HealthEquity Income Statement

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

Millions USD. Fiscal year is Feb - Jan.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jan '26 Jan 31, 2026	Jan '25 Jan 31, 2025	Jan '24 Jan 31, 2024	Jan '23 Jan 31, 2023	Jan '22 Jan 31, 2022
Revenue	1,313	1,200	999.59	861.75	756.56
Revenue Growth (YoY)	9.47%	20.03%	16.00%	13.90%	3.13%
Cost of Revenue	400.31	422.52	376.95	369.81	331.79
Gross Profit	913.12	777.26	622.64	491.94	424.77
Selling, General & Admin	215.17	223	182.93	166.32	144.04
Depreciation & Amortization Expenses	107.95	111.88	92.76	94.59	82.79
Research & Development	262.51	239.51	218.81	193.38	157.36
Other Operating Expenses	5.02	40.54	10.44	28.6	64.81
Total Operating Expenses	590.66	614.93	504.94	482.88	449
Operating Income	322.46	162.33	117.7	9.06	-24.24
Interest Expense	-57.13	-60.63	-55.46	-48.42	-36.57
Other Non-Operating Income (Expense)	12.11	14.33	12.8	1.27	-5.93
Total Non-Operating Income (Expense)	-45.02	-46.3	-42.66	-47.15	-42.5
Pretax Income	277.43	116.03	75.04	-38.1	-66.74
Provision for Income Taxes	62.23	19.33	19.33	-11.95	-22.45
Net Income	215.2	96.7	55.71	-26.14	-44.29
Net Income to Common	215.2	96.7	55.71	-26.14	-44.29
Net Income Growth	122.54%	73.58%	-	-	-
Shares Outstanding (Basic)	86	87	86	84	83
Shares Outstanding (Diluted)	87	89	87	84	83
Shares Change (YoY)	-1.52%	2.15%	2.98%	1.57%	9.85%
EPS (Basic)	2.50	1.11	0.65	-0.31	-0.53
EPS (Diluted)	2.46	1.09	0.64	-0.31	-0.53
EPS Growth	125.69%	70.31%	-	-	-
Free Cash Flow	0	337.77	241.13	147.28	132.09
Free Cash Flow Growth	-	40.08%	63.73%	11.50%	-21.62%
Free Cash Flow Per Share	-	3.80	2.77	1.74	1.59
Gross Margin	69.52%	64.78%	62.29%	57.09%	56.14%
Operating Margin	24.55%	13.53%	11.77%	1.05%	-3.20%
Profit Margin	16.38%	8.06%	5.57%	-3.03%	-5.85%
FCF Margin	0.00%	28.15%	24.12%	17.09%	17.46%
EBITDA	322.46	324.79	270.78	170.26	112.95
EBITDA Margin	24.55%	27.07%	27.09%	19.76%	14.93%
EBIT	322.46	162.33	117.7	9.06	-24.24
EBIT Margin	24.55%	13.53%	11.77%	1.05%	-3.20%
Effective Tax Rate	22.43%	16.66%	25.76%	31.38%	33.64%

Updated Mar 17, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q