Phreesia, Inc.

Good morning, ladies and gentlemen, and welcome to the Freesia Fiscal Third Quarter 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. Instructions will follow at that time. I would now like to introduce Balaji Gandhi, Vice President, Investor Relations for Freesia. Mr. Gandhi, you may begin.

Thank you, Operator. Good morning, and welcome to Freesia's Earnings Conference Call for our Third Quarter of Fiscal 2020. which ended on October 31st, 2019. As a reminder, Frisia's fiscal year end is January 31st. Participating on today's call from Frisia are Chief Executive Officer and Co-Founder Chaim Indig and Chief Financial Officer Tom Altier. Following prepared remarks from Chaim and Tom, we will conduct a Q&A session. A complete disclosure of our results can be found in our earnings press release issued yesterday evening as well as in our related Form 8K submission to the SEC, both of which are available on the investor relations section of our website at ir.freesia.com. As a reminder, today's call is being recorded and a replay will be available following the conclusion of the call. During today's call, we will make forward-looking statements pursuant to the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act, including statements relating to the expected performance of our business, future financial results, including guidance for the full fiscal year 2020, our strategy, our partnerships and expected launches of products and services, long-term growth and overall future prospects. These statements are subject to known and unknown risks and uncertainties that could cause Actual results to differ materially from those projected or implied during this call. In particular, those described in our risk factors included in our final prospectus for our initial public offering filed with the SEC on July 19, 2019 and the risk factors included in our Form 10Q filed with the SEC this morning. You should not rely on forward-looking statements as predictions of Future Events. All formal booking statements that we make on this call are based on assumptions and beliefs as of today and we undertake no obligation to update them as required by applicable law. We will also refer to certain financial measures not in accordance with generally accepted accounting principles in order to provide additional information to investors. These non-GAAP measures should be considered in addition to and not as a substitute for or in isolation from our GAAP results. A reconciliation of GAAP to non-GAAP results may be found in our earnings release and supplemental materials, which were furnished with our Form 8K filed after the market closed on December 9th with the SEC. It may also be found on our investor relations website at ir.freesia.com. I will now turn the call over to CEO Chaim Indig.

Thank you, Balaji. Good morning, everyone. I would like to start by thanking my teammates, our clients, partners, and investors for their continued support of Freesia's mission to create a better, more engaging healthcare experience. On today's call, I will cover the highlights from our fiscal third quarter 2020, provide an update to our fiscal 2020 guidance, and provide some commentary on the expansion of our team. We are pleased with the fiscal third quarter results. Total revenue for the quarter was $32.8 million, up 33% year over year. The average number of provider clients was 1,573, up 5% year over year. Average revenue per client in the quarter was $16,637, up 25% year over year. Patient payment volume was $463 million in the quarter, up 29% year over year. Adjusted EBITDA was $3 million, up $2.6 million year over year. Tom will dive deeper into these metrics in a few minutes. We are updating our outlook for fiscal year 2020, ending on January 31, 2020. We now expect total revenue to be in the range of $122 million We continue to expect fiscal 2020 adjusted EBITDA to be positive. As we indicated last quarter, we will incur higher costs related to being a public company and continue to invest to allow for continued growth. We believe One of our strengths is our team's ability to stay focused on maintaining, implementing, and selling products for their clients' value. I would like to specifically acknowledge Frisia's implementation and client solutions teams for their continued effort. They've been very busy, and we appreciate their efforts. We continue to expand the breadth and depth of Frisia's leadership team during the third quarter. On November 1st, Randy Rasmussen joined us as our Chief Accounting Officer. Randy brings valuable public company experience to Freesia and deepens our talented finance organization. His knowledge and experience will help us in many ways, including our process to comply with Sarbanes-Oxley. Randy's hire is an example of the additional investments we are making as a public company. We appreciate the interest and support from the entire investment community including those of you who have introduced us to potential provider clients. Please continue to send any referrals along, and Balaji can make sure our team qualifies and on-boards them to the Freesia platform. Now I will turn the call over to Tom for review of the financials.