Phreesia, Inc. Securities Class Action Lawsuit - Investors With Losses May Contact Levi & Korsinsky

Levi & Korsinsky, LLP notifies investors in Phreesia, Inc. (NYSE: PHR) that a class action has been filed on behalf of shareholders who purchased securities between May 8, 2025 and March 30, 2026. Find out if you qualify to recover losses. You may also contact Joseph E. Levi, Esq. at [e-mail] or [phone].

On March 30, 2026, PHR shares fell 27%, losing $3.03 per share, after Phreesia cut its fiscal 2027 revenue outlook to $510–$520 million from a prior range of $545–$559 million. The lead plaintiff deadline is July 13, 2026.

The Promise: December 8, 2025

When Phreesia introduced fiscal 2027 guidance on December 8, 2025, the lawsuit contends management painted an optimistic picture:

• Revenue projected at $545 million to $559 million, representing 14–16% growth over fiscal 2026
• Adjusted EBITDA outlook of $125 million to $135 million
• AccessOne acquisition expected to contribute approximately 6.5% of total fiscal 2027 revenue
• AHSC growth anticipated in the mid-single-digit percent range with revenue per AHSC growing double digits
• Management stated the Company was "in a similar situation" to the prior year regarding selling season visibility

The action claims these projections led shareholders to purchase PHR stock at prices reflecting growth that was not materializing.

The Reality: March 30, 2026

Approximately 112 days later, after introducing fiscal 2027 guidance, Phreesia lowered its fiscal 2027 revenue guidance to $510–$520 million. Management cited "worsening visibility" and "weaker pharmaceutical marketing commitments" within its Network Solutions segment and that clients were committing lower spend levels for the second half of fiscal 2027 than management had anticipated only three months earlier.

The Numbers: Promised vs. Actual

Metric	December 2025 Promise	March 2026 Reality	Gap
FY2027 Revenue (midpoint)	$552 million	$515 million	$37 million shortfall
FY2027 Revenue Growth	14–16%	~7–8%	Cut nearly in half
Network Solutions Visibility	"Similar to last year"

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