Phreesia, Inc. - 1792 Exchange

Rating Overview

Phreesia, Inc. is Medium Risk.

Phreesia is Medium Risk. The company often yields to political activism in shaping corporate governance, potentially alienating consumers, dividing employees, and harming shareholders. Phreesia implements race and identity-based policies that replace merit, excellence, and integrity with preferential treatment and outcomes. The company occasionally embraces corporate initiatives that redirect its central focus from business goals to partisan policies and divisive issues at times. This approach fails to safeguard free exercise, free speech, and free enterprise.

Rating Criteria

Corporate Weaponization Risk Levels
Criteria	Risk Level
Cancellations	Lower Risk
Discriminatory Philanthropy	Medium Risk
Employment Protection	High Risk

Corporate Weaponization ⓘ

Corporate Governance and Public Policy Risk Levels
Criteria	Risk Level
Advocacy Bias	High Risk
Funding	High Risk
Political Actions	No Data

Corporate Governance and Public Policy ⓘ

Rating Criteria Detail

Criteria Risk Level Rationale

Corporate Weaponization

Criteria:

Has canceled customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.

Risk Level:

Lower

Rationale:

Phreesia has not publicly canceled customers, suppliers, or vendors based on political views or religious beliefs (1).

Criteria:

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level:

Medium

Rationale:

Phreesia likely uses Benevity as its charitable giving platform. Benevity vets charities according to the Southern Poverty Law Center’s Hate List, which includes mainstream libertarian, conservative, family, and religious advocacy organizations (1)(2)(3).

Criteria:

Employment policies fail to protect against viewpoint or other discrimination and/or are ideological in nature.

Risk Level:

High

Rationale:

Phreesia requires its employees to take DEI and eliminating bias training (1). The company appears to prioritize diversity over merit in its recruitment, hiring, promotions, leadership composition and mentorship program. From its 2024 Annual Report: “We are committed to hiring, developing and supporting a diverse and inclusive workplace. We employ strong recruiting practices that actively seek out and engage underrepresented groups” (2). From Phreesia’s Gender Equality Report: “We are committed to supporting gender equality in our organization, including through our…board representation, [and] pathways to leadership for women…” (3). From its 2025 Proxy Report: “our nominating and corporate governance committee will include in its initial list of director candidates for consideration in connection with any vacancy…one or more qualified diverse candidates, and will instruct any search firm, if used, to do the same” (4). From its 2024 ESG Scorecard: “we created a mentorship program to facilitate connections amongst executives and employees. This program prioritizes career development for employees that come from underrepresented populations like ethnic minorities, people with disabilities, women, veterans and more” (5). Phreesia does not provide viewpoint protections for its employees (6).

Corporate Governance and Public Policy

Criteria:

Uses corporate reputation to support causes, organizations, or policies hostile to freedom of expression.

Risk Level:

High

Rationale:

Phreesia supports DEI within its business practices. From its 2024 ESG Scorecard: “We ensure that strong representation is included in our recruitment marketing materials, which is part of our strategy to acquire and retain a diverse workforce” (1). The company supports ESG within its business practices. From 2024 Proxy Report: “We are committed to making a positive impact and continuing to assess and enhance our ESG strategy to meet the needs of our stakeholders” (2).

Criteria:

Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.

Risk Level:

High

Rationale:

Phreesia provides a benefits package for employees that covers transgender medical procedures for covered employees and dependents, including children (1). The company is a partner of OutCare Health, a nonprofit dedicated to advancing controversial LGBTQ health initiatives, with a particular focus on “transgender, gender diverse, and intersex (TGI) communities”. OutCare’s initiatives include the OutList directory of LGBTQ “affirming” healthcare providers, mentorship, health equity training, peer support, consulting services, and community building programs, all aimed at increasing the accessibility of “affirming” healthcare resources and services (2)(3). Phreesia’s LGBTQ+ ERG hosted a “Q4 is a Drag” drag show, which likely used corporate funds (4). The company funded the Equal Justice Initiative (5). Otherwise, there are no publicly known cases of Phreesia using corporate funds to advance ideological causes, organizations, or policies (6).

Criteria:

Uses corporate political actions and/or financial contributions for ideological, non-business purposes.

Risk Level:

N/A

Rationale:

Phreesia does not operate a PAC or report on its lobbying at this time (1)(2)(3).