Mission Statement, Vision, & Core Values of HealthEquity, Inc. (HQY)

A company's Mission, Vision, and Core Values (MVC) aren't just posters on a wall; they are the strategic scaffolding that underpins financial performance, and for HealthEquity, Inc. (HQY), that foundation is proving incredibly strong. In fiscal year 2025, the company's mission to save and improve lives by empowering healthcare consumers translated into a 74% surge in net income, reaching $96.7 million, and a 27% jump in Total Health Savings Account (HSA) Assets to $32.1 billion. Are you looking at a genuine cultural alignment that drives superior results, or is this simply a beneficiary of the growing consumer-directed healthcare (CDH) market? Let's break down how their core principles-like their 'Purple' value to 'Be Remarkable'-actually map to their market dominance as the nation's largest HSA custodian.

HealthEquity, Inc. (HQY) Overview

You need a clear picture of HealthEquity, Inc. (HQY), and the takeaway is simple: they are the dominant force in the Health Savings Account (HSA) market, driving significant revenue by helping millions of Americans manage their healthcare dollars. This isn't just a benefits administrator; it's a technology-enabled financial services platform.

HealthEquity, Inc. has built its business around being the nation's largest Health Savings Account (HSA) custodian, a role that involves holding and administering these tax-advantaged accounts. Their core offering is a suite of technology-enabled services that simplify consumer-directed benefits (CDBs), which include HSAs, Flexible Spending Accounts (FSAs), and Health Reimbursement Arrangements (HRAs). Since its founding, the company has focused on connecting the consumer's health and wealth, a critical niche in the complex U.S. healthcare system. For the fiscal year ended January 31, 2025, HealthEquity reported total revenue of $1.20 billion, a strong 20% increase from the previous year, showing consistent growth. That's a solid foundation.

• Manage 10.0 million HSAs.
• Total accounts reached 17.1 million.
• HSA assets total $33.1 billion.

Here's the quick math: managing that many accounts and assets generates a highly predictable revenue stream, which is why the stock is getting attention.

Record Revenue and Market Growth in 2025

The company's financial performance in the latest reporting period confirms its upward trajectory, posting record results that beat expectations. For the second quarter ended July 31, 2025 (Q2 FY2026), HealthEquity reported revenue of $325.8 million, marking a 9% increase year-over-year. This is a clear indicator of momentum, especially given the current economic climate.

The main product-the custodianship of HSA assets-is the primary revenue driver. Custodial revenue, which is essentially the interest earned on the cash held in HSAs and other administrative fees, was the largest component of sales for the quarter, bringing in $159.9 million. This revenue stream is particularly powerful because it grows with both account volume and rising interest rates. Service revenue and interchange revenue (from debit card transactions) added another $117.9 million and $48.1 million, respectively, showing a well-diversified top line.

Growth isn't just about revenue; it's about market penetration. As of July 31, 2025, the company's total HSA assets grew to $33.1 billion, a 12% jump from the prior year. This growth is defintely fueled by new accounts, which reached 10.0 million HSAs, an increase of 6% year-over-year. What this estimate hides is the stickiness of the HSA product, which tends to retain members for years, creating a long-term, compounding asset base.

A Leader in the Consumer-Directed Healthcare Industry

HealthEquity, Inc. isn't just a participant; it's positioned as the clear leader in the consumer-directed healthcare space, specifically as the nation's largest HSA custodian by number of accounts. This market leadership is supported by a strategic focus on technology, including the recent deployment of agentic Artificial Intelligence (AI) to improve member support, which drives efficiency and customer loyalty. This focus is key to scaling their massive member base without linearly increasing costs.

The company's platform is designed to empower the 'savvy healthcare consumer,' providing tools for better health and financial decisions. This strategy aligns perfectly with the national trend toward high-deductible health plans and greater individual responsibility for healthcare spending. Recent legislative changes expanding HSA eligibility further solidify their market opportunity, especially as more American families seek the financial security and tax benefits HSAs provide. To be fair, competition from giants like Fidelity Investments and UnitedHealth Group's Optum is real, but HealthEquity's specialized focus gives it an edge.

