average
exercise price		Weighted-
average
remaining
contractual life
(in years)		Aggregate intrinsic
value
Outstanding — January 31, 20221,705,150 $6.01 
Granted during the year— $— 
Exercised(311,743)$4.92 
Forfeited and expired(8,214)$4.68 
Outstanding and expected to vest — January 31, 2023
1,385,193 $6.26 5.06$43,341 
Outstanding — January 31, 20231,385,193 $6.26 
Granted during the year— $— 
Exercised(249,247)$3.42 
Forfeited and expired(12,508)$5.87 
Outstanding and expected to vest — January 31, 2024
1,123,438 $6.89 4.54$20,884 
Outstanding — January 31, 20241,123,438 $6.89 
Granted during the year— $— 
Exercised(220,523)$4.64 
Forfeited and expired(3,534)$20.67 
Outstanding and expected to vest — January 31, 2025
899,381 $7.39 3.66$18,952 
Exercisable — January 31, 2025
899,381 $7.39 3.66$18,952 
Amount vested during year ended January 31, 2025
— $— 
Schedule of measurement inputs and valuation techniques
The fair value of the PSUs granted during the fiscal years ended January 31, 2025, 2024 and 2023, respectively, was estimated using the following assumptions:
Fiscal years ended January 31,
 202520242023
Correlation coefficient0.5305 0.5238 0.4957 
Valuation date stock price$25.19 $22.94 $35.41 
Simulation term3.0 years3.0 years3.0 years
Volatility64.18 %64.58 %64.98 %
Risk-free rate4.24 %4.05 %3.84 %
Dividend yield— %— %— %
Weighted average fair value of grants
$42.86 $36.42 $56.52 
Schedule of market-based performance stock unit activity
Market-based PSU activity for the years ended January 31, 2025, 2024 and 2023 are as follows:
Performance
stock units
Outstanding, February 1, 2022396,216 
Granted during the year ended January 31, 2023255,572 
Vested— 
Forfeited and expired(3,555)
Outstanding, February 1, 2023648,233 
Granted during the year ended January 31, 2024576,680 
Vested(67,251)
Forfeited(117,443)
Outstanding, February 1, 20241,040,219 
Granted during the year ended January 31, 2025
434,269 
Vested(255,269)
Forfeited(14,248)
Outstanding, January 31, 2025
1,204,971 
Schedule of ESPP valuation assumptions
The fair value of shares granted under the ESPP during the year ended January 31, 2025 was estimated using a Black-Scholes pricing model with the following assumptions:
Year ended
January 31, 2025		Year ended
January 31, 2024		Year ended
January 31, 2023
Risk-free interest rate
4.74 %5.30 %3.68 %
Expected dividends
nonenonenone
Expected term (in years)
0.49 years0.49 years0.47 years
Volatility
52.96 %62.41 %74.78 %
v3.25.0.1
Fair value measurements (Tables)
 12 Months Ended
Jan. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of fair value, assets and liabilities measured on recurring basis
The following table presents information about the Company's assets and liabilities that are measured at fair value as of January 31, 2025 and indicates the classification of each item within the fair value hierarchy:
 Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)		Balance as of January 31, 2025
 
Money market mutual funds$66,588 $— $— $66,588 
Total assets$66,588 $— $— $66,588 
The following table presents information about the Company's assets and liabilities that are measured at fair value as of January 31, 2024 and indicates the classification of each item within the fair value hierarchy:
 Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)		Balance as of January 31, 2024
 
Money market mutual funds$58,942 $— $— $58,942 
Total assets$58,942 $— $— $58,942 
v3.25.0.1
Leases (Tables)
 12 Months Ended
Jan. 31, 2025
Leases [Abstract]  
Schedule of operating and finance leases
Supplemental balance sheet information related to operating and finance leases as of January 31, 2025 and 2024 was as follows:
January 31,
20252024
Operating leases:
Lease right-of-use assets$1,477 $266 
Lease liabilities, current$964 $393 
Lease liabilities, non-current646 134 
Total operating lease liabilities$1,610 $527 
Finance leases:
Property and equipment, at cost$49,009 $35,250 
Accumulated depreciation(34,815)(27,399)
Property and equipment, net$14,194 $7,851 
Lease liabilities, current (included in Current portion of finance lease liabilities and other debt)$6,825 $4,958 
Lease liabilities, non-current (included in Long-term finance lease liabilities and other debt)7,431 3,351 
Total finance lease liabilities$14,256 $8,309 
Schedule of lease expense and cash flow information
The components of lease expense for the years ended January 31, 2025, 2024 and 2023 were as follows:
Fiscal years ended
January 31,
202520242023
Operating leases:
Operating lease cost$983 $740 $1,835 
Variable lease cost— 47 62 
Total operating lease cost$983 $787 $1,897 
Finance leases:
Amortization of right-of-use assets$7,416 $6,742 $5,632 
Interest on lease liabilities980 580 368 
Total finance lease cost$8,396 $7,322 $6,000 
Other supplemental cash flow information for the years ended January 31, 2025, 2024 and 2023 was as follows:
Fiscal years ended
January 31,
202520242023
Supplemental cash flow information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash used for operating leases$1,023 $1,238 $1,347 
Operating cash used for finance leases$980 $535 $396 
Financing cash used for finance leases$7,811 $6,779 $5,731 
Schedule of maturing lease commitments of operating leases
The following represents a schedule of maturing lease commitments for operating and finance leases as of January 31, 2025:
January 31, 2025
OperatingFinance
Maturity of lease liabilities
Fiscal year ending January 31,
2026$1,053 $7,705 
2027583 5,688 
202885 2,169 
Total future minimum lease payments$1,721 $15,562 
Less: interest(111)(1,306)
Present value of lease liabilities$1,610 $14,256 
Schedule of maturing lease commitments of finance leases
The following represents a schedule of maturing lease commitments for operating and finance leases as of January 31, 2025:
January 31, 2025
OperatingFinance
Maturity of lease liabilities
Fiscal year ending January 31,
2026$1,053 $7,705 
2027583 5,688 
202885 2,169 
Total future minimum lease payments$1,721 $15,562 
Less: interest(111)(1,306)
Present value of lease liabilities$1,610 $14,256 
v3.25.0.1
Commitments and contingencies (Tables)
 12 Months Ended
Jan. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of minimum payments under purchase commitments
Other contractual commitments consist primarily of non-cancelable purchase commitments to support our technology infrastructure. Future minimum payments under our non-cancelable contractual commitments as of January 31, 2025 are presented in the table below.
