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 - JPMorgan Chase & Co, Research Division - Analyst
: Congratulations on the solid results. I'm just hoping maybe you could talk a little bit about balancing operating expenses to growth. So your
operating expenses were up pretty significantly in the quarter. I was just hoping you could help us understand what that means for your future
growth expectations, just given the second half guidance is a little bit closer to your 20% long-term target.
Question: Anne Elizabeth Samuel - JPMorgan Chase & Co, Research Division - Analyst
: Sure. So I was just hoping that you could help us understand what the expenses in the quarter means for your future growth expectations, just
given the implied back half guidance just looks a little bit closer to your 20% longer-term target.
Question: Anne Elizabeth Samuel - JPMorgan Chase & Co, Research Division - Analyst
: That's really helpful. And then maybe I was hoping you could provide some color around what return to work looks like for you and your client
base? And if vaccinations or the Delta variant are playing any part in that.
Question: Anne Elizabeth Samuel - JPMorgan Chase & Co, Research Division - Analyst
: That's really helpful. Congrats on the quarter.
Question: Zhilin Long - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: So my first one is on hiring. And so given that you have hired a bunch of people recently, should we expect more hiring in the second half? And
that -- usually, how long does it take to fully train them? Considering the sales cycle that typically lasts for a couple of months, is it fair to say that
we should wait for at least a couple of quarters before we see some impact on the revenue line?
Question: Zhilin Long - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Okay. Got it. And then just a follow-up to that in terms of your investment philosophy. At this current investment level, are you still aiming at a 20%
long-term growth? Or could it be higher? And then maybe at what point should we kind of expect the investment to level off a bit?
Question: Thomas Kelliher - RBC Capital Markets - Analyst
: This is Thomas Kelliher on for Sean. So maybe going back to product adoption, you all talked about some of the newer clients opting for more
products upfront than maybe a couple of years ago. So broadly speaking, if you think about penetration from a product or even a total revenue
standpoint, where is the existing client base relative to full penetration? So based on existing products, is there a lot of upsell opportunity remaining?
Question: Thomas Kelliher - RBC Capital Markets - Analyst
: Perfect. And then on the Life Sciences, can you give us a sense of the cost structure and margins on that side? And maybe how we should think
about that segment evolving as a mix of total revenue over time?
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SEPTEMBER 02, 2021 / 12:30PM, PHR.N - Q2 2022 Phreesia Inc Earnings Call
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