HealthEquity Q2 revenue beats on HSA account growth

HealthEquity

27/08/2026 13:12

Overview
U.S. HSA custodian's Q2 revenue rose 8%, slightly beating analyst expectations
Adjusted EPS for Q2 beat analyst expectations
Company repurchased $108.1 mln in stock during the quarter

Outlook
Healthequity raises fiscal 2027 revenue guidance to $1.411 bln-$1.421 bln
Company expects fiscal 2027 net income of $242 mln-$248 mln, or $2.88-$2.96 per share
Healthequity sees fiscal 2027 Adjusted EBITDA of $628 mln-$636 mln

Result Drivers
HSA ACCOUNT GROWTH - Total HSA accounts rose 8% year over year to 10.7 mln, with new HSAs from sales up 24%
HSA ASSET INCREASE - Total HSA assets grew 14% to $37.9 bln, driven by higher HSA investments and cash balances
TECHNOLOGY-ENABLED EFFICIENCY - Co said improved technology and operational efficiency contributed to results, per CEO Scott Cutler

Company press release: ID:nGNX5BCXQJ

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Slight Beat*
$350.73 mln
$349.25 mln (14 Analysts)
Q2 Adjusted EPS
Beat
$1.24
$1.19 (14 Analysts)
Q2 EPS
 
$0.78
 
Q2 Net Income
Miss
$65.64 mln
$102.009 mln (11 Analysts)
Q2 Adjusted EBITDA
Beat
$167 mln
$160.15 mln (14 Analysts)
Q2 Pretax Profit
Miss
$87.87 mln
$127.89 mln (8 Analysts)
Q2 Gross Profit
 
$257.95 mln
 
Q2 Operating Expenses
 
$159.26 mln
 
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 16 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the software peer group is "buy"
Wall Street's median 12-month price target for HealthEquity, Inc. is $115.00, about 10.1% above its August 26 closing price of $104.42
The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 17 three months ago

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)