# Healthequity, Inc.: overview

HQY · Nasdaq · CIK 1428336 · [Industrials](/sectors/industrials.md) · fiscal year ends Jan 31

Pages: [Overview](/companies/hqy.md) · [Financials](/companies/hqy/financials.md) · [Filings](/companies/hqy/filings.md) · [Insiders](/companies/hqy/insiders.md)

Latest reported revenue: [$350.7m](/filings/0001428336-26-000041.md) for Q2 FY2027, three months to 2026-07-31, from the 10-Q filed Aug 27, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001428336-26-000041).

## Last eight quarters

| Line item | Unit | Q3 FY2025 (2024-10-31) | Q4 FY2025 (2025-01-31) | Q1 FY2026 (2025-04-30) | Q2 FY2026 (2025-07-31) | Q3 FY2026 (2025-10-31) | Q4 FY2026 (2026-01-31) | Q1 FY2027 (2026-04-30) | Q2 FY2027 (2026-07-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [300](/filings/0001428336-25-000036.md) | [312 d](/filings/0001428336-26-000010.md) | [331](/filings/0001428336-26-000028.md) | [326](/filings/0001428336-26-000041.md) | [322](/filings/0001428336-25-000036.md) | [335 d](/filings/0001428336-26-000010.md) | [355](/filings/0001428336-26-000028.md) | [351](/filings/0001428336-26-000041.md) |
| Gross margin | % | [65.6%](/filings/0001428336-25-000036.md) | [60.6% d](/filings/0001428336-26-000010.md) | [67.8%](/filings/0001428336-26-000028.md) | [71.4%](/filings/0001428336-26-000041.md) | [70.8%](/filings/0001428336-25-000036.md) | [68.2% d](/filings/0001428336-26-000010.md) | [72.3%](/filings/0001428336-26-000028.md) | [73.5%](/filings/0001428336-26-000041.md) |
| Operating margin | % | [6.5%](/filings/0001428336-25-000036.md) | [13.5% d](/filings/0001428336-26-000010.md) | [25.1%](/filings/0001428336-26-000028.md) | [27.5%](/filings/0001428336-26-000041.md) | [24.4%](/filings/0001428336-25-000036.md) | [21.2% d](/filings/0001428336-26-000010.md) | [29.0%](/filings/0001428336-26-000028.md) | [28.1%](/filings/0001428336-26-000041.md) |
| Net margin | % | [1.9%](/filings/0001428336-25-000036.md) | [8.5% d](/filings/0001428336-26-000010.md) | [16.3%](/filings/0001428336-26-000028.md) | [18.4%](/filings/0001428336-26-000041.md) | [16.0%](/filings/0001428336-25-000036.md) | [14.9% d](/filings/0001428336-26-000010.md) | [19.6%](/filings/0001428336-26-000028.md) | [18.7%](/filings/0001428336-26-000041.md) |
| Diluted EPS | $ per share | [0.06](/filings/0001428336-25-000036.md) | not reported | [0.61](/filings/0001428336-26-000028.md) | [0.68](/filings/0001428336-26-000041.md) | [0.59](/filings/0001428336-25-000036.md) | not reported | [0.82](/filings/0001428336-26-000028.md) | [0.78](/filings/0001428336-26-000041.md) |
| Free cash flow | $m | [90.3 d](/filings/0001428336-25-000036.md) | [75.4 d](/filings/0001428336-26-000010.md) | [64.7](/filings/0001428336-26-000028.md) | [135 d](/filings/0001428336-26-000041.md) | [138 d](/filings/0001428336-25-000036.md) | [118 d](/filings/0001428336-26-000010.md) | [97.2](/filings/0001428336-26-000028.md) | [135 d](/filings/0001428336-26-000041.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2022 (2022-01-31) | FY2023 (2023-01-31) | FY2024 (2024-01-31) | FY2025 (2025-01-31) | FY2026 (2026-01-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [757](/filings/0001428336-24-000016.md) | [862](/filings/0001428336-25-000009.md) | [1,000](/filings/0001428336-26-000010.md) | [1,200](/filings/0001428336-26-000010.md) | [1,313](/filings/0001428336-26-000010.md) |
| Gross margin | % | [56.1%](/filings/0001428336-24-000016.md) | [57.1%](/filings/0001428336-25-000009.md) | [62.3%](/filings/0001428336-26-000010.md) | [64.8%](/filings/0001428336-26-000010.md) | [69.5%](/filings/0001428336-26-000010.md) |
| Operating margin | % | [(3.2%)](/filings/0001428336-24-000016.md) | [1.1%](/filings/0001428336-25-000009.md) | [11.8%](/filings/0001428336-26-000010.md) | [13.5%](/filings/0001428336-26-000010.md) | [24.6%](/filings/0001428336-26-000010.md) |
| Net margin | % | [(5.9%)](/filings/0001428336-24-000016.md) | [(3.0%)](/filings/0001428336-25-000009.md) | [5.6%](/filings/0001428336-26-000010.md) | [8.1%](/filings/0001428336-26-000010.md) | [16.4%](/filings/0001428336-26-000010.md) |
| Diluted EPS | $ per share | [(0.53)](/filings/0001428336-24-000016.md) | [(0.31)](/filings/0001428336-25-000009.md) | [0.64](/filings/0001428336-26-000010.md) | [1.09](/filings/0001428336-26-000010.md) | [2.46](/filings/0001428336-26-000010.md) |
| Free cash flow | $m | [132](/filings/0001428336-24-000016.md) | [147](/filings/0001428336-25-000009.md) | [241](/filings/0001428336-26-000010.md) | [338](/filings/0001428336-26-000010.md) | [455](/filings/0001428336-26-000010.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/hqy/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $1.02bn | 11,277,914 |  | Added +745,520 |
| [WASATCH ADVISORS LP](/funds/814133.md) | 2026-06-30 | $719.0m | 7,960,735 |  | Added +757,801 |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $410.7m | 4,547,219 |  | Added +2,061,306 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $366.5m | 4,057,643 |  | Reduced −105,950 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $328.8m | 3,640,776 |  | Reduced −183,028 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $292.7m | 3,241,046 |  | Added +141,149 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $214.5m | 2,374,467 |  | Added +114,821 |
| [AQR CAPITAL MANAGEMENT LLC](/funds/1167557.md) | 2026-06-30 | $176.1m | 1,999,209 |  | Reduced −93,014 |
| [DIMENSIONAL FUND ADVISORS LP](/funds/354204.md) | 2026-06-30 | $168.8m | 1,869,036 |  | Added +241,997 |
| [WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC](/funds/1644956.md) | 2026-06-30 | $160.2m | 1,773,227 |  | Added +113,611 |

