Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  HealthEquity, Inc.    HQY

HEALTHEQUITY, INC.

(HQY)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

HealthEquity Announces: Partner Growth, Year-End Sales Outlook, Presentation at JP Morgan Healthcare Conference

share with twitter share with LinkedIn share with facebook
share via e-mail
01/13/2020 | 09:01am EDT

DRAPER, Utah, Jan. 13, 2020 (GLOBE NEWSWIRE) -- HealthEquity, Inc. (NASDAQ: HQY) (“HealthEquity” or the “Company”), the nation’s largest independent health savings account (“HSA") custodian, today announced significant growth in its health plan / administrator network partners and employers served. HealthEquity also announced it will provide final sales results for its fiscal year 2020, on February 18, 2020, while providing estimates of HSA members, HSA assets and Total Accounts for its fiscal year ending on January 31, 2020. The Company also provided yield expectations on HSA cash assets for fiscal year 2021.

  • The number of HealthEquity network partners reached 164, up from 141 last year.
  • The number of employer clients served by HealthEquity increased to approximately 100,000 up from approximately 45,000 last year.
  • Estimated HSA members are expected to grow to approximately 5.3 million by January 31, 2020, up from 4.0 million a year earlier.
  • HSA assets are expected to grow to approximately $11.6 billion, up from $8.1 billion a year earlier.
  • HSA cash assets on the HealthEquity platform are expected to grow to approximately $7.4 billion by January 31, 2020, up from $6.4 billion a year earlier.
  • HSA cash assets with legacy WageWorks banking partners will be approximately $1.4 billion by fiscal year-end 2020.
  • HSA invested assets are expected to be about $2.8 billion, excluding the potential impact from market volatility for the remainder of the month of January 2020.
  • HealthEquity estimates it will close fiscal year 2020 with approximately 12.8 million Total Accounts.
  • The Company estimates yields on HSA cash assets on the HealthEquity platform will be approximately 2.40% for fiscal year 2021 based upon current indications provided by its bank deposit partners.

HealthEquity will discuss these results and estimates during its presentation at the 38th Annual JP Morgan Healthcare Conference on Wednesday, January 15, 2020, at the Westin St. Francis hotel in San Francisco. Jon Kessler, President and Chief Executive Officer, and Darcy Mott, Executive Vice President and Chief Financial Officer, will discuss HealthEquity in a presentation scheduled to begin at 9:30 AM Pacific Time and will be available for one-on-one meetings throughout the conference.

A live audio webcast of the presentation along with a copy of the presentation slides will be available and archived on HealthEquity’s investor relations website at http://ir.healthequity.com.

About HealthEquity
HealthEquity administers Health Savings Accounts (HSAs) and other consumer-directed benefits for our more than 12 million accounts in partnership with employers, benefits advisors, and health and retirement plan providers who share our mission to connect health and wealth and value our culture of remarkable “Purple” service. For more information, visit www.healthequity.com.

Forward-looking statements

This press release contains “forward-looking statements" within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our industry, business strategy, plans, goals and expectations concerning our markets and market position, product expansion, future operations, expenses and other results of operations, revenue, margins, profitability, future efficiencies, tax rates, capital expenditures, liquidity and capital resources and other financial and operating information. When used in this discussion, the words “may,” “believes,” “intends,” “seeks,” “anticipates,” “plans,” “estimates,” “expects,” “should,” “assumes,” “continues,” “could,” “will,” “future” and the negative of these or similar terms and phrases are intended to identify forward-looking statements in this press release.

