HealthEquity Q4 2021 Earnings Report
Key Takeaways
HealthEquity reported a decrease in revenue by 6% to $188.2 million, but net income increased to $5.4 million. The company's non-GAAP net income was $33.3 million, and it saw growth in HSAs with investments, which increased by 51% year over year.
Revenue decreased by 6% compared to Q4 FY20.
Net income increased compared to a net loss in Q4 FY20.
Non-GAAP net income increased compared to Q4 FY20.
HSAs with investments grew by 51% year over year.
HealthEquity
HealthEquity
HealthEquity Revenue by Segment
Forward Guidance
For the fiscal year ending January 31, 2022, HealthEquity expects revenues of $750 million to $760 million, a net loss between $10 million and $5 million, non-GAAP net income between $115 million and $119 million, and Adjusted EBITDA of $240 million to $246 million.
Positive Outlook
- Revenue is expected to be between $750 million and $760 million.
- Adjusted EBITDA is expected to be between $240 million and $246 million.
- The outlook for non-GAAP net income is between $115 million and $119 million.
- Non-GAAP net income per diluted share of $1.37 to $1.42 (based on an estimated 84 million weighted-average shares outstanding).
- Company expects Adjusted EBITDA of $240 million to $246 million.
Challenges Ahead
- Net loss is expected to be between $10 million and $5 million.
- Net loss of $0.12 to $0.07 per diluted share.
- Significant competition in a rapidly evolving healthcare and benefits administration industry.
- Reliance on the continued availability and benefits of tax-advantaged health savings accounts and other consumer-directed benefits.
- Uncertain healthcare environment, including changes in healthcare programs and expenditures and related regulations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income