HealthEquity, Inc. Q4 2026 Earnings Call Summary

Achieved record HSA sales of over 1,000,000 new accounts in fiscal 2026, significantly outpacing national job growth and demonstrating strong demand for consumer-directed healthcare. Realized over 500 basis points of adjusted EBITDA margin expansion driven by platform automation, increased asset scale, and a sharp reduction in fraud costs to 1.1 basis points. Advanced the 'save, spend, invest' flywheel, noting that while 90% of members have not yet invested, asset growth continues to outpace account g ...