HealthEquity, Inc. reported its financial results for the three months ending April 30, 2026, revealing a total revenue of $354.6 million, a 7% increase from $330.8 million in the same period last year. The growth was driven by increases in service revenue, custodial revenue, and interchange revenue, which rose to $122.9 million, $174.3 million, and $57.4 million, respectively. The company’s net income also saw a significant rise, reaching $69.4 million, up 29% from $53.9 million in the prior year, resulting in a diluted earnings per share of $0.82 compared to $0.61.
In terms of operational metrics, HealthEquity administered 10.6 million health savings accounts (HSAs) as of April 30, 2026, an 8% increase from 9.9 million a year earlier. The total accounts, which include complementary consumer-directed benefits (CDBs), reached 17.8 million, reflecting a 4% growth. The company’s HSA assets totaled $37.1 billion, a 19% increase from $31.3 billion in the previous year, primarily due to increased market value of invested balances and net contributions from HSA members.
The company’s balance sheet showed total assets of $3.3 billion, a decrease from $3.4 billion at the end of January 2026. Current liabilities also decreased to $135.7 million from $156.9 million, while long-term liabilities remained relatively stable at $1.1 billion. HealthEquity's stockholders' equity decreased to $2.05 billion from $2.11 billion, attributed to stock repurchases totaling $123.3 million during the quarter.
Strategically, HealthEquity continues to focus on enhancing its technology and service offerings, investing in modernization projects to improve transaction processing capabilities and customer engagement. The company has also been active in its stock repurchase program, with $55.6 million remaining authorized for future repurchases. Looking ahead, HealthEquity anticipates continued growth in service and custodial revenues, driven by an increase in marketplace revenue and HSA investments, despite potential challenges from fluctuating interest rates and market conditions.
About HEALTHEQUITY, INC.
HealthEquity, Inc. is a leading provider of technology-enabled services managing health savings accounts (HSAs) and consumer-directed benefits (CDBs). The company offers tax-advantaged savings, payment processing, investment advice, and benefits administration for employers and consumers. Its proprietary cloud platform, extensive partner network, and focus on consumer experience position it as a market leader in the U.S. healthcare savings ecosystem.
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