HealthEquity, Inc. (NASDAQ: HQY) ("HealthEquity" or the "Company"), the nation's largest health savings account ("HSA") custodian, today announced financial results for its third quarter ended October 31, 2022.

"This quarter, Team Purple delivered 13% new HSA sales growth, a 67% narrower GAAP net loss, and Adjusted EBITDA growth of 20% from one year ago," said Jon Kessler, President and CEO. "Today, HealthEquity is the largest HSA provider measured by both accounts and assets, and we intend to build on that momentum by delivering a strong fourth quarter."

Third quarter financial results

Revenue for the third quarter ended October 31, 2022 was $216.1 million, an increase of 20% compared to $180.0 million for the third quarter ended October 31, 2021. Revenue this quarter included: service revenue of $108.6 million, custodial revenue of $74.6 million, and interchange revenue of $32.9 million.

HealthEquity reported a net loss of $1.6 million, or $0.02 per diluted share, and non-GAAP net income of $32.4 million, or $0.38 per diluted share, for the third quarter ended October 31, 2022. The Company reported a net loss of $5.0 million, or $0.06 per diluted share, and non-GAAP net income of $28.9 million, or $0.35 per diluted share, for the third quarter ended October 31, 2021.

Adjusted EBITDA was $73.4 million for the third quarter ended October 31, 2022, an increase of 20% compared to the third quarter ended October 31, 2021. Adjusted EBITDA was 34% of revenue for each of the third quarters ended October 31, 2022 and 2021.

Account and asset metrics

HealthEquity reported sales of 170,000 new HSAs in the third quarter ended October 31, 2022, compared to 151,000 in the third quarter ended October 31, 2021. HSAs as of October 31, 2022 were 7.7 million, an increase of 23% year over year, including 529,000 HSAs with investments, an increase of 23% year over year. Total Accounts as of October 31, 2022 were 14.5 million, including 6.8 million other consumer-directed benefits ("CDBs").

Total HSA Assets as of October 31, 2022 were $20.2 billion, an increase of 23% year over year. Total HSA Assets included $13.1 billion of HSA cash and $7.1 billion of HSA investments. Client-held funds, which are deposits held on behalf of our Clients to facilitate administration of our CDBs, and from which we generate custodial revenue, were $0.8 billion as of October 31, 2022.

Business outlook

For the fiscal year ending January 31, 2023, management expects revenue of $850 million to $860 million. Its outlook for net loss is between $34 million and $27 million, resulting in net loss of $0.40 to $0.32 per diluted share. Its outlook for non-GAAP net income, calculated using the method described below, is between $106 million and $114 million, resulting in non-GAAP net income per diluted share of $1.26 to $1.35 (based on an estimated 84 million diluted weighted-average shares outstanding). Management expects Adjusted EBITDA of $261 million to $271 million.

For the fiscal year ending January 31, 2024, management expects revenue of approximately $950 million to $970 million and Adjusted EBITDA of approximately 33-34% of revenue. These amounts assume an average annualized yield on HSA cash of approximately 2.25%.

See “Non-GAAP financial information” below for definitions of our Adjusted EBITDA and non-GAAP net income. A reconciliation of the non-GAAP financial measures used throughout this release (other than with respect to our Adjusted EBITDA outlook for the fiscal year ending January 31, 2024) to the most comparable GAAP financial measures is included with the financial tables at the end of this release. A reconciliation of our Adjusted EBITDA outlook for the fiscal year ending January 31, 2024 to net income (loss), its most directly comparable GAAP measure, is not included, because our net income (loss) outlook for this future period is not available without unreasonable efforts as we are unable to predict the ultimate outcome of certain significant items excluded from this non-GAAP measure (such as depreciation and amortization, stock-based compensation expense, and income tax provision (benefit)).

