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Healthequity (HQY)
NASDAQ:HQY
Earnings Data
Report Date
Jun 08, 2026After Close (Confirmed)
Period Ending
2027 (Q1)Consensus EPS Forecast
1.12Last Year’s EPS
0.97Same Quarter Last Year
Strong Buy
Based on 13 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong operating leverage, significant margin expansion, record sales, higher assets, robust cash generation, and proactive hedging—while acknowledging early-stage initiatives (marketplace, ACA retail cohort) and structural underutilization of HSAs that create both risk and opportunity. Management raised guidance for fiscal 2027 and highlighted AI, security gains, and policy tailwinds as durable growth drivers. The positive financial momentum and multiple strategic initiatives outweigh the near-term execution and market uncertainties.Company Guidance
Record HSA Sales and Account Growth
Added a record 550,000 HSAs in Q4 and more than 1,000,000 new HSAs from sales for the full fiscal year; total accounts reached 17,800,000.
HSA Assets and Asset Growth
Total HSA assets exceeded $36,000,000,000, up 14% year-over-year, with asset growth outpacing account growth reflecting higher balances per member.
Revenue Growth and Raised Guidance
Q4 revenue grew 7% year-over-year to $334.6M; fiscal 2026 revenue was $1,313.0M (up 9.5% YoY). Company raised fiscal 2027 guidance to $1,405M–$1,415M.
Margin Expansion and Profitability Gains
Q4 adjusted EBITDA rose 23% to $132.9M and adjusted EBITDA margin expanded over 500 basis points to 40%. Fiscal 2026 adjusted EBITDA was $566.0M (up 20%) with a 43% adjusted EBITDA margin for the year.
Strong GAAP and Non-GAAP Earnings Improvement
Q4 net income was $49.7M (up ~90% YoY) and non-GAAP net income increased 33% to $81.8M; non-GAAP diluted EPS grew 38% to $0.95.
Improved Gross Margin and Lower Service Costs
Gross profit was $228.1M with a 68% gross margin in Q4 (up from 61%, +700 basis points). Service costs declined by $17.0M YoY in Q4, driven by reduced fraud costs and efficiency gains.
Security & Fraud Performance
Q4 fraud reimbursements were approximately $300,000, putting an exit run rate of ~0.1 basis points for the quarter; full-year fraud cost reduced to ~1.1 basis points—well below the 1 bps annual target.
Rising Investor Adoption and Digital Engagement
HSA investors grew 10% YoY and invested assets now represent over 50% of total HSA assets; mobile app downloads surpassed 3,600,000, supporting digital engagement and automation efforts.
Capital Returns and Strong Cash Generation
Returned over $300,000,000 to shareholders via buybacks in fiscal 2026 (approximately $82M repurchased in Q4), reduced diluted shares by ~3%; generated $457,000,000 cash from operations and ended Q4 with $319,000,000 in cash.
Interest Rate Hedging and Yield Expectations
Established forward contracts on U.S. Treasuries with ~$2,400,000,000 notional at a blended rate lock of 3.92% to de-risk HSA cash deployments; Q4 annualized yield on HSA cash was 3.57% and company expects ~3.8% average yield for fiscal 2027.
Marketplace Launch and Early Adoption
Launched a marketplace in Q4 focused on weight-loss programs (GLP-1), hormone replacement therapy, and wearables; early adoption and retention among participants are encouraging though revenues are currently limited and not a material part of FY27 guidance.
Policy Tailwind — ACA Bronze Expansion
Legislative change (Working Families Tax Cut Act) expanded HSA eligibility to ACA bronze plan enrollees, representing an estimated ~10% expansion of the addressable market; early inflows began in January and company sees long-term distribution opportunity.
HQY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
HQY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 17, 2026 | $79.40 | $79.57 | +0.21% |
Dec 03, 2025 | $98.64 | $95.67 | -3.01% |
Sep 02, 2025 | $88.85 | $95.54 | +7.53% |
Jun 03, 2025 | $103.76 | $113.06 | +8.96% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Healthequity (HQY) report earnings?
Healthequity (HQY) is schdueled to report earning on Jun 08, 2026, After Close (Confirmed).
What is Healthequity (HQY) earnings time?
Healthequity (HQY) earnings time is at Jun 08, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HQY EPS forecast?
HQY EPS forecast for the fiscal quarter 2027 (Q1) is 1.12.