HealthEquity, Inc. (HQY)

HealthEquity Income Statement

Financials in millions USD. Fiscal year is February - January.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul 31, 2025	Jan 31, 2025	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021
Revenue	1,269	1,200	999.59	861.75	756.56	733.57
Revenue Growth (YoY)	15.45%	20.03%	16.00%	13.90%	3.13%	37.89%
Cost of Revenue	425.95	422.52	376.95	369.81	331.79	318.24
Gross Profit	842.98	777.26	622.64	491.94	424.77	415.33
Selling, General & Admin	208.92	223	182.93	166.32	144.04	134.46
Research & Development	251.08	239.51	218.81	193.38	157.36	124.81
Operating Expenses	569.35	574.39	494.5	454.28	384.2	335.33
Operating Income	273.62	202.87	128.13	37.65	40.57	80
Interest Expense	-63.23	-60.63	-55.46	-48.42	-36.57	-34.88
Interest & Investment Income	13.03	13.91	12.14	1.76	1.5	1.05
Other Non Operating Income (Expenses)	0.91	0.42	0.66	-0.44	1.71	5.08
EBT Excluding Unusual Items	224.34	156.57	85.48	-9.45	7.2	51.25
Merger & Restructuring Charges	-39.16	-40.54	-10.44	-28.65	-75.64	-47.11
Gain (Loss) on Sale of Investments	-	-	-	-	1.69	-
Pretax Income	185.18	116.03	75.04	-38.1	-66.74	4.14
Income Tax Expense	39.34	19.33	19.33	-11.95	-22.45	-4.69
Net Income	145.84	96.7	55.71	-26.14	-44.29	8.83
Net Income to Common	145.84	96.7	55.71	-26.14	-44.29	8.83
Net Income Growth	38.01%	73.58%	-	-	-	-77.73%
Shares Outstanding (Basic)	87	87	86	84	83	74
Shares Outstanding (Diluted)	89	89	87	84	83	76
Shares Change (YoY)	0.59%	2.15%	2.98%	1.57%	9.85%	10.56%
EPS (Basic)	1.68	1.11	0.65	-0.31	-0.53	0.12
EPS (Diluted)	1.65	1.09	0.64	-0.31	-0.53	0.12
EPS Growth	37.24%	70.31%	-	-	-	-79.48%
Free Cash Flow	365.42	337.77	241.13	147.28	132.09	168.53
Free Cash Flow Per Share	4.12	3.80	2.77	1.74	1.59	2.23
Gross Margin	66.43%	64.78%	62.29%	57.09%	56.15%	56.62%
Operating Margin	21.56%	16.91%	12.82%	4.37%	5.36%	10.91%
Profit Margin	11.49%	8.06%	5.57%	-3.03%	-5.85%	1.20%
Free Cash Flow Margin	28.80%	28.15%	24.12%	17.09%	17.46%	22.97%
EBITDA	430.72	365.32	281.21	198.85	177.76	195.91
EBITDA Margin	33.94%	30.45%	28.13%	23.08%	23.49%	26.71%
D&A For EBITDA	157.1	162.45	153.08	161.2	137.19	115.9
EBIT	273.62	202.87	128.13	37.65	40.57	80
EBIT Margin	21.56%	16.91%	12.82%	4.37%	5.36%	10.91%
Effective Tax Rate	21.25%	16.66%	25.76%	-	-	-
Revenue as Reported	1,269	1,200	999.59	861.75	756.56	733.57

Updated Sep 2, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q