Shares of Phreesia fell after the company reported lower-than-expected earnings during its fiscal second quarter.

The stock declined 7.9% to $10.94 Thursday. Shares have lost roughly a third of their value year to date.

The company late Wednesday reported a profit of $1.9 million for its three months ended July 31, compared with $654,000 a year earlier. Quarterly earnings of three cents a share missed the nine cents a share that analysts polled by FactSet had expected.

Total revenue climbed 10% to $129.5 million, roughly in line with Wall Street models.

The recent quarter included a roughly $2.8 million charge tied to Phreesia's restructuring plan, which was disclosed earlier this year and aims to reduce operating expenses and better align cost structures with current priorities. Total restructuring charges are expected to come in around $10 million, and the plan is anticipated to be substantially completed during the company's fiscal 2027, it said.

Chief Executive Chaim Indig said profit expansion and revenue growth were both in-line with expectations coming into the quarter.

"We remain enthusiastic about two products that we believe will drive future growth, AccessOne and ProviderConnect, as well as the impact that our artificial-intelligence investments are beginning to have on many aspects of our products and broader organization," he added.

For the year, Phreesia continues to expect adjusted Ebitda--or earnings before interest, taxes, depreciation and amortization--of $125 million to $135 million, as well as revenue of $510 million to $520 million.

Analysts are looking for adjusted Ebitda of $128.8 million on revenue of $515.6 million.