Business
HealthEquity Reports Third Quarter Ended October 31, 2025 Financial Results
Highlights of the third quarter include: Revenue increased 7% to $322.2 million.Net income per diluted share rose to $0.59 from $0.06 one year ago, and
About this update from Healthequity, Inc.
[{"type":"text","content":"Highlights of the third quarter include: Revenue increased 7% to $322.2 million.Net income per diluted share rose to $0.59 from $0.06 one year ago, and non-GAAP net income per diluted share increased 29% to $1.01.Total HSA Assets grew 15% to $34.4 billion.Returned $93.7 million to shareholders through stock repurchases.Further reduced HSA cash repricing risk with a cumulative $2.25 billion 5-year Treasury bond hedge at 3.94%. DRAPER, Utah, Dec. 03, 2025 (GLOBE NEWSWIRE) -- HealthEquity, Inc. (NASDAQ: HQY) (\"HealthEquity\" or the \"Company\"), a leader in administering health savings accounts (“HSAs”) and complementary consumer-directed benefits (“CDBs”), today announced financial results for its third quarter ended October 31, 2025. \"HealthEquity delivered a record third quarter for fiscal 2026, with net income of $52 million, 20% growth in Adjusted EBITDA, and 29% growth in non-GAAP net income per share, reflecting our team’s focus on helping members better save, spend and invest for health,\" said Scott Cutler, President and CEO of HealthEquity. \"Our marketplace platform is expanding access to more affordable healthcare solutions, and AI is beginning to power more personalized and efficient experiences. As we enter onboarding season, we do so with strong momentum and an enduring mission to save and improve lives by empowering healthcare consumers.\" Third quarter financial results Revenue for the third quarter ended October 31, 2025 was $322.2 million, an increase of 7% compared to $300.4 million for the third quarter ended October 31, 2024. Revenue this quarter included: service revenue of $120.3 million, custodial revenue of $159.1 million, and interchange revenue of $42.8 million. HealthEquity reported net income of $51.7 million, or $0.59 per diluted share, and non-GAAP net income of $87.7 million, or $1.01 per diluted share, for the third quarter ended October 31, 2025. The Company reported net income of $5.7 million, or $0.06 per diluted share, and non-GAAP net income of $69.4 million, or $0.78 per diluted share, for the third quarter ended October 31, 2024. Adjusted EBITDA was $141.8 million for the third quarter ended October 31, 2025, an increase of 20% compared to the third quarter ended October 31, 2024. Adjusted EBITDA was 44% of revenue, compared to 39% for the third quarter ended October 31, 2024. Account and ...