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HealthEquity HQY Service revenue — Total Revenue

Other product segments

Custodial revenue
$174.33M+11.4%
Interchange revenue
$57.38M+5.1%

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Other financials

Income statement

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Revenue$354.6M+7.2%
Gross profit$256.3M+14.3%
Operating income$103.0M+23.9%
Net income$69.4M+28.8%
EPS (diluted)$0.82+34.4%

Balance sheet

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Cash & equivalents$265.4M-7.8%
Total debt$984.7M-11.0%
Total equity$2.0B-3.6%
Total assets$3.3B-3.2%

Cash flow

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Operating cash flow$97.5M+50.6%
CapEx$362.0K+321%
Free cash flow$97.2M+50.3%

Valuation

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Market cap$8.73B+11.0%
Enterprise value$9.45B+9.7%
P/E37.8×-16.1×
P/S6.5×+0.3×

Profitability

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Gross margin70.7%+5.2pp
Operating margin25.6%+9.2pp
Net margin17.3%+7.5pp
FCF margin36.5%+9.3pp

Returns & leverage

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Return on equity11.1%+5.3pp
Debt / equity0.5×0.0×
Current ratio3.4×-0.6×

Where this comes from

Reported directly by HealthEquity in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: HealthEquity’s 10-Q, filed May 28, 2026.

Filed
May 28, 2026, 4:04 PM EDT
Fiscal quarter
Q1 FY2027
Calendar quarter
Q2 2026
Accession
0001428336-26-000028
(in thousands, except per share data)Three months ended April 30, 2026Three months ended April 30, 2025
Revenue
Service revenue$122,932$119,784
Custodial revenue174,334156,455
Interchange revenue57,37554,605
Total revenue354,641330,844
Cost of revenue
Service costs78,32688,005
Custodial costs11,65510,747

Item 1. Financial statements

FAQ

What is HealthEquity's service revenue — total revenue?
HealthEquity (HQY) reported service revenue — total revenue of $122.93M in Q1 2026.
How has HealthEquity's service revenue — total revenue changed year-over-year?
HealthEquity's service revenue — total revenue increased by 2.6% year-over-year, from $119.78M to $122.93M.
What is the long-term trend for HealthEquity's service revenue — total revenue?
Over 4 years (2022 to 2026), HealthEquity's service revenue — total revenue has grown at a 2.3% compound annual growth rate (CAGR), from $443.61M to $485.02M.
What does service revenue — total revenue mean?
This metric represents the total gross income generated specifically from the service-based offerings within the company's business portfolio. It captures the inflow of economic benefits from providing administrative, payment processing, or advisory services to clients and consumers. Tracking this figure helps investors assess the scale and growth trajectory of the company's core service-oriented business model.

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