Conference call

HealthEquity management will host a conference call at 4:30 pm (Eastern Time) on Tuesday, December 6, 2022 to discuss the fiscal third quarter 2023 financial results. The conference call will be accessible by dialing 1-833-630-1956, or 1-412-317-1837 for international callers, and referencing conference ID "HealthEquity, Inc. call." A live audio webcast of the call will be available on the investor relations section of our website at http://ir.healthequity.com.

Non-GAAP financial information

To supplement our financial information presented on a GAAP basis, we disclose non-GAAP financial measures, including Adjusted EBITDA, non-GAAP net income, and non-GAAP net income per diluted share.

  • Adjusted EBITDA is adjusted earnings before interest, taxes, depreciation and amortization, amortization of acquired intangible assets, stock-based compensation expense, merger integration expenses, acquisition costs, gains and losses on equity securities, amortization of incremental costs to obtain a contract, costs associated with unused office space, and certain other non-operating items.
  • Non-GAAP net income is calculated by adding back to GAAP net income (loss) before income taxes the following items: amortization of acquired intangible assets, stock-based compensation expense, merger integration expenses, acquisition costs, gains and losses on equity securities, costs associated with unused office space, and losses on extinguishment of debt, and subtracting a non-GAAP tax provision using a normalized non-GAAP tax rate.
  • Non-GAAP net income per diluted share is calculated by dividing non-GAAP net income by diluted weighted-average shares outstanding.

Non-GAAP financial measures should be considered in addition to results prepared in accordance with GAAP and should not be considered as a substitute for, or superior to, GAAP results. We believe that these non-GAAP financial measures provide useful information to management and investors regarding certain financial and business trends relating to the Company's financial condition and results of operations. The Company cautions investors that non-GAAP financial information, by its nature, departs from GAAP; accordingly, its use can make it difficult to compare current results with results from other reporting periods and with the results of other companies. In addition, while amortization of acquired intangible assets is being excluded from non-GAAP net income, the revenue generated from those acquired intangible assets is not excluded. Whenever we use these non-GAAP financial measures, we provide a reconciliation of the applicable non-GAAP financial measure to the most closely applicable GAAP financial measure. Investors are encouraged to review the related GAAP financial measures and the reconciliation of the non-GAAP financial measures to their most directly comparable GAAP financial measure as detailed in the tables below.

About HealthEquity

HealthEquity and its subsidiaries administer HSAs and other consumer-directed benefits for our more than 14 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, acquisition synergies, 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,” “aims,” “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:

  • the impact of societal and economic changes arising out of the COVID-19 pandemic on the Company, its operations and its financial results;
  • our ability to realize the anticipated financial and other benefits from combining the operations of recent and future acquisitions with our business successfully;
  • 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 and other consumer-directed benefits;
  • 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;
  • 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, ERISA, investment adviser 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 Annual Report on Form 10-K for the fiscal year ended January 31, 2022, our Quarterly Report on Form 10-Q for the quarter ended April 30, 2022, 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 ContactRichard Putnam801-727-1209rputnam@healthequity.com

