HealthEquity Inc.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.31B | $1.20B | $999.6M | $861.7M | $756.6M | $733.6M | $532.0M | $287.2M |
| Cost of Revenue | $400.3M | $422.5M | $377.0M | $369.8M | $331.8M | $318.2M | $206.1M | $106.1M |
| Gross Profit | $913.1M | $777.3M | $622.6M | $491.9M | $424.8M | $415.3M | $325.9M | $181.2M |
| Gross Margin | 69.5% | 64.8% | 62.3% | 57.1% | 56.1% | 56.6% | 61.3% | 63.1% |
| Operating Expenses | ||||||||
| Research & Development | $262.5M | $239.5M | $218.8M | $193.4M | $157.4M | $124.8M | $77.6M | $35.1M |
| SG&A Expense | $119.9M | $132.3M | $103.7M | $97.5M | $85.4M | $84.5M | $60.6M | $33.0M |
| Operating Income | $322.5M | $162.3M | $117.7M | $9.1M | $-24.2M | $34.0M | $77.0M | $77.7M |
| Operating Margin | 24.6% | 13.5% | 11.8% | 1.1% | -3.2% | 4.6% | 14.5% | 27.0% |
| Interest Expense | — | — | $55.5M | $48.4M | $36.6M | $34.9M | $24.8M | $270.0K |
| Pretax Income | $277.4M | $116.0M | $75.0M | $-38.1M | $-66.7M | $4.1M | $43.2M | $75.8M |
| Income Tax Expense | $62.2M | $19.3M | $19.3M | $-12.0M | $-22.5M | $-4.7M | $3.5M | $1.9M |
| Net Income | $215.2M | $96.7M | $55.7M | $-26.1M | $-44.3M | $8.8M | $39.7M | $73.9M |
| Net Margin | 16.4% | 8.1% | 5.6% | -3.0% | -5.9% | 1.2% | 7.5% | 25.7% |
| EPS (Basic) | $2.50 | $1.11 | $0.65 | $-0.31 | $-0.53 | $0.12 | $0.59 | $1.20 |
| EPS (Diluted) | $2.46 | $1.09 | $0.64 | $-0.31 | $-0.53 | $0.12 | $0.58 | $1.17 |
| Shares Outstanding (Basic) | 86.1M | 86.9M | 85.6M | 84.4M | 83.1M | 74.2M | 67.0M | 61.8M |
| Shares Outstanding (Diluted) | 87.5M | 88.8M | 87.0M | 84.4M | 83.1M | 75.7M | 68.5M | 63.4M |
| Dividends Per Share | — | — | — | — | — | — | — | — |