Purchase obligations
Fiscal year ending January 31,
2026$7,898 
20275,281 
20282,280 
2029742 
Total$16,201 
v3.25.0.1
Income taxes (Tables)
 12 Months Ended
Jan. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of income tax (benefit)
The Company's income tax provision consisted of the following for fiscal 2025, 2024 and 2023:
Fiscal years ended January 31,
202520242023
Current tax
Federal$— $— $— 
State102 76 49 
Foreign2,400 1,239 — 
Deferred tax
Federal214 38 109 
State— — — 
Foreign— 190 325 
Total provision for income taxes$2,716 $1,543 $483 
Schedule of effective tax rate
A reconciliation of the statutory U.S. federal income tax rate to the Company's effective tax rate for fiscal 2025, 2024 and 2023 is as follows:
Fiscal years ended January 31,
202520242023
Federal income tax benefit at statutory rate21 %21 %21 %
State and local tax, net of federal benefit4 %3 %5 %
Permanent differences1 %— %— %
Equity compensation(6)%— %— %
Foreign taxes(3)%(1)%— %
Other— %— %— %
Change in valuation allowance(22)%(24)%(26)%
Effective income tax rate(5)%(1)%— %
Schedule of deferred tax assets and liabilities
The significant components of the Company's deferred tax assets and liabilities as of January 31, 2025 and 2024 are as follows:
January 31,
Deferred tax assets:20252024
Net operating loss carryforwards$160,998 $160,791 
Stock based compensation9,495 9,278 
Accruals, reserves, and other expenses15,2483,668
Reserve for bad debts704 793 
Disallowed interest expense9691,041
Depreciation and amortization1,412 1,829 
Total deferred tax assets$188,826 $177,400 
Less: valuation allowance(188,712)(176,641)
Net deferred tax assets$114 $759 
Deferred tax liabilities:
Depreciation and amortization$— $— 
Intangible assets(340)(569)
Deferred contract acquisition costs(258)(460)
Total deferred tax liabilities$(598)$(1,029)
Net deferred tax liabilities$(484)$(270)
Schedule of unrecognized tax benefits
The following is a roll-forward of the Company's total gross unrecognized tax benefits for fiscal 2025:
Balance, January 31, 2023$— 
Increases for income tax positions related to prior years844 
Increases for income tax positions related to current years396 
Balance, January 31, 2024$1,240 
Increases for income tax positions related to prior years— 
Increases for income tax positions related to current years365 
Balance, January 31, 2025
$1,605 
v3.25.0.1
Net loss per share attributable to common stockholders (Tables)
 12 Months Ended
Jan. 31, 2025
Earnings Per Share [Abstract]  
Schedule of earnings per share, basic and diluted
Basic and diluted net loss per share attributable to common stockholders was calculated as follows:
Fiscal years ended January 31,
202520242023
Numerator:
Net loss$(58,527)$(136,885)$(176,146)
Denominator:
Weighted-average shares of common stock outstanding, basic and diluted57,589,687 54,561,449 52,440,067 
Net loss per share attributable to common stockholders$(1.02)$(2.51)$(3.36)
Schedule of shares excluded from computation of diluted net loss per share The following potential shares of common stock, presented based on amounts outstanding at each period end, were excluded from the calculation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect:
Fiscal years ended January 31,
202520242023
Stock options to purchase common stock, restricted stock units and performance stock awards6,577,715 7,273,621 6,745,591 
Employee stock purchase plan71,848 91,452 74,685 
Total6,649,563 7,365,073 6,820,276 
v3.25.0.1
Segments and geographic information (Tables)
 12 Months Ended
Jan. 31, 2025
Segment Reporting [Abstract]  
Schedule of information about segment revenue, segment profit or loss, significant segment expenses and other quantitative segment disclosures
The following table presents the Company’s segment revenue, segment profit (loss), significant segment expenses, and other segment items, as well as a reconciliation from segment profit (loss) to consolidated net loss.
Fiscal years ended January 31,
2025
2024
2023
Revenue
$419,813 $356,299 $280,910 
Labor costs (1)
224,792238,533240,532
Payment processing expense68,70762,98650,323
Third-party non-labor operating expenses
89,55090,15982,528
Stock-based compensation
66,97571,61358,775
Other segment items
28,31629,89324,898
Segment net loss
$(58,527)$(136,885)$(176,146)
Reconciliation of profit or loss
Adjustments and reconciling items
$— $— $— 
Consolidated net loss
$(58,527)$(136,885)$(176,146)
(1) Excludes stock-based compensation expense which is presented separately
The following table presents other quantitative segment disclosures for the fiscal years ended January 31, 2025, 2024 and 2023, respectively.
Fiscal years ended January 31,
2025
2024
2023
Depreciation and amortization
$27,886 $29,487 $25,304 
Interest income, net
$330 $2,211 $1,064 
Loss on extinguishment of debt$— $(1,118)$— 
Gain on settlement (included in other income (expense), net)$2,345 $— $— 
Provision for income taxes
$(2,716)$(1,543)$(483)
Expenditures for long-lived assets
$25,940 $96,474 $17,270 
v3.25.0.1
Acquisitions (Tables)
 12 Months Ended
Jan. 31, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of purchase price considerations at acquisition date
The following table summarizes the estimated acquisition-date fair value of consideration transferred for each acquisition:
MediFindAccessConnectOnCallTotal
Cash consideration paid to sellers$4,195 $6,766 $3,946 $14,907 
Equity consideration paid to sellers4,676 30,645 — 35,321 
Liabilities incurred to sellers— — 10,000 10,000 
Total fair value of acquisition consideration$8,871 $37,411 $13,946 $60,228 

The following table summarizes the calculation of cash paid for each acquisition, net of cash acquired per the Company's consolidated statements of cash flows for the fiscal year ended January 31, 2024.
MediFindAccessConnectOnCallTotal
Cash consideration paid to sellers$4,195 $6,766 $3,946 $14,907 
Less: cash acquired(231)(80)(23)(334)
Cash paid for acquisitions, net of cash acquired per statements of cash flows$3,964 $6,686 $3,923 $14,573 
Schedule of allocation of purchase price of assets acquired and liabilities assumed
The following table summarizes the allocation of the purchase price to the assets acquired and liabilities assumed at the date of each acquisition:

MediFindAccessConnectOnCallTotal
Cash$231 $80 $23 $334 
Accounts receivable149 1,870 244 2,263 
Other current assets722 110 33 865 
Identified intangible assets acquired2,300 18,300 2,000 22,600 
Goodwill6,821 23,426 11,862 42,109 
Total assets acquired$10,223 $43,786 $14,162 $68,171 
Accounts payable(121)(196)(89)(406)
Accrued liabilities(816)(884)(49)(1,749)
Deferred revenue(292)(5,295)(78)(5,665)
Deferred income tax liabilities(123)— — (123)
Total purchase price$8,871 $37,411 $13,946 $60,228 
Schedule of intangible assets acquired
The components of intangible assets acquired in the MediFind Acquisition were as follows:
Estimated Useful Life
(in Years)		Fair Value
Technology7$1,200 
Trademark15700 
Customer relationships10400 
Total identifiable intangible assets acquired$2,300 
The components of intangible assets acquired in the Access Acquisition were as follows:
Estimated Useful Life
(in Years)		Fair Value
Technology7$5,200 
Trademark152,400 
Customer relationships1510,700 
Total identifiable intangible assets acquired$18,300 
The components of intangible assets acquired in the ConnectOnCall Acquisition were as follows:
Estimated Useful Life
(in Years)		Fair Value
Technology5$1,500 
Customer relationships15500 
Total identifiable intangible assets acquired$2,000 
v3.25.0.1
Background and liquidity (Details)
 12 Months Ended
Jan. 31, 2025
Third SVB Facility  
Debt Instrument [Line Items]  
Number of months with sufficient funds to operate (in months) 12 months
v3.25.0.1
Summary of significant accounting policies - Schedule of property and equipment (Details)
Jan. 31, 2025
PhreesiaPads and Arrivals Kiosks  
Property, Plant and Equipment [Line Items]  
Useful life (in years) 3 years
Computer equipment  
Property, Plant and Equipment [Line Items]  
Useful life (in years) 3 years
Computer software | Maximum  
Property, Plant and Equipment [Line Items]  
Useful life (in years) 5 years
