HealthEquity, Inc.

NASDAQ•HQY

CEO: Mr. Jon Kessler

Sector: Healthcare

Industry: Medical - Healthcare Information Services

Listing Date: 2014-07-31

HealthEquity, Inc. provides technology-enabled services platforms to consumers and employers in the United States. The company offers cloud-based platforms for individuals to make health saving and spending decisions, pay healthcare bills, receive personalized benefit information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts. It also provides investment platform; and online-only automated investment advisory services through Advisor, a Web-based tool. In addition, the company offers flexible spending accounts; health reimbursement arrangements; and Consolidated Omnibus Budget Reconciliation Act continuation services, as well as administers pre-tax commuter benefit programs. It serves clients through a direct sales force; benefits brokers and advisors; and a network of health plans, benefits administrators, benefits brokers and consultants, and retirement plan record-keepers. HealthEquity, Inc. was incorporated in 2002 and is based in Draper, Utah.

Contact Information

15 West Scenic Pointe Drive, Suite 100, Draper, UT, 84020, United States

801-727-1000

www.healthequity.com

Market Cap

$7.39B

P/E (TTM)

32.3

29.2

Dividend Yield

52W High

$106.60

52W Low

$72.76

52W Range

46%

Rank31Top 21.6%

5.0

F-Score

Modified Piotroski Analysis

Based on 10-year fundamentals

Average • 5 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2016-2025

Financial Dashboard

Q1 2027 Data

Revenue

$354.64M+0.00%

4-Quarter Trend

EPS

$0.82+0.00%

4-Quarter Trend

FCF

$97.16M+0.00%

4-Quarter Trend

2026 Annual Earnings Highlights

Key Highlights

Net Income Soars 123% Net income reached $215.2M, marking a substantial 123% increase from prior year results.

Total Revenue Grows 9% Total revenue reached $1.313B, reflecting 9% growth fueled by custodial revenue gains of 17%.

HSA Assets Increase 14% Total HSA Assets grew $4.4B to $36.464B, showing strong consumer savings adoption and investment growth.

Adjusted EBITDA Up 20% Adjusted EBITDA increased $94.2M to $566.0M, reflecting 20% growth driven by technology efficiencies.

Risk Factors

Tax Benefit Changes Threaten Revenue Diminution or elimination of tax benefits for HSAs could materially and adversely affect substantially all revenue streams.

Custodial Partner Failure Risk Failure of insurance or Depository Partners holding HSA cash could cause reputational and financial harm to the Company.

Interest Rate Decline Impact Declining prevailing interest rates negatively impact custodial revenue yield on HSA Assets and Client-held funds.

AI Technology Deployment Risks Expanding use of AI technologies introduces new operational, security, legal, and reputational risks requiring governance.

Outlook

Continued Technology Modernization Investment Investing in proprietary technology modernization, including increased use of AI tools, to enhance security and efficiency.

Enhanced Rates Yield Improvement Expecting custodial revenue growth as HSA cash transitions from Basic Rates to higher-yielding Enhanced Rates contracts.

Focus on Bundled CDB Offerings Strengthening value proposition by continuing to offer bundled HSA and complementary CDB solutions to employers.

Selective Acquisition Strategy Continues Expect to continue growth strategy by evaluating and integrating acquisitions that strengthen service offerings.

Peer Comparison

Revenue (TTM)

MOH

$45.08B

+7.7%

DVA

$13.84B

+6.7%

HSIC

$13.38B

+5.6%

Gross Margin (Latest Quarter)

CORT

98.3%

-0.6pp

HQY

72.3%

+6.3pp

JAZZ

71.3%

-12.3pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
GH	$17.45B	-39.9	184.3%	87.5%
JAZZ	$14.48B	483.9	0.7%	45.7%
DVA	$13.40B	18.0	-133.1%	75.5%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

2.9%

Moderate Growth

4Q Net Income CAGR

5.1%

Profitability Improving

Cash Flow Stability

100%

Strong Cash Flow

Deep Research

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data