Phreesia Posts First Net Income Gain, Acquires AccessOne for $160 Million

Phreesia reported Q2 FY2026 results with revenue up 15% YoY to $117.3mln, adjusted EBITDA reaching $22mln with a 19% margin, and free cash flow increasing by $6mln YoY. The company achieved its first-ever net income positive quarter and acquired AccessOne for $160mln, expanding its payment solutions TAM by $6bln. The acquisition is expected to close by early Q4 FY2026 and add $35mln in annualized revenue and $11mln in annualized adjusted EBITDA.