HQY on Nasdaq
HEALTHEQUITY, INC.
In its 2026 annual report the company says: “We are a leader and an innovator in providing technology-enabled services that empower consumers to make healthcare saving, spending, and investing decisions. We use our innovative technology to manage consumers' tax-advantaged health savings accounts and other consumer-directed benefits offered by employers, including flexible spending accounts and health reimbursement arrangements, and to administer Consolidated Omnibus Budget Reconciliation Act, commuter and other benefits.”4 It is headquartered in Draper, Utah.1 Its shares trade on Nasdaq under the symbol HQY.1
Price unavailable
Last updated Oct 21, 2026.
Overview
Compare with MoneyGram, QuinStreet or Envestnet, or pick any stock.
- TickerHQY on Nasdaq1
- IndustryServices-Business Services, NEC1
- HeadquartersDraper, Utah1
- Incorporated inDE3
- Business address15 West Scenic Pointe Drive, Suite 100, Draper, Ut 840203
- Filer categoryLarge accelerated filer3
See how the biggest companies compare on our leaderboards
We are a leader and an innovator in providing technology-enabled services that empower consumers to make healthcare saving, spending, and investing decisions. We use our innovative technology to manage consumers' tax-advantaged health savings accounts (“HSAs”) and other consumer-directed benefits (“CDBs”) offered by employers, including flexible spending accounts and health reimbursement arrangements (“FSAs” and “HRAs”), and to administer Consolidated Omnibus Budget Reconciliation Act (“COBRA”), commuter and other benefits. As part of our services, we provide consumers with payment processing services, personalized benefit information, access to healthcare solutions through our marketplace, and investment advice to grow their tax-advantaged healthcare savings. We believe the shift to greater consumer responsibility for healthcare costs will require a significant portion of consumers unde…4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2026
69.5%Gross margin2
24.6%Operating margin2
16.4%Net margin2
9.5%Revenue growth, 20262
10.2%Return on equity2
0.45×Debt to equity2
$455.1MFree cash flow2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Financial Service, Other brought in 48% of the revenue HEALTHEQUITY, INC. broke down this way in fiscal 2026.
Products and services by year
| Products and services | 2024 | 2025 | 2026 |
|---|---|---|---|
| Financial Service, Other | $386.6M | $545.4M | $636.8M |
| Service | $455.7M | $478.3M | $485.0M |
| Credit and Debit Card | $157.3M | $176.0M | $191.6M |
Where the money goes
Where each dollar of revenue went, fiscal 2026
- Cost of revenue30¢$400.3M
- Research and development20¢$262.5M
- Other costs28¢$373.2M
- Income tax5¢$62.2M
- Profit16¢$215.2M
Out of $1.3B in revenue.2
Where each dollar of operating cash went, fiscal 2026
- Capital spending0¢$2.0M
- Share buybacks65¢$299.3M
- Kept or used elsewhere34¢$155.9M
Out of $457.1M of cash from operations.2
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.2
| Period ending | 2026-01-31 | 2025-01-31 | 2024-01-31 |
|---|---|---|---|
| Total revenue | $1.3B | $1.2B | $999.6M |
| Total cost of revenue | $400.3M | $422.5M | $376.9M |
| Gross profit | $913.1M | $777.3M | $622.6M |
| Sales and marketing | $95.2M | $90.7M | $79.3M |
| Technology and development | $262.5M | $239.5M | $218.8M |
| General and administrative | $119.9M | $132.3M | $103.7M |
| Amortization of acquired intangible assets | $108.0M | $111.9M | $92.8M |
| Merger integration | $5.0M | $40.5M | $10.4M |
| Total operating expenses | $590.7M | $614.9M | $504.9M |
| Income from operations | $322.5M | $162.3M | $117.7M |
| Interest expense | -$57.1M | -$60.6M | -$55.5M |
| Other income, net | $12.1M | $14.3M | $12.8M |
| Total other expense | -$45.0M | -$46.3M | -$42.7M |
| Income before income taxes | $277.4M | $116.0M | $75.0M |
| Income tax provision | $62.2M | $19.3M | $19.3M |
