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HealthEquity Reports Fiscal Year and Fourth Quarter Ended January 31, 2023 Financial Results
Highlights of the fiscal year include: Revenue of $861.7 million, an increase of 14% compared to $756.6 million in FY22.Net loss of $26.1 million, compared to
About this update from Healthequity, Inc.
[{"type":"text","content":"Highlights of the fiscal year include: Revenue of $861.7 million, an increase of 14% compared to $756.6 million in FY22.Net loss of $26.1 million, compared to $44.3 million in FY22, with non-GAAP net income of $114.5 million, compared to $110.2 million in FY22.Net loss per diluted share of $0.31, compared to $0.53 in FY22, with non-GAAP net income per diluted share of $1.36, compared to $1.33 in FY22.Adjusted EBITDA of $272.3 million, an increase of 15% compared to $236.0 million in FY22.8.0 million HSAs, an increase of 11% compared to FY22.Total HSA Assets of $22.1 billion, an increase of 13% compared to FY22.14.9 million Total Accounts, including both HSAs and complementary CDBs, an increase of 4% compared to FY22. Highlights of the fourth quarter include: Revenue of $233.8 million, an increase of 15% compared to $203.3 million in Q4 FY22.Net loss of $0.2 million, compared to $32.8 million in Q4 FY22, with non-GAAP net income of $31.3 million, compared to $17.0 million in Q4 FY22.Net loss per diluted share of less than one cent, compared to $0.39 in Q4 FY22, with non-GAAP net income per diluted share of $0.37, compared to $0.20 in Q4 FY22.Adjusted EBITDA of $73.6 million, an increase of 46% compared to $50.4 million in Q4 FY22. DRAPER, Utah, March 21, 2023 (GLOBE NEWSWIRE) -- HealthEquity, Inc. (NASDAQ: HQY) (“HealthEquity” or the “Company”), the nation’s largest health savings account (“HSA”) custodian, today announced financial results for its fourth quarter and fiscal year ended January 31, 2023. “Team Purple closed out fiscal 2023 in record fashion with its best year of new HSAs from sales, its highest ever HSAs, HSA Assets, and Total Accounts, and record revenue and Adjusted EBITDA,” said Jon Kessler, HealthEquity President and CEO. “In fiscal 2023, HealthEquity became the largest HSA custodian measured by both accounts and HSA Assets. In fiscal 2024, we believe we are strongly positioned to continue to outpace overall market growth, substantially improve profit margins, and execute on our vision to help our members more fully connect health and wealth.” Fiscal year financial results Revenue for the fiscal year ended January 31, 2023 was $861.7 million, an increase of 14% compared to $756.6 million for the fiscal year ended January 31, 2022. Revenue this year included: service revenue of $430.2 million, custodial revenue ...