Business
HealthEquity Reports Third Quarter Ended October 31, 2021 Financial Results
Highlights of the third quarter include: Revenue of $180.0 million, an increase of less than one percent compared to $179.4 million in Q3 FY21.Net loss of
About this update from Healthequity, Inc.
[{"type":"text","content":"Highlights of the third quarter include: Revenue of $180.0 million, an increase of less than one percent compared to $179.4 million in Q3 FY21.Net loss of $5.0 million, compared to net income of $1.8 million in Q3 FY21, with non-GAAP net income of $28.9 million, a decrease of 10% compared to $32.2 million in Q3 FY21.Net loss per diluted share of $0.06, compared to net income per diluted share of $0.02 in Q3 FY21, with non-GAAP net income per diluted share of $0.35, compared to $0.41 in Q3 FY21.Adjusted EBITDA of $61.1 million, the same as in Q3 FY21.6.2 million HSAs, an increase of 14% compared to Q3 FY21.Total HSA Assets of $16.4 billion, an increase of 32% compared to Q3 FY21.13.3 million Total Accounts, including both HSAs and complementary CDB accounts, an increase of 6% compared to Q3 FY21.The Company closed its acquisition of the Fifth Third Bank HSA portfolio on September 29, 2021 and its acquisition of Further on November 1, 2021.The Company issued $600 million aggregate principal amount of 4.50% Senior Notes due 2029 and refinanced its credit facility. DRAPER, Utah, Dec. 06, 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 third quarter ended October 31, 2021. \"The HealthEquity team delivered another strong quarter of HSA growth, with new HSA sales of 151,000 in the third quarter and 446,000 in the year to date,\" said Jon Kessler, President and CEO of HealthEquity. \"Adding to this year’s strong organic growth, we have on-boarded 160,000 new HSAs from Fifth Third Bank in the third quarter and 580,000 from Further in November to start our fourth quarter. HSA members have added nearly another $1 billion to their HSAs this quarter, and their HSA investments have grown significantly. We believe we are poised for a strong finish to this year’s selling season, continuing to outpace market growth.\" Third quarter financial results Revenue for the third quarter ended October 31, 2021 was $180.0 million, an increase of less than one percent compared to $179.4 million for the third quarter ended October 31, 2020. Revenue this quarter included: service revenue of $102.7 million, custodial revenue of $49.0 million, and interchange revenue of $28.2 million. HealthEquity...