| Net income | $215.2M | $96.7M | $55.7M |
| Basic (in usd per share) | $2.50 | $1.11 | $0.65 |
| Diluted (in usd per share) | $2.46 | $1.09 | $0.64 |
| Basic (in shares) | 86.1M shares | 86.9M shares | 85.6M shares |
| Diluted (in shares) | 87.5M shares | 88.8M shares | 87.0M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.2
| Period ending | 2026-01-31 | 2025-01-31 | 2024-01-31 | 2023-01-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $318.9M | $295.9M | ||
| Accounts receivable, net of allowance for doubtful accounts of $924 and $2,070 as of January 31, 2026 and 2025, respectively | $123.7M | $118.0M | ||
| Prepaid expenses and other current assets | $69.7M | $63.8M | ||
| Total current assets | $512.3M | $477.7M | ||
| Property and equipment, net | $3.2M | $3.2M | ||
| Operating lease right-of-use assets | $36.3M | $43.2M | ||
| Intangible assets, net | $1.1B | $1.2B | ||
| Goodwill | $1.6B | $1.6B | ||
| Other assets | $83.2M | $71.6M | ||
| Total assets | $3.4B | $3.4B | ||
| Accounts payable | $12.2M | $14.4M | ||
| Accrued compensation | $60.4M | $69.3M | ||
| Accrued liabilities | $74.4M | $62.6M | ||
| Operating lease liabilities | $9.9M | $10.0M | ||
| Total current liabilities | $156.8M | $156.3M | ||
| Long-term debt, net of issuance costs | $957.4M | $1.1B | ||
| Operating lease liabilities, non-current | $34.2M | $42.2M | ||
| Other long-term liabilities | $31.0M | $23.0M | ||
| Deferred tax liability | $93.7M | $55.8M | ||
| Total long-term liabilities | $1.1B | $1.2B | ||
| Total liabilities | $1.3B | $1.3B | ||
| Preferred stock, $0.0001 par value, 100,000 shares authorized, no shares issued and outstanding as of January 31, 2026 and 2025 | $0 | $0 | ||
| Common stock, $0.0001 par value, 900,000 shares authorized, 85,007 and 86,536 shares issued and outstanding as of January 31, 2026 and 2025, respectively | $8.0K | $9.0K | ||
| Additional paid-in capital | $1.9B | $1.9B | ||
| Accumulated earnings | $195.9M | $209.3M | ||
| Accumulated other comprehensive loss | -$5.7M | $0 | ||
| Total stockholders equity | $2.1B | $2.1B | $2.0B | $1.9B |
| Total liabilities and stockholders equity | $3.4B | $3.4B | ||
| Accounts receivable, allowance for doubtful accounts | $924.0K | $2.1M | ||
| Preferred stock par value (in usd per share) | $0.00 | $0.00 | ||
| Preferred stock, shares authorized (in shares) | 100.0M shares | 100.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | ||
| Common stock, par value per share (in usd per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 900.0M shares | 900.0M shares | ||
| Common stock, shares issued (in shares) | 85.0M shares | 86.5M shares | ||
| Common stock, shares outstanding (in shares) | 85.0M shares | 86.5M shares |
| Period ending | 2026-01-31 | 2025-01-31 | 2024-01-31 | 2023-01-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $318.9M | $295.9M | ||
| Accounts receivable, net of allowance for doubtful accounts of $924 and $2,070 as of January 31, 2026 and 2025, respectively | $123.7M | $118.0M | ||
| Prepaid expenses and other current assets | $69.7M | $63.8M | ||
| Total current assets | $512.3M | $477.7M | ||
| Property and equipment, net | $3.2M | $3.2M | ||
| Operating lease right-of-use assets | $36.3M | $43.2M | ||
| Intangible assets, net | $1.1B | $1.2B | ||
| Goodwill | $1.6B | $1.6B | ||
| Other assets | $83.2M | $71.6M | ||
| Total assets | $3.4B | $3.4B | ||
| Accounts payable | $12.2M | $14.4M | ||
| Accrued compensation | $60.4M | $69.3M | ||
| Accrued liabilities | $74.4M | $62.6M | ||
| Operating lease liabilities | $9.9M | $10.0M | ||
| Total current liabilities | $156.8M | $156.3M | ||
| Long-term debt, net of issuance costs | $957.4M | $1.1B | ||
| Operating lease liabilities, non-current | $34.2M | $42.2M | ||
| Other long-term liabilities | $31.0M | $23.0M | ||
| Deferred tax liability | $93.7M | $55.8M | ||
| Total long-term liabilities | $1.1B | $1.2B | ||
| Total liabilities | $1.3B | $1.3B | ||
