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Jan 31, 2021
HealthEquity Q4 2021 Earnings Report
HealthEquity's Q4 2021 financial results were announced, revealing a decrease in revenue but an increase in net income compared to the same quarter last year.
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
Revenue by Segment
Service Revenue
CapyFin.comCustodial Revenue
CapyFin.comInterchange Revenue
CapyFin.com 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