Computer software | Minimum  
Property, Plant and Equipment [Line Items]  
Useful life (in years) 3 years
Hardware development  
Property, Plant and Equipment [Line Items]  
Useful life (in years) 3 years
v3.25.0.1
Summary of significant accounting policies - Narrative (Details)
 12 Months Ended
Jan. 31, 2025
USD ($)
processor
Jan. 31, 2024
USD ($)
Jan. 31, 2023
USD ($)
Accounting Policies [Line Items]      
Number of third party payment processors | processor 1    
Advertising expense $ 1,675,000 $ 1,900,000 $ 2,634,000
Allowance for doubtful accounts 1,468,000 1,392,000 1,053,000
Asset impairment charges $ 0 $ 0 $ 0
ESPP      
Accounting Policies [Line Items]      
Employee purchase price of common stock (as a percent) 85.00%    
Minimum      
Accounting Policies [Line Items]      
Customer payment period 30 days    
Settlement period (in days) 1 day    
Minimum | Computer software      
Accounting Policies [Line Items]      
Finite-lived intangible asset, useful life 3 years    
Maximum      
Accounting Policies [Line Items]      
Customer payment period 60 days    
Settlement period (in days) 2 days    
Maximum | Computer software      
Accounting Policies [Line Items]      
Finite-lived intangible asset, useful life 5 years    
v3.25.0.1
Composition of certain financial statement captions - Schedule of accrued expenses (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Composition Of Certain Financial Statement [Abstract]    
Payroll-related expenses and taxes $ 12,016 $ 8,981
Stock-based compensation liability 6,135 5,890
Payment processing fees liability 6,578 6,008
Acquisition-related liabilities 844 1,888
Income and other tax liabilities 2,503 3,042
Information technology 4,562 5,927
Other 4,822 5,394
Total $ 37,460 $ 37,130
v3.25.0.1
Composition of certain financial statement captions - Narrative (Details) - USD ($)
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Oct. 31, 2023
Finite-Lived Intangible Assets [Line Items]        
Other current liabilities $ 0 $ 5,875,000    
Other long-term liabilities 185,000 2,857,000    
Contingent consideration, settlement gain 2,345,000 0 $ 0  
Financing payments of acquisition-related liabilities 6,254,000 1,333,000 0  
Depreciation 14,183,000 17,584,000 17,988,000  
Property and equipment, at cost 49,009,000 35,250,000    
Assets under finance lease, accumulated amortization 34,815,000 27,399,000    
Capitalized cost of computer software 16,846,000 19,521,000 23,604,000  
Capitalized computed software amortization 10,222,000 9,527,000 5,945,000  
Amortization of intangible assets 3,481,000 $ 2,376,000 1,371,000  
Market capitalization exceeded carrying value of equity percentage   100.00%   100.00%
Impairment of goodwill 0 $ 0 0  
Accounts receivable, allowance for credit loss, write-off 0 0 0  
Capitalized implementation costs 1,532,000 1,532,000    
Capitalized implementation costs, accumulated amortization 1,432,000 1,021,000    
Other income (expense), net 1,956,000 $ 44,000 $ (175,000)  
ConnectOnCall        
Finite-Lived Intangible Assets [Line Items]        
Settlement provided for reduced payment 4,950,000      
Outstanding balance of deferred consideration liabilities 0      
Contingent consideration, settlement gain 2,345,000      
Financing payments of acquisition-related liabilities 4,581,000      
Payment to settle contingent consideration, operating activities $ 369,000      
Acquired technology        
Finite-Lived Intangible Assets [Line Items]        
Finite-lived intangible assets, remaining amortization period (in years) 5 years 1 month 6 days 6 years    
Customer relationship        
Finite-Lived Intangible Assets [Line Items]        
Finite-lived intangible assets, remaining amortization period (in years) 11 years 7 months 6 days 12 years 4 months 24 days    
License        
Finite-Lived Intangible Assets [Line Items]        
Finite-lived intangible assets, remaining amortization period (in years) 11 years 9 months 18 days 12 years 9 months 18 days    
Trademarks        
Finite-Lived Intangible Assets [Line Items]        
Finite-lived intangible assets, remaining amortization period (in years) 13 years 6 months 14 years 6 months    
Computer equipment        
Finite-Lived Intangible Assets [Line Items]        
Property and equipment, at cost $ 49,009,000 $ 35,250,000    
Assets under finance lease, accumulated amortization $ 34,815,000 $ 27,399,000    
v3.25.0.1
Composition of certain financial statement captions - Schedule of property and equipment (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Property, Plant and Equipment [Line Items]    
Total property and equipment $ 108,156 $ 93,761
Less: accumulated depreciation (84,505) (76,859)
Property and equipment — net $ 23,651 16,902
PhreesiaPads and Arrivals Kiosks    
Property, Plant and Equipment [Line Items]    
Useful life (in years) 3 years  
Total property and equipment $ 15,763 18,610
Computer equipment    
Property, Plant and Equipment [Line Items]    
Useful life (in years) 3 years  
Total property and equipment $ 77,704 62,888
Computer software    
Property, Plant and Equipment [Line Items]    
Total property and equipment $ 14,114 11,687
Computer software | Minimum    
Property, Plant and Equipment [Line Items]    
Useful life (in years) 3 years  
Computer software | Maximum    
Property, Plant and Equipment [Line Items]    
Useful life (in years) 5 years  
Hardware development    
Property, Plant and Equipment [Line Items]    
Useful life (in years) 3 years  
Total property and equipment $ 575 $ 576
v3.25.0.1
Composition of certain financial statement captions - Schedule of intangible assets (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Finite-Lived Intangible Assets [Line Items]    
Total intangible assets, gross carrying value $ 36,550 $ 36,550
Less: accumulated amortization (8,407) (4,925)
Net carrying value 28,143 31,625
Acquired technology    
Finite-Lived Intangible Assets [Line Items]    
Total intangible assets, gross carrying value $ 9,310 9,310
Acquired technology | Minimum    
Finite-Lived Intangible Assets [Line Items]    
Useful life (in years) 5 years  
Acquired technology | Maximum    
Finite-Lived Intangible Assets [Line Items]    
Useful life (in years) 7 years  
Customer relationship    
Finite-Lived Intangible Assets [Line Items]    
Total intangible assets, gross carrying value $ 17,940 17,940
Customer relationship | Minimum    
Finite-Lived Intangible Assets [Line Items]    
Useful life (in years) 7 years  
Customer relationship | Maximum    
Finite-Lived Intangible Assets [Line Items]    
Useful life (in years) 15 years  
License    
Finite-Lived Intangible Assets [Line Items]    
Useful life (in years) 15 years  
Total intangible assets, gross carrying value $ 6,200 6,200
Trademarks    
Finite-Lived Intangible Assets [Line Items]    
Useful life (in years) 15 years  
Total intangible assets, gross carrying value $ 3,100 $ 3,100
v3.25.0.1
Composition of certain financial statement captions - Schedule of future amortization expense (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Composition Of Certain Financial Statement [Abstract]    
2026 $ 3,450  
2027 3,157  
2028 3,157  
2029 3,057  
Thereafter 15,322  
Net carrying value $ 28,143 $ 31,625
v3.25.0.1
Composition of certain financial statement captions - Schedule of goodwill roll-forward (Details)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
USD ($)
Goodwill [Roll Forward]  
Goodwill balance at beginning of period $ 33,736
Goodwill acquired during the year 42,109
Goodwill balance at end of period $ 75,845
v3.25.0.1
Composition of certain financial statement captions - Schedule of accounts receivable (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Composition Of Certain Financial Statement [Abstract]      
Billed $ 70,342 $ 62,880  
Unbilled 4,743 3,375  
Total accounts receivable, gross 75,085 66,255  
Less: accounts receivable allowances (1,468) (1,392) $ (1,053)
Total accounts receivable $ 73,617 $ 64,863  
v3.25.0.1
Composition of certain financial statement captions - Schedule of allowance for doubtful accounts (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Accounts Receivable, Allowance for Credit Loss [Roll Forward]    