| Preferred stock, $0.0001 par value, 100,000 shares authorized, no shares issued and outstanding as of January 31, 2026 and 2025 | $0 | $0 | ||
| Common stock, $0.0001 par value, 900,000 shares authorized, 85,007 and 86,536 shares issued and outstanding as of January 31, 2026 and 2025, respectively | $8.0K | $9.0K | ||
| Additional paid-in capital | $1.9B | $1.9B | ||
| Accumulated earnings | $195.9M | $209.3M | ||
| Accumulated other comprehensive loss | -$5.7M | $0 | ||
| Total stockholders equity | $2.1B | $2.1B | $2.0B | $1.9B |
| Total liabilities and stockholders equity | $3.4B | $3.4B | ||
| Accounts receivable, allowance for doubtful accounts | $924.0K | $2.1M | ||
| Preferred stock par value (in usd per share) | $0.00 | $0.00 | ||
| Preferred stock, shares authorized (in shares) | 100.0M shares | 100.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | ||
| Common stock, par value per share (in usd per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 900.0M shares | 900.0M shares | ||
| Common stock, shares issued (in shares) | 85.0M shares | 86.5M shares | ||
| Common stock, shares outstanding (in shares) | 85.0M shares | 86.5M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.2
| Period ending | 2026-01-31 | 2025-01-31 | 2024-01-31 |
|---|---|---|---|
| Net income | $215.2M | $96.7M | $55.7M |
| Depreciation and amortization | $154.7M | $162.5M | $153.1M |
| Stock-based compensation | $73.1M | $96.4M | $77.2M |
| Amortization of debt issuance costs | $1.1M | $2.1M | $2.9M |
| Amortization of gains on derivatives | -$16.0K | $0 | $0 |
| Loss on extinguishment of debt | $0 | $1.6M | $1.2M |
| Deferred taxes | $39.7M | -$12.8M | -$14.0M |
| Accounts receivable | -$5.7M | -$13.1M | -$8.1M |
| Prepaid expenses and other current and non-current assets | -$12.7M | -$11.8M | -$32.8M |
| Operating lease right-of-use assets | $6.8M | $6.7M | $10.2M |
| Accrued compensation | -$8.8M | $17.8M | $3.0M |
| Accounts payable, accrued liabilities, and other current liabilities | $1.7M | $8.9M | -$204.0K |
| Operating lease liabilities, non-current | -$8.0M | -$7.8M | -$11.8M |
| Other long-term liabilities | $48.0K | -$7.2M | $6.6M |
| Net cash provided by operating activities | $457.1M | $339.9M | $242.8M |
| Purchases of software and capitalized software development costs | -$46.5M | -$51.1M | -$41.1M |
| Purchases of property and equipment | -$2.0M | -$2.1M | -$1.7M |
| Acquisitions of HSA portfolios | -$293.0K | -$452.2M | -$3.3M |
| Settlement of derivatives, net | $1.6M | $0 | $0 |
| Net cash used in investing activities | -$47.1M | -$505.5M | -$46.1M |
| Principal payments on long-term debt | -$100.0M | -$561.9M | -$54.4M |
| Repurchases of common stock | -$299.3M | -$121.5M | $0 |
| Proceeds from long-term debt | $0 | $736.9M | $0 |
| Payment of debt issuance costs | $0 | -$3.7M | $0 |
| Settlement of client-held funds obligation, net | $867.0K | -$1.6M | $865.0K |
| Proceeds from exercise of common stock options | $11.4M | $9.4M | $6.5M |
| Net cash provided by (used in) financing activities | -$387.0M | $57.6M | -$47.0M |
| Increase (decrease) in cash and cash equivalents | $23.0M | -$108.0M | $149.7M |
| Interest expense paid in cash | $52.2M | $58.6M | $49.6M |
| Income tax payments, net | $8.0M | $26.1M | $35.4M |
| Purchases of software and capitalized software development costs included in accounts payable, accrued liabilities, or accrued compensation | $4.3M | $6.0M | $3.1M |
| Purchases of property and equipment included in accounts payable or accrued liabilities | $16.0K | $45.0K | $263.0K |
| Repurchases of common stock included in accrued liabilities | $3.2M | $754.0K | $0 |
| Non-cash purchase consideration related to acquisitions of HSA portfolios | $0 | $20.3M | $0 |
| Settlement of derivatives included in other current assets | $2.5M | $0 | $0 |
| Exercise of common stock options receivable | $0 | $10.0K | $429.0K |
No quarter-by-quarter statement was filed.
