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Jan 31, 2020
HealthEquity Q4 2020 Earnings Report
HealthEquity demonstrated strong growth and completed the WageWorks acquisition.
Key Takeaways
HealthEquity reported a revenue of $201.2 million, a 166% increase compared to Q4 FY19. The company reported a net loss of $0.2 million, and non-GAAP net income of $27.9 million. Total HSAs exceeded 5.3 million, an increase of 34% year over year.
Revenue increased by 166% to $201.2 million compared to Q4 FY19.
Net loss was $0.2 million, compared to net income of $13.1 million in Q4 FY19.
Non-GAAP net income was $27.9 million, compared to $18.9 million in Q4 FY19.
Adjusted EBITDA increased by 125% to $61.3 million compared to $27.3 million in Q4 FY19.
HealthEquity
HealthEquity
HealthEquity Revenue by Segment
Revenue by Segment
Service Revenue
CapyFin.comCustodial Revenue
CapyFin.comInterchange Revenue
CapyFin.com Forward Guidance
For the fiscal year ending January 31, 2021, HealthEquity expects revenue between $770 million and $790 million. Net loss is projected in the range of $14 million to $4 million, with an adjusted EBITDA outlook between $245 million and $255 million.
Positive Outlook
- Revenue to be between $770 million and $790 million.
- Adjusted EBITDA outlook is a range of $245 million to $255 million.
- Non-GAAP net income between $124 million and $132 million.
- Non-GAAP net income per diluted share range between $1.70 and $1.81.
- Momentum in HSA growth, taking a larger share of the market than ever before.
Challenges Ahead
- Net loss is projected in the range of $14 million to $4 million.
- Net loss per diluted share range of $0.19 to $0.05.
- Uncertain healthcare environment.
- Potential future cybersecurity breaches.
- Ability to realize the anticipated financial and other benefits from combining the operations of WageWorks with our business in an efficient and effective manner.
Revenue & Expenses
Visualization of income flow from segment revenue to net income