HealthEquity Inc · Q2 2022 earnings

Briefing

HealthEquity's performance in Q2 2022 showed revenue growth and strategic acquisitions were planned.

HealthEquity reported a 7% increase in revenue to $189.1 million for the second quarter ended July 31, 2021. The company's HSA count grew by 11% year-over-year, reaching 6.0 million, and total HSA assets increased by 27% to $15.5 billion. The company reported a net loss of $3.8 million, or $0.05 per diluted share, and non-GAAP net income of $33.4 million, or $0.40 per diluted share.

• Revenue increased by 7% to $189.1 million compared to Q2 FY21.
• Net loss was $3.8 million, while non-GAAP net income reached $33.4 million.
• Total HSAs grew by 11% to 6.0 million compared to the previous year.
• Total HSA Assets increased by 27% to $15.5 billion compared to the previous year.

Headline financials

Revenue & EPS history

For the fiscal year ending January 31, 2022, management expects revenues of $755 million to $765 million. Its outlook for net loss is between $17 million and $13 million, resulting in net loss of $0.20 to $0.15 per diluted share. Its outlook for non-GAAP net income is between $122 million and $126 million, resulting in non-GAAP net income per diluted share of $1.45 to $1.50. Management expects Adjusted EBITDA of $241 million to $247 million.