Corporate structure
HEALTHEQUITY, INC. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of HEALTHEQUITY, INC.
- WASATCH ADVISORS LP Filed SCHEDULE 13G/A on HEALTHEQUITY, INC., latest Oct 9, 2026 (5 filings since Feb 10, 2022)
- VANGUARD PORTFOLIO MANAGEMENT LLC Filed SCHEDULE 13G/A on HEALTHEQUITY, INC., latest Jul 31, 2026 (2 filings since Apr 29, 2026)
- VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on HEALTHEQUITY, INC., latest Apr 30, 2026
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on HEALTHEQUITY, INC., latest Mar 27, 2026 (5 filings since Feb 10, 2022)
- FMR LLC Filed SCHEDULE 13G/A on HEALTHEQUITY, INC., latest Nov 5, 2025 (3 filings since Feb 9, 2023)
- BlackRock Filed SC 13G/A on HEALTHEQUITY, INC., latest Jan 23, 2024 (3 filings since Feb 7, 2022)
- Jackson Square Partners, LLC Filed SC 13G/A on HEALTHEQUITY, INC., latest Feb 11, 2022
- HEALTHEQUITY, INC. Draper, Utah
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What HEALTHEQUITY, INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $40.5M2 Jan 31, 2026 | $39.9M2 Jan 31, 2025 | +1.5% |
| Accumulated depreciation | $37.3M2 Jan 31, 2026 | $36.7M2 Jan 31, 2025 | +1.8% |
| Property and equipment, net | $3.2M2 Jan 31, 2026 | $3.2M2 Jan 31, 2025 | −1.9% |
| Operating-lease assets (leased space) | $36.3M2 Jan 31, 2026 | $43.2M2 Jan 31, 2025 | −15.9% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $318.9M2 Jan 31, 2026 | $295.9M2 Jan 31, 2025 | +7.8% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $1.6B2 Jan 31, 2026 | $1.6B2 Jan 31, 2025 | 0% |
| Intangible assets, net (excluding goodwill) | $1.1B2 Jan 31, 2026 | $1.2B2 Jan 31, 2025 | −8.9% |
| Finite-lived intangibles, gross | $2.0B2 Jan 31, 2026 | $2.0B2 Jan 31, 2025 | +2.3% |
| Accumulated amortization | $902.2M2 Jan 31, 2026 | $750.1M2 Jan 31, 2025 | +20.3% |
| Finite-lived intangibles, net | $1.1B2 Jan 31, 2026 | $1.2B2 Jan 31, 2025 | −8.9% |
Properties, in its own words
We do not currently own any of our facilities. Our principal executive offices are located in Draper, Utah. Since a majority of our workforce is now permanently working remotely, we no longer use portions of our office space and we have subleased, or are seeking opportunities to sublease, these offices.
