Healthequity Inc
F:2HE
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Healthequity Inc
F:2HE
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Yuanta Financial Holding Co Ltd
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Healthequity Inc
Healthequity helps employers and their workers manage health savings accounts and other tax-advantaged healthcare spending accounts. It provides the account administration, recordkeeping, debit cards, online tools, and payment processing that let people save for medical expenses and pay eligible bills. It also offers ways to invest balances once they grow large enough, usually through partner investment platforms. Its main customers are employers, health plans, benefits brokers, and individual account holders who need a simple way to manage healthcare money. Employers and benefits partners use Healthequity’s system to offer these accounts as part of employee benefits, while workers use it to pay for care, track claims, and invest unused funds. The company makes money mainly from administration and service fees, plus asset-based and transaction-related fees tied to account activity. What makes Healthequity different is its role as the financial backbone for consumer-directed healthcare accounts. It sits between the employer, the employee, the health plan, and the payment network, making a complicated set of tax and payment rules easier to use. In simple terms, it sells the infrastructure that keeps these accounts compliant, usable, and connected to everyday healthcare spending.
Healthequity helps employers and their workers manage health savings accounts and other tax-advantaged healthcare spending accounts. It provides the account administration, recordkeeping, debit cards, online tools, and payment processing that let people save for medical expenses and pay eligible bills. It also offers ways to invest balances once they grow large enough, usually through partner investment platforms.
Its main customers are employers, health plans, benefits brokers, and individual account holders who need a simple way to manage healthcare money. Employers and benefits partners use Healthequity’s system to offer these accounts as part of employee benefits, while workers use it to pay for care, track claims, and invest unused funds. The company makes money mainly from administration and service fees, plus asset-based and transaction-related fees tied to account activity.
What makes Healthequity different is its role as the financial backbone for consumer-directed healthcare accounts. It sits between the employer, the employee, the health plan, and the payment network, making a complicated set of tax and payment rules easier to use. In simple terms, it sells the infrastructure that keeps these accounts compliant, usable, and connected to everyday healthcare spending.
Revenue & Profit: Q4 revenue was $334.6 million (up 7% YoY); Q4 GAAP net income was $49.7 million ($0.58 per share), and fiscal 2026 net income was $215.2 million ($2.46 per share).
Margins: Q4 gross margin expanded to 68% (up ~700 bps YoY) and adjusted EBITDA margin widened to 40% in Q4; fiscal 2026 adjusted EBITDA margin was 43%.
HSA Growth: Added a record 550,000 HSAs in Q4 and more than 1 million for the year, bringing total accounts to 17.8 million and HSA assets to more than $36 billion (up 14% YoY).
Operational wins: Fraud reimbursements were approximately $0.3 million in Q4 (exit run rate 0.1 basis points for the quarter); fiscal-year fraud cost ~1.1 basis points. Service costs fell ~$17 million YoY in Q4.
Product & AI: Launched a marketplace (initial offerings: weight loss/GLP-1 programs, hormone replacement therapy, wearables) and are embedding AI across member experience, operations and personalization to drive engagement and lower cost to serve.
Balance sheet & capital return: Ended the quarter with $319 million cash, generated $457 million cash from operations in fiscal 2026, repurchased >$300 million of stock in the year (about $82 million in Q4) and have ~$178 million remaining on the repurchase authorization.
Raised outlook: Fiscal 2027 revenue guidance raised to $1.405–$1.415 billion; GAAP net income guidance raised to $239–$246 million ($2.78–$2.85 per share).
