Will the company provide forward guidance for Q3 2026 and the full fiscal year, and what does that imply for valuation multiples?

Short answer:

The press release you cited only announces the date on which Phreesia (ticker PHR) will publish its fiscal Q2‑2026 results; it does not state whether the company will include forward‑looking guidance for Q3‑2026 or for the full fiscal year. Consequently, we cannot confirm from this announcement alone that guidance will be provided.

What the absence of explicit language means

Why forward guidance matters for multiples

1. Setting the “forward” denominator –

   • P/E ratio uses forward earnings (e.g., FY‑2026 EPS). Guidance raises or lowers the expected earnings, directly moving the P/E up or down.
     
   • EV/EBITDA and EV/Revenue similarly rely on forward‑projected EBITDA or sales. Guidance that projects higher sales or margin expansion compresses these multiples (the company appears cheaper). Conversely, lower guidance expands them (the company appears more expensive).

2. Market reaction –

   • If Phreesia provides optimistic guidance (e.g., double‑digit revenue growth, margin improvement), investors may price in a higher earnings trajectory, resulting in multiple contraction (higher valuation).
     
   • If guidance is cautious or misses consensus, the stock may trade at a higher multiple relative to projected earnings (reflecting perceived risk) or even see a sell‑off that widens multiples.

3. Comparative benchmarking –

   • Analysts compare Phreesia’s forward multiples against peers in the health‑tech/patient intake space (e.g., Athenahealth, NextGen, Cerner). The quality and credibility of guidance affect whether the market views Phreesia as a growth leader (lower forward multiples) or as a riskier, slower‑growing player (higher forward multiples).

Potential scenarios once the Q2‑2026 results are released

How to monitor for the guidance and its effect

1. Watch the actual earnings release (Sept 4, 2025) – the press release, accompanying investor deck, and the earnings‑call transcript will state whether Phreesia offers Q3‑2026 and FY‑2026 guidance.
   
2. Check analyst commentary – sell‑side analysts often publish their own earnings‑preview and post‑release notes that summarize the guidance and immediately recalculate valuation multiples.
   
3. Observe short‑term price action and implied multiples – after the release, compare the stock price to the revised forward P/E or EV/EBITDA calculated using the newly disclosed guidance.
   
4. Review consensus estimates – platforms such as FactSet, Bloomberg, or Refinitiv will update their consensus forecasts; any significant deviation from prior estimates signals the market’s view of the guidance impact.

Bottom line

• From the information you provided: there is no confirmation that Phreesia will deliver forward guidance for Q3‑2026 or the full fiscal year when it publishes its Q2‑2026 results.
  
• If guidance is provided, it will become the key input for forward‑looking valuation multiples; optimistic guidance will compress multiples (raising the implied valuation), whereas weak guidance will expand them (lowering the implied valuation).
  
• Until the earnings release on September 4, 2025, investors and analysts must rely on existing consensus forecasts and historical performance to gauge current multiples.
  

When the results are released, revisit the guidance statements and immediately re‑run the multiple calculations (P/E, EV/EBITDA, EV/Revenue) to see the concrete impact on Phreesia’s valuation.