Item 2 of the 10-K filed Mar 17, 2026.4
Leadership
Who has led HEALTHEQUITY, INC., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
201520202025
- Chief executive officerScott Cutler Jan 10, 2025 to now13
- Chief executive officerDarcy G. Mott Jul 30, 2014 to Jul 30, 201414
- PresidentScott Cutler Jan 10, 2025 to now13
- Chief financial officerJames M. Lucania Sep 7, 2023 to now15
- Chief financial officerTyson D. Murdock Apr 1, 2021 to Jul 7, 202316
- Chief financial officerDarcy G. Mott Aug 7, 2014 to Apr 1, 202117
- Chief operating officerEdward Bloomberg Aug 15, 2018 to Aug 3, 202218
Board members and other officers (33)
- EVP Chief Prod & Strat OfficerSunil Rajasekar May 12, 2026 to now19
- Chief Customer OfficerMichael Gathright Jul 14, 2025 to now20
- EVP, Chief Security OfficerSlim Aissi Jan 25, 2024 to Mar 29, 202421
- EVP, CHIEF COMMERCIAL OFFICERMichael Henry Fiore Mar 29, 2024 to now22
- EVP, Chief Technology OfficerElimelech Rosner Mar 17, 2022 to now23
- EVP Chief Marketing OfficerAdam J. Hostetter Apr 19, 2019 to Jul 1, 202124
- Exec VP, OperationsAngelique Christine Hill Apr 25, 2018 to Apr 7, 202125
- EVP Chief Security OfficerLarry L. Trittschuh Dec 19, 2018 to Jul 7, 202326
- EVP, Chief Marketing OfficerGary D. Robinson Apr 6, 2017 to Jun 11, 201827
- Executive VP of SalesWilliam Robert Otten May 11, 2017 to Aug 3, 202128
- Executive VP, GC & Corp. Secy.Delano Ladd Sep 12, 2016 to Jul 8, 202429
- Exec VP, OperationsJon Soldan Sep 2, 2015 to Mar 29, 201830
- Executive VP, CTO and CIOAshley Dreier Jul 30, 2014 to Apr 8, 202031
- Exec VP of Sales & MarketingEdward Craig Keohan Jul 30, 2014 to Jul 30, 201432
- Vice chairStephen Neeleman Jul 30, 2014 to now33
- Executive VP, GC & Corp. Secy.Frode Jensen Aug 7, 2014 to Mar 25, 201634
- Exec VP, Sales & MarketingMatthew Sydney Nov 3, 2014 to Nov 3, 201635
- Board memberWilliam Gassen Mar 30, 2026 to now36
- Board memberNoemie Clemence Heuland Sep 30, 2026 to now37
- Board memberScott Cutler Jan 10, 2025 to now13
- Board memberRajesh Natarajan May 4, 2022 to now38
- Board memberDebra Charlotte McCowan Apr 3, 2018 to now39
- Board memberGayle Furgurson Wellborn Sep 19, 2017 to now40
- Board memberAdrian T. Dillon Sep 6, 2016 to now41
- Board memberRobert W. Selander Oct 1, 2015 to now42
- Board memberFrank Corvino Jul 30, 2014 to Sep 26, 202343
- Board memberFrank Medici Jul 30, 2014 to Nov 20, 202044
- Board memberIan Sacks Jul 30, 2014 to Feb 3, 202345
- Board memberManu S. Rana Jul 30, 2014 to Aug 2, 201746
- Board memberMike Leavitt Jul 30, 2014 to Aug 2, 201747
- Board memberStephen Neeleman Jul 30, 2014 to now33
- Board memberEvelyn S. Dilsaver Aug 7, 2014 to now48
- General counselDelano Ladd Oct 7, 2024 to now49
Former names
- HEALTHEQUITY INCFeb 22, 2008 to Jun 6, 20193
Timeline
- Oct 9, 20268-K Executive or director change50
- Sep 30, 20268-K Executive or director change; Regulation FD disclosure51
- Aug 27, 20268-K Results of operations52
- Jun 26, 20268-K Shareholder vote53
- May 28, 20268-K Results of operations54
- May 8, 20268-K Executive or director change55
- Apr 6, 20268-K Executive or director change56
- Mar 30, 20268-K Executive or director change; Regulation FD disclosure57
- Mar 17, 20268-K Results of operations58
- Feb 17, 20268-K Results of operations59
