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Oct 31, 2023
HealthEquity Q3 2024 Earnings Report
HealthEquity's Q3 2024 performance demonstrated double-digit revenue growth and margin expansion.
Key Takeaways
HealthEquity reported a 15% increase in revenue to $249.2 million, a net income of $14.7 million, and non-GAAP net income of $52.2 million. The company's HSA count grew to 8.3 million, with total HSA assets reaching $22.6 billion. They also agreed to acquire the BenefitWallet HSA portfolio.
Revenue increased by 15% year-over-year, reaching $249.2 million.
Net income was $14.7 million, a significant improvement compared to the previous year's net loss of $1.6 million.
Non-GAAP net income increased by 61% year-over-year, reaching $52.2 million.
The company's HSA base grew to 8.3 million, representing an 8% increase year-over-year.
Revenue by Segment
Forward Guidance
For the fiscal year ending January 31, 2024, management expects revenue of $985 million to $995 million. Its outlook for net income is between $34 million and $39 million, resulting in net income of $0.39 to $0.45 per diluted share. Its outlook for non-GAAP net income is between $181 million and $188 million, resulting in non-GAAP net income per diluted share of $2.08 to $2.16. Management expects Adjusted EBITDA of $350 million to $360 million.
Positive Outlook
- Revenue is expected to be between $985 million and $995 million.
- Net income is projected to be between $34 million and $39 million.
- Non-GAAP net income is anticipated to be between $181 million and $188 million.
- Non-GAAP net income per diluted share is expected to be $2.08 to $2.16.
- Adjusted EBITDA is forecasted to be between $350 million and $360 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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