If you want to understand the drivers behind this success and the investor sentiment, you should check out Exploring HealthEquity, Inc. (HQY) Investor Profile: Who's Buying and Why?

HealthEquity, Inc. (HQY) Mission Statement

As a seasoned analyst, I look at a company's mission statement not as a marketing slogan, but as the core operating thesis that drives its financial performance and long-term strategy. For HealthEquity, Inc. (HQY), that thesis is clear and powerful: to save and improve lives by empowering healthcare consumers. This statement is the blueprint for their market leadership in the Health Savings Account (HSA) space and explains why their fiscal year 2025 results were so strong.

The mission's significance is evident in the numbers. For the fiscal year ended January 31, 2025, HealthEquity reported total revenue of $1.20 billion, marking a 20% increase over the previous year. This growth isn't accidental; it's the direct result of a mission-driven focus on connecting health and wealth for millions of Americans. You can dive deeper into the operational mechanics and history that built this foundation by reading HealthEquity, Inc. (HQY): History, Ownership, Mission, How It Works & Makes Money.

Component 1: To Save Lives-Fostering Financial Wellness

When HealthEquity talks about saving lives, they are talking about financial security-the kind that prevents a medical bill from becoming a financial catastrophe. This is where the core product, the Health Savings Account (HSA), comes in. It's a triple-tax-advantaged account (contributions are tax-deductible, growth is tax-free, and withdrawals for qualified medical expenses are tax-free) that acts as a critical financial buffer.

The commitment to saving is best seen in the scale of assets they manage. As of January 31, 2025, HealthEquity's Total HSA Assets reached $32.1 billion, a substantial 27% increase year-over-year. This massive pool of assets is the collective savings of healthcare consumers, providing them with a defintely stronger financial footing. Here's the quick math: with 9.9 million total HSAs under custody as of the end of FY2025, the average HSA asset balance is a key indicator of consumer financial health.

The company's core value of Do the right thing guides this component, ensuring the focus remains on the member's long-term financial interest, not just transactional revenue. They are building lasting wealth for healthcare costs.

Component 2: To Improve Lives-Driving Quality and Efficiency

Improving lives in the context of healthcare finance means simplifying a notoriously complex, frustrating process. This is where HealthEquity's investment in technology and service quality directly supports the mission. You can't improve a life if your service makes it harder to access your own money.

The company is making aggressive moves in digital innovation to deliver on this promise. For example, their Expedited Claims AI streamlines the reimbursement process, allowing members to save an average of 70% of the time typically spent on claims entry, with over half of all claims processed in under two minutes. That's a tangible improvement in the member experience. Also, the deployment of new agentic AI capabilities in late 2025 is designed to make support faster and more intuitive, removing the friction of traditional phone menus.

This focus aligns perfectly with their core value to Be Remarkable in service. The commitment to quality is evident in the growth of accounts with investment options; HSAs with investments grew by 23% to 753,000 in FY2025, showing members are actively engaging with the platform to grow their savings. Better technology means better outcomes.

Component 3: By Empowering Healthcare Consumers-Scale and Access

Empowerment is the action verb of the mission statement, representing HealthEquity's strategic goal of putting individuals in control of their healthcare spending and saving decisions. This requires scale and a comprehensive suite of tools, which they achieve through their Total Solution. The sheer size of their network ensures broad access to their platform.

As of January 31, 2025, the company administered 17.0 million Total Accounts, which includes both HSAs and other consumer-directed benefits (CDBs) like Flexible Spending Accounts (FSAs) and Health Reimbursement Arrangements (HRAs). This scale is critical because it allows them to offer a single, integrated platform for all health-related financial needs.

This component is supported by the core values of Make a difference and Celebrate people. The goal is to make a difference by expanding access and celebrating the individual's ability to navigate their own health-wealth journey. The CEO has stated the long-term vision is to make HSAs more common than 401(k)s by 2030, which is a powerful statement about their commitment to consumer empowerment.