HealthEquity, Inc. and its subsidiariesCondensed consolidated balance sheets

(in thousands, except par value) October 31, 2022   January 31, 2022
  (unaudited)    
Assets      
Current assets      
Cash and cash equivalents $ 210,197   $ 225,414
Accounts receivable, net of allowance for doubtful accounts of $6,045 and $6,228 as of October 31, 2022 and January 31, 2022, respectively   87,716     87,428
Other current assets   34,247     38,495
Total current assets   332,160     351,337
Property and equipment, net   15,620     23,372
Operating lease right-of-use assets   58,536     63,613
Intangible assets, net   964,531     973,137
Goodwill   1,645,759     1,645,836
Other assets   48,151     49,807
Total assets $ 3,064,757   $ 3,107,102
Liabilities and stockholders’ equity      
Current liabilities      
Accounts payable $ 15,842   $ 27,541
Accrued compensation   35,140     47,136
Accrued liabilities   33,367     57,589
Current portion of long-term debt   15,313     8,750
Operating lease liabilities   10,713     12,171
Total current liabilities   110,375     153,187
Long-term liabilities      
Long-term debt, net   911,406     922,077
Operating lease liabilities, non-current   60,819     65,232
Other long-term liabilities   9,758     14,185
Deferred tax liability   89,281     99,846
Total long-term liabilities   1,071,264     1,101,340
Total liabilities   1,181,639     1,254,527
Commitments and contingencies      
Stockholders’ equity      
Preferred stock, $0.0001 par value, 100,000 shares authorized, no shares issued and outstanding as of October 31, 2022 and January 31, 2022, respectively      
Common stock, $0.0001 par value, 900,000 shares authorized, 84,636 and 83,780 shares issued and outstanding as of October 31, 2022 and January 31, 2022, respectively   8     8
Additional paid-in capital   1,732,985     1,676,508
Accumulated earnings   150,125     176,059
Total stockholders’ equity   1,883,118     1,852,575
Total liabilities and stockholders’ equity $ 3,064,757   $ 3,107,102

HealthEquity, Inc. and its subsidiariesCondensed consolidated statements of operations and comprehensive loss (unaudited)

  Three months ended October 31,   Nine months ended October 31,
(in thousands, except per share data)   2022       2021       2022       2021  
Revenue              
Service revenue $ 108,580     $ 102,733     $ 315,962     $ 314,449  
Custodial revenue   74,642       49,006       199,606       144,760  
Interchange revenue   32,864       28,215       112,339       94,050  
Total revenue   216,086       179,954       627,907       553,259  
Cost of revenue              
Service costs   76,493       66,217       232,281       204,183  
Custodial costs   6,812       5,734       20,543       15,567  
Interchange costs   5,923       4,683       19,240       15,102  
Total cost of revenue   89,228       76,634       272,064       234,852  
Gross profit   126,858       103,320       355,843       318,407  
Operating expenses              
Sales and marketing   17,245       12,726       49,648       42,288  
Technology and development   48,890       38,070       140,653       111,437  
General and administrative   25,131       20,004       74,795       63,503  
Amortization of acquired intangible assets   23,541       19,642       71,420       59,745  
Merger integration   6,509       13,244       23,486       38,422  
Total operating expenses   121,316       103,686       360,002       315,395  
Income (loss) from operations   5,542       (366 )     (4,159 )     3,012  
Other expense              
Interest expense   (12,165 )     (11,881 )     (34,119 )     (25,824 )
Other income (expense), net   443       3,122       174       (164 )
Total other expense   (11,722 )     (8,759 )     (33,945 )     (25,988 )
Loss before income taxes   (6,180 )     (9,125 )     (38,104 )     (22,976 )
Income tax benefit   (4,539 )     (4,087 )     (12,170 )     (11,505 )
Net loss and comprehensive loss $ (1,641 )   $ (5,038 )   $ (25,934 )   $ (11,471 )
Net loss per share:              
Basic $ (0.02 )   $ (0.06 )   $ (0.31 )   $ (0.14 )
Diluted $ (0.02 )   $ (0.06 )   $ (0.31 )   $ (0.14 )
Weighted-average number of shares used in computing net loss per share:              
Basic   84,572       83,551       84,349       82,939  
Diluted   84,572       83,551       84,349       82,939  

HealthEquity, Inc. and its subsidiariesCondensed consolidated statements of cash flows (unaudited)

