By Dean Seal
HealthEquity boosted its guidance after notching a record start to the fiscal year for revenue and stronger profitability.
The custodian for health-savings accounts, or HSAs, said after the bell on Tuesday that the tally of HSAs it manages rose 9% year-over-year in the fiscal first quarter, and that the total amount held by those accounts jumped 15% to $31.3 billion.
The Draper, Utah, company said it now expects adjusted earnings of $3.61 to $3.78 per share for the full fiscal year, posting 4 cents to each end of its previous guidance range. Annual revenue is now expected to be $1.29 billion to $1.31 billion, adding $100 million to the low-end of its prior outlook.
For the quarter ended April 30, HealthEquity posted a profit of $53.9 million, or 61 cents a share, compared with $28.8 million, or 33 cents a share, in the same quarter a year earlier.
Stripping out one-time items, adjusted earnings were 97 cents a share. Analysts surveyed by FactSet had been expecting 81 cents a share.
Revenue climbed 15% to $330.8 million, topping analyst estimates for $322.3 million, according to FactSet.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
June 03, 2025 16:31 ET (20:31 GMT)
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