---
schema_version: "secwatch.filing_event.v1"
accession: "0001428336-24-000035"
form_type: "8-K"
ticker: "HQY"
cik: "0001428336"
company_name: "HEALTHEQUITY, INC."
filed_at: "2024-06-03T23:59:59+00:00"
generated_at: "2026-06-01T06:45:44.592354+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# HealthEquity Q1 revenue $287.6M (+18% YoY), net income $28.8M; raises FY25 outlook

## Summary
- Revenue $287.6M, up 18% YoY; net income $28.8M ($0.33 diluted EPS) vs $4.1M ($0.05) in Q1 FY24.
- Non-GAAP net income $70.3M ($0.80 per diluted share), up 64% YoY; Adjusted EBITDA $117.4M (41% of revenue), up 36% YoY.
- HSAs grew 13% to 9.1M; total HSA assets $27.3B (+22% YoY); total accounts 16.0M (+7%).
- Completed BenefitWallet HSA portfolio acquisition on May 9, 2024 for $425M, funded with revolver and cash.
- FY2025 guidance raised: revenue $1.16B-$1.18B; Adjusted EBITDA $454M-$474M; non-GAAP EPS $2.93-$3.10.

## SEC filing metadata
- accession: 0001428336-24-000035
- form_type: 8-K
- ticker: HQY
- cik: 0001428336
- company_name: HEALTHEQUITY, INC.
- filed_at: 2024-06-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1428336/000142833624000035/0001428336-24-000035-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1428336/000142833624000035/hqy-20240603.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001428336-24-000035
- JSON: https://secwatch.observer/filing/0001428336-24-000035.json
- Plain text: https://secwatch.observer/filing/0001428336-24-000035.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.