Healthequity Inc Stock Price, News & Analysis

HealthEquity (HQY) reported solid financial results for the fiscal year ended January 31, 2023, achieving $861.7 million in revenue, a 14% increase from FY22. The company posted a net loss of $26.1 million, significantly improved from a loss of $44.3 million in the previous year. Non-GAAP net income rose to $114.5 million, up from $110.2 million, while Adjusted EBITDA increased 15% to $272.3 million. The company recorded 8.0 million HSAs, with total HSA assets reaching $22.1 billion. Looking ahead, HealthEquity estimates fiscal 2024 revenues between $960 million and $975 million.

HealthEquity, Inc. (NASDAQ: HQY) will release its fourth quarter and fiscal year 2023 financial results on March 21, 2023, after market close. Following the release, the management will hold a conference call at 4:30 p.m. ET to discuss the results. Investors can join the call by dialing 1-833-630-1956 (toll-free) or via the webcast link provided. Additionally, HealthEquity will participate in the KeyBanc Virtual Life Sciences & MedTech Investor Forum on March 22, 2023, at 1:30 p.m. ET. The company, recognized as the largest HSA custodian, manages nearly 15 million accounts with a mission to connect health and wealth.

HealthEquity (NASDAQ: HQY) reported significant growth in its year-end updates for fiscal 2023. As of January 31, 2023, the company managed 8.0 million HSAs, a 11% increase from the previous year, and 14.9 million Total Accounts, up 4%. HSA Assets grew to $22.1 billion, marking a 13% increase year-over-year. CEO Jon Kessler announced record sales with nearly 1 million new HSAs and expects to achieve the top end of revenue guidance of approximately $860 million. An earnings update is scheduled for March 21, 2023, along with participation in investor conferences.

HealthEquity, Inc. (NASDAQ: HQY) announced significant growth in its health savings accounts (HSAs) as it approaches the end of fiscal year 2023. Estimated HSAs are projected to reach approximately 8 million, up from 7.2 million the previous year. Total HSA assets are expected to approach $22 billion, a rise from $19.6 billion. The company estimates nearly 15 million total accounts and anticipates over 120,000 employer clients by year-end. CEO Jon Kessler emphasizes the success of new HSA openings and expects continued growth driven by rising member assets and interest rates.

HealthEquity, Inc. (NASDAQ: HQY) announced a successful partnership with Pfizer to enhance diversity, equity, and inclusion (DEI) in employee benefits. The innovative HSA plan categorizes employees into four income tiers, providing the highest contributions to lower income earners. This approach led to over one-third of eligible employees enrolling in the HSA plan, with 37% from the lowest income tier. The initiative addresses the needs of all employees, aiming to improve healthcare access and long-term financial wellbeing while affirming the significance of benefits in driving DEI advancements.

HealthEquity (NASDAQ: HQY) reported strong third-quarter results, achieving revenue of $216.1 million, up 20% year-over-year. The net loss narrowed to $1.6 million, compared to $5.0 million in Q3 FY22, with non-GAAP net income rising to $32.4 million, a 12% increase. The company recorded Adjusted EBITDA of $73.4 million, also up 20%. HealthEquity's HSAs increased to 7.7 million, a 23% growth. For FY23, management projects revenue between $850 million and $860 million, with a net loss guidance of $34 million to $27 million.

HealthEquity, the largest HSA custodian in the US, announced the release of its third quarter fiscal 2023 financial results on December 6, 2022. Following the announcement, management will host a conference call at 4:30 p.m. ET to discuss the results. The company partners with employers and benefits advisors to serve over 14 million accounts, focusing on connecting health and wealth.

For further details, visit www.healthequity.com.

Thomas H. Lee Partners announced the appointment of Paul Black as a consultant for its healthcare investment group. With over 25 years in healthcare IT, Black will assist in identifying and growing investment opportunities. His past roles include CEO of Allscripts (MDRX) and COO of Cerner (CERN). Shahab Vagefi, Managing Director at THL, emphasized Black's experience will enhance their strategy focused on healthcare technology investments. THL has raised over $34 billion and has a history of successful healthcare investments.