HealthEquity, Inc. - $HQY STOCK NEWS

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) is the nation's oldest and largest dedicated health savings trustee, providing innovative solutions that empower individuals and families to save and spend on healthcare efficiently. The company offers an integrated platform for health care account administration and investment, bolstered by round-the-clock support, personalized savings strategies, and comprehensive consumer education.

Founded by Dr. Stephen Neeleman, HealthEquity partners with over 14,000 employers and 60 national health plans to streamline benefits spending. Its offerings include Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), Consolidated Omnibus Budget Reconciliation Act (COBRA) administration, commuter benefits, and more.

As of October 31, 2023, HealthEquity manages 15.3 million accounts, including 8.3 million HSAs, with assets totaling $22.6 billion. This includes $14.0 billion in HSA cash and $8.6 billion in HSA investments. The company’s recent acquisition of the BenefitWallet HSA portfolio added approximately $2.8 billion in assets, emphasizing its leadership in the health savings space.

Financially, HealthEquity reported a robust third quarter in 2023, with $249.2 million in revenue, reflecting a 15% year-over-year growth. The company's net income for the quarter stood at $14.7 million, or $0.17 per diluted share. Adjusted EBITDA increased by 30% to $95.6 million, underscoring HealthEquity’s growth and operational efficiency.

Looking forward, HealthEquity projects fiscal year 2024 revenue to be between $985 million and $995 million. The company aims to maintain strong growth through its focus on enhancing consumer experiences and leveraging its extensive partnerships across the health benefits ecosystem.