Healthequity Inc Stock Price, News & Analysis

HealthEquity reported a Q1 revenue of $184.2 million, down 3% from $190.0 million in Q1 FY21. The company experienced a net loss of $2.6 million, contrasting with net income of $1.8 million last year. Non-GAAP net income stood at $31.0 million, slightly up from $30.8 million. Adjusted EBITDA decreased by 6% to $59.0 million. On a positive note, total HSA assets surged 31% to $15.0 billion, with active HSAs rising 9% year-over-year to 5.8 million. The company aims for revenues between $755 million and $765 million for FY22.

HealthEquity, Inc. (NASDAQ: HQY) has announced that it will release its first quarter fiscal 2022 financial results after market close on June 7, 2021. Following the release, management will host a conference call at 4:30 p.m. ET to discuss the results. The Company is also set to participate in two investor conferences: the R.W. Baird Virtual Global Consumer, Technology & Services Conference on June 8, and the Goldman Sachs 42nd Annual Global Healthcare Conference on June 9, both featuring presentations by CEO Jon Kessler and CFO Tyson Murdock.

HealthEquity, the nation's largest independent health savings account (HSA) custodian, has released its inaugural corporate social responsibility (CSR) report, titled “Sustainably Purple.” The report highlights the company's commitment to socially beneficial HSAs and consumer-directed health benefits, emphasizing its goals in workplace social responsibility, governance, and environmental sustainability. CEO Jon Kessler noted the report aims to measure the impact of its CSR initiatives for families and employers navigating healthcare choices.

HealthEquity (NASDAQ: HQY) announced a definitive agreement to acquire Fifth Third Bank's health savings account (HSA) portfolio for $60.8 million, involving around 149,000 HSA members and approximately $477 million in assets. The transition is aimed at enhancing service quality for Fifth Third’s HSA members under HealthEquity’s platform and is contingent upon regulatory approval. CEO Jon Kessler emphasized the company’s commitment to customer care and benefits integration.

HealthEquity has announced a definitive agreement to acquire Further for $500 million. This acquisition will enhance HealthEquity's position as the largest independent health savings account (HSA) custodian with approximately 6.3 million HSA members and more than $16 billion in HSA assets. The acquisition is expected to generate $60 million in annual revenue with a 20% contribution to adjusted EBITDA. Additionally, it provides access to Further's 28,000 employer clients and VEBA administration capabilities. The deal is expected to close by September 2021, pending regulatory approvals.

HealthEquity, Inc. (NASDAQ: HQY) reported robust financial results for fiscal year 2021, achieving $733.6 million in revenue, a 38% increase from $532 million in FY20. However, net income dropped to $8.8 million from $39.7 million year-over-year. The company's non-GAAP net income was $126.3 million, slightly up from $114.8 million. Q4 revenue declined 6% to $188.2 million, but net income rose to $5.4 million from a loss in Q4 FY20. For FY2022, HealthEquity anticipates revenue between $750 million and $760 million, with a projected net loss of up to $10 million.

HealthEquity (NASDAQ: HQY) has acquired Luum, a technology platform focused on employee commute management, enhancing its offerings for hybrid workplaces. This strategic acquisition is aimed at providing employers with tools for flexible commuting solutions and sustainable practices, crucial as businesses adapt post-pandemic. Key benefits include safe commute options, policy flexibility, an employee commute portal, and improved corporate sustainability. The acquisition is expected to optimize workforce equity and aid in reducing carbon footprints associated with commuting.

HealthEquity, Inc. (NASDAQ: HQY) announced the closing of an additional public offering of 750,000 common shares, resulting in gross proceeds of $60,225,000. These funds, along with $401.5 million from a previous February offering, will be used for acquisitions, debt repayment, and general corporate purposes. The offering was managed by BofA Securities. The shares were offered under an effective shelf registration statement filed with the SEC.

HealthEquity, Inc. (NASDAQ: HQY) will release its fiscal year-end 2021 financial results on March 15, 2021, after market close. Following the announcement, management will conduct a conference call at 4:30 p.m. ET to discuss key highlights from the fourth quarter and annual results. HealthEquity administers over 12 million Health Savings Accounts (HSAs) and is positioned as the largest independent HSA custodian, serving a broad range of partners in the healthcare industry.