- Jan 12, 20268-K Regulation FD disclosure60
- Dec 3, 20258-K Results of operations61
- Jan 10, 2025New chief executive Scott Cutler becomes CEO13
- Jul 30, 2014New chief executive Darcy G. Mott becomes CEO14
Calendar
Coming up
- Dec 2, 2026Reports results for the quarter ending Oct/2026 A year earlier it reported $0.82 a share, on Dec 3, 2025.62
When it reported results
- Aug 27, 2026Reported quarterly or annual results52
- May 28, 2026Reported quarterly or annual results54
- Mar 17, 2026Reported quarterly or annual results58
- Feb 17, 2026Reported quarterly or annual results59
- Dec 3, 2025Reported quarterly or annual results61
- Sep 2, 2025Reported quarterly or annual results63
- Jun 3, 2025Reported quarterly or annual results64
- Mar 18, 2025Reported quarterly or annual results65
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
522 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 66 major events, 280 insider forms, 20 large holders, 136 other. The latest 20:
- Oct 9, 20268-K EDGAR
- Oct 9, 2026SCHEDULE 13G/A EDGAR
- Oct 8, 20264 EDGAR
- Oct 8, 2026144 EDGAR
- Oct 8, 20264 EDGAR
- Oct 8, 2026144 EDGAR
- Oct 8, 20264 EDGAR
- Oct 8, 2026144 EDGAR
- Oct 8, 20264 EDGAR
- Oct 8, 2026144 EDGAR
- Oct 8, 20264 EDGAR
- Oct 8, 2026144 EDGAR
- Oct 8, 20264 EDGAR
- Oct 8, 2026144 EDGAR
- Sep 30, 20263 EDGAR
- Sep 30, 20268-K EDGAR
- Sep 18, 20264 EDGAR
- Aug 27, 2026S-8 EDGAR
- Aug 27, 202610-Q EDGAR
- Aug 27, 20268-K EDGAR
The 522 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
70 open-market trades by officers, directors and large owners since October 2021: 3 buys and 67 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 25, 2026 | DILLON ADRIAN TDirector | Sale | 7,632 | $104.61 | $798.4K | Form 4 |
| Jul 10, 2026 | Fiore Michael HenryEVP, CHIEF COMMERCIAL OFFICER | Sale | 2,354 | $95.00 | $223.6K | Form 4 |
| Jul 2, 2026 | Fiore Michael HenryEVP, CHIEF COMMERCIAL OFFICER | Sale | 2,470 | $95.00 | $234.7K | Form 4 |
| May 29, 2026 | Fiore Michael HenryEVP, CHIEF COMMERCIAL OFFICER | Sale | 3,142 | $95.00 | $298.5K | Form 4 |
| May 28, 2026 | Wellborn Gayle FurgursonDirector | Sale | 2,439 | $90.00 | $219.5K | Form 4 |
| May 28, 2026 | Ladd DelanoEVP, General Counsel | Sale | 7,500 | $90.00 | $675.0K | Form 4 |
| Dec 19, 2025 | Ladd DelanoEVP, General Counsel | Sale | 1,500 | $94.72 | $142.1K | Form 4 |
| Dec 18, 2025 | Rosner ElimelechEVP, CHIEF TECHNOLOGY OFFICER | Sale | 10,959 | $95.45 | $1.0M | Form 4 |
| Dec 12, 2025 | Wellborn Gayle FurgursonDirector | Sale | 4,339 | $98.03 | $425.4K | Form 4 |
| Nov 20, 2025 | Ladd DelanoEVP, General Counsel | Sale | 1,500 | $104.56 | $156.8K | Form 4 |
| Oct 20, 2025 | Ladd DelanoEVP, General Counsel | Sale | 1,500 | $92.07 | $138.1K | Form 4 |
| Oct 7, 2025 | Fiore Michael HenryEVP, CHIEF COMMERCIAL OFFICER | Sale | 1,781 | $88.21 | $157.1K | Form 4 |
| Sep 19, 2025 | Ladd DelanoEVP, General Counsel | Sale | 6,000 | $94.10 | $564.6K | Form 4 |
| Sep 5, 2025 | Dilsaver Evelyn SDirector | Sale | 3,461 | $93.30 | $322.9K | Form 4 |
| Jul 7, 2025 | Fiore Michael HenryEVP, CHIEF COMMERCIAL OFFICER | Sale | 1,794 | $101.73 | $182.5K | Form 4 |
| Jun 9, 2025 | Rosner ElimelechEVP, CHIEF TECHNOLOGY OFFICER | Sale | 13,000 | $111.37 | $1.4M | Form 4 |
| Jun 6, 2025 | Kessler Jon | Sale | 231,950 | $112.06 | $26.0M | Form 4 |