Forward-looking statements reflect our current expectations regarding future events, results or outcomes. These expectations may or may not be realized. Although we believe the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to be correct. Some of these expectations may be based upon assumptions, data or judgments that prove to be incorrect. Actual events, results and outcomes may differ materially from our expectations due to a variety of known and unknown risks, uncertainties and other factors. Although it is not possible to identify all of these risks and factors, they include, among others, risks related to the following:

  • our ability to realize the anticipated financial and other benefits from combining the operations of WageWorks with our business in an efficient and effective manner;
  • our ability to compete effectively in a rapidly evolving healthcare and benefits administration industry;
  • our dependence on the continued availability and benefits of tax-advantaged health savings accounts;
  • our ability to successfully identify, acquire and integrate additional portfolio purchases or acquisition targets;
  • the significant competition we face and may face in the future, including from those with greater resources than us;
  • our reliance on the availability and performance of our technology and communications systems;
  • recent and potential future cybersecurity breaches of our technology and communications systems and other data interruptions, including resulting costs and liabilities, reputational damage and loss of business;
  • the current uncertain healthcare environment, including changes in healthcare programs and expenditures and related regulations;
  • our ability to comply with current and future privacy, healthcare, tax, investment advisor and other laws applicable to our business;
  • our reliance on partners and third-party vendors for distribution and important services;
  • our ability to develop and implement updated features for our technology and communications systems and successfully manage our growth;
  • our ability to protect our brand and other intellectual property rights; and
  • our reliance on our management team and key team members.

For a detailed discussion of these and other risk factors, please refer to the risks detailed in our filings with the Securities and Exchange Commission, including, without limitation, our most recent Annual Report on Form 10-K and subsequent periodic and current reports. Past performance is not necessarily indicative of future results. We undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

Investor Relations Contact:
Richard Putnam
801-727-1209
rputnam@healthequity.com

Primary Logo


© GlobeNewswire 2020
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on HEALTHEQUITY, INC.
03/17Regeneron, Coupa rise; AMC Entertainment, HealthEquity fall
AQ
03/16HEALTHEQUITY : Fiscal 4Q Earnings Snapshot
AQ
03/16HEALTHEQUITY, INC. : Results of Operations and Financial Condition, Financial St..
AQ
03/16HealthEquity Reports Fourth Quarter and Fiscal Year Ended January 31, 2020 Fi..
GL
03/11HEALTHEQUITY, INC. : annual earnings release
03/02HealthEquity Sets Date to Announce Year-end Results
GL
02/18HEALTHEQUITY, INC. : Results of Operations and Financial Condition (form 8-K)
AQ
02/18HealthEquity Reports Year-End Sales Metrics
GL
02/13HEALTHEQUITY, INC. : annual sales release
02/04HealthEquity Announces Date of Year-End Sales Conference Call, Presentation a..
GL
More news
Financials (USD)
Sales 2020 531 M
EBIT 2020 62,1 M
Net income 2020 37,9 M
Debt 2020 945 M
Yield 2020 -
P/E ratio 2020 94,7x
P/E ratio 2021 20 847x
EV / Sales2020 8,73x
EV / Sales2021 5,85x
Capitalization 3 688 M
Chart HEALTHEQUITY, INC.
Duration : Period :
HealthEquity, Inc. Technical Analysis Chart | HQY | US42226A1079 | MarketScreener
Technical analysis trends HEALTHEQUITY, INC.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 12
Average target price 62,17  $
Last Close Price 51,91  $
Spread / Highest target 73,4%
Spread / Average Target 19,8%
Spread / Lowest Target -19,1%
EPS Revisions
Managers
NameTitle
Jon Kessler President, Chief Executive Officer & Director
Robert W. Selander Non-Executive Chairman
Ted Bloomberg Chief Operating Officer & Executive VP
Darcy G. Mott Chief Financial Officer & Executive VP
Ashley Dreier Chief Information & Technology Officer, EVP
Sector and Competitors
1st jan.Capitalization (M$)
HEALTHEQUITY, INC.-29.92%3 688
MICROSOFT CORPORATION-5.07%1 138 625
ZOOM VIDEO COMMUNICATIONS, INC.122.96%42 325
ATLASSIAN CORPORATION PLC18.21%34 912
SEA LIMITED9.22%20 350
SPLUNK INC.-16.70%19 789