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Oct 31, 2022
HealthEquity Q3 2023 Earnings Report
HealthEquity's financial performance for Q3 2023, marked by revenue growth and a narrower net loss.
Key Takeaways
HealthEquity reported a 20% increase in revenue to $216.1 million, a reduced net loss of $1.6 million, and a 20% increase in Adjusted EBITDA to $73.4 million. The company also saw growth in HSAs, total HSA assets, and total accounts.
Revenue increased by 20% to $216.1 million compared to Q3 FY22.
Net loss decreased to $1.6 million, compared to $5.0 million in Q3 FY22.
Adjusted EBITDA increased by 20% to $73.4 million compared to Q3 FY22.
Total HSAs grew by 23% to 7.7 million compared to Q3 FY22.
Revenue by Segment
Forward Guidance
For the fiscal year ending January 31, 2023, management expects revenue of $850 million to $860 million, a net loss between $34 million and $27 million, non-GAAP net income between $106 million and $114 million, and Adjusted EBITDA of $261 million to $271 million. For the fiscal year ending January 31, 2024, management expects revenue of approximately $950 million to $970 million and Adjusted EBITDA of approximately 33-34% of revenue.
Positive Outlook
- Revenue of $850 million to $860 million is expected for the fiscal year ending January 31, 2023.
- Net loss is projected to be between $34 million and $27 million for FY23.
- Non-GAAP net income is anticipated to be between $106 million and $114 million for FY23.
- Adjusted EBITDA is expected to range from $261 million to $271 million for FY23.
- Revenue of approximately $950 million to $970 million is expected for the fiscal year ending January 31, 2024.
Challenges Ahead
- Net loss is still expected for the fiscal year ending January 31, 2023.
- The outlook for net loss is between $34 million and $27 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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