HQY
HealthEquity, Inc.96.00
+0.25+0.26%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '26
Reaffirms script; adds margin, marketplace details
Q&A largely reaffirmed HealthEquity's FY2026 beats and raised FY2027 guidance, surfacing operational color without contradictions. Management detailed AI-driven service efficiencies—split evenly across member, client, and back-office—priming further gross margin expansion beyond fraud wins. Early marketplace traction impressed with strong sign-ups, low churn, and rebound contributions, yet excluded from outlook. ACA bronze cohorts showed robust self-funded contributions early on. Competition? 98% revenue retention, enterprise share gains. Rates risk muted by enhanced migration. Watch marketplace ramp.
Key Stats
Market Cap
8.30BP/E (TTM)
44.04Basic EPS (TTM)
2.18Dividend Yield
0%Recent Filings
8-K
Appoints Sanford CEO to board
HealthEquity expanded its board to 10 members by appointing William Gassen, Sanford Health's CEO, effective March 26, 2026. Gassen joins the Audit and Risk and Talent, Compensation and Culture Committees, bringing expertise in healthcare delivery and financing. The company earned $123,923 from Sanford Health last fiscal year. Board gains rural health system perspective.
10-K
FY2026 results
HealthEquity grew HSAs 7% to 10.6 million accounts with $36.5B assets (up 14% y/y), driving FY2026 revenue up 9% to $1.31B and net income tripling to $215M, fueled by 17% custodial revenue gains from higher yields (3.53% avg) and Enhanced Rates adoption to 58%. Q4 momentum shone through seasonal account onboarding, record HSA investments up 26% y/y, and efficiencies slashing service costs 7% despite Total Accounts rising 4% to 17.8M. Cash flow from operations hit $457M; $299M buybacks and $100M debt prepay underscore liquidity with $319M cash and $638M revolver capacity. HSA tax benefits remain vulnerable to policy shifts.
8-K
Record revenue, raised outlook
HealthEquity posted record FY2026 revenue of $1.31B, up 9%, with net income soaring 123% to $215.2M and Adjusted EBITDA up 20% to $566M at 43% margin. HSA assets hit $36.5B, up 14%, after adding 1M new HSAs from sales. Raised FY2027 guidance to $1.405-1.415B revenue. Repurchases returned $302M to shareholders.
8-K
Record HSA sales growth
HealthEquity hit record fiscal 2026 sales, adding over 1 million new HSAs while growing total accounts 4% to 17.8 million and HSA assets 14% to $36.5 billion as of January 31. Q4 new HSAs surged 17% year over year despite soft job growth. Sales crushed it. Reaffirmed FY26 guidance at top end; full FY27 outlook due in March.
8-K
FY2027 outlook issued
HealthEquity issued initial FY2027 outlook with revenues of $1.38B-$1.41B, Adjusted EBITDA margin 43.8%-44.3%, and HSA Cash yield ~3.75%, while reaffirming FY2026 guidance. Management credits modernization and ecosystem momentum for compounding growth amid healthcare affordability pressures. Risks include custodial asset safeguards and competition. Webcast at JPM conference tomorrow.
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