Business
HealthEquity Reports Fourth Quarter and Fiscal Year Ended January 31, 2020 Financial Results
Highlights of the fiscal year include: Revenue of $532.0 million, an increase of 85% compared to $287.2 million in FY19.Net income of $39.7 million, compared
About this update from Healthequity, Inc.
[{"type":"text","content":"Highlights of the fiscal year include:\n Revenue of $532.0 million, an increase of 85% compared to $287.2 million in FY19.Net income of $39.7 million, compared to $73.9 million in FY19, with non-GAAP net income of $118.4 million, compared to $81.8 million in FY19.Net income per diluted share of $0.58, compared to $1.17 in FY19, with non-GAAP net income per diluted share of $1.73, compared to $1.29 in FY19.Adjusted EBITDA of $196.5 million, compared to $118.4 million in FY19.5.3 million HSAs, an increase of 34% compared to FY19.$11.5 billion Total HSA Assets, an increase of 43% compared to FY19.12.8 million Total Accounts, including both HSAs and complementary consumer-directed benefit (\"CDB\") accounts.The WageWorks acquisition closed on August 30, 2019. Highlights of the fourth quarter include: Revenue of $201.2 million, an increase of 166% compared to $75.8 million in Q4 FY19.Net loss of $0.2 million, compared to net income of $13.1 million in Q4 FY19, with non-GAAP net income of $27.9 million, compared to $18.9 million in Q4 FY19.Net loss per diluted share of less than one-half of one cent, compared to net income per diluted share of $0.21 in Q4 FY19, with non-GAAP net income per diluted share of $0.39, compared to $0.30 in Q4 FY19.Adjusted EBITDA of $61.3 million, compared to $27.3 million in Q4 FY19. DRAPER, Utah, March 16, 2020 (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 fourth quarter and fiscal year ended January 31, 2020. “The HealthEquity team delivered a strong fourth quarter to cap another record-setting year of growth in fiscal 2020, while also accelerating the WageWorks integration. Revenue for the full year increased 85% to $532 million, while driving Adjusted EBITDA growth 66% to $196 million – both record highs,” said Jon Kessler, President and CEO of HealthEquity. “More importantly, we have entered fiscal year 2021 with momentum in HSA growth, taking a larger share of the market than ever before.” Fiscal year financial results Revenue for the fiscal year ended January 31, 2020 of $532.0 million grew 85% compared to $287.2 million for the fiscal year ended January 31, 2019, and 21% excluding the impact of the WageWorks acquisition and related realize...