Phreesia, Inc.PHR

Phreesia, Inc. Earnings Per Share Disclosure

10-KFiled Mar 13, 20251 min read
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 

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

Income TaxesRevenueFair ValuePP&ELeasesSegmentsDebtCommitmentsStock CompensationNew StandardsPay vs Performance