  Nine months ended October 31,
(in thousands)   2022       2021  
Cash flows from operating activities:      
Net loss $ (25,934 )   $ (11,471 )
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization   120,726       98,364  
Stock-based compensation   50,310       41,700  
Amortization of debt discount and issuance costs   2,454       3,616  
Loss on extinguishment of debt         4,044  
Change in fair value of contingent consideration         (2,147 )
Other non-cash items   269       (750 )
Deferred taxes   (10,565 )     (8,765 )
Changes in operating assets and liabilities:      
Accounts receivable, net   (451 )     (10,090 )
Other assets   6,809       19,888  
Operating lease right-of-use assets   6,169       8,944  
Accrued compensation   (11,630 )     (18,098 )
Accounts payable, accrued liabilities, and other current liabilities   (33,170 )     (34,023 )
Operating lease liabilities, non-current   (5,401 )     (6,808 )
Other long-term liabilities   (4,427 )     6,034  
Net cash provided by operating activities   95,159       90,438  
Cash flows from investing activities:      
Purchases of software and capitalized software development costs   (35,306 )     (49,033 )
Purchases of property and equipment   (2,971 )     (7,284 )
Acquisition of intangible member assets   (70,574 )     (64,463 )
Acquisitions, net of cash acquired         (49,533 )
Proceeds from sale of equity securities         2,367  
Net cash used in investing activities   (108,851 )     (167,946 )
Cash flows from financing activities:      
Principal payments on long-term debt   (6,562 )     (1,003,125 )
Settlement of client-held funds obligation, net   (1,579 )     (1,565 )
Proceeds from exercise of common stock options   6,616       7,728  
Proceeds from issuance of long-term debt         950,000  
Payment of debt issuance costs         (11,846 )
Proceeds from follow-on equity offering, net of payments for offering costs         456,642  
Net cash provided by (used in) financing activities   (1,525 )     397,834  
Increase (decrease) in cash and cash equivalents   (15,217 )     320,326  
Beginning cash and cash equivalents   225,414       328,803  
Ending cash and cash equivalents $ 210,197     $ 649,129  

HealthEquity, Inc. and its subsidiariesCondensed consolidated statements of cash flows (unaudited) (continued)

  Nine months ended October 31,
(in thousands)   2022     2021  
Supplemental cash flow data:      
Interest expense paid in cash $ 36,268   $ 13,685  
Income tax payments (refunds), net   775     (5,926 )
Supplemental disclosures of non-cash investing and financing activities:      
Purchases of software and capitalized software development costs included in accounts payable, accrued liabilities, or accrued compensation   4,099     3,708  
Purchases of property and equipment included in accounts payable or accrued liabilities   297     479  
Purchases of intangible member assets included in accounts payable or accrued liabilities       2,281  
Contingent consideration recognized at acquisition       8,147  
Exercise of common stock options receivable   21     1  
Decrease in goodwill due to measurement period adjustments, net   77     19  

Stock-based compensation expense (unaudited)

Total stock-based compensation expense included in the condensed consolidated statements of operations and comprehensive loss is as follows:

  Three months ended October 31,   Nine months ended October 31,
(in thousands)   2022     2021     2022     2021
Cost of revenue $ 3,662   $ 3,076   $ 10,667   $ 8,547
Sales and marketing   2,569     829     7,136     5,677
Technology and development   4,045     3,458     10,388     10,164
General and administrative   7,894     5,921     22,119     17,312
Other expense, net (1)               342
Total stock-based compensation expense $ 18,170   $ 13,284   $ 50,310   $ 42,042

(1)   Equity-based awards exchanged for cash in connection with the Luum acquisition.

Total Accounts (unaudited)

(in thousands, except percentages) October 31, 2022   October 31, 2021   % Change   January 31, 2022
HSAs 7,650   6,241   23%   7,207
New HSAs from sales - Quarter-to-date 170   151   13%   472
New HSAs from sales - Year-to-date 526   446   18%   918
New HSAs from acquisitions - Year-to-date 90   160   (44)%   740
HSAs with investments 529   431   23%   455
CDBs 6,849   7,085   (3)%   7,192
Total Accounts 14,499   13,326   9%   14,399
Average Total Accounts - Quarter-to-date 14,523   13,247   10%   14,326
Average Total Accounts - Year-to-date 14,482   13,158   10%   13,450

HSA Assets (unaudited)

