HEALTHEQUITY Reports Q2 FY2024 Earnings for Period Ending July 31 2023
September 7, 2023
🌥️Earnings Overview
On September 5 2023, HEALTHEQUITY ($NASDAQ:HQY) reported their earnings results for the second quarter of FY2024, which ended on July 31 2023. Total revenue for the quarter was USD 243.6 million, up 18.1% from the same period a year ago. Net income for the quarter rose 199.3% year over year to USD 10.6 million.
Market Price
On Tuesday, HEALTHEQUITY reported its earnings for the fiscal quarter ending July 31, 2023. The stock opened at $66.1 and closed at $66.8, representing a 0.6% increase from its previous closing price of 66.4. Investors responded positively to the news, sending the stock up over the course of the day. The company reported an impressive quarter, beating analyst forecasts across the board.
HEALTHEQUITY’s strong performance is a testament to its innovative products and services. The company is focused on improving health outcomes for its customers by providing access to financial resources and tools that empower individuals and families to make smarter healthcare decisions. With the continued expansion of its services, HEALTHEQUITY is certain to remain a strong performer in the industry for years to come. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Healthequity. More…
| Total Revenues | Net Income | Net Margin |
| 937.91 | 12.82 | 2.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Healthequity. More…
| Operations | Investing | Financing |
| 212.07 | -43.19 | -55.42 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Healthequity. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.07k | 1.12k | 22.77 |
Key Ratios Snapshot
Some of the financial key ratios for Healthequity are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.0% | -6.0% | 7.8% |
| FCF Margin | ROE | ROA |
| 18.0% | 2.4% | 1.5% |
Analysis
At GoodWhale, we performed an analysis to assess HEALTHEQUITY‘s wellbeing. Based on our Risk Rating, HEALTHEQUITY is a high risk investment in terms of both financial and business aspects. To get an in-depth look into the risks associated with HEALTHEQUITY, we recommend that you become a registered user of our platform. Once you do, you can check out three risk warnings we detected in the income sheet, balance sheet, and non-financial areas. Through these warnings, you will gain a better understanding of HEALTHEQUITY’s risk profile. By having this knowledge, you can make a more informed investment decision. More…
Peers
There is fierce competition in the healthcare industry between HealthEquity Inc and its competitors: Accolade Inc, Definitive Healthcare Corp, Sharecare Inc. All four companies are striving to provide the best possible healthcare services to their customers. Each company has its own unique strengths and weaknesses, and it is up to the customer to decide which company best meets their needs.
– Accolade Inc ($NASDAQ:ACCD)
Accolade, Inc. is a technology company that provides personalized health and benefits solutions. The company offers a platform that helps people navigate the health care system, make better health decisions, and lead healthier lives. Accolade has a market cap of 789.17M as of 2022 and a Return on Equity of -47.5%. The company’s platform is used by more than 20 million people in the United States.
– Definitive Healthcare Corp ($NASDAQ:DH)
Definitive Healthcare Corp is a healthcare intelligence and analytics platform that provides insights into the healthcare industry. The company’s platform provides access to data on more than 8,500 hospitals, 1.5 million physicians, and 300,000 clinical trials. The company’s data and insights are used by healthcare organizations to drive clinical and operational decision-making.
– Sharecare Inc ($NASDAQ:SHCR)
Sharecare is a digital health company that allows users to track their health and wellness data in one place. The company has a wide range of products and services that help users track their health, including a weight loss program, a fitness tracker, and a health journal. Sharecare also offers a variety of health and wellness content, including articles, videos, and podcasts.
Summary
Investors should be encouraged by the strong financial results reported by HEALTHEQUITY for the second quarter of FY2024. Total revenue grew 18.1% year over year, while net income increased 199.3%. This performance demonstrates the company’s ability to generate growth and profitability during challenging economic times.
Going forward, investors should continue to monitor the company’s progress in areas such as customer acquisition and retention, as well as their investments in new technology and products. With a steady revenue stream and increasing net income, HEALTHEQUITY looks well-positioned to capitalize on future growth opportunities and deliver long-term value for its shareholders.
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