Healthequity Inc Stock Price, News & Analysis

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.

HealthEquity (HQY) reported a Q2 FY23 revenue of $206.1 million, a 9% increase from $189.1 million in Q2 FY22. However, the company incurred a net loss of $10.7 million, compared to a loss of $3.8 million in the same quarter last year. Non-GAAP net income decreased by 16% to $28.1 million, with earnings per diluted share of $0.33, down from $0.40. Adjusted EBITDA rose 2% to $67.0 million. The company saw 7.5 million HSAs, a 26% increase year-over-year, and total HSA assets grew 33% to $20.5 billion.

HealthEquity, Inc. (HQY) announced the election of Paul M. Black to its Board of Directors, enhancing the board to 12 members, 10 of whom are independent. Black brings over 25 years of executive experience, previously serving as CEO of Allscripts Healthcare Solutions. His expertise in healthcare IT is expected to contribute significantly to HealthEquity's mission to connect health and wealth for American families. Black will participate in both the Audit and Risk Committee and the Talent, Compensation and Culture Committee, signaling a focus on governance and corporate culture.

HealthEquity (NASDAQ: HQY) announced the release of its Q2 fiscal 2023 financial results set for September 6, 2022, after market close. Management will discuss these results during a conference call at 4:30 p.m. ET on the same day. Investors can register for the call online. Additionally, HealthEquity will participate in two upcoming investor conferences in September, presenting at the Wells Fargo Healthcare Conference on September 7 and the RW Baird Global Healthcare Conference on September 13. More than 14 million accounts are administered by HealthEquity through its HSA services.

HealthEquity reported Q1 FY23 revenue of $205.7 million, marking a 12% increase from $184.2 million in Q1 FY22. However, the company incurred a net loss of $13.6 million compared to $2.6 million in the previous year, with non-GAAP net income falling by 27% to $22.7 million. Adjusted EBITDA was $58.3 million, down 1%. The total number of HSAs increased by 26% to 7.4 million, with total HSA assets reaching $20.3 billion—a 35% increase. Outlook for FY23 projects revenues between $827 million and $837 million.

HealthEquity, the largest independent health savings account provider in the U.S., will announce its fiscal Q1 2023 financial results after market close on June 6, 2022. A conference call for investors will occur on the same day at 4:30 p.m. ET, allowing management to discuss the results. Additionally, HealthEquity will participate in the 2022 RW Baird Conference on June 7, 2022. For over 14 million accounts, HealthEquity partners with employers and advisors, focusing on enhancing consumer-directed benefits.

HealthEquity (NASDAQ: HQY) has released its second annual Corporate Social Responsibility (CSR) Report, highlighting advancements in ESG efforts and setting measurable goals for future improvement. The report emphasizes the company's commitment to transparency and includes a Materiality Assessment using recognized frameworks like the Global Reporting Initiative and Sustainability Accounting Standards Board. The company aims to enhance workforce diversity and create an inclusive environment, believing such efforts drive innovation and fulfill customer needs.