Allowance for doubtful accounts at beginning of period $ 1,392 $ 1,053
Bad debt expense 1,054 377
Increases due to acquisitions   681
Write-offs and adjustments (978) (719)
Allowance for doubtful accounts at end of period $ 1,468 $ 1,392
v3.25.0.1
Composition of certain financial statement captions - Schedule of prepaid and other current assets (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Composition Of Certain Financial Statement [Abstract]    
Prepaid software and business systems $ 6,849 $ 4,922
Prepaid data center expenses 3,558 3,872
Prepaid insurance 912 1,257
Other prepaid expenses and other current assets 4,552 4,410
Total prepaid and other current assets $ 15,871 $ 14,461
v3.25.0.1
Revenue and contract costs - Rollforward of contract assets and contract liabilities (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Contract With Customer Asset [Roll Forward]    
Beginning balance $ 3,375 $ 989
Amount transferred to receivables from beginning balance of contract assets (3,375) (989)
Contract asset additions, net of reclassification to receivables 4,743 3,375
Ending balance 4,743 3,375
Contract With Customer Liability [Roll Forward]    
Beginning balance 24,210 17,813
Revenue recognized that was included in deferred revenue at the beginning of the period (23,335) (17,388)
Deferred revenue added from acquisitions 0 5,665
Other current year activity in deferred revenue 32,002 18,120
Ending balance $ 32,877 $ 24,210
v3.25.0.1
Revenue and contract costs - Narrative (Details) - USD ($)
 3 Months Ended 12 Months Ended
Jan. 31, 2025
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Jan. 30, 2025
Revenue from External Customer [Line Items]          
Capitalized contract cost, amortization   $ 1,815,000 $ 1,056,000 $ 1,696,000  
Deferred contract acquisition costs 3 years 3 years     5 years
Capitalized contract cost, additional amortization $ 1,198,000        
Capitalized contract cost, impairment loss   $ 0 $ 0 $ 0  
Minimum          
Revenue from External Customer [Line Items]          
Capitalized contract cost, amortization period (in years) 3 years 3 years      
Maximum          
Revenue from External Customer [Line Items]          
Capitalized contract cost, amortization period (in years) 5 years 5 years      
v3.25.0.1
Revenue and contract costs - Schedule of deferred contract acquisition costs (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Capitalized Contract Cost [Roll Forward]      
Capitalized contract costs at beginning of period $ 1,754 $ 2,810  
Additions to deferred contract acquisition costs 1,045 0  
Amortization of deferred contract acquisition costs (1,815) (1,056) $ (1,696)
Capitalized contract costs at end of period 984 1,754 2,810
Deferred contract acquisition costs, current (to be amortized in next 12 months) 401 768  
Deferred contract acquisition costs, non-current 583 986  
Total deferred contract acquisition costs $ 984 $ 1,754 $ 2,810
v3.25.0.1
Finance leases and other debt - Schedule of outstanding loan balances (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Debt Instrument [Line Items]    
Finance leases $ 14,256 $ 8,309
Long-term debt 1,937  
Total finance lease liabilities and other debt 16,193 11,456
Less: current portion of finance lease liabilities and other debt (8,043) (6,056)
Long-term finance lease liabilities and other debt 8,150 5,400
Financing arrangements    
Debt Instrument [Line Items]    
Long-term debt 1,913 3,124
Accrued interest and payments    
Debt Instrument [Line Items]    
Long-term debt $ 24 $ 23
v3.25.0.1
Finance leases and other debt - Narrative (Details) - USD ($)
 1 Months Ended 12 Months Ended 13 Months Ended
Dec. 31, 2023
Jun. 30, 2023
Mar. 31, 2022
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Dec. 31, 2024
Mar. 30, 2022
May 31, 2020
Feb. 28, 2019
Debt Instrument [Line Items]                    
Long-term debt       $ 1,937,000            
Loss on extinguishment of debt       0 $ 1,118,000 $ 0        
Term loan                    
Debt Instrument [Line Items]                    
Debt instrument, face amount                   $ 20,000,000
Financing arrangements                    
Debt Instrument [Line Items]                    
Long-term debt       $ 1,913,000 $ 3,124,000          
Installment payment, amount   $ 123,000                
Debt instrument, term   36 months                
Effective interest rate percentage   10.50%                
Revolving Credit Facility | Second SVB Facility                    
Debt Instrument [Line Items]                    
Line of credit borrowing capacity                 $ 50,000,000  
Revolving Credit Facility | Third SVB Facility                    
Debt Instrument [Line Items]                    
Line of credit borrowing capacity     $ 100,000         $ 50,000    
Stated interest rate (as a percent)     3.25%              
Scheduled reduction in interest rate (as a percent)     0.50%              
Annual commitment fee     $ 250,000              
Quarterly fee (as a percent)     0.15%              
Loss on extinguishment of debt $ 1,118,000                  
Line of Credit | Senior Secured Asset-based Revolving Credit Facility | Revolving Credit Facility                    
Debt Instrument [Line Items]                    
Debt instrument, term             5 years      
Line of credit borrowing capacity 50,000                  
Quarterly fee (as a percent)             0.25%      
Interest rate (as a percent)       7.40%            
Debt issuance costs 778,000                  
Line of Credit | Senior Secured Asset-based Revolving Credit Facility | Bridge Loan                    
Debt Instrument [Line Items]                    
Line of credit borrowing capacity 5,000                  
Line of Credit | Senior Secured Asset-based Revolving Credit Facility | Letter of Credit                    
Debt Instrument [Line Items]                    
Line of credit borrowing capacity $ 5,000                  
v3.25.0.1
Finance leases and other debt - Schedule of Maturities of Finance Leases and Other Debt (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Total    
2026 $ 8,043  
2027 6,033  
2028 2,117  
Total maturities of finance leases and other debt 16,193  
Finance Leases    
2026 6,825  
2027 5,314  
2028 2,117  
Total finance lease liabilities 14,256 $ 8,309
Other Debt    
2026 1,218  
2027 719  
2028 0  
Total maturities of finance leases and other debt $ 1,937  
v3.25.0.1
Finance leases and other debt - Schedule of interest income (expense), net (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Debt Disclosure [Abstract]      
Interest expense $ (2,347) $ (1,854) $ (1,411)
Investment income 2,677 4,065 2,475
Interest income, net $ 330 $ 2,211 $ 1,064
v3.25.0.1
Stockholders' equity - Narrative (Details) - USD ($)
 12 Months Ended
Aug. 11, 2023
Jun. 30, 2023
Jan. 31, 2025
Jan. 31, 2024
Jan. 30, 2024
Jan. 31, 2023
Jan. 31, 2022
Jul. 22, 2019
Class of Stock [Line Items]                
Common stock, authorized (in shares)     500,000,000 500,000,000       500,000,000
Common stock, par value per share (in dollars per share)     $ 0.01 $ 0.01       $ 0.01
Shares withheld for tax withholding obligation     0          
Equity attributable to parent     $ 264,808,000 $ 251,449,000   $ 287,819,000 $ 417,280,000  
Amounts reclassified from accumulated other comprehensive loss     0          
Common stock                
Class of Stock [Line Items]                
Equity attributable to parent     601,000 577,000   542,000 521,000  
Common stock | MediFind                
Class of Stock [Line Items]                
Business acquisition, shares (in shares)   150,786            
Common stock | Access                
Class of Stock [Line Items]                
Business acquisition, shares (in shares) 1,096,436              
Accumulated other comprehensive loss                
Class of Stock [Line Items]                
Equity attributable to parent     $ (51,000) $ 0 $ 0 $ 0 $ 0  
v3.25.0.1
Stockholders' equity - Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance $ 251,449 $ 287,819 $ 417,280
Other comprehensive loss (51) 0 0
