Welcome to our dedicated page for Healthequity news (Ticker: HQY), a resource for investors and traders seeking the latest updates and insights on Healthequity stock.
HealthEquity, Inc. (NASDAQ: HQY) is widely described in its disclosures as the nation’s largest health savings account (HSA) custodian by number of accounts and a leader in administering HSAs and complementary consumer-directed benefits. This news page aggregates press releases and other coverage related to HealthEquity’s operations, financial performance, technology initiatives, research, and community activities.
Visitors to this page can review HealthEquity news on quarterly and annual financial results, including updates on service, custodial, and interchange revenue, as well as trends in HSA assets, total accounts, and client-held funds. Earnings releases often discuss non-GAAP metrics such as Adjusted EBITDA and non-GAAP net income, along with commentary from management on business performance and outlook.
HealthEquity news also highlights product and technology developments. Recent announcements include the deployment of agentic AI in partnership with Parloa to deliver conversational, omnichannel member support, the launch of Expedited Claims AI and HSAnswers, and the introduction of the HealthEquity Assist™ suite, which includes Analyzer™, Navigator™, and Momentum™. Additional news covers consumer-focused initiatives such as the GLP-1 telehealth offering for weight management and the direct HSA enrollment platform available through the company’s mobile and web channels.
Other releases feature research such as the Healthcare Affordability Pulse survey, which examines generational differences in HSA adoption, financial preparedness, and workplace financial stress, as well as updates from the HealthEquity Community Foundation on grants to nonprofit organizations focused on health, mental health, financial literacy, and basic needs. Investors and observers can use this page to follow HealthEquity’s disclosures on strategy, risk factors, partner ecosystem, and community impact over time.
HealthEquity has announced a public offering of $250 million in common stock. The company plans to utilize approximately $200 million of the proceeds to pre-pay its term loan facility, while the remaining funds will support general corporate purposes, including potential acquisitions. The offering is led by Wells Fargo and J.P. Morgan, with shares offered under an effective shelf registration statement filed with the SEC. HealthEquity serves over 12 million accounts, managing Health Savings Accounts and consumer-directed benefits.
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HealthEquity (NASDAQ: HQY) announced the appointment of Tyson Murdock as Executive Vice President and Deputy CFO, effective July 1, 2020, succeeding Darcy Mott as CFO on April 1, 2021. Mott, who served as CFO for 14 years, will assist in ensuring a smooth transition and will continue in an advisory role post-transition. Murdock, joining from eBay, brings 25 years of experience. Under Mott's leadership, HealthEquity's revenue grew from under $5 million to over $530 million, while increasing profitability consistently.
HealthEquity announced that its 2020 Annual Meeting of Stockholders will be held virtually on June 25, 2020, at 10:00 a.m. MDT due to COVID-19 restrictions. Stockholders of record as of May 4, 2020, are encouraged to submit their votes in advance using the proxy card previously distributed. To attend the virtual meeting, stockholders can log in at this link with their unique control number. HealthEquity administers HSAs and consumer-directed benefits for over 12 million accounts.
HealthEquity reported a strong Q1 FY21, with revenue of $190.0 million, up 118% from $87.1 million in Q1 FY20. The net income was $1.8 million, while non-GAAP net income rose to $30.8 million, reflecting a 12% increase. Adjusted EBITDA reached $63.0 million, a 62% increase year-over-year. Key metrics included 5.4 million HSAs opened, a 33% increase, and total HSA assets of $11.5 billion, up 38%. Due to COVID-19 uncertainty, full-year guidance was withdrawn, but Q2 revenue is projected between $168 million and $173 million.
HealthEquity (NASDAQ: HQY) has launched a free online health insurance education tool aimed at assisting Americans facing job loss in navigating their health insurance options. The tool presents multiple-choice questions to help users identify relevant options such as Affordable Care Act exchanges and COBRA. Developed by experts, it incorporates recent regulatory changes, including the CARES Act. The initiative addresses the increasing need for health coverage due to rising unemployment rates, serving as an essential resource for individuals seeking to make informed decisions about their health insurance.
HealthEquity, the largest independent HSA custodian, will announce its first quarter fiscal year 2021 financial results on June 2, 2020, after market close. A conference call is scheduled for the same day at 4:30 p.m. ET to discuss these results. The company also plans to participate in several investor conferences, including the R.W. Baird Virtual Conference on June 3 and the Goldman Sachs Global Healthcare Conference on June 9. Investors can access the conference call via dial-in and webcast.