Business
HealthEquity Reports First Quarter Ended April 30, 2021 Financial Results
Highlights of the first quarter include: Revenue of $184.2 million, a decrease of 3% compared to $190.0 million in Q1 FY21.Net loss of $2.6 million, compared
About this update from Healthequity, Inc.
[{"type":"text","content":"Highlights of the first quarter include: Revenue of $184.2 million, a decrease of 3% compared to $190.0 million in Q1 FY21.Net loss of $2.6 million, compared to net income of $1.8 million in Q1 FY21, with non-GAAP net income of $31.0 million, compared to $30.8 million in Q1 FY21.Net loss per diluted share of $0.03, compared to net income per diluted share of $0.03 in Q1 FY21, with non-GAAP net income per diluted share of $0.38, compared to $0.43 in Q1 FY21.Adjusted EBITDA of $59.0 million, a decrease of 6% compared to $63.0 million in Q1 FY21.5.8 million HSAs, an increase of 9% compared to Q1 FY21.$15.0 billion Total HSA Assets, an increase of 31% compared to Q1 FY21.12.8 million Total Accounts, including both HSAs and complementary CDB accounts, an increase of 1% compared to Q1 FY21.The Company sold 5,750,000 shares of common stock, yielding net proceeds of $456.6 million.The Company closed its acquisition of Luum on March 8, 2021.The Company entered into definitive agreements to acquire Further and to transition custodianship of the Fifth Third Bank HSA portfolio to HealthEquity. DRAPER, Utah, June 07, 2021 (GLOBE NEWSWIRE) -- HealthEquity, Inc. (NASDAQ: HQY) (\"HealthEquity\" or the \"Company\"), the nation's largest health savings account (\"HSA\") non-bank custodian, today announced financial results for its first quarter ended April 30, 2021. \"Our fiscal year 2022 is off to a fast start with early sales wins, two material acquisition agreements in our core HSA business, and the new Luum mobility benefits platform helping clients return to work,” said Jon Kessler, President and CEO of HealthEquity. “We believe our total solution is well-positioned to deliver substantial growth through the economy's reopening and recovery.\" First quarter financial results Revenue for the first quarter ended April 30, 2021 of $184.2 million decreased 3% compared to $190.0 million for the first quarter ended April 30, 2020. Revenue this quarter included: service revenue of $102.5 million, custodial revenue of $47.0 million, and interchange revenue of $34.7 million. HealthEquity reported a net loss of $2.6 million, or $0.03 per diluted share, and non-GAAP net income of $31.0 million, or $0.38 per diluted share, for the first quarter ended April 30, 2021. The Company reported net income of $1.8 million, or $0.03 per diluted share, and non-GAAP...