HQY on Nasdaq

HEALTHEQUITY, INC.

American business services company, incorporated in Delaware.

Price unavailable

Last updated Oct 18, 2026.

Overview

$1.3BRevenue, fiscal 20262
$215.2MNet income, fiscal 20262

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  • TickerHQY on Nasdaq
  • IndustryServices-Business Services, NEC
  • HeadquartersDE
  • Incorporated inDE3
  • Business address15 West Scenic Pointe Drive, Suite 100, Draper, Ut 840203
  • Filer categoryLarge accelerated filer3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

69.5%Gross margin2
24.6%Operating margin2
16.4%Net margin2
9.5%Revenue growth, 20262
10.2%Return on equity2
0.45×Debt to equity2
$455.1MFree cash flow2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Financial Service, Other brought in 48% of the revenue HEALTHEQUITY, INC. broke down this way in fiscal 2026.

  1. Financial Service, Other$636.8M248%up 17% from 2025
  2. Service$485.0M237%up 1% from 2025
  3. Credit and Debit Card$191.6M215%up 9% from 2025
Products and services by year
Products and services202420252026
Financial Service, Other$386.6M$545.4M$636.8M
Service$455.7M$478.3M$485.0M
Credit and Debit Card$157.3M$176.0M$191.6M

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue30¢$400.3M
  • Research and development20¢$262.5M
  • Other costs28¢$373.2M
  • Income tax5¢$62.2M
  • Profit16¢$215.2M

Out of $1.3B in revenue.2

Where each dollar of operating cash went, fiscal 2026

  • Capital spending0¢$2.0M
  • Share buybacks65¢$299.3M
  • Kept or used elsewhere34¢$155.9M

Out of $457.1M of cash from operations.2

Financial statements

Revenue456782$1.3B in 2026+357% since 2019
0$500.0M$1.0B$1.5B2019: $287.2M$287.2M20192020: $532.0M$532.0M2020+85%2021: $733.6M$733.6M2021+38%2022: $756.6M$756.6M2022+3%2023: $861.7M$861.7M2023+14%2024: $999.6M$999.6M2024+16%2025: $1.2B$1.2B2025+20%2026: $1.3B$1.3B2026+9%
Gross profit456782$913.1M in 2026+404% since 2019
0$250.0M$500.0M$750.0M$1.0B2019: $181.2M$181.2M20192020: $325.9M$325.9M2020+80%2021: $415.3M$415.3M2021+27%2022: $424.8M$424.8M2022+2%2023: $491.9M$491.9M2023+16%2024: $622.6M$622.6M2024+27%2025: $777.3M$777.3M2025+25%2026: $913.1M$913.1M2026+17%
Operating income456782$322.5M in 2026+315% since 2019
-$100.0M0$100.0M$200.0M$300.0M$400.0M2019: $77.7M$77.7M20192020: $77.0M$77.0M2020−1%2021: $34.0M$34.0M2021−56%2022: -$24.2M-$24.2M20222023: $9.1M$9.1M20232024: $117.7M$117.7M2024+1200%2025: $162.3M$162.3M2025+38%2026: $322.5M$322.5M2026+99%
Net income456782$215.2M in 2026+191% since 2019
-$100.0M0$100.0M$200.0M$300.0M2019: $73.9M$73.9M20192020: $39.7M$39.7M2020−46%2021: $8.8M$8.8M2021−78%2022: -$44.3M-$44.3M20222023: -$26.1M-$26.1M2023−41%2024: $55.7M$55.7M20242025: $96.7M$96.7M2025+74%2026: $215.2M$215.2M2026+123%

Every line of the income statement as filed: the last 3 fiscal years, latest first.2

Period ending2026-01-312025-01-312024-01-31
Total revenue$1.3B$1.2B$999.6M
Total cost of revenue$400.3M$422.5M$376.9M
Gross profit$913.1M$777.3M$622.6M
Sales and marketing$95.2M$90.7M$79.3M
Technology and development$262.5M$239.5M$218.8M
General and administrative$119.9M$132.3M$103.7M
Amortization of acquired intangible assets$108.0M$111.9M$92.8M
Merger integration$5.0M$40.5M$10.4M
Total operating expenses$590.7M$614.9M$504.9M
Income from operations$322.5M$162.3M$117.7M
Interest expense-$57.1M-$60.6M-$55.5M
Other income, net$12.1M$14.3M$12.8M
Total other expense-$45.0M-$46.3M-$42.7M
Income before income taxes$277.4M$116.0M$75.0M
Income tax provision$62.2M$19.3M$19.3M
Net income$215.2M$96.7M$55.7M
Basic (in usd per share)$2.50$1.11$0.65
Diluted (in usd per share)$2.46$1.09$0.64
Basic (in shares)86.1M shares86.9M shares85.6M shares
Diluted (in shares)87.5M shares88.8M shares87.0M shares

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Leadership

Who has led HEALTHEQUITY, INC., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (33)

Former names

  • HEALTHEQUITY INCFeb 22, 2008 to Jun 6, 20193

Timeline

  1. Jan 10, 2025New chief executive Scott Cutler becomes CEO12
  2. Jul 30, 2014New chief executive Darcy G. Mott becomes CEO13

Filings

522 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 66 major events, 280 insider forms, 20 large holders, 136 other. The latest 20:

