In the fourth quarter alone, HealthEquity achieved a revenue of $334.6 million, a 7% increase year-over-year, and net income of $49.7 million, an 89% increase compared to the same quarter last year. The adjusted EBITDA for the fiscal year reached $566.0 million, a 20% increase, with an adjusted EBITDA margin of 43%, up from 39% in the prior year. The company also reported total HSA assets growing by 14% to $36.5 billion.
HealthEquity returned $301.7 million to shareholders through stock repurchases during the fiscal year, including $81.7 million in the fourth quarter. The company has further reduced HSA cash repricing risk with a cumulative $2.35 billion five-year Treasury bond hedge at 3.92%.
Looking ahead, HealthEquity has raised its fiscal 2027 guidance, expecting revenues between $1.405 billion and $1.415 billion, with net income projected between $239 million and $246 million. The company anticipates adjusted EBITDA of $618 million to $628 million. Scott Cutler, President and CEO, expressed optimism about the company’s growth trajectory, highlighting the addition of one million new HSAs from sales for the second consecutive year, bringing the total to 17.8 million accounts and over $36 billion in HSA assets. This robust performance positions HealthEquity for continued growth in the coming fiscal year.