Ending balance 264,808 251,449 287,819
Foreign Currency Translation Adjustment      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance 0    
Other comprehensive loss (51)    
Ending balance (51) 0  
Accumulated Other Comprehensive Loss      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance 0 0 0
Other comprehensive loss (51)    
Ending balance $ (51) $ 0 $ 0
v3.25.0.1
Equity-based compensation - Narrative (Details)
$ / shares in Units, $ in Thousands
 1 Months Ended 12 Months Ended
Jan. 02, 2023
Jan. 01, 2021
Dec. 31, 2020
Jun. 30, 2019
shares
Jan. 31, 2025
USD ($)
offering_period
$ / shares
shares
Jan. 31, 2024
USD ($)
$ / shares
shares
Jan. 31, 2023
USD ($)
$ / shares
shares
Dec. 31, 2022
Jul. 31, 2023
shares
Jan. 31, 2018
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Reduced stock compensation expense         $ 1,333          
Weighted average fair market value of grants (in USD per share) | $ / shares         $ 21.93 $ 29.08 $ 26.79      
Intrinsic value         $ 4,210 $ 6,059 $ 6,970      
Minimum shares earned, minimum target percentage         55.00% 60.00% 60.00%      
Maximum shares earned, minimum target percentage         90.00%          
Issuance of common stock for employee stock purchase plan         $ 2,821 $ 3,235 $ 3,472      
Issuance of stock for share-settled bonus awards         $ 9,071 $ 9,041 $ 8,812      
Common stock                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Purchase of ESPP settlement (in shares) | shares         158,262 141,121 162,154      
Issuance of common stock for employee stock purchase plan         $ 2 $ 1 $ 2      
Issuance of stock for share-settled bonus awards         $ 4 $ 4 $ 3      
Issuance of stock for share-settled bonus awards (in shares) | shares         406,427 354,817 302,931      
Additional paid-in capital                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Issuance of common stock for employee stock purchase plan         $ 2,819 $ 3,234 $ 3,470      
Issuance of stock for share-settled bonus awards         $ 9,067 $ 9,037 $ 8,809      
ESPP                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
ESPP, employee common stock purchase discount (as a percent)         15.00%          
Unrecognized compensation costs         $ 463          
Weighted average term for recognition (in years)         5 months          
Employee purchase price of common stock (as a percent)         85.00%          
RSUs                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Vesting term (in years)     7 years              
Unrecognized compensation costs         $ 79,743          
Weighted average term for recognition (in years)         2 years 7 months 6 days          
Bonus settlement in shares (as a percent)         115.00%          
RSUs | Share-based Payment Arrangement, Year 1                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Vesting term (in years)     1 year              
Percentage of vest option (as a percent)     10.00%              
RSUs | Share-based Payment Arrangement, Year 2                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Vesting term (in years)     2 years              
Percentage of vest option (as a percent)     20.00%              
RSUs | Share-based Payment Arrangement, Year 3                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Vesting term (in years)     3 years              
Percentage of vest option (as a percent)     30.00%              
RSUs | Share-based Payment Arrangement, Year 4                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Vesting term (in years)     4 years              
Percentage of vest option (as a percent)     40.00%              
RSUs | Employees Other than NEOs                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Vesting term (in years)   4 years                
Quarterly vesting rate (as a percent)   6.25%                
RSUs | NEOs and Other Members of Executive Management                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Vesting term (in years) 4 years             4 years    
Quarterly vesting rate (as a percent) 25.00%             6.25%    
Stock options                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Vesting term (in years)         4 years          
Expiration period / maximum term (in years)         10 years          
Unrecognized compensation cost         $ 0          
PSUs                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Vesting term (in years)         3 years          
Percentage of vest option (as a percent)         100.00%          
Awards grants, performance vesting percentage         53.50%          
Unrecognized compensation costs         $ 34,528          
Weighted average term for recognition (in years)         2 years 4 months 24 days          
Weighted average fair market value of grants (in USD per share) | $ / shares         $ 42.86 $ 36.42 $ 56.52      
PSUs | Minimum                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Percentage of vest option (as a percent)         0.00%          
PSUs | Maximum                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Percentage of vest option (as a percent)         220.00% 220.00% 220.00%      
2018 Stock Option Plan                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Number of shares available for issuance (in shares) | shares                   3,048,490
2019 Stock Option And Incentive Plan                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Common stock reserve for future issuance (in shares) | shares       2,139,683            
Percentage increase in number of shares reserved (as a percent)       5.00%            
2019 Stock Option And Incentive Plan | ESPP                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Number of shares available for grant (in shares) | shares       855,873 5,120,841          
Additional shares authorized (in shares) | shares         279,958          
ESPP, number of offering periods per year | offering_period         2          
ESPP offering period (in months)         6 months          
2019 Stock Option And Incentive Plan | Stock options | Share-based Payment Arrangement, Year 1                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Vesting term (in years)         1 year          
Percentage of vest option (as a percent)         25.00%          
2019 Stock Option And Incentive Plan | Stock options | Share-based Payment Arrangement, Year 2                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Vesting term (in years)         1 year          
Percentage of vest option (as a percent)         25.00%          
2019 Stock Option And Incentive Plan | Stock options | Share-based Payment Arrangement, Year 3                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Vesting term (in years)         1 year          
Percentage of vest option (as a percent)         25.00%          
2019 Stock Option And Incentive Plan | Stock options | Share-based Payment Arrangement, Year 4                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Vesting term (in years)         1 year          
Percentage of vest option (as a percent)         25.00%          
2023 Inducement Award Plan                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Common stock reserve for future issuance (in shares) | shares                 500,000  
2023 Inducement Award Plan | RSUs                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Number of shares available for grant (in shares) | shares         482,658          
Equity instruments, outstanding, number (in shares) | shares         12,747          
v3.25.0.1
Equity-based compensation - Stock-based compensation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total stock based compensation $ 68,337 $ 73,028 $ 60,147
RSUs      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total stock based compensation 44,696 53,474 42,214
PSUs      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total stock based compensation 13,174 9,206 7,282
