HealthEquity Reports Year-End Sales Metrics; Sees FY24 EPS $2.20-$2.24 Vs $2.14 Est.; Revenue $995M-$1B Vs $992.74M Est.; FY25 Revenue $1.14B-$1.16B Vs $1.15B Est.;

Author: Benzinga Newsdesk | February 21, 2024 05:24pm

Business outlook

For the fiscal year ended January 31, 2024, the Company revised its previously provided outlook as follows:

• Revenue in the range of $995 million to $1 billion;
• Net income in the range of $49 million to $52 million;
• Net income per diluted share in the range of $0.56 to $0.60;
• Adjusted EBITDA in the range of $364 million to $369 million;
• Non-GAAP net income in the range of $191 million to $195 million; and
• Non-GAAP net income per diluted share in the range of $2.20 to $2.24 (based on an estimated 87 million diluted weighted-average shares outstanding).
  
   

For the fiscal year ending January 31, 2025, the Company affirmed its previously provided outlook, which assumes an average annualized yield on HSA cash of approximately 3%, as follows:

• Revenue in the range of $1.140 billion to $1.160 billion;
• Adjusted EBITDA in the range of 38% to 39% of revenue.

See "Non-GAAP financial information" below for definitions of our Adjusted EBITDA and non-GAAP net income. A reconciliation of the non-GAAP financial measures in our business outlook for the fiscal year ended January 31, 2024 to the most comparable GAAP financial measures is included with the financial tables at the end of this release. Reconciliations to net income, the most directly comparable GAAP measure, of our Adjusted EBITDA outlook for the fiscal year ending January 31, 2025 and our non-GAAP net income per share goal for the fiscal year ending January 31, 2027 are not included, because our net income outlook for these future periods is not available without unreasonable efforts as we are unable to predict the ultimate outcome of certain significant items excluded from these non-GAAP measures (such as depreciation and amortization, stock-based compensation expense, and income tax provision).

Posted In: HQY