| Jun 6, 2025 | Rosner ElimelechEVP, CHIEF TECHNOLOGY OFFICER | Sale | 58,000 | $112.56 | $6.5M | Form 4 |
| Apr 9, 2025 | SELANDER ROBERT WDirector | Sale | 5,750 | $77.66 | $446.5K | Form 4 |
| Apr 4, 2025 | Fiore Michael HenryEVP, CHIEF COMMERCIAL OFFICER | Sale | 8,881 | $78.26 | $695.0K | Form 4 |
All 70 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- WASATCH ADVISORS LPSCHEDULE 13G/A, 5 filings Feb 10, 2022 to Oct 9, 202666
- VANGUARD PORTFOLIO MANAGEMENT LLCSCHEDULE 13G/A, 2 filings Apr 29, 2026 to Jul 31, 202667
- VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 30, 202668
- VANGUARD GROUP INCSCHEDULE 13G/A, 5 filings Feb 10, 2022 to Mar 27, 202669
- FMR LLCSCHEDULE 13G/A, 3 filings Feb 9, 2023 to Nov 5, 202570
- BlackRockSC 13G/A, 3 filings Feb 7, 2022 to Jan 23, 202471
- Jackson Square Partners, LLCSC 13G/A, 1 filing Feb 11, 202272
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2026 | Scott CutlerPresident and Chief Executive Officer | 56 | $775.0K | $13.6M73 |
| 2026 | James LucaniaExecutive Vice President and Chief Financial Officer | 47 | $575.0K | $5.2M73 |
| 2026 | Elimelech RosnerFormer Executive Vice President and Chief Technology Officer | $575.0K | $4.5M73 | |
| 2026 | Michael FioreExecutive Vice President and Chief Commercial Officer | 51 | $550.0K | $4.2M73 |
| 2026 | Delano LaddExecutive Vice President and General Counsel | 45 | $400.0K | $3.6M73 |
| 2026 | Stephen Neeleman, M.D.Founder and Vice Chairman | 58 | $491.7K | $3.5M73 |
| 2025 | Scott CutlerPresident and Chief Executive Officer | 56 | $55.1K | $8.3M73 |
| 2025 | Michael FioreExecutive Vice President and Chief Commercial Officer | 51 | $470.4K | $7.4M73 |
| 2025 | James LucaniaExecutive Vice President and Chief Financial Officer | 47 | $575.0K | $5.6M73 |
| 2025 | Elimelech RosnerFormer Executive Vice President and Chief Technology Officer | $570.9K | $4.9M73 | |
| 2025 | Delano LaddExecutive Vice President and General Counsel | 45 | $400.0K | $3.4M73 |
| 2025 | Stephen Neeleman, M.D.Founder and Vice Chairman | 58 | $450.0K | $2.9M73 |
| 2024 | James LucaniaExecutive Vice President and Chief Financial Officer | 47 | $233.2K | $5.2M73 |
| 2024 | Elimelech RosnerFormer Executive Vice President and Chief Technology Officer | $550.0K | $4.8M73 | |
| 2024 | Stephen Neeleman, M.D.Founder and Vice Chairman | 58 | $441.9K | $3.0M73 |
| 2024 | Delano LaddExecutive Vice President and General Counsel | 45 | $396.0K | $2.6M73 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 11,277,914 | $1.0B | 0.0% | +745,520 |
| Wasatch Advisors LP | 7,960,735 | $719.0M | 4.7% | +757,801 |
| Morgan Stanley | 4,547,219 | $410.7M | 0.0% | +2,061,306 |
| Vanguard Portfolio Management LLC | 4,057,643 | $366.5M | 0.0% | −105,950 |
| Vanguard Capital Management LLC | 3,640,776 | $328.8M | 0.0% | −183,028 |
| State Street Corp | 3,241,046 | $292.7M | 0.0% | +141,149 |
| Geode Capital Management, LLC | 2,374,467 | $214.5M | 0.0% | +114,821 |
| Aqr Capital Management LLC | 1,999,209 | $176.1M | 0.1% | −93,014 |
| Dimensional Fund Advisors LP | 1,869,036 | $168.8M | 0.0% | +241,997 |
| William Blair Investment Management, LLC | 1,773,227 | $160.2M | 0.5% | +113,611 |
| Fmr LLC | 1,538,387 | $138.9M | 0.0% | +403,454 |
| Brown Advisory Inc | 1,372,624 