HealthEquity (HQY) Q1 Earnings Surpass Estimates, Margins Up

As of Apr 30, 2024, the total number of Health Savings Accounts (HSA) for which HealthEquity served as a non-bank custodian (HSA members) was 9.1 million, up 13.1% year over year. HealthEquity reported 665,000 HSAs with investments as of Apr 30, 2024, up 19.6% year over year. Total Accounts, as of Apr 30, 2024, were 16 million, up 6.7% year over year. This uptick included total HSAs and 6.9 million other Consumer Direct Benefits (CDBs), down 0.6% year over year. Total HSA assets were $27.28 billion at the e ...