Phreesia, Inc.

Good evening, ladies and gentlemen, and welcome to the Freesia fourth quarter fiscal 2026 earnings conference call. At this time, all participants are in a listen-only mode. We will provide instructions for the question and answer session to follow. First, I would like to introduce Balaji Gandhi, Freesia's chief financier. Mr. Gandhi, you may begin.

Thank you, operator. Good evening and welcome to Freesia's earnings conference call for the fourth quarter of fiscal 2026, which ended on January 31st of 2026. Joining me on today's call is Haim Indig, our Chief Executive Officer. A more complete discussion of our results can be found in our earnings press release and in our related Form 8 submission to the SEC, including our quarterly stakeholder letter, both issued after the markets closed today. These documents are available on the investor relations website at ir.freesia.com. As a reminder, today's call is being recorded and a replay will be available on our investor relations website at ir.freesia.com following the conclusion of the call. During today's call, we may make forward-looking statements, including statements regarding trends, our anticipated growth, our strategies, predictions about our industry, and the anticipated performance of our business, including our outlook regarding future financial results. Forward-looking statements are subject to various risks, uncertainties, and other factors that may cause our actual results, performance, or achievements to differ materially from those described in our forward-looking statements. Such risks are described more fully in our earnings press release, our stakeholder letter, and our risk factors included in our SEC filings, including in our annual report on Form 10-K that will be filed with the SEC tomorrow. The forward-looking statements made on this call will be based on our current views and expectations and speak only as of the date on which the statements are made. We undertake no obligation to update and expressly disclaim the obligation to update these forward-looking statements to reflect events or circumstances after the date of this call or to reflect new information or the occurrence of unanticipated events. We may also refer to certain financial measures not in accordance with generally accepted accounting principles, such as adjusted EBITDA and free cash flows. 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 stakeholder letter, which were furnished with our Form 8K filed after the markets closed today 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 our CEO, Jaime Indig.

Thank you for joining our fourth quarter and fiscal year 2026 earnings call. Fiscal year 2026 was a pivotal year in Freesia's evolution, one defined by deliberate choices and disciplined execution. The decisions we made this year are the ones we made on our own terms, and we believe they will compound in our favor over the next several years and beyond. I want to start by recognizing the Freesia team, key product launches, client success stories, our largest acquisition, and our achievement of key financial milestones are among the accomplishments the team contributed throughout the year. I want to thank everyone on the team for their dedication to Preach's mission, vision, and values. This year, we crossed several critical financial milestones ahead of our internal targets. We surpassed $100 million in adjusted EBITDA, we crossed $50 million in free cash flow, And for the first time in our history as a publicly traded company, we delivered positive gap net income for a full fiscal year. Each of these is a meaningful milestone on its own. Together, they reflect a company that has made calculated bets, executed against them, and is now scaling from a position of genuine financial strength. I want to take a moment to reflect on two growth initiatives we discussed on our last call, provider financing and HCP marketing. because both made meaningful progress this year. On provider financing, the acquisition of Access One has been central to our strategy. We have now been operating the business for several months, and our investment thesis has only been reinforced. Patient financial responsibility continues to rise in this country. Providers need tools to convert patient receivables into predictable cash flow. Access One gives us a market-leading solution to address that need at scale. Access One is performing in line with our expectations, and we are actively working to expand our access to capital for securitization programs so we can bring Access One solutions to a greater portion of our provider network. We are excited about the long runway ahead. On HCP marketing, in early March, we announced the launch of Provider Connect. a first-of-its-kind offering for healthcare provider marketers. This is a natural extension of what we have built with Patient Connect, one of the most trusted and effective point-of-care media offerings in the industry. Provider Connect brings the same proven playbook, real care encounters, patient-level relevance, and privacy at the center to the provider side of the equation. We believe our ability to align both sides of the care conversation is something no one else in the market can do as comprehensively as Frisia. And we are excited to build on this foundation in fiscal 2027. We entered fiscal 2027 having built the financial profile we intended to build. One that gives us the flexibility to pursue opportunities on offense and the resilience to absorb challenges without altering our course. Access one, and ETP are two of the opportunities we've discussed, and we look forward to sharing more of them, as well as other opportunities for growth and market extension. I also want to put our results in context. We are growing in a tough market. The healthcare industry is facing adversity. We are seeing challenges in FDA guidelines, insurance coverage, patient utilization, and provider reimbursement. We believe our emphasis on building products that address access, affordability, and outcomes with revenue generation tilted towards financial services and consent-driven patient engagement position us to be an enduring platform. Techniques of the life sciences industry are facing challenges, and we are seeing this reflected in our shorter visibility into spending commitments from certain pharmaceutical manufacturers in our network solutions business. This is an external dynamic, not a reflection of Frigia's competitive position or the underlying demand for what we offer. While we do not believe this reflects a structural shift in demand for what Freesia offers, it is creating more variability in our financial forecast, and we are reflecting that in our updated fiscal 2027 outlook that Balaji will walk through. AI is also playing an increasingly important role in how we operate. We are using AI not just in the products we deliver to clients, but internally to automate manual processes, reduce our reliance on outsourced resources, and drive greater efficiency across the business. This is a meaningful contributor to our margin expansion and one we expect to continue to benefit from as we scale. We believe we are building the right company for this moment. one position to grow on its own terms as intelligence becomes embedded in how healthcare operates. Before handing it over to Balaji, I want to stress that our company is stronger than ever because of the decisions we've made, sometimes difficult ones. Our financial profile is strong, and we have a great team of leaders and a significant bench strength behind them. We entered this fiscal year with several key priorities, positioning AccessOne for growth, scaling our HDP marketing offering and continuing to infuse AI into the Freesia operating model. We believe these initiatives, combined with the discipline that has defined our recent performance, put us in a very strong position to take advantage of the multiple growth opportunities that lie ahead. A more modest revenue growth year does not change our trajectory. It reflects a specific external dynamic in one part of our business. We believe the underlying platform is stronger than it has ever been. I'll now turn it over to Balaji to walk through the Q4 results in our fiscal 2027 outlook.