• Total Accounts reached 17.1 million by July 31, 2025.
• Total HSAs grew to 10.0 million by July 31, 2025.
• HSA Assets with investments grew to $16.1 billion by July 31, 2025.

Empowerment is about giving people the tools and the confidence to use them.

HealthEquity, Inc. (HQY) Vision Statement

You're looking at HealthEquity, Inc. (HQY) not just as a stock, but as a business model, and that means understanding its core purpose. The direct takeaway is that HQY's vision is a clear, two-pronged strategy: dominate the platform space and normalize Health Savings Accounts (HSAs) as a primary savings vehicle. This is a powerful, long-term focus that grounds their recent financial success.

In fiscal year 2025, HQY reported total revenue of $1.20 billion, a jump of 20% from the prior year, showing this strategy is working. Their vision is simple: to be the leading platform connecting health and wealth. That means moving beyond just being an HSA administrator and becoming the central hub for all consumer-directed benefits (CDBs) and health-related finances.

This isn't just corporate fluff; it's a clear market objective. They want to make HSAs as widespread and popular as retirement accounts by 2030. Think about the potential: if the HSA becomes the new 401(k), the growth runway is defintely long. This focus is why their Total HSA Assets grew to a massive $32.1 billion in fiscal 2025, a 27% year-over-year increase. That's a huge number, and it's the engine for their custodial revenue, which was $545.4 million of that total revenue.

The 2030 Goal: HSA as the New 401(k)

The explicit 2030 target-making HSAs as common as retirement accounts-is the clearest strategic signal you can get. It maps directly to their core business model, which thrives on both the number of accounts and the assets held within them. More accounts mean more service and interchange revenue, and more assets mean higher custodial revenue.

Here's the quick math on their reach: HQY finished fiscal 2025 with 9.9 million HSAs, a 14% increase, and 17.0 million total accounts, which includes other CDBs. The opportunity is in getting those 9.9 million HSA holders to invest more of their money, moving the cash portion (which was $17.4 billion of the total HSA assets) into investments (which were $14.7 billion). That transition is a key driver for future growth and margin expansion, and it's what the 'connecting health and wealth' vision is all about.

The Mission: Empowering Healthcare Consumers

The mission statement is the day-to-day work that supports the vision: to save and improve lives by empowering healthcare consumers. This is an empathetic, active-voice statement. It's not just about administering accounts; it's about giving individuals control over their healthcare spending and saving decisions.

This mission drives their technology investments, which are critical for staying competitive. They are making rapid progress with their AI and mobile-first transformation, for example, using AI-powered claims adjudication to process reimbursements faster and cut service costs. This focus on efficiency and better member experience is what keeps their 9.9 million members engaged. If you want to dive deeper into how this mission translates into their financial structure, you can check out HealthEquity, Inc. (HQY): History, Ownership, Mission, How It Works & Makes Money.

The Core Values: Living the Purple Values

HQY calls its core values the 'Purple Values,' which is a simple way to define their corporate culture. These values are the behavioral guardrails for their 4,000+ employees and are crucial for managing sensitive financial and health data.

• Do the right thing: Act ethically with integrity and honesty, even when it's hard.
• Be Remarkable: Deliver exceptional service to members, clients, and partners.
• Make a difference: Impact communities and be the best at connecting health and wealth.
• Celebrate people: Drive personal growth and recognize wins.

These values are directly tied to risk management and customer loyalty. In a business that holds $32.1 billion of customer assets, ethical behavior is non-negotiable. The focus on being 'Remarkable' helps maintain the high retention rates necessary to keep growing their HSA base. The fact that their Net Income surged 74% to $96.7 million in fiscal 2025 suggests the operational efficiency and customer trust built on these values are paying off.

