Phreesia Projected $545–$559 Million in Fiscal 2027 Revenue; Months Later, the Company Slashed That Figure by Up to $39 Million, Costing Investors $3.03 Per Share

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 jlevi@levikorsinsky.com or (212) 363-7500.

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

Speak with an attorney about recovering your investment losses or call (212) 363-7500.

What the Lawsuit Alleges About the Gap

The filing states that when management introduced fiscal 2027 guidance in December 2025, conditions within the Network Solutions segment were already deteriorating. Pharmaceutical manufacturers were not committing at previously anticipated levels, and the visibility that management publicly compared to prior years was, as alleged, materially worse. The complaint charges that the $37 million midpoint guidance reduction was not the result of sudden external change but rather the disclosure of trends that were underway when the original projections were issued.

"Companies that make specific promises to investors about future performance have an obligation to disclose known risks to those projections. The gap between Phreesia's December guidance and its March revision raises important questions about what was known and when." -- Joseph E. Levi, Esq.

Join the Phreesia recovery action or contact Joseph E. Levi, Esq. at (212) 363-7500.

ABOUT LEVI & KORSINSKY, LLP -- Over the past 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders. The firm has extensive expertise in complex securities litigation and a team of over 70 employees. For seven consecutive years, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report. The last day to move for lead plaintiff is July 13, 2026.

Frequently Asked Questions About the PHR Lawsuit

Q: What specific misstatements does the PHR lawsuit allege? A: The complaint alleges Phreesia made materially false or misleading statements regarding its fiscal 2027 revenue growth projections and the durability of pharmaceutical marketing commitments in its Network Solutions segment. When the true state was revealed on March 30, 2026, the stock price declined 27%.

Q: How much did PHR stock drop? A: Shares fell approximately 27%, a decline of $3.03 per share, after Phreesia disclosed significantly reduced fiscal 2027 revenue guidance and attributed the shortfall to worsening visibility in pharmaceutical marketing commitments.

Q: What do PHR investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at jlevi@levikorsinsky.com or (212) 363-7500. No immediate action is required to remain eligible as a class member.

Q: What if I already sold my PHR shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.

Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. You submit a claim form to receive your portion of recovery.

Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.

Q: Can I join a different law firm's lawsuit instead? A: Multiple firms often file competing complaints. The court consolidates and appoints a single lead counsel. Contacting Levi & Korsinsky before July 13, 2026 ensures your losses are considered.

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