HealthEquity, Inc. (HQY) administers health savings accounts and complementary consumer-directed benefits for employers, benefits advisors, health plans, retirement plan providers, and healthcare consumers. Company updates commonly cover HSA account growth, HSA assets, service, custodial and interchange revenue, guidance, margin measures, stock repurchases, and actions to manage HSA cash repricing exposure.
News also includes board and executive governance changes, investor conference participation, research on healthcare affordability and HSA adoption, and product or platform themes tied to helping members save, spend and invest for healthcare.
HealthEquity, Inc. (NASDAQ: HQY) reported Q2 FY22 revenues of $189.1 million, up 7% from $176.0 million in Q2 FY21. The company experienced a net loss of $3.8 million, compared to a $0.1 million loss last year, with non-GAAP net income at $33.4 million. Adjusted EBITDA rose 9% to $65.5 million. The total Health Savings Accounts (HSAs) reached 6.0 million, a 11% increase, and total HSA assets grew 27% to $15.5 billion. HealthEquity expects fiscal year revenues of $755-$765 million and net losses of $17-$13 million.
HealthEquity, the largest independent HSA custodian, will release its fiscal Q2 2022 financial results on September 8, 2021, after market close. A conference call to discuss these results will follow at 4:30 PM ET. Additionally, HealthEquity will participate in notable investor conferences, including the Wells Fargo Global Healthcare Conference on September 9, 2021, and the R.W. Baird Global Healthcare Conference on September 14, 2021, with presentations by its CEO and CFO.
HealthEquity, Inc. (NASDAQ: HQY) announced that CEO Jon Kessler received the Glassdoor Employees’ Choice Award for Top CEOs in 2021, achieving a notable approval rating of 94%. This award is based on anonymous feedback from employees, highlighting Kessler's leadership and the company's commitment to a culture of service. HealthEquity serves over 12 million accounts, focusing on connecting health and wealth through health savings accounts. The award underscores the effectiveness of its management during challenging times, including the COVID-19 pandemic.
HealthEquity, Inc. (NASDAQ: HQY) has updated its business outlook, reducing the expected net loss for the fiscal year ending January 31, 2022. The projected net loss has been revised from between $19 million and $15 million to between $12 million and $8 million, translating to a net loss per diluted share of $0.14 to $0.10. This update excludes approximately $10 million in merger integration expenses from its prior forecast. Revenue expectations remain unchanged at $755 million to $765 million, with projected non-GAAP net income of $122 million to $126 million and Adjusted EBITDA between $241 million and $247 million.
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.