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HealthEquity HQY Q3 2026 earnings

Reported December 3, 2025 · After market close

Revenue$322.2MBeat by $1.5MDiluted EPS$1.01Beat by $0.10
Revenue estimate$320.6M
EPS estimate$0.91

Next report

Sep 1, 2026 (in 2 months)
Revenue estimate$348.9M
EPS estimate$1.19

Financials

Q3 2026

Income statement

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Revenue$322.2M+7.2%
Gross profit$228.1M+15.8%
Operating income$78.7M+301%
Net income$51.7M+806%
EPS (diluted)$0.59+883%

Balance sheet

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Cash & equivalents$309.3M-4.0%
Total debt$1.0B-9.4%
Total equity$2.1B+0.4%
Total assets$3.4B-2.6%

Cash flow

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Operating cash flow$138.6M+53.0%
CapEx$784.0K+167%
Free cash flow$137.8M+52.7%

Valuation & ratios

Q3 2026

Valuation

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Market cap$8.15B+9.7%
Enterprise value$8.87B+7.6%
P/E42.5×-34.3×
P/S6.3×-0.1×

Profitability

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Gross margin67.7%+2.4pp
Operating margin22.7%+8.9pp
Net margin14.9%+6.5pp
FCF margin32%+2.5pp

Returns & leverage

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Return on equity9%+4.3pp
Debt / equity0.5×-0.1×
Current ratio4.1×+0.9×

Segments

By product

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Custodial revenue$159.1M+12.9%
Service revenue$120.3M+0.9%
Interchange revenue$42.8M+6.2%

Versus estimates

Revenue

Q1 2027$354.6MBeat by $2.6MQ4 2026$334.6MBeat by $2.3M
Q3 2026$322.2MBeat by $1.5M
Q2 2026$325.8MBeat by $5.1MQ1 2026$330.8MBeat by $8.6MQ4 2025$311.8MBeat by $6.0M

Diluted EPS

Q1 2027$1.24Beat by $0.13Q4 2026$0.95Beat by $0.06
Q3 2026$1.01Beat by $0.10
Q2 2026$1.08Beat by $0.17Q1 2026$0.97Beat by $0.16Q4 2025$0.69Miss by $0.02

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Questions, answered.

When did HealthEquity report Q3 2026 earnings?
HealthEquity (HQY) reported Q3 2026 earnings on December 3, 2025 after market close.
What were HealthEquity's Q3 2026 revenue and EPS?
HealthEquity reported revenue of $322.2M and diluted EPS of $1.01 for Q3 2026.
Did HealthEquity beat estimates in Q3 2026?
Revenue beat the consensus estimate of $320.6M by $1.5M. EPS beat the consensus estimate of $0.91 by $0.10.
How did HealthEquity's Q3 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 7.2% from $300.4M a year earlier and diluted EPS grew 29.5% from $0.78.
Where can I find HealthEquity's Q3 2026 SEC filings?
You can read the 8-K earnings release (0001428336-25-000035) and the 10-Q periodic report (0001428336-25-000036) directly on SEC EDGAR. The filing index links above go to sec.gov.