(in millions, except percentages) October 31, 2022   October 31, 2021   % Change   January 31, 2022
HSA cash $ 13,096   $ 10,469   25%   $ 12,943
HSA investments   7,108     5,959   19%     6,675
Total HSA Assets   20,204     16,428   23%     19,618
Average daily HSA cash - Year-to-date   12,941     10,066   29%     10,579
Average daily HSA cash - Quarter-to-date   12,973     10,182   27%     12,118

Client-held funds (unaudited)

(in millions, except percentages) October 31, 2022   October 31, 2021   % Change   January 31, 2022
Client-held funds $ 759   $ 811   (6)%   $ 897
Average daily Client-held funds - Year-to-date   832     849   (2)%     842
Average daily Client-held funds - Quarter-to-date   794     796   —%     822

Reconciliation of net loss to Adjusted EBITDA (unaudited)

  Three months ended October 31,   Nine months ended October 31,
(in thousands)   2022       2021       2022       2021  
Net loss $ (1,641 )   $ (5,038 )   $ (25,934 )   $ (11,471 )
Interest income   (443 )     (478 )     (584 )     (1,419 )
Interest expense   12,165       11,881       34,119       25,824  
Income tax benefit   (4,539 )     (4,087 )     (12,170 )     (11,505 )
Depreciation and amortization   16,959       13,904       49,306       38,619  
Amortization of acquired intangible assets   23,541       19,642       71,420       59,745  
Stock-based compensation expense   18,170       13,284       50,310       41,700  
Merger integration expenses   6,509       13,244       23,486       38,422  
Acquisition costs (gains) (1)         (2,687 )     53       4,917  
Gain on equity securities                     (1,677 )
Amortization of incremental costs to obtain a contract   1,114       843       3,256       3,468  
Costs associated with unused office space   1,181             3,788        
Other   345       579       1,690       (1,047 )
Adjusted EBITDA $ 73,361     $ 61,087     $ 198,740     $ 185,576  

(1)   For the nine months ended October 31, 2021, acquisition costs included $0.3 million of stock-based compensation expense.

Reconciliation of net loss outlook to Adjusted EBITDA outlook (unaudited)

  Outlook for the year ending
(in millions) January 31, 2023
Net loss $(34) - (27)
Interest income (1)
Interest expense 48
Income tax benefit (15) - (12)
Depreciation and amortization 66
Amortization of acquired intangible assets 94
Stock-based compensation expense 65
Merger integration expenses 27
Amortization of incremental costs to obtain a contract 4
Costs associated with unused office space 5
Other expense 2
Adjusted EBITDA $261 - 271

Reconciliation of net loss to non-GAAP net income (unaudited)

  Three months ended October 31,   Nine months ended October 31,
(in thousands, except per share data)   2022       2021       2022       2021  
Net loss $ (1,641 )   $ (5,038 )   $ (25,934 )   $ (11,471 )
Income tax benefit   (4,539 )     (4,087 )     (12,170 )     (11,505 )
Loss before income taxes - GAAP   (6,180 )     (9,125 )     (38,104 )     (22,976 )
Non-GAAP adjustments:              
Amortization of acquired intangible assets   23,541       19,642       71,420       59,745  
Stock-based compensation expense   18,170       13,284       50,310       41,700  
Merger integration expenses   6,509       13,244       23,486       38,422  
Acquisition costs (gains)         (2,687 )     53       4,917  
Gain on equity securities                     (1,677 )
Costs associated with unused office space   1,181             3,788        
Loss on extinguishment of debt         4,192             4,192  
Total adjustments to loss before income taxes - GAAP   49,401       47,675       149,057       147,299  
Income before income taxes - Non-GAAP   43,221       38,550       110,953       124,323  
Income tax provision - Non-GAAP (1)   10,805       9,638       27,738       31,081  
Non-GAAP net income   32,416       28,912       83,215       93,242  
               
Diluted weighted-average shares   84,572       83,551       84,349       82,939  
Non-GAAP net income per diluted share $ 0.38     $ 0.35     $ 0.99     $ 1.12  