  1. Oct 9, 20268-K EDGAR
  2. Oct 9, 2026SCHEDULE 13G/A EDGAR
  3. Oct 8, 20264 EDGAR
  4. Oct 8, 2026144 EDGAR
  5. Oct 8, 20264 EDGAR
  6. Oct 8, 2026144 EDGAR
  7. Oct 8, 20264 EDGAR
  8. Oct 8, 2026144 EDGAR
  9. Oct 8, 20264 EDGAR
  10. Oct 8, 2026144 EDGAR
  11. Oct 8, 20264 EDGAR
  12. Oct 8, 2026144 EDGAR
  13. Oct 8, 20264 EDGAR
  14. Oct 8, 2026144 EDGAR
  15. Sep 30, 20263 EDGAR
  16. Sep 30, 20268-K EDGAR
  17. Sep 18, 20264 EDGAR
  18. Aug 27, 2026S-8 EDGAR
  19. Aug 27, 202610-Q EDGAR
  20. Aug 27, 20268-K EDGAR

The 522 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 20 such filings since October 2021, the latest 10:

  1. Oct 9, 2026SCHEDULE 13G/A
  2. Jul 31, 2026SCHEDULE 13G/A
  3. Jul 15, 2026SCHEDULE 13G/A
  4. Apr 30, 2026SCHEDULE 13G
  5. Apr 29, 2026SCHEDULE 13G
  6. Mar 27, 2026SCHEDULE 13G/A
  7. Nov 5, 2025SCHEDULE 13G/A
  8. Feb 13, 2024SC 13G/A
  9. Feb 9, 2024SC 13G/A
  10. Feb 9, 2024SC 13G/A

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.11,277,914$1.0B0.0%+745,520
Wasatch Advisors LP7,960,735$719.0M4.7%+757,801
Morgan Stanley4,547,219$410.7M0.0%+2,061,306
Vanguard Portfolio Management LLC4,057,643$366.5M0.0%−105,950
Vanguard Capital Management LLC3,640,776$328.8M0.0%−183,028
State Street Corp3,241,046$292.7M0.0%+141,149
Geode Capital Management, LLC2,374,467$214.5M0.0%+114,821
Aqr Capital Management LLC1,999,209$176.1M0.1%−93,014
Dimensional Fund Advisors LP1,869,036$168.8M0.0%+241,997
William Blair Investment Management, LLC1,773,227$160.2M0.5%+113,611
Fmr LLC1,538,387$138.9M0.0%+403,454
Brown Advisory Inc1,372,624$124.0M0.2%−40,160
Clearbridge Investments, LLC1,296,765$117.1M0.1%−13,207
Charles Schwab Investment Management Inc1,188,902$107.4M0.0%+13,563
Greenhouse Funds LLLP1,183,024$106.9M5.6%−74,830
Geneva Capital Management LLC1,149,680$103.8M2.4%−24,390
Bank Of America Corp /de/1,146,735$103.6M0.0%+284,727
Jpmorgan Chase & Co1,158,837$102.1M0.0%−24,574
DAVENPORT & Co LLC1,087,218$98.2M0.5%+71,784
Northern Trust Corp1,072,119$96.8M0.0%+35,945
Goldman Sachs Group Inc1,007,434$91.0M0.0%+206,616
Arrowstreet Capital, Limited Partnership965,807$87.2M0.0%+963,026
Atalan Capital Partners, LP915,270$82.7M5.1%+31,600
Loomis Sayles & Co L P908,554$82.1M0.1%−23,352
Jupiter Topco LLC872,972$78.8M0.0%New

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

24 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jul 10, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−4.2%Report
Jun 30, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−0.9%Report
May 29, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000+3.1%Report
Jun 17, 2025Lisa C. McClainRepublican, HouseSale$1,001 - $15,000+36.7%Report
Jun 16, 2025Gilbert Ray Cisneros, Jr.Democratic, HousePartial sale$1,001 - $15,000+36.5%Report
Jun 11, 2025Lisa C. McClainRepublican, HouseBuy$1,001 - $15,000−39.9%Report
Jan 13, 2025Robert P. Bresnahan, Jr.Republican, HouseSale$1,001 - $15,000+41.9%Report
Nov 7, 2024Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000+34.4%Report
Jun 21, 2024Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000+31.1%Report
Jan 19, 2024Blake D. MooreRepublican, HouseSale$1,001 - $15,000+33.5%Report
Jan 19, 2024Blake D. MooreRepublican, HouseSale$1,001 - $15,000+33.5%Report
Apr 10, 2023Daniel S. GoldmanDemocratic, HouseSale$15,001 - $50,000+27.8%Report
Jan 10, 2022Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000+21.0%Report
Dec 9, 2021Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000−54.4%Report
May 12, 2021Blake D. MooreRepublican, HouseBuy$1,001 - $15,000−64.7%Report
May 11, 2021Blake D. MooreRepublican, HouseBuy$1,001 - $15,000−58.1%Report
Apr 30, 2021Blake D. MooreRepublican, HouseBuy$1,001 - $15,000−63.2%Report
Mar 26, 2021Blake D. MooreRepublican, HouseBuy$1,001 - $15,000−62.7%Report
Jul 17, 2020Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−81.1%Report
Jul 9, 2020Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000−80.4%Report
Apr 7, 2020Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−90.0%Report
Apr 3, 2020Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000−85.8%Report
Mar 31, 2020Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−116.6%Report
Mar 26, 2020Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000−131.5%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

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