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. (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 (NASDAQ: HQY) reported impressive Q2 results for the fiscal year ending July 31, 2020, with revenue reaching $176.0 million, a 103% increase from $86.6 million in Q2 FY20. Despite a net loss of $0.1 million, the company achieved a non-GAAP net income of $30.1 million, or $0.42 per diluted share. Adjusted EBITDA was $60.0 million, up 48% year-over-year. Total HSA Assets grew to $12.2 billion, reflecting a 43% year-over-year increase. HealthEquity also completed its WageWorks acquisition, surpassing synergy targets with an increased target of $80 million.
HealthEquity (NASDAQ: HQY) will release its second quarter fiscal year 2021 financial results on September 8, 2020, after market close. A conference call will follow at 4:30 p.m. ET to discuss the results. The company will also participate in several virtual investor conferences, including the Wells Fargo Healthcare Conference on September 9 and the RW Baird Healthcare Conference on September 10. HealthEquity is the largest independent HSA custodian, managing over 12 million accounts.
HealthEquity, Inc. (NASDAQ: HQY) has completed a public offering, raising approximately $37.5 million by selling 690,000 new shares after the underwriters exercised their over-allotment option. This offering follows an earlier sale that generated $257.6 million in gross proceeds. The company plans to utilize the net proceeds to pre-pay $200 million of its term loan facility, allowing for further capital allocation toward both organic and inorganic growth strategies.
HealthEquity, Inc. (NASDAQ: HQY) announced the successful closing of its public offering of 4,600,000 shares, generating $257.6 million in gross proceeds. A 30-day option for underwriters to purchase an additional 690,000 shares was granted. The net proceeds will primarily be utilized to pre-pay $200 million under its term loan facility, with the remainder allocated for general corporate purposes and potential acquisitions. Wells Fargo Securities and J.P. Morgan acted as lead managers for this offering.
HealthEquity (HQY) has priced an underwritten public offering of 4,600,000 shares of common stock at $56.00 per share, generating estimated gross proceeds of $257.6 million. The offering is set to close on July 13, 2020, contingent on customary conditions. HealthEquity plans to utilize approximately $200 million of the proceeds for pre-paying its term loan, with the remaining funds aimed at supporting organic and inorganic growth and other corporate purposes. An additional option for underwriters to purchase 690,000 shares is also included.
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.