Liability awards      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total stock based compensation 9,316 9,047 7,641
ESPP      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total stock based compensation 1,149 1,256 1,521
Stock options      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total stock based compensation $ 2 $ 45 $ 1,489
v3.25.0.1
Equity-based compensation - Stock-based compensation in our financial statements (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total stock-based compensation $ 68,337 $ 73,028 $ 60,147
Less: stock-based compensation expense capitalized as internal-use software (1,362) (1,415) (1,372)
Stock-based compensation expense per consolidated statements of operations 66,975 71,613 58,775
Equity Based Award      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total stock-based compensation 59,021 63,981 52,506
Liability Based Award      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total stock-based compensation $ 9,316 $ 9,047 $ 7,641
v3.25.0.1
Equity-based compensation - Performance-based restricted stock units (Details) - shares
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
RSUs      
Restricted Stock Unit Activity:      
Beginning balance (in shares) 3,800,210 3,917,753 3,133,839
Granted during year (in shares) 2,135,391 2,419,679 2,907,838
Vested (in shares) (1,897,716) (1,912,432) (1,626,679)
Forfeited and expired (in shares) (439,937) (624,790) (497,245)
Ending balance (in shares) 3,597,948 3,800,210 3,917,753
RSUs | 2023 Inducement Award Plan      
Restricted Stock Unit Activity:      
Granted during year (in shares)   24,125  
PSUs      
Restricted Stock Unit Activity:      
Beginning balance (in shares) 1,040,219 648,233 396,216
Granted during year (in shares) 434,269 576,680 255,572
Vested (in shares) (255,269) (67,251) 0
Forfeited and expired (in shares) (14,248) (117,443) (3,555)
Ending balance (in shares) 1,204,971 1,040,219 648,233
v3.25.0.1
Equity-based compensation - Stock option activity (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Number of options      
Number of options outstanding at beginning of period (in shares) 1,123,438 1,385,193 1,705,150
Granted during the year (in shares) 0 0 0
Exercised (in shares) (220,523) (249,247) (311,743)
Forfeited and expired (in shares) (3,534) (12,508) (8,214)
Number of options outstanding at end of period (in shares) 899,381 1,123,438 1,385,193
Exercisable (in shares) 899,381    
Amount vested at the end of the period (in shares) 0    
Weighted- average exercise price      
Weighted- average exercise price outstanding at beginning of period (in dollars per share) $ 6.89 $ 6.26 $ 6.01
Granted during the year (in dollars per share) 0 0 0
Exercised (in dollars per share) 4.64 3.42 4.92
Forfeited and expired (in dollars per share) 20.67 5.87 4.68
Weighted- average exercise price outstanding at end of period (in dollars per share) 7.39 $ 6.89 $ 6.26
Exercisable (in dollars per share) 7.39    
Amount vested at the end of the period (in dollars per share) $ 0    
Weighted-average remaining contractual life of options outstanding and expected to vest (in years) 3 years 7 months 28 days 4 years 6 months 14 days 5 years 21 days
Weighted-average remaining contractual life of options exercisable (in years) 3 years 7 months 28 days    
Aggregate intrinsic value outstanding and expected to vest $ 18,952 $ 20,884 $ 43,341
Aggregate intrinsic value exercisable $ 18,952    
v3.25.0.1
Equity-based compensation - Valuation allowance of performance-based restricted stock units (Details)
 12 Months Ended
Jan. 31, 2025
$ / shares
Jan. 31, 2024
$ / shares
Jan. 31, 2023
$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Weighted average fair market value of grants (in USD per share) $ 21.93 $ 29.08 $ 26.79
PSUs      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Correlation coefficient 0.5305 0.5238 0.4957
Valuation date stock price (in USD per share) $ 25.19 $ 22.94 $ 35.41
Simulation term (in years) 3 years 3 years 3 years
Volatility (as a percent) 64.18% 64.58% 64.98%
Risk-free rate (as a percent) 4.24% 4.05% 3.84%
Dividend yield (as a percent) 0.00% 0.00% 0.00%
Weighted average fair market value of grants (in USD per share) $ 42.86 $ 36.42 $ 56.52
v3.25.0.1
Equity-based compensation - Weighted average assumptions (Details) - ESPP
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Risk-free interest rate (as a percent) 4.74% 5.30% 3.68%
Expected dividends (as a percent) 0.00% 0.00% 0.00%
Expected term (in years) 5 months 26 days 5 months 26 days 5 months 19 days
Volatility (as a percent) 52.96% 62.41% 74.78%
v3.25.0.1
Fair value measurements (Details) - Fair Value, Recurring - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Money market mutual funds $ 66,588 $ 58,942
Total assets 66,588 58,942
Quoted Prices in Active Markets for Identical Assets (Level 1)    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Money market mutual funds 66,588 58,942
Total assets 66,588 58,942
Significant Other Observable Inputs (Level 2)    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Money market mutual funds 0 0
Total assets 0 0
Significant Unobservable Inputs (Level 3)    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Money market mutual funds 0 0
Total assets $ 0 $ 0
v3.25.0.1
Leases - Narrative (Details)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
USD ($)
extension_option
Jan. 31, 2024
USD ($)
Jan. 31, 2023
USD ($)
Lessee, Lease, Description [Line Items]      
Operating lease, weighted average remaining lease term (in years) 1 year 9 months 18 days    
Operating lease, weighted average discount rate (as a percent) 8.00%    
Finance lease, weighted average remaining lease term (in years) 1 year 7 months 6 days    
Finance lease, weighted average discount rate (as a percent) 7.50%    
Number of options to extend | extension_option 0    
Subscription and Related Services      
Lessee, Lease, Description [Line Items]      
Lease income | $ $ 9,329 $ 10,307 $ 10,197
Computer equipment | Minimum      
Lessee, Lease, Description [Line Items]      
Finance lease, term of contract (in years) 3 years    
Computer equipment | Maximum      
Lessee, Lease, Description [Line Items]      
Finance lease, term of contract (in years) 5 years    
v3.25.0.1
Leases - Schedule of operating and finance leases (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Leases [Abstract]    
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Property and equipment, net of accumulated depreciation and amortization of $84,505 and $76,859 as of January 31, 2025 and 2024, respectively Property and equipment, net of accumulated depreciation and amortization of $84,505 and $76,859 as of January 31, 2025 and 2024, respectively
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List] Long-Term Debt and Lease Obligation, Current Long-Term Debt and Lease Obligation, Current
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] Long-term finance lease liabilities and other debt Long-term finance lease liabilities and other debt
Operating leases:    
Lease right-of-use assets $ 1,477 $ 266
Lease liabilities, current 964 393
Lease liabilities, non-current 646 134
Total operating lease liabilities 1,610 527
Finance leases:    
Property and equipment, at cost 49,009 35,250
Accumulated depreciation (34,815) (27,399)
Property and equipment, net 14,194 7,851
Lease liabilities, current (included in Current portion of finance lease liabilities and other debt) 6,825 4,958
Lease liabilities, non-current (included in Long-term finance lease liabilities and other debt) 7,431 3,351
Total finance lease liabilities $ 14,256 $ 8,309
v3.25.0.1
Leases - Schedule of lease expenses (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Operating leases:      
Operating lease cost $ 983 $ 740 $ 1,835
Variable lease cost 0 47 62
Total operating lease cost 983 787 1,897
Finance leases:      
Amortization of right-of-use assets 7,416 6,742 5,632
Interest on lease liabilities 980 580 368
Total finance lease cost $ 8,396 $ 7,322 $ 6,000
v3.25.0.1
Leases - Schedule of maturing lease payments (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Operating    
2026 $ 1,053  
2027 583  
2028 85  
