Phreesia reported a solid Q4 2025, delivering 15% year-over-year revenue growth to $109.7 million and notable gross-margin expansion to 69.4%. The quarter showcased improving operating leverage, with adjusted EBITDA of $16.4 million (15% of revenue) and positive operating cash flow of $16.3 million, reinforcing a pattern of cash generation even as the company continues to invest in growth initiatives. However, GAAP net income remained negative at $6.39 million, resulting in an EPS of -$0.11, underscoring the ongoing investment phase typical of a high-growth SaaS-enabled platform in the healthcare information services space.