## Recent filings

[All 1,199 filings](/companies/hqy/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-09 | 21:00 ET | [8-K](/filings/0001104659-26-115084.md) | 5.02 Departure or appointment of officers or directors | 0001104659-26-115084 |
| 2026-09-30 | 13:02 ET | [8-K](/filings/0001428336-26-000045.md) | 5.02 Departure or appointment of officers or directors; 7.01 Regulation FD disclosure | 0001428336-26-000045 |
| 2026-08-27 | 12:04 ET | [10-Q](/filings/0001428336-26-000041.md) | Quarterly report, period 2026-07-31 | 0001428336-26-000041 |
| 2026-08-27 | 12:02 ET | [8-K](/filings/0001428336-26-000040.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001428336-26-000040 |
| 2026-06-26 | 20:07 ET | [8-K](/filings/0001428336-26-000034.md) | 5.07 Shareholder vote results; 9.01 Financial statements and exhibits | 0001428336-26-000034 |
| 2026-05-28 | 20:04 ET | [10-Q](/filings/0001428336-26-000028.md) | Quarterly report, period 2026-04-30 | 0001428336-26-000028 |
| 2026-05-28 | 20:03 ET | [8-K](/filings/0001428336-26-000027.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001428336-26-000027 |
| 2026-05-13 | 21:25 ET | [DEF 14A](/filings/0001428336-26-000022.md) | Proxy statement, period 2026-01-31 | 0001428336-26-000022 |
| 2026-05-08 | 20:01 ET | [8-K](/filings/0001428336-26-000016.md) | 5.02 Departure or appointment of officers or directors; 9.01 Financial statements and exhibits | 0001428336-26-000016 |
| 2026-04-06 | 21:01 ET | [8-K](/filings/0001428336-26-000014.md) | 5.02 Departure or appointment of officers or directors; 9.01 Financial statements and exhibits | 0001428336-26-000014 |

## Latest annual report

[Form 10-K for the fiscal year ended Jan 31, 2026](/filings/0001428336-26-000010.md), filed Mar 17, 2026.

## Forecast league

Not in this season’s league. [This season’s league](/leagues.md)

## About the filer

- CIK: 1428336
- Tickers: HQY
- Exchange: Nasdaq
- SIC code: 7389 Services-Business Services, NEC
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:39 ET. No prices; not investment advice.