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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) announced a public offering of 5 million shares at a pricing that could yield gross proceeds of $401.5 million, expected to close on February 19, 2021. BofA Securities is the sole book-running manager for the offering, which is aimed at acquisitions, debt repayment, and general corporate purposes. Additionally, BofA has a 30-day option for another 750,000 shares. The offering is part of an effective shelf registration filed with the SEC.
HealthEquity (NASDAQ: HQY) announced a $400 million common stock offering arranged by BofA Securities, intended for potential acquisitions, debt repayment, and general corporate purposes. Sales may occur through various methods including negotiated transactions and market prices. The offering is based on an effective shelf registration statement filed in September 2018. While it aims to strengthen the company's financial position, it may also lead to share dilution for existing shareholders.
HealthEquity, Inc. reported impressive growth for the fiscal year ended January 31, 2021, with HSA assets reaching $14.3 billion, a 24% increase year-over-year. The total number of HSAs grew by 8% to 5.8 million. The company closed the fiscal year with 12.8 million Total Accounts, maintaining previous levels. HealthEquity provided revenue guidance of $740 million to $750 million for fiscal year 2022. However, net income for 2021 is forecasted between $5 million and $8 million.
HealthEquity plans to disclose its fiscal year-end sales results on February 8, 2021, after market close. Following this, management will conduct a conference call at 4:30 p.m. ET to discuss the year-end sales data.
Additionally, HealthEquity's management will participate in several virtual investor conferences throughout February and March 2021, aiming to engage with investors and expand its market presence.
HealthEquity (NASDAQ: HQY) announced it will disclose final sales results for fiscal year 2021 on February 8, 2021. The company estimates a rise in HSA members to 5.7-5.8 million and HSA assets to $13.6-$13.8 billion by January 31, 2021. Additionally, HSA cash is expected to reach $9.6-$9.7 billion, with investments growing to $4.0-$4.1 billion. The outlook for HSA cash yield for fiscal year 2022 has been raised to 1.75%-1.80%. The company will discuss these results during the JP Morgan Healthcare Conference on January 13, 2021.
HealthEquity (NASDAQ: HQY) reported strong Q3 FY20 results with a revenue increase of 14% year-over-year, reaching $179.4 million. The company achieved a net income of $1.8 million and a non-GAAP net income of $32.2 million, compared to a net loss of $21.3 million in Q3 FY20. Adjusted EBITDA was $61.1 million, up 10%. Notably, HSAs rose to 5.5 million, a 9% increase, while total HSA assets surged 19% to $12.4 billion. Looking ahead, the company projects FY21 revenues between $725 million and $731 million.
HealthEquity, Inc. (NASDAQ: HQY) has appointed Stuart Parker to its Board of Directors, effective immediately. Parker brings over 15 years of executive experience in the insurance and financial planning sectors, most notably as the former President and CEO of USAA. His addition returns the board to 10 members, with 8 being independent. The board chairman expressed confidence in Parker's capability to drive growth and enhance customer loyalty. HealthEquity serves over 12 million accounts, focusing on connecting health and wealth through innovative consumer-directed benefits.
HealthEquity, the largest independent HSA custodian, announced it will release its third quarter fiscal year 2021 financial results on December 7, 2020. The release will occur after the market closes, followed by a conference call at 4:30 p.m. ET to discuss the results. HealthEquity serves over 12 million accounts, focusing on connecting health and wealth through HSAs and consumer-directed benefits.
HealthEquity has released the 14th edition of The Complete HSA Guidebook, focusing on health savings accounts (HSAs). This updated edition includes vital updates reflecting the latest healthcare reforms and tax changes, such as insights from the CARES Act. As of now, the industry boasts 29.3 million HSAs with assets totaling $73.5 billion, with projections suggesting growth to 35 million accounts and over $100 billion in assets by the end of 2022. The guidebook aims to assist employers in understanding HSAs and encouraging consumers to manage their health and wealth effectively.
HealthEquity has been recognized by ADP Marketplace with two significant honors for the period ending June 30, 2020. The company was awarded the 2020 ADP Marketplace Top Closer for achieving the highest lead conversion rate through effective collaboration and understanding of the ADP sales process. Additionally, HealthEquity has been designated as an ADP Marketplace Platinum Partner, a status achieved by only 20% of its partners. These accolades highlight HealthEquity's commitment to enhancing integration and delivering cohesive benefits solutions for ADP clients.