AccessOne deal set to lift Phreesia’s payment revenue

Phreesia Inc. (NYSE: PHR), the US-based patient intake and engagement software provider, has completed the acquisition of AccessOne, a healthcare payments and receivables financing platform, expanding its push into patient payment solutions.

According to Visible Alpha consensus, AccessOne is expected to contribute about $8 million in revenue in fiscal 2026, reflecting its late completion in Phreesia’s third quarter. Contribution is forecast to rise sharply to $36 million in fiscal 2027, the first full year of integration, and to $40 million by 2028, when AccessOne is expected to account for roughly 24% of Phreesia’s payment processing revenue.

Phreesia also reported Q3 fiscal 2026 revenue of $120 million, up 13% year-on-year, driven in part by steady client expansion. The average number of healthcare services clients, a key operating metric that highlights recurring subscription and transaction volumes, rose 7% to 4,520. The company also posted a net profit of $4.3 million, compared with a loss of $14.4 million a year earlier.

The company’s stock, however, fell 19% post earnings, as management’s full-year outlook came in below market expectations.

Consensus forecasts nonetheless point to continued momentum. Analysts expect full-year 2026 revenue to rise 14% year-on-year to $480 million, alongside a swing to a modest net profit of $3 million, from a $59 million loss last year. Growth is projected to remain in the double digits across Phreesia’s subscription, payment processing and network solutions segments, supported by an expanding client base, with average healthcare services clients estimated at 4,512 for the year, up from 4,203 in fiscal 2025.

 This article was published by Visible Alpha, part of S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.