Healthequity Inc Stock Price, News & Analysis

HealthEquity (HQY) reported strong Q3 FY25 results with revenue of $300.4 million, up 21% year-over-year. The company achieved net income of $5.7 million ($0.06 per diluted share) and non-GAAP net income of $69.4 million ($0.78 per diluted share). Key metrics showed significant growth with 9.5 million HSAs (up 15%), Total HSA Assets of $30.0 billion (up 33%), and 16.5 million Total Accounts (up 8%). The company repurchased 0.7 million shares for $60.0 million and raised its FY25 guidance, projecting revenue between $1.185-1.195 billion and Adjusted EBITDA of $470-480 million.

HealthEquity has announced a webinar focused on 2025 benefits trends, scheduled for December 10, 2024. The event will address benefits affordability and cost containment strategies for employers and employees. Key topics include technology-driven cost transparency, with nearly 80% of young consumers open to AI-driven solutions, and strategies to address the 30% of healthcare consumers who delay care due to costs. The panel features experts including Julia May from Wayne-Sanderson Farms, Ned Godwin from TIAA, and Dr. Steve Neeleman from HealthEquity. The discussion will explore solutions like HSA optimization and Lifestyle Spending Accounts, considering an anticipated 8% medical cost increase.

HealthEquity (NASDAQ: HQY) announced that Chief Marketing Officer Tia Padia has received the MarCom Visionary CMO Award for developing the HealthEquity Immersion Experience. This innovative project, launched in early 2024, showcases the company's understanding of client and member benefits through an interactive, immersive event. The experience combines virtual and artificial reality technologies to demonstrate how HealthEquity supports healthcare consumers in managing their expenses. The project features immersive insights through high-resolution visuals, research-informed member personas, and empathy-driven engagement to highlight the company's commitment to improving healthcare consumer experiences.

HealthEquity (NASDAQ: HQY), the nation's largest HSA custodian, announced that CEO Jon Kessler will retire effective January 6, 2025, after 15 years of leadership. Scott Cutler has been appointed as the new President and CEO, joining the company on the same date. Cutler, 55, brings extensive experience from his roles as CEO of StockX , Senior VP at eBay, and President of StubHub. Kessler will remain as a director and special advisor through April 30, 2025. The company will host a conference call on November 12, 2024, to discuss the transition plan.

HealthEquity, the largest HSA custodian in the US, has scheduled its third quarter fiscal 2025 financial results release for December 9, 2024, after market close. The company will host a conference call at 4:30 p.m. Eastern Time to discuss the results. The call will be accessible via phone (US/Canada: 1-833-630-1956, International: 1-412-317-1837) and webcast through ir.healthequity.com, with a replay available on the company's website.

HealthEquity (NASDAQ: HQY) has secured two prestigious Golden Globee® awards at the 2024 Globee® Awards for Technology. The company won recognition for its AI-based claims processing advancements, while EVP and CTO Eli Rosner received the Chief Technology Officer of the Year honor.

The company's innovative AI claims processing tool aims to expedite claims and reduce errors, allowing members to focus on their health rather than paperwork. HealthEquity has also launched HSAnswers, an AI-driven tool providing information about HSAs and consumer-directed benefits during open enrollment season. Future developments include customized benefits tools, payment integrations, and technology enhancements to support members' health and wealth management.

HealthEquity (Nasdaq: HQY) has launched HSAnswers, a free AI chat tool designed to provide instant, educational information about Health Savings Accounts (HSAs) and other consumer-directed benefits. The tool aims to address the challenge faced by employees who feel overwhelmed by the amount of benefits information available.

Key features of HSAnswers include:

• Instant responses to HSA-related inquiries
• A curated knowledge base powered by HealthEquity's expertise
• A user-friendly interface accessible to all

The tool is available on HealthEquity's website and is intended to help bridge the benefits knowledge gap, especially during open enrollment season. It focuses on providing information about various consumer-directed benefit products, including HSAs, FSAs, and HRAs.

HealthEquity, Inc. (Nasdaq: HQY), a leader in Health Savings Account (HSA) and consumer-directed benefits administration, has announced the launch of its HealthEquity Community Foundation. The foundation aims to build healthcare literacy and confidence across the United States by providing grants to nonprofit charitable organizations.

The foundation will focus on four key areas: Health & Medicine, Financial Education and Literacy, Mental Health & Crisis Support, and Basic Human Needs. In its first year, the foundation has committed to providing grants to organizations working in these areas, with a particular emphasis on serving under-resourced communities and addressing healthcare inequities.

Jon Kessler, president and CEO of HealthEquity, stated that this initiative expands on the company's two-decade-long commitment to making a difference in local communities. Dale Miller, President of the Foundation, emphasized that this is a formal extension of HealthEquity's longstanding commitment to empowering communities.

HealthEquity (Nasdaq: HQY) has released research findings on how Health Savings Account (HSA) contribution strategies influence employee participation. The study, analyzing nearly 2,000 HealthEquity clients and over 2 million HSA members, reveals that companies who both seed and match HSA contributions see 15% higher participation than those who don't contribute.

Key findings include:

• Any employer contribution increases HSA enrollment
• Matching strategies yield the highest employee contribution rates
• Seed contributions provide the most positive impact on benefits equity
• Employees with HSAs save an average of 16%, while employers save 2% per HSA enrollee

The research frames HSA contribution strategies through six key areas: enrollment, employer cost savings, employee benefit equity, contribution support, employee savings retention, and investing. As of June 2024, nearly $137 billion in assets were housed in over 37 million HSAs in the U.S.