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) provides essential news and updates for stakeholders tracking America's leading health savings account administrator. This page aggregates official press releases, financial disclosures, and strategic developments related to HSAs, consumer-directed benefits, and healthcare finance innovation.
Investors and benefits professionals will find timely updates on earnings announcements, regulatory changes, and technology enhancements shaping the health savings landscape. Our curated feed includes partnership developments with national health plans, employer benefit program expansions, and educational initiatives improving financial literacy.
All content undergoes strict verification to ensure accuracy in reporting HealthEquity's role as an IRS-approved HSA trustee. Bookmark this page for direct access to primary source materials about FDIC-insured accounts, benefits administration best practices, and evolving healthcare finance solutions.
HealthEquity (NASDAQ: HQY), the largest health savings account (HSA) custodian in the US, has announced key dates for investors. The company will release its second quarter fiscal 2025 financial results on September 3, 2024, after market close. A conference call for investors will follow at 4:30 p.m. Eastern Time, where management will review the results. Dial-in numbers are provided for US, Canada, and international callers.
Additionally, HealthEquity's management team will be presenting at two upcoming investor conferences: the 2024 Wells Fargo Healthcare Conference on September 4 in Boston, and the 2024 RW Baird Global Healthcare Conference on September 10 in New York. These events provide opportunities for investors to gain insights into the company's performance and strategy.
HealthEquity (NASDAQ: HQY) reported strong financial results for its first quarter ended April 30, 2024. Revenue reached $287.6 million, an 18% increase from Q1 FY24's $244.4 million.
Net income surged to $28.8 million from $4.1 million in Q1 FY24, while non-GAAP net income increased 64% to $70.3 million. Net income per diluted share rose to $0.33, and non-GAAP net income per diluted share increased to $0.80.
Adjusted EBITDA grew 36% to $117.4 million. The company saw a 13% increase in HSAs to 9.1 million and a 22% rise in total HSA assets to $27.3 billion. Total accounts hit 16.0 million, a 7% increase.
HealthEquity completed the acquisition of BenefitWallet HSA portfolio on May 9, 2024. Looking ahead, the company raised its FY25 guidance, expecting revenue between $1.16 billion and $1.18 billion, net income of $90 million to $105 million, and Adjusted EBITDA of $454 million to $474 million.
Conduent (Nasdaq: CNDT) has completed the transfer of its BenefitWallet Health Savings Accounts (HSA) portfolio to HealthEquity (Nasdaq: HQY), marking the final phase of a transaction worth approximately $425 million. This move aligns with Conduent's strategy to streamline its operations and focus on core capabilities, as outlined in its 2023 investor briefing. Despite the portfolio transfer, Conduent will maintain its Human Capital Solutions offerings, including customer contact services and claims processing for HealthEquity. This rationalization is a key part of Conduent's planned adjustments for 2024.
HealthEquity (Nasdaq: HQY) has completed the acquisition of Conduent’s BenefitWallet HSA portfolio, bringing over 616,000 HSA members and approximately $2.7 billion in HSA assets, including 34% in HSA investments. The acquisition boosts HealthEquity's member base to over nine million HSA members and 16 million total accounts. The newly acquired members will benefit from advanced investment tools and renowned customer support. CFO James Lucania highlighted that the new members are generally higher savers, with over 85% of their HSA cash in Enhanced Rates, representing a significant opportunity to increase value and meet the company's goal of doubling non-GAAP net income per share by fiscal 2027.
HealthEquity, Inc. (NASDAQ: HQY) announced the release of its first quarter fiscal 2025 financial results on June 3, 2024, followed by a conference call for investors. The company will also present at several investor conferences in May and June 2024.
HealthEquity, Inc. (NASDAQ: HQY) has been recognized for cultural excellence for the fourth consecutive year by Top Workplaces. The company's award-winning culture is attributed to the feedback from team members, who are praised for embracing values and mission. HealthEquity's benefits focus on work-life harmony, offering flexible remote work, mental health support, wellness programs, parental leave, and more. The company's commitment to holistic health is reflected in its culture, promoting ethics, service, community connection, and individual authenticity.
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