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Jan 31, 2023
HealthEquity Q4 2023 Earnings Report
HealthEquity reported Q4 2023 financial results, with record revenue and adjusted EBITDA.
Key Takeaways
HealthEquity reported a 15% increase in revenue to $233.8 million for the fourth quarter ended January 31, 2023. The company's net loss was $0.2 million, with non-GAAP net income of $31.3 million, or $0.37 per diluted share. Adjusted EBITDA increased by 46% to $73.6 million.
Revenue increased by 15% compared to Q4 FY22, reaching $233.8 million.
Net loss was $0.2 million, a significant improvement from the $32.8 million loss in Q4 FY22.
Non-GAAP net income was $31.3 million, compared to $17.0 million in Q4 FY22.
Adjusted EBITDA grew by 46% to $73.6 million compared to the prior 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, 2024, management expects revenues of $960 million to $975 million. Its outlook for net income is between $0 and $11 million, resulting in net income of $0.00 to $0.13 per diluted share. Its outlook for non-GAAP net income is between $152 million and $163 million, resulting in non-GAAP net income per diluted share of $1.74 to $1.87. Management expects Adjusted EBITDA of $320 million to $335 million.
Positive Outlook
- Revenue is expected to be between $960 million and $975 million.
- Net income is projected to be between $0 and $11 million.
- Non-GAAP net income is anticipated to be between $152 million and $163 million.
- Non-GAAP net income per diluted share is expected to be $1.74 to $1.87.
- Adjusted EBITDA is projected to be $320 million to $335 million.