The opportunity here is clear: HQY is executing a mission that drives a massive market opportunity. The growth in HSAs is a macro trend, and HQY is the largest independent custodian, leveraging their mission and values to capture that growth. Your next step should be to model how their projected FY2026 revenue of $1.280-$1.305 billion and net income of $164-$179 million will be impacted by interest rate changes, as custodial revenue remains a major component.

HealthEquity, Inc. (HQY) Core Values

You need to know where a company's head is, especially when they are managing your health savings account (HSA) investments. For HealthEquity, Inc., their operating principles-the Purple Values-are more than just posters on a wall; they are the engine driving their financial and technological strategy. This clarity is why the company reported a stellar fiscal year 2025, with revenue hitting $1.20 billion, a 20% jump from the previous year. That's a significant move, and it shows their values translate directly into results.

If you are exploring their strategic position, it's worth checking out Exploring HealthEquity, Inc. (HQY) Investor Profile: Who's Buying and Why? for a deeper dive into the institutional ownership. But first, let's look at the four core values that underpin their success in the consumer-directed benefits (CDB) space.

Do the Right Thing

This value is about integrity and honesty, even when the path isn't easy. In the financial world, this means transparent pricing and ethical handling of client assets-something that is defintely non-negotiable for an HSA custodian. It's the foundation for the trust needed to manage over $32.1 billion in total HSA assets as of the close of fiscal year 2025. This focus on ethical practice is what allows them to maintain a strong financial position.

The commitment to doing the right thing is visible in their financial discipline. The company's net income for the fiscal year ended January 31, 2025, was $96.7 million, a 74% increase year-over-year. That kind of growth, paired with an Adjusted EBITDA of $471.8 million, signals a business that is scaling responsibly, not just chasing top-line revenue at all costs. Here's the quick math: strong ethics equal less regulatory risk and more consistent performance.

• Act ethically with integrity and honesty.
• Prioritize member trust over short-term gains.
• Ensure transparent financial reporting.

Be Remarkable

Being remarkable means delivering exceptional service to members, clients, and partners. In a high-volume, high-stakes sector like healthcare finance, this translates to leveraging technology to simplify complex interactions. They don't just want to be good; they want to be the best at connecting health and wealth.

A concrete example of this is the recent deployment of new agentic AI capabilities in November 2025, which powers natural, conversational support across voice and digital channels. This move is designed to remove the friction of traditional phone menus, giving members immediate, action-oriented assistance. They are also seeing tangible benefits from an AI-powered claims adjudication system that processes reimbursements faster and cuts servicing costs. It's a clear investment in the member experience, helping to drive the total number of HSAs to 9.9 million in FY 2025, a 14% increase.

Make a Difference

The mission of HealthEquity is to 'save and improve lives by empowering healthcare consumers,' and this value is the operational arm of that mission. It's about having a real impact on their members' financial well-being and the broader community. For an investor, you want to see that mission translating into measurable growth in consumer engagement, not just account volume.

The company is making a difference by encouraging investment adoption within HSAs, which is crucial for long-term savings (a health savings account is a triple-tax advantaged investment vehicle, after all). As of the end of fiscal 2025, the number of HSAs with investments grew to 753,000, a 23% increase year-over-year. This shows their platform and educational efforts are working to move members from simply saving cash to actively investing for their future healthcare costs. They are making HSAs a core part of personal wealth strategy.

Celebrate People

This value focuses internally, recognizing that a remarkable member experience starts with a celebrated team. It's about driving personal growth, recognizing wins, and encouraging authenticity and diverse expression. If your team is stressed, your service will suffer, so this is a key operational risk mitigator.

HealthEquity's commitment to its people is validated by external recognition. In April 2025, the company was named a USA Today Top Workplace for 2025, ranking 23rd nationwide among large companies. This is their fourth consecutive year on the list. A major factor is their flexible, remote-first approach, which allows over 90% of teammates to work primarily from home, supporting work-life harmony. They offer benefits like an unlimited PTO program for salaried teammates (MyTime) and comprehensive wellness programs, which directly supports a culture of belonging and high-quality service.