HealthEquity, Inc. (HQY) Bundle
A Brief History of HealthEquity, Inc. (HQY)
Company Founding and Early Years
HealthEquity, Inc. was founded in 2002 in Salt Lake City, Utah. The company went public on October 28, 2014, trading on the NASDAQ under the ticker symbol HQY.
Financial Performance
| Fiscal Year | Total Revenue | Net Income |
|---|---|---|
| 2023 | $922.1 million | $179.8 million |
| 2022 | $799.5 million | $151.3 million |
Key Business Segments
- Health Savings Account (HSA) Administration
- Investment Platform Services
- Benefit Accounts Management
Market Position
As of 2024, HealthEquity serves over 7.2 million members and manages approximately $20.4 billion in total assets.
Key Acquisitions
- WageWorks acquisition in 2019 for $2.2 billion
- Further Health acquisition in 2021
Stock Performance
| Stock Price Range (2023) | 52-Week Low | 52-Week High |
|---|---|---|
| Price Range | $47.13 | $78.00 |
Corporate Leadership
Jon Kessler serves as President and CEO. The company has approximately 2,600 employees as of 2024.
A Who Owns HealthEquity, Inc. (HQY)
Major Institutional Shareholders
| Shareholder | Shares Owned | Percentage |
|---|---|---|
| The Vanguard Group, Inc. | 6,245,360 | 10.83% |
| BlackRock Inc. | 5,412,721 | 9.38% |
| Macquarie Group Limited | 3,829,235 | 6.64% |
| JPMorgan Chase & Co. | 3,102,470 | 5.38% |
Top Insider Ownership
- Jon Kessler (President & CEO): 1,042,332 shares
- Darcy Meinert (CFO): 124,567 shares
- Stephen Neeleman (Founder): 890,221 shares
Ownership Structure
HealthEquity, Inc. is a publicly traded company listed on NASDAQ under ticker HQY. Public float: 57,639,000 shares.
Institutional Ownership Details
Total institutional ownership: 95.6% as of Q4 2023.
| Investor Type | Percentage |
|---|---|
| Mutual Funds | 42.3% |
| ETFs | 28.5% |
| Hedge Funds | 15.8% |
| Other Institutions | 9.0% |
HealthEquity, Inc. (HQY) Mission Statement
Company Overview
HealthEquity, Inc. is a technology-driven healthcare services company headquartered in Draper, Utah. Founded in 2002, the company focuses on health savings accounts (HSAs), health reimbursement arrangements (HRAs), and other consumer-directed healthcare accounts.
Core Mission Components
- Provide technology platform for healthcare financial services
- Empower consumers to make informed healthcare spending decisions
- Optimize healthcare and financial outcomes for individuals and employers
Financial Performance Metrics
| Fiscal Year 2023 Metrics | Amount |
|---|---|
| Total Revenue | $912.1 million |
| Net Income | $141.2 million |
| HSA Assets Under Administration | $21.7 billion |
| Total Membership | 7.2 million |
Strategic Focus Areas
Key strategic priorities include:
- Expanding digital healthcare financial services
- Enhancing technology platform capabilities
- Increasing HSA account penetration
Market Position
HealthEquity is a leading independent administrator of health savings accounts in the United States, serving employers, health plans, and financial institutions.
Key Performance Indicators
| Metric | 2023 Data |
|---|---|
| Average HSA Balance | $3,050 |
| Number of Employer Clients | Over 36,000 |
| Platform Integrations | 100+ healthcare and financial platforms |
How HealthEquity, Inc. (HQY) Works
Company Overview
Company Overview
HealthEquity, Inc. is a technology-enabled services platform for healthcare savings and spending accounts. As of December 31, 2023, the company manages $30.2 billion in total assets.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $881.1 million |
| Net Income | $146.4 million |
| Accounts Administered | 7.2 million |
Core Business Services
- Health Savings Account (HSA) administration
- Flexible Spending Account (FSA) management
- Health Reimbursement Arrangement (HRA) services
- COBRA administration
Technology Platform
HealthEquity operates a cloud-based digital platform that integrates with employer benefits systems and healthcare providers.
Market Segments
| Segment | Percentage of Revenue |
|---|---|
| Employer Market | 68% |
| Health Plan Market | 22% |
| Other Services | 10% |
Customer Base
As of 2024, HealthEquity serves over 16,000 employers and partners nationwide.
How HealthEquity, Inc. (HQY) Makes Money
Revenue Streams
Revenue Streams
HealthEquity generates revenue through multiple channels in the healthcare financial services sector:
| Revenue Source | 2023 Contribution |
|---|---|
| Custodial Services | $376.3 million |
| Account Fees | $264.7 million |
| Investment Platform Fees | $142.5 million |
Primary Business Segments
- Health Savings Account (HSA) Administration
- Flexible Spending Account (FSA) Management
- Health Reimbursement Arrangement (HRA) Services
Fee Breakdown
HealthEquity generates fees through:
- Custodial Account Maintenance: $5.40 per member per month
- Investment Platform Fees: 0.25% - 0.50% of assets under administration
- Transaction Processing Fees: $3.50 per transaction
Financial Performance
| Metric | 2023 Value |
|---|---|
| Total Revenue | $783.5 million |
| Net Income | $146.2 million |
| Assets Under Administration | $21.3 billion |
Key Revenue Drivers
- Number of HSA Accounts: 7.2 million
- Average Account Balance: $2,950
- Membership Growth Rate: 12.3% annually
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