---
schema_version: "secwatch.filing_event.v1"
accession: "0001428336-25-000028"
form_type: "8-K"
ticker: "HQY"
cik: "0001428336"
company_name: "HEALTHEQUITY, INC."
filed_at: "2025-09-02T23:59:59+00:00"
generated_at: "2026-05-17T08:48:22.927966+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# HealthEquity Q2 revenue +9% to $325.8M; net income up 67% to $0.68 EPS; record adjusted EBITDA margin 46%

## Summary
- Revenue $325.8M (+9% YoY); net income $59.9M ($0.68 diluted EPS) vs $35.8M ($0.40) in Q2 FY25.
- Non-GAAP net income $94.6M ($1.08 diluted EPS), up 24% from $76.3M ($0.86).
- Adjusted EBITDA $151.1M (+18% YoY), margin 46% vs 43% last year.
- Total HSA accounts 10.0M (+6% YoY, including 782K investment HSAs +10%); total HSA assets $33.1B (+12%).
- FY26 outlook: revenue $1.290B-$1.310B, adjusted EBITDA $540M-$560M, non-GAAP EPS $3.74-$3.91.

## SEC filing metadata
- accession: 0001428336-25-000028
- form_type: 8-K
- ticker: HQY
- cik: 0001428336
- company_name: HEALTHEQUITY, INC.
- filed_at: 2025-09-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1428336/000142833625000028/0001428336-25-000028-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1428336/000142833625000028/hqy-20250902.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001428336-25-000028
- JSON: https://secwatch.observer/filing/0001428336-25-000028.json
- Plain text: https://secwatch.observer/filing/0001428336-25-000028.txt

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