DRAPER, Utah., Jan. 10, 2022 (GLOBE NEWSWIRE) — HealthEquity, Inc. (NASDAQ: HQY) (“HealthEquity” or the “Company”), the nation’s largest independent health savings account (“HSA”) custodian, today announced estimates of HSAs, HSA assets and total accounts for its fiscal year ending on January 31, 2022, reflecting record new openings and custodial asset growth.
The Company estimates that it will end its fiscal 2022 year with approximately 120,000 employer clients and 185 network partners consisting of integrated health and retirement plan partners, brokers and benefit advisors.
Commenting on the results, Jon Kessler, President and CEO said, “Team Purple and our growing partner ecosystem are on track to deliver approximately 850,000 new organic HSAs this year, up a remarkable 24% from a year ago. Combined with new HSAs from Further and Fifth Third Bank, we will have welcomed nearly 1.6 million new HSA members to HealthEquity and added over $5 billion in HSA assets to our platform during fiscal 2022. More clients and partners are using our proprietary platform to connect health and wealth than ever before.”
HealthEquity will discuss these results and estimates during its virtual presentation at the 40th Annual J.P. Morgan Healthcare Conference on Wednesday, January 12, 2022. Jon Kessler, President and Chief Executive Officer and Tyson Murdock, Executive Vice President and Chief Financial Officer will discuss HealthEquity in a presentation scheduled to begin at 4:30 PM Eastern Time and will be available for virtual one-on-one meetings throughout the conference. The Company anticipates releasing sales results for fiscal 2022 in mid-February 2022.
A live audio webcast of the presentation along with a copy of the presentation slides will be available and archived on HealthEquity’s investor relations website at http://ir.healthequity.com.
About HealthEquity
HealthEquity administers Health Savings Accounts (HSAs) and other consumer-directed benefits for more than 14 million accounts in partnership with employers, benefits advisors, and health and retirement plan providers who share our mission to connect health and wealth and value our culture of remarkable “Purple” service. For more information, visit www.healthequity.com.
Forward-looking statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our industry, business strategy, plans, goals and expectations concerning our markets and market position, product expansion, future operations, expenses and other results of operations, revenue, margins, profitability, acquisition synergies, future efficiencies, tax rates, capital expenditures, liquidity and capital resources and other financial and operating information. When used in this discussion, the words “may,” “believes,” “intends,” “seeks,” “aims,” “anticipates,” “plans,” “estimates,” “expects,” “should,” “assumes,” “continues,” “could,” “will,” “future” and the negative of these or similar terms and phrases are intended to identify forward-looking statements in this press release.
Forward-looking statements reflect our current expectations regarding future events, results or outcomes. These expectations may or may not be realized. Although we believe the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to be correct. Some of these expectations may be based upon assumptions, data or judgments that prove to be incorrect. Actual events, results and outcomes may differ materially from our expectations due to a variety of known and unknown risks, uncertainties and other factors. Although it is not possible to identify all of these risks and factors, they include, among others, risks related to the following:
For a detailed discussion of these and other risk factors, please refer to the risks detailed in our filings with the Securities and Exchange Commission, including, without limitation, our Annual Report on Form 10-K for the fiscal year ended January 31, 2021 and subsequent periodic and current reports. Past performance is not necessarily indicative of future results. We undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.
Investor Relations Contact:
Richard Putnam
801-727-1209
rputnam@healthequity.com
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