The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Anne Elizabeth Samuel - JP Morgan Chase & Co, Research Division - Analyst
: You spoke on the last call about virtual waiting rooms and other ways to help your patients feel safe returning. So what kind of demand are you
seeing for those products? And is that still within your existing customer base? Are you starting to see maybe demand from new customers for
that?
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JUNE 09, 2020 / 12:30PM, PHR.N - Q1 2021 Phreesia Inc Earnings Call
Question: Anne Elizabeth Samuel - JP Morgan Chase & Co, Research Division - Analyst
: That's great. I went to the doctor this week, and waited an hour in the waiting room and wished that they had, had the Phreesia virtual waiting
room so I could have sat in my car.
My next question is around the subscription base. You were still able to achieve mid-single-digit growth in provider clients. So is it fair to assume
that the sales process saw little impact? Or was there some maybe February outperformance that drove that?
Question: Glen Joseph Santangelo - Guggenheim Securities, LLC, Research Division - Analyst
: Chaim, just let me ask you quickly about the balance sheet. A few minutes ago, you talked about that the company wants to continue to invest in
innovation. And I'm kind of curious if any of the dramatic changes in the market are making you rethink some of the strategic priorities or uses for
the cash on your balance sheet, maybe with respect to M&A or any new strategic growth opportunities.
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affiliated companies.
JUNE 09, 2020 / 12:30PM, PHR.N - Q1 2021 Phreesia Inc Earnings Call
Question: Glen Joseph Santangelo - Guggenheim Securities, LLC, Research Division - Analyst
: Okay. Maybe if I can just ask one quick follow-up question on the 5% client growth. It kind of sounds like -- asking the question in a different way.
It kind of sounds like that the result this quarter was really due to strong execution from 4Q and maybe some good implementation in terms of
this quarter. But as we think about the environment having changed pretty dramatically in mid-March, and you commented that it's impacting
the selling process going forward, is it fair to say that we should maybe expect a little bit of an air pocket in terms of client growth as we look out
to fiscal 2Q, just given the environment that we find ourselves in right now?
Question: Sean Wilfred Dodge - RBC Capital Markets, Research Division - Analyst
: Maybe Chaim or Tom, taking a little bit of a longer-term view of Jamie's question. You mentioned restarting hiring. I guess with visit volumes
tracking back up again and looking like maybe on a path back to normal, is this a large-scale restart? Or how are you thinking about balancing the
reramping of spending and investing against what could be still a somewhat depressed revenue environment for the next couple of quarters?
Question: Sean Wilfred Dodge - RBC Capital Markets, Research Division - Analyst
: Okay. That's helpful. And then maybe a quick one on the telehealth offering. Is there any updates you can give us on things like what proportion
of your provider clients are using this solution or maybe what proportion of the payments you processed during the quarter were derived from
telehealth visits?
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