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HealthEquity Reports First Quarter Ended April 30, 2025 Financial Results
Highlights of the first quarter include: Revenue of $330.8 million, an increase of 15% compared to $287.6 million in Q1 FY25.Net income of $53.9 million, an
About this update from Healthequity, Inc.
[{"type":"text","content":"Highlights of the first quarter include: Revenue of $330.8 million, an increase of 15% compared to $287.6 million in Q1 FY25.Net income of $53.9 million, an increase of 87% compared to $28.8 million in Q1 FY25, with non-GAAP net income of $85.8 million, an increase of 22% compared to $70.3 million in Q1 FY25.Net income per diluted share of $0.61, an increase of 85% compared to $0.33 in Q1 FY25, with non-GAAP net income per diluted share of $0.97, an increase of 21% compared to $0.80 in Q1 FY25.Adjusted EBITDA of $140.2 million, an increase of 19% compared to $117.4 million in Q1 FY25.9.9 million HSAs, an increase of 9% compared to Q1 FY25.Total HSA Assets of $31.3 billion, an increase of 15% compared to Q1 FY25.17.1 million Total Accounts, including both HSAs and complementary CDBs, an increase of 7% compared to Q1 FY25.The Company repurchased 0.7 million shares of its common stock for $60.3 million. DRAPER, Utah, June 03, 2025 (GLOBE NEWSWIRE) -- HealthEquity, Inc. (NASDAQ: HQY) (\"HealthEquity\" or the \"Company\"), the nation's largest health savings account (\"HSA\") custodian by number of accounts, today announced financial results for its first quarter ended April 30, 2025. \"The HealthEquity team started fiscal 2026 with a strong first quarter that included record quarterly revenue, record Adjusted EBITDA, and increased guidance for the year,” said Scott Cutler, President and CEO of HealthEquity. “We enhanced our member-first secure mobile experience to strengthen the security of our members’ $31 billion of HSA Assets, increase member resources, and reduce costs. We also applaud and support the efforts of our nation’s leaders to improve and empower healthcare consumers by expanding the benefits of HSAs, as well as extending eligibility to more American families.\" First quarter financial results Revenue for the first quarter ended April 30, 2025 was $330.8 million, an increase of 15% compared to $287.6 million for the first quarter ended April 30, 2024. Revenue this quarter included: service revenue of $119.8 million, custodial revenue of $156.5 million, and interchange revenue of $54.6 million. HealthEquity reported net income of $53.9 million, or $0.61 per diluted share, and non-GAAP net income of $85.8 million, or $0.97 per diluted share, for the first quarter ended April 30, 2025. The Company reported net income of $2...