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Side-by-side financial comparison of Phreesia, Inc. (PHR) and Target Hospitality Corp. (TH). Click either name above to swap in a different company.
Phreesia, Inc. is the larger business by last-quarter revenue ($120.3M vs $73.5M, roughly 1.6× Target Hospitality Corp.). Phreesia, Inc. runs the higher net margin — 3.5% vs -20.3%, a 23.9% gap on every dollar of revenue. On growth, Target Hospitality Corp. posted the faster year-over-year revenue change (22.0% vs 12.7%).
Phreesia, Inc. is a software as a service company that offers healthcare organizations a set of applications to automate and manage patient intake.
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
PHR vs TH — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $120.3M | $73.5M |
| Net Profit | $4.3M | $-14.9M |
| Gross Margin | — | 9.6% |
| Operating Margin | 3.1% | -22.9% |
| Net Margin | 3.5% | -20.3% |
| Revenue YoY | 12.7% | 22.0% |
| Net Profit YoY | 129.7% | -219.1% |
| EPS (diluted) | $0.07 | $-0.14 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $120.3M | $73.5M | ||
| Q3 25 | $117.3M | $91.6M | ||
| Q2 25 | $115.9M | $54.9M | ||
| Q1 25 | — | $54.9M | ||
| Q4 24 | — | $60.2M | ||
| Q3 24 | — | $65.8M | ||
| Q2 24 | — | $67.5M | ||
| Q1 24 | — | $72.4M |
| Q4 25 | $4.3M | $-14.9M | ||
| Q3 25 | $654.0K | $-795.0K | ||
| Q2 25 | $-3.9M | $-14.9M | ||
| Q1 25 | — | $-6.5M | ||
| Q4 24 | — | $12.5M | ||
| Q3 24 | — | $20.0M | ||
| Q2 24 | — | $18.4M | ||
| Q1 24 | — | $20.4M |
| Q4 25 | — | 9.6% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | -0.6% | ||
| Q1 25 | — | 32.7% | ||
| Q4 24 | — | 61.5% | ||
| Q3 24 | — | 68.7% | ||
| Q2 24 | — | 69.4% | ||
| Q1 24 | — | 67.8% |
| Q4 25 | 3.1% | -22.9% | ||
| Q3 25 | -1.3% | 0.1% | ||
| Q2 25 | -2.8% | -30.8% | ||
| Q1 25 | — | -2.0% | ||
| Q4 24 | — | 34.5% | ||
| Q3 24 | — | 42.5% | ||
| Q2 24 | — | 43.8% | ||
| Q1 24 | — | 42.0% |
| Q4 25 | 3.5% | -20.3% | ||
| Q3 25 | 0.6% | -0.9% | ||
| Q2 25 | -3.4% | -27.2% | ||
| Q1 25 | — | -11.8% | ||
| Q4 24 | — | 20.8% | ||
| Q3 24 | — | 30.4% | ||
| Q2 24 | — | 27.2% | ||
| Q1 24 | — | 28.2% |
| Q4 25 | $0.07 | $-0.14 | ||
| Q3 25 | $0.01 | $-0.01 | ||
| Q2 25 | $-0.07 | $-0.15 | ||
| Q1 25 | — | $-0.07 | ||
| Q4 24 | — | $0.12 | ||
| Q3 24 | — | $0.20 | ||
| Q2 24 | — | $0.18 | ||
| Q1 24 | — | $0.20 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $106.4M | $8.3M |
| Total DebtLower is stronger | $3.4M | $1.7M |
| Stockholders' EquityBook value | $320.3M | $389.3M |
| Total Assets | $423.5M | $530.2M |
| Debt / EquityLower = less leverage | 0.01× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $106.4M | $8.3M | ||
| Q3 25 | $98.3M | $30.4M | ||
| Q2 25 | $90.9M | $19.2M | ||
| Q1 25 | — | $34.5M | ||
| Q4 24 | — | $190.7M | ||
| Q3 24 | — | $177.7M | ||
| Q2 24 | — | $154.3M | ||
| Q1 24 | — | $124.3M |
| Q4 25 | $3.4M | $1.7M | ||
| Q3 25 | $4.6M | $2.0M | ||
| Q2 25 | $6.2M | $26.3M | ||
| Q1 25 | — | $42.9M | ||
| Q4 24 | — | $1.5M | ||
| Q3 24 | — | $994.0K | ||
| Q2 24 | — | $1.1M | ||
| Q1 24 | — | $179.9M |
| Q4 25 | $320.3M | $389.3M | ||
| Q3 25 | $298.0M | $402.4M | ||
| Q2 25 | $282.2M | $401.3M | ||
| Q1 25 | — | $415.3M | ||
| Q4 24 | — | $421.1M | ||
| Q3 24 | — | $417.6M | ||
| Q2 24 | — | $397.2M | ||
| Q1 24 | — | $375.5M |
| Q4 25 | $423.5M | $530.2M | ||
| Q3 25 | $408.6M | $541.2M | ||
| Q2 25 | $400.4M | $533.7M | ||
| Q1 25 | — | $562.5M | ||
| Q4 24 | — | $725.8M | ||
| Q3 24 | — | $709.8M | ||
| Q2 24 | — | $697.0M | ||
| Q1 24 | — | $687.2M |
| Q4 25 | 0.01× | 0.00× | ||
| Q3 25 | 0.02× | 0.01× | ||
| Q2 25 | 0.02× | 0.07× | ||
| Q1 25 | — | 0.10× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.48× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $15.5M | $5.7M |
| Free Cash FlowOCF − Capex | $12.2M | — |
| FCF MarginFCF / Revenue | 10.1% | — |
| Capex IntensityCapex / Revenue | 2.7% | — |
| Cash ConversionOCF / Net Profit | 3.62× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.5M | $5.7M | ||
| Q3 25 | $14.8M | $53.4M | ||
| Q2 25 | $14.8M | $11.1M | ||
| Q1 25 | — | $3.9M | ||
| Q4 24 | — | $30.6M | ||
| Q3 24 | — | $31.4M | ||
| Q2 24 | — | $39.1M | ||
| Q1 24 | — | $50.6M |
| Q4 25 | $12.2M | — | ||
| Q3 25 | $13.1M | — | ||
| Q2 25 | $11.3M | — | ||
| Q1 25 | — | $-11.6M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 10.1% | — | ||
| Q3 25 | 11.1% | — | ||
| Q2 25 | 9.8% | — | ||
| Q1 25 | — | -21.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 2.7% | — | ||
| Q3 25 | 1.5% | — | ||
| Q2 25 | 3.0% | — | ||
| Q1 25 | — | 28.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 3.62× | — | ||
| Q3 25 | 22.68× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 1.57× | ||
| Q2 24 | — | 2.13× | ||
| Q1 24 | — | 2.48× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PHR
| Subscription And Services | $55.5M | 46% |
| Network Solutions | $37.4M | 31% |
| Payment Processing Fees | $27.4M | 23% |
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
