NASDAQ$HQY
HealthEquity Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
HealthEquity demonstrated growth and profitability, driven by an increase in new HSA members and improved Adjusted EBITDA margin.
HealthEquity reported a 19% increase in revenue, reaching $244.4 million for the first quarter ended April 30, 2023. Net income was $4.1 million, a significant improvement from the previous year's net loss of $13.6 million. The company added 134,000 new HSA members and increased its Adjusted EBITDA margin by 700 basis points year-over-year.
- Revenue increased by 19% to $244.4 million compared to Q1 FY23.
- Net income was $4.1 million, a significant turnaround from the $13.6 million net loss in Q1 FY23.
- Non-GAAP net income increased by 89% to $42.8 million compared to Q1 FY23.
- The company added 134,000 new HSA members during the quarter.
Headline financials
Revenue & EPS history
HealthEquity · Revenue · Quarterly
$244M
Revenue by segment
HealthEquity · $244M total across 3 segments · Q1 2024
- Service Revenue$105M+0.7%43.0%
- Custodial Revenue$94.4M+59.1%38.6%
- Interchange Revenue$44.9M+6.9%18.4%
Forward guidance
For the fiscal year ending January 31, 2024, HealthEquity expects revenue of $975 million to $985 million and net income between $9 million and $14 million, resulting in net income of $0.10 to $0.16 per diluted share. Non-GAAP net income is projected to be between $164 million and $171 million, or $1.88 to $1.97 per diluted share. Adjusted EBITDA is expected to be $333 million to $343 million.
Tailwinds
- Revenue is projected to be between $975 million and $985 million.
- Net income is expected to be between $9 million and $14 million.
- Non-GAAP net income is projected to be between $164 million and $171 million.
- Adjusted EBITDA is expected to be between $333 million and $343 million.
- Non-GAAP net income per diluted share is projected to be $1.88 to $1.97.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
-0.4%
Avg return
Earnings day
-1.9%
Avg return
5 days after
-1.1%
Avg return
30 days after
55%
29 / 53 earnings
Positive
+10.8%
Q1 2024
Best reaction
-22.2%
Q4 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | — | — | — | |
| Q4 2026 | +0.7% | +2.8% | +8.4% | |
| Q3 2026 | -2.9% | -5.5% | -7.7% | |
| Q2 2026 | +7.6% | +4.7% | -0.3% | |
| Q1 2026 | +9.1% | +7.1% | -1.5% | |
| Q4 2025 | -17.1% | -11.2% | -16.9% | |
| Q3 2025 | -4.8% | -4.6% | -0.5% | |
| Q2 2025 | +3.9% | -4.2% | -1.7% | |
| Q1 2025 | +2.1% | +4.4% | +2.3% | |
| Q4 2024 | -1.9% | -4.0% | -3.7% | |
| Q3 2024 | +0.4% | -0.8% | -0.7% | |
| Q2 2024 | +4.4% | +2.4% | +9.4% | |
| Q1 2024 | +10.8% | +9.4% | +6.1% | |
| Q4 2023 | +0.8% | -1.1% | +0.7% | |
| Q3 2023 | -2.3% | -7.7% | -9.8% | |
| Q2 2023 | +0.1% | +4.6% | +5.5% | |
| Q1 2023 | +2.0% | -0.0% | -4.8% | |
| Q4 2022 | +2.4% | +11.3% | +20.3% | |
| Q3 2022 | -21.3% | -24.8% | -14.4% | |
| Q2 2022 | +1.2% | -1.4% | -0.8% | |
| Q1 2022 | +0.4% | -3.2% | -1.6% | |
| Q4 2021 | -5.9% | -9.4% | -11.8% | |
| Q3 2021 | -3.7% | -8.5% | +8.1% | |
| Q2 2021 | +5.4% | -11.8% | -6.2% | |
| Q1 2021 | -6.6% | +5.9% | -5.6% | |
| Q4 2020 | -22.2% | -17.9% | -15.1% | |
| Q3 2020 | +2.9% | +9.6% | +17.4% | |
| Q2 2020 | -6.1% | -6.3% | -8.1% | |
| Q1 2020 | +1.7% | +6.0% | -0.4% | |
| Q4 2019 | +2.9% | -10.2% | -23.8% | |
| Q3 2019 | -17.5% | -23.8% | -38.8% | |
| Q2 2019 | +2.9% | +3.0% | -3.9% | |
| Q1 2019 | +4.8% | +4.6% | +1.1% | |
| Q4 2018 | +8.7% | +6.7% | +11.3% | |
| Q3 2018 | -5.8% | -6.4% | -1.7% | |
| Q2 2018 | +7.3% | +6.0% | +23.1% | |
| Q1 2018 | +8.8% | +7.4% | -0.2% | |
| Q4 2017 | -4.6% | -12.1% | -0.9% | |
| Q3 2017 | -1.1% | -2.4% | -2.8% | |
| Q2 2017 | +3.0% | -0.7% | +13.1% | |
| Q1 2017 | +7.9% | +7.4% | +11.7% | |
| Q4 2016 | +5.2% | — | — | |
| Q3 2016 | -4.6% | — | — | |
| Q2 2016 | +6.5% | — | — | |
| Q1 2015 | -0.1% | — | — | |
| Q1 2016 | +3.2% | — | — | |
| Q4 2013 | -0.1% | — | — | |
| Q1 2014 | -0.1% | — | — | |
| Q4 2015 | -1.0% | — | — | |
| Q3 2014 | -8.0% | — | — | |
| Q3 2015 | +0.7% | — | — | |
| Q2 2015 | -0.3% | — | — | |
| Q4 2014 | -0.3% | — | — | |
| Q2 2014 | -0.3% | — | — |
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