(1)   The Company utilizes a normalized non-GAAP tax rate to provide better consistency across the interim reporting periods within a given fiscal year by eliminating the effects of non-recurring and period-specific items, which can vary in size and frequency, and which are not necessarily reflective of the Company’s longer-term operations. The normalized non-GAAP tax rate applied to each period presented was 25%. The Company may adjust its non-GAAP tax rate as additional information becomes available and in conjunction with any other significant events occurring that may materially affect this rate, such as merger and acquisition activity, changes in business outlook, or other changes in expectations regarding tax regulations.

Reconciliation of net loss outlook to non-GAAP net income outlook (unaudited)

  Outlook for the year ending
(in millions, except per share data) January 31, 2023
Net loss $(34) - (27)
Income tax benefit (15) - (12)
Loss before income taxes - GAAP (49) - (39)
Non-GAAP adjustments:  
Amortization of acquired intangible assets 94
Stock-based compensation expense 65
Merger integration expenses 27
Costs associated with unused office space 5
Total adjustments to loss before income taxes - GAAP 191
Income before income taxes - Non-GAAP 142 - 152
Income tax provision - Non-GAAP (1) 36 - 38
Non-GAAP net income $106 - 114
   
Diluted weighted-average shares 84
Non-GAAP net income per diluted share (2) $1.26 - 1.35

(1)   The Company utilizes a normalized non-GAAP tax rate to provide better consistency across the interim reporting periods within a given fiscal year by eliminating the effects of non-recurring and period-specific items, which can vary in size and frequency, and which are not necessarily reflective of the Company’s longer-term operations. The normalized non-GAAP tax rate applied to each period presented was 25%. The Company may adjust its non-GAAP tax rate as additional information becomes available and in conjunction with any other significant events occurring that may materially affect this rate, such as merger and acquisition activity, changes in business outlook, or other changes in expectations regarding tax regulations.

(2)   Non-GAAP net income per diluted share may not calculate due to rounding of non-GAAP net income and diluted weighted-average shares.

Certain terms

Term Definition
HSA A financial account through which consumers spend and save long-term for healthcare on a tax-advantaged basis.
CDB Consumer-directed benefits offered by employers, including flexible spending and health reimbursement arrangements (“FSAs” and “HRAs”), Consolidated Omnibus Budget Reconciliation Act (“COBRA”) administration, commuter and other benefits.
HSA member Consumers with HSAs that we serve.
Total HSA Assets HSA members’ custodial cash assets held by our federally insured depository partners and our insurance company partners. Total HSA Assets also includes HSA members' investments in mutual funds through our custodial investment fund partner.
Client Our employer clients.
Total Accounts The sum of HSAs and CDBs on our platforms.
Client-held funds Deposits held on behalf of our Clients to facilitate administration of our CDBs.
Network Partner Our health plan partners, benefits administrators, and retirement plan recordkeepers.
Adjusted EBITDA Adjusted earnings before interest, taxes, depreciation and amortization, amortization of acquired intangible assets, stock-based compensation expense, merger integration expenses, acquisition costs, gains and losses on equity securities, amortization of incremental costs to obtain a contract, costs associated with unused office space, and certain other non-operating items.
Non-GAAP net income Calculated by adding back to GAAP net income (loss) before income taxes the following items: amortization of acquired intangible assets, stock-based compensation expense, merger integration expenses, acquisition costs, gains and losses on equity securities, costs associated with unused office space, and losses on extinguishment of debt, and subtracting a non-GAAP tax provision using a normalized non-GAAP tax rate.
Non-GAAP net income per diluted share Calculated by dividing non-GAAP net income by diluted weighted-average shares outstanding.
HealthEquity (NASDAQ:HQY)
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From Feb 2024 to Mar 2024 Click Here for more HealthEquity Charts.
HealthEquity (NASDAQ:HQY)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more HealthEquity Charts.