HealthEquity Reports First Quarter Ended April 30, 2024 Financial Results Highlights of the first quarter include: Draper, Utah – June 3, 2024 – HealthEquity, Inc. (NASDAQ: HQY) ("HealthEquity" or the "Company"), the nation's largest health savings account ("HSA") custodian, today announced financial results for its first quarter ended April 30, 2024. "Record first quarter HSA sales, greater Enhanced Rates adoption, and timely transition of two of three BenefitWallet tranches made for a great team start to ...

Highlights of the first quarter include: Revenue of $287.6 million, an increase of 18% compared to $244.4 million in Q1 FY24. Net income of $28.8 million, compared to $4.1 million in Q1 FY24, with non-GAAP net income of $70.3 million, an increase of 64% compared to $42.8 million in Q1 FY24. Net income per diluted share of $0.33, compared to $0.05 in Q1 FY24, with non-GAAP net income per diluted share of $0.80, compared to $0.50 in Q1 FY24. Adjusted EBITDA of $117.4 million, an increase of 36% compared to $8 ...

Highlights of the first quarter include: Revenue of $287.6 million, an increase of 18% compared to $244.4 million in Q1 FY24. Net income of $28.8 million, compared to $4.1 million in Q1 FY24, with non-GAAP net income of $70.3 million, an increase of 64% compared to $42.8 million in Q1 FY24. Net income per diluted share of $0.33, compared to $0.05 in Q1 FY24, with non-GAAP net income per diluted share of $0.80, compared to $0.50 in Q1 FY24. Adjusted EBITDA of $117.4 million, an increase of 36% compared to $8 ...

HealthEquity, Inc. (HQY) is scheduled to release first-quarter fiscal 2025 results on Jun 3 after the closing bell. In the last reported quarter, the company's earnings per share (EPS) of 63 cents surpassed the Zacks Consensus Estimate by 12.5%. Over the trailing four quarters, its earnings outperformed the Zacks Consensus Estimate on all occasions, delivering an earnings surprise of 17.4%, on average. Let's see how things have shaped up prior to this announcement. Factors at Play Over the past few months, ...

The collective assessment of analysts points to an estimated 'Total HSA Assets' of $25.82 billion. The estimate compares to the year-ago value of $22.32 billion. Bearing this in mind, let's now explore the average estimates of specific HealthEquity metrics that are commonly monitored and projected by Wall Street analysts. Analysts forecast 'Revenue- Service revenue' to reach $113.48 million. The estimate indicates a year-over-year change of +8%. The consensus estimate for 'Revenue- Custodial revenue' stands ...

Core Viewpoint - HealthEquity, Inc. (HQY) is experiencing growth driven by its business model and strong performance in Health Savings Accounts (HSA), despite facing competition and integration challenges from acquisitions [1][2]. Business Model and Strategy - HealthEquity employs a business-to-business-to-consumer distribution strategy, aiming to expand service offerings to current clients and attract new ones through a diverse distribution network [4]. Strength in HSA - As of January 31, 2024, HealthEquity's total number of HSAs increased by 8.9% year over year, with 610,000 HSAs having investments, marking a 12.8% rise. Total accounts grew by 5.2%, including 7 million other consumer-directed benefits (CDB). Total HSA assets rose by 13.9% year over year [5]. Strong Q4 Results - HealthEquity reported solid top and bottom-line performances in the fourth quarter, benefiting from robust contributions across most revenue sources and an expansion of margins [6]. Downsides - The success of recent acquisitions hinges on effective integration, which may be more time-consuming and costly than anticipated, potentially disrupting ongoing business operations [7][8]. - HealthEquity faces significant competition in the Medical Services market, which is rapidly evolving and fragmented. The company's success relies on consumer engagement with HSAs and demonstrating the value of its services [9]. Estimate Trend - HealthEquity has seen a positive estimate revision trend for fiscal 2025, with the Zacks Consensus Estimate for earnings per share increasing by 2.1% to $2.90. The consensus estimate for first-quarter revenues is $278.8 million, indicating a 14.1% rise from the previous year [10].

HealthEquity (HQY) recently announced the completion of the acquisition of Conduent's BenefitWallet Health Savings Account (HSA) portfolio. In September 2023, HealthEquity entered into an agreement to acquire the BenefitWallet HSA portfolio from Conduent Business Services, LLC Price Performance In the past six months, HQY shares have gained 12.7% compared with the industry's rise of 13.0%. The S&P 500 has gained 17.7% in the same time frame. Image Source: Zacks Investment Research More on the Agreement The ...

DRAPER, Utah, May 07, 2024 (GLOBE NEWSWIRE) -- HealthEquity, Inc. (NASDAQ:HQY) ("HealthEquity" or the "Company"), the nation's largest health savings account ("HSA") custodian, today announced plans to release its first quarter of fiscal 2025 financial results following the close of regular stock market trading hours on Monday, June 3, 2024. Following the news release, HealthEquity management plans to host a conference call for investors on Monday, June 3, 2024, at 4:30 p.m. Eastern Time during which manage ...

DRAPER, Utah, May 02, 2024 (GLOBE NEWSWIRE) -- HealthEquity, Inc. (NASDAQ:HQY), the nation's largest Health Savings Account (HSA) custodian has received a Culture Excellence Award by Top Workplaces for the fourth consecutive year. "Our teammates deserve all the credit when it comes to this award," said Cheryl King, executive vice president and chief human resource officer. "They have embraced our values and strive to bring our mission to life each day. Together, we're making big things happen. We know if we ...

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