HealthEquity Reports Third Quarter Ended October 31, 2025 Financial Results

Core Insights - HealthEquity, Inc. reported a record third quarter for fiscal 2026, achieving a net income of $52 million, a 20% growth in Adjusted EBITDA, and a 29% increase in non-GAAP net income per share, highlighting the company's commitment to enhancing healthcare consumer experiences [2][4]. Financial Performance - Revenue for the third quarter ended October 31, 2025, was $322.2 million, reflecting a 7% increase from $300.4 million in the same quarter of the previous year [3][12]. - The company reported net income of $51.7 million, or $0.59 per diluted share, compared to $5.7 million, or $0.06 per diluted share, for the same quarter in 2024 [4][12]. - Adjusted EBITDA reached $141.8 million, marking a 20% increase compared to the previous year, with Adjusted EBITDA representing 44% of revenue, up from 39% [5][40]. Account and Asset Metrics - As of October 31, 2025, HealthEquity administered 10.1 million HSAs, a 6% increase year-over-year, including 802,000 HSAs with investments, which is a 12% increase [6][32]. - Total HSA Assets amounted to $34.4 billion, reflecting a 15% year-over-year growth, with $16.9 billion in HSA cash and $17.5 billion in HSA investments [7][34]. Shareholder Returns - The company repurchased 1.0 million shares of its common stock for $93.7 million during the third quarter, with $258.8 million remaining authorized for future repurchases [8][12]. Business Outlook - For the fiscal year ending January 31, 2026, management anticipates revenues between $1.302 billion and $1.312 billion, with net income projected between $197 million and $205 million, translating to net income per diluted share of $2.24 to $2.33 [9][41].