Total future minimum lease payments 1,721  
Less: interest (111)  
Total operating lease liabilities 1,610 $ 527
Finance    
2026 7,705  
2027 5,688  
2028 2,169  
Total future minimum lease payments 15,562  
Less: interest (1,306)  
Finance leases $ 14,256 $ 8,309
v3.25.0.1
Leases - Schedule of supplemental cash flow information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:      
Operating cash used for operating leases $ 1,023 $ 1,238 $ 1,347
Operating cash used for finance leases 980 535 396
Financing cash used for finance leases $ 7,811 $ 6,779 $ 5,731
v3.25.0.1
Commitments and contingencies - Narrative (Details)
Dec. 24, 2024
lawsuit
Commitments and Contingencies Disclosure [Abstract]  
Number of lawsuits filed 12
Number of lawsuits with granted motion to consolidate 13
v3.25.0.1
Commitments and contingencies - Schedule of minimum payments under purchase commitments (Details)
$ in Thousands
Jan. 31, 2025
USD ($)
Commitments and Contingencies Disclosure [Abstract]  
2026 $ 7,898
2027 5,281
2028 2,280
2029 742
Total $ 16,201
v3.25.0.1
Income taxes - Narrative (Details) - USD ($)
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Operating Loss Carryforwards [Line Items]      
Provision for income taxes $ 2,716,000 $ 1,543,000 $ 483,000
Effective tax rate (as a percent) (4.90%) (1.10%) (0.30%)
Deferred tax assets, valuation allowance $ 188,712,000 $ 176,641,000  
Increase in valuation allowance 12,071,000    
Unrecognized tax benefits 1,605,000 1,240,000 $ 0
Tax examination, penalties and interest accrued $ 0    
Research Tax Credit Carryforward      
Operating Loss Carryforwards [Line Items]      
Tax credit carryforward, expiration period 20 years    
Domestic Tax Jurisdiction      
Operating Loss Carryforwards [Line Items]      
Net operating loss carryforward $ 596,509,000 $ 598,975,000  
Foreign Tax Jurisdiction      
Operating Loss Carryforwards [Line Items]      
Net operating loss carryforward $ 0    
v3.25.0.1
Income taxes - Components of tax (benefit) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Current tax      
Federal $ 0 $ 0 $ 0
State 102 76 49
Foreign 2,400 1,239 0
Deferred tax      
Federal 214 38 109
State 0 0 0
Foreign 0 190 325
Total provision for income taxes $ 2,716 $ 1,543 $ 483
v3.25.0.1
Income taxes - Effective tax rate reconciliation (Details)
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Income Tax Disclosure [Abstract]      
Federal income tax benefit at statutory rate (as a percent) 21.00% 21.00% 21.00%
State and local tax, net of federal benefit (as a percent) 4.00% 3.00% 5.00%
Permanent differences (as a percent) 1.00% 0.00% 0.00%
Equity compensation (as a percent) (6.00%) 0.00% 0.00%
Foreign taxes (as a percent) (3.00%) (1.00%) 0.00%
Other (as a percent) 0.00% 0.00% 0.00%
Change in valuation allowance (as a percent) (22.00%) (24.00%) (26.00%)
Effective income tax rate (as a percent) (4.90%) (1.10%) (0.30%)
v3.25.0.1
Income taxes - Company's deferred tax assets and deferred tax liabilities (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Deferred tax assets:    
Net operating loss carryforwards $ 160,998 $ 160,791
Stock based compensation 9,495 9,278
Accruals, reserves, and other expenses 15,248 3,668
Reserve for bad debts 704 793
Disallowed interest expense 969 1,041
Depreciation and amortization 1,412 1,829
Total deferred tax assets 188,826 177,400
Less: valuation allowance (188,712) (176,641)
Net deferred tax assets 114 759
Deferred tax liabilities:    
Depreciation and amortization 0 0
Intangible assets (340) (569)
Deferred contract acquisition costs (258) (460)
Total deferred tax liabilities (598) (1,029)
Net deferred tax liabilities $ (484) $ (270)
v3.25.0.1
Income taxes - Unrecognized tax benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Unrecognized Tax Benefits [Roll Forward]    
Balance, January 31, 2023 $ 1,240 $ 0
Increases for income tax positions related to prior years 0 844
Increases for income tax positions related to current years 365 396
Balance, January 31, 2025 $ 1,605 $ 1,240
v3.25.0.1
Net loss per share attributable to common stockholders - Schedule of computation (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Numerator:      
Net loss $ (58,527) $ (136,885) $ (176,146)
Denominator:      
Weighted-average shares of common stock outstanding - basic (in shares) 57,589,687 54,561,449 52,440,067
Weighted-average shares of common stock outstanding - diluted (in shares) 57,589,687 54,561,449 52,440,067
Net loss per share attributable to common stockholders - basic (in dollars per share) $ (1.02) $ (2.51) $ (3.36)
Net loss per share attributable to common stockholders - diluted (in dollars per share) $ (1.02) $ (2.51) $ (3.36)
v3.25.0.1
Net loss per share attributable to common stockholders - Schedule of antidilutive securities (Details) - shares
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from computation of earnings per share (in shares) 6,649,563 7,365,073 6,820,276
Stock options to purchase common stock, restricted stock units and performance stock awards      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from computation of earnings per share (in shares) 6,577,715 7,273,621 6,745,591
Employee stock purchase plan      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from computation of earnings per share (in shares) 71,848 91,452 74,685
v3.25.0.1
Retirement savings plan (Details) - USD ($)
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Retirement Benefits [Abstract]      
Company contributions $ 0 $ 0 $ 0
v3.25.0.1
Related party transactions (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Related Party Transaction [Line Items]      
Revenues $ 419,813 $ 356,299 $ 280,910
Accounts receivable 73,617 64,863  
General and administrative 76,597 79,926 $ 80,384
Related Party      
Related Party Transaction [Line Items]      
Revenues 1,343 1,174  
Accounts receivable $ 116 416  
General and administrative   $ 118  
v3.25.0.1
Segments and geographic information - Narrative (Details)
 12 Months Ended
Jan. 31, 2025
segment
Segment Reporting [Abstract]  
Number of reportable segments 1
Number of operating segment 1
v3.25.0.1
Segments and geographic information - Expenditures on Long-Lived Assets (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Segment Reporting Information [Line Items]      
Total revenues $ 419,813 $ 356,299 $ 280,910
Payment processing expense 68,707 62,986 50,323
Stock-based compensation 66,975 71,613 58,775
Net loss (58,527) (136,885) (176,146)
Technology Solutions Segment      
Segment Reporting Information [Line Items]      
Net loss (58,527) (136,885) (176,146)
Technology Solutions Segment | Operating Segments      
Segment Reporting Information [Line Items]      
Total revenues 419,813 356,299 280,910
Labor costs 224,792 238,533 240,532
Payment processing expense 68,707 62,986 50,323
Third-party non-labor operating expenses 89,550 90,159 82,528
Stock-based compensation 66,975 71,613 58,775
Other segment items 28,316 29,893 24,898
Net loss (58,527) (136,885) (176,146)
Technology Solutions Segment | Eliminations and Reconciling Items      
Segment Reporting Information [Line Items]      
Net loss $ 0 $ 0 $ 0
v3.25.0.1
Segments and geographic information - Other Quantitative Segment Disclosures (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Segment Reporting Information [Line Items]      
Interest income, net $ 330 $ 2,211 $ 1,064
Loss on extinguishment of debt 0 (1,118) 0
Provision for income taxes (2,716) (1,543) (483)
Technology Solutions Segment      
Segment Reporting Information [Line Items]      
Depreciation and amortization 27,886 29,487 25,304
Interest income, net 330 2,211 1,064
Loss on extinguishment of debt 0 (1,118) 0
Gain on settlement (included in other income (expense), net) 2,345 0 0
Provision for income taxes (2,716) (1,543) (483)
Expenditures for long-lived assets $ 25,940 $ 96,474 $ 17,270
v3.25.0.1
Acquisitions - Narrative (Details)
$ in Thousands
 12 Months Ended
Oct. 03, 2023
USD ($)
installment
Aug. 11, 2023
USD ($)
shares
Jun. 30, 2023
USD ($)
shares
Jan. 31, 2025
USD ($)
Jan. 31, 2024
USD ($)
Business Acquisition [Line Items]          
Total consideration transferred         $ 60,228
MediFind          
Business Acquisition [Line Items]          
Percentage of equity acquired (as a percent)     100.00%    
Total consideration transferred     $ 8,871    
Weighted average amortization period (in years)     10 years    
MediFind | Common stock          
Business Acquisition [Line Items]          
Business acquisition, shares (in shares) | shares     150,786    
Access          
Business Acquisition [Line Items]          
Percentage of equity acquired (as a percent)   100.00%      
Total consideration transferred   $ 37,411      
Weighted average amortization period (in years)   13 years      
Access | Common stock          
Business Acquisition [Line Items]          
Business acquisition, shares (in shares) | shares   1,096,436      
ConnectOnCall          
Business Acquisition [Line Items]          
Percentage of equity acquired (as a percent) 100.00%        
Total consideration transferred $ 13,946        
Number of quarterly installments | installment 7        
Appropriate credit-adjusted discount rate (as a percent)       9.30%  
Interest accrual per annum (as a percent)       9.30%  
Interest expense       $ 732 294
Weighted average amortization period (in years) 8 years        
MediFind, Access, and ConnectOnCall          
Business Acquisition [Line Items]          
Acquisition related costs incurred         $ 3,106
v3.25.0.1
Acquisitions - Schedule of MediFind Purchase Price Consideration (Details) - USD ($)
$ in Thousands
 12 Months Ended
Oct. 03, 2023
Aug. 11, 2023
Jun. 30, 2023
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Business Acquisition [Line Items]            
Cash consideration paid to sellers         $ 14,907  
Equity consideration paid to sellers       $ 0 35,321 $ 0
Liabilities incurred to sellers         10,000  
Total fair value of acquisition consideration         60,228  
MediFind            
Business Acquisition [Line Items]            
Cash consideration paid to sellers     $ 4,195   4,195  
Equity consideration paid to sellers     4,676      
Liabilities incurred to sellers     0      
Total fair value of acquisition consideration     $ 8,871      
Access            
Business Acquisition [Line Items]            
Cash consideration paid to sellers   $ 6,766     6,766  
Equity consideration paid to sellers   30,645        
Liabilities incurred to sellers   0        
Total fair value of acquisition consideration   $ 37,411        
ConnectOnCall            
Business Acquisition [Line Items]            
Cash consideration paid to sellers $ 3,946       $ 3,946  
Equity consideration paid to sellers 0          
Liabilities incurred to sellers 10,000          
Total fair value of acquisition consideration $ 13,946          
v3.25.0.1
Acquisitions - Schedule of Consideration Paid (Details) - USD ($)
$ in Thousands
 12 Months Ended
Oct. 03, 2023
Aug. 11, 2023
Jun. 30, 2023
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Business Acquisition [Line Items]            
Cash consideration paid to sellers         $ 14,907  
Less: cash acquired         (334)  
Cash paid for acquisitions, net of cash acquired per statements of cash flows       $ 0 14,573 $ 0
MediFind            
Business Acquisition [Line Items]            
Cash consideration paid to sellers     $ 4,195   4,195  
Less: cash acquired         (231)  
Cash paid for acquisitions, net of cash acquired per statements of cash flows         3,964  
Access            
Business Acquisition [Line Items]            
Cash consideration paid to sellers   $ 6,766     6,766  
Less: cash acquired         (80)  
Cash paid for acquisitions, net of cash acquired per statements of cash flows         6,686  
ConnectOnCall            
Business Acquisition [Line Items]            
Cash consideration paid to sellers $ 3,946       3,946  
Less: cash acquired         (23)  
Cash paid for acquisitions, net of cash acquired per statements of cash flows         $ 3,923  
v3.25.0.1
Acquisitions - Schedule of Final Allocation of MediFind Purchase Price (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Oct. 03, 2023
Aug. 11, 2023
Jun. 30, 2023
Jan. 31, 2023
Business Acquisition [Line Items]            
Cash     $ 334      
Accounts receivable     2,263      
Other current assets     865      
Identified intangible assets acquired     22,600      
Goodwill $ 75,845 $ 75,845 42,109     $ 33,736
Total assets acquired     68,171      
Accounts payable     (406)      
Accrued liabilities     (1,749)      
Deferred revenue     (5,665)      
Deferred income tax liabilities     (123)      
Total purchase price     60,228      
MediFind            
Business Acquisition [Line Items]            
Cash         $ 231  
Accounts receivable         149  
Other current assets         722  
Identified intangible assets acquired         2,300  
Goodwill         6,821  
Total assets acquired         10,223  
Accounts payable         (121)  
Accrued liabilities         (816)  
Deferred revenue         (292)  
Deferred income tax liabilities         (123)  
Total purchase price         $ 8,871  
Access            
Business Acquisition [Line Items]            
Cash       $ 80    
Accounts receivable       1,870    
Other current assets       110    
Identified intangible assets acquired       18,300    
Goodwill       23,426    
Total assets acquired       43,786    
Accounts payable       (196)    
Accrued liabilities       (884)    
Deferred revenue       (5,295)    
Deferred income tax liabilities       0    
Total purchase price       $ 37,411    
ConnectOnCall            
Business Acquisition [Line Items]            
Cash     23      
Accounts receivable     244      
Other current assets     33      
Identified intangible assets acquired     2,000      
Goodwill     11,862      
Total assets acquired     14,162      
Accounts payable     (89)      
Accrued liabilities     (49)      
Deferred revenue     (78)      
Deferred income tax liabilities     0      
Total purchase price     $ 13,946      
v3.25.0.1
Acquisitions - Schedule of Intangible Asset Acquired Related to MediFind Acquisition (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Oct. 03, 2023
Aug. 11, 2023
Jun. 30, 2023
Trademark        
Acquired Finite-Lived Intangible Assets [Line Items]        
Estimated Useful Life (in Years) 15 years      
MediFind        
Acquired Finite-Lived Intangible Assets [Line Items]        
Fair Value       $ 2,300
MediFind | Technology        
Acquired Finite-Lived Intangible Assets [Line Items]        
Estimated Useful Life (in Years)       7 years
Fair Value       $ 1,200
MediFind | Trademark        
Acquired Finite-Lived Intangible Assets [Line Items]        
Estimated Useful Life (in Years)       15 years
Fair Value       $ 700
MediFind | Customer relationships        
Acquired Finite-Lived Intangible Assets [Line Items]        
Estimated Useful Life (in Years)       10 years
Fair Value       $ 400
Access        
Acquired Finite-Lived Intangible Assets [Line Items]        
Fair Value     $ 18,300  
Access | Technology        
Acquired Finite-Lived Intangible Assets [Line Items]        
Estimated Useful Life (in Years)     7 years  
Fair Value     $ 5,200  
Access | Trademark        
Acquired Finite-Lived Intangible Assets [Line Items]        
Estimated Useful Life (in Years)     15 years  
Fair Value     $ 2,400  
Access | Customer relationships        
Acquired Finite-Lived Intangible Assets [Line Items]        
Estimated Useful Life (in Years)     15 years  
Fair Value     $ 10,700  
ConnectOnCall        
Acquired Finite-Lived Intangible Assets [Line Items]        
Fair Value   $ 2,000    
ConnectOnCall | Technology        
Acquired Finite-Lived Intangible Assets [Line Items]        
Estimated Useful Life (in Years)   5 years    
Fair Value   $ 1,500    
ConnectOnCall | Customer relationships        
Acquired Finite-Lived Intangible Assets [Line Items]        
Estimated Useful Life (in Years)   15 years    
Fair Value   $ 500    
v3.25.0.1
Subsequent Events (Details)
shares in Millions
Mar. 12, 2025
shares
Subsequent Event | Stock Repurchase Program  
Subsequent Event [Line Items]  
Repurchase of outstanding common stock (in shares) 2.5