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. (NASDAQ: HQY) is widely described in its disclosures as the nation’s largest health savings account (HSA) custodian by number of accounts and a leader in administering HSAs and complementary consumer-directed benefits. This news page aggregates press releases and other coverage related to HealthEquity’s operations, financial performance, technology initiatives, research, and community activities.
Visitors to this page can review HealthEquity news on quarterly and annual financial results, including updates on service, custodial, and interchange revenue, as well as trends in HSA assets, total accounts, and client-held funds. Earnings releases often discuss non-GAAP metrics such as Adjusted EBITDA and non-GAAP net income, along with commentary from management on business performance and outlook.
HealthEquity news also highlights product and technology developments. Recent announcements include the deployment of agentic AI in partnership with Parloa to deliver conversational, omnichannel member support, the launch of Expedited Claims AI and HSAnswers, and the introduction of the HealthEquity Assist™ suite, which includes Analyzer™, Navigator™, and Momentum™. Additional news covers consumer-focused initiatives such as the GLP-1 telehealth offering for weight management and the direct HSA enrollment platform available through the company’s mobile and web channels.
Other releases feature research such as the Healthcare Affordability Pulse survey, which examines generational differences in HSA adoption, financial preparedness, and workplace financial stress, as well as updates from the HealthEquity Community Foundation on grants to nonprofit organizations focused on health, mental health, financial literacy, and basic needs. Investors and observers can use this page to follow HealthEquity’s disclosures on strategy, risk factors, partner ecosystem, and community impact over time.
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.
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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.