DRAPER, Utah - HealthEquity Inc. (NASDAQ:HQY) reported third-quarter earnings that beat analyst expectations, but shares fell nearly 4% in after-hours trading Monday.
The health savings account provider posted adjusted earnings of $0.78 per share for the quarter ended October 31, surpassing the consensus estimate of $0.72. Revenue rose 21% YoY to $300.4 million, also topping expectations of $289.92 million.
"Strong third quarter results delivered by Team Purple helped drive HSAs to 9.5 million, HSA Assets to $30 billion, Total (EPA:TTEF) Accounts to 16.5 million and quarterly revenue to over $300 million, all quarterly records," said Jon Kessler, President and CEO of HealthEquity.
The company reported 9.5 million health savings accounts as of October 31, up 15% from a year earlier. Total HSA assets grew 33% YoY to $30 billion.
For fiscal 2025, HealthEquity forecasts revenue of $1.185 billion to $1.195 billion and adjusted earnings of $3.08 to $3.16 per share.
The company also provided an initial outlook for fiscal 2026, projecting revenue of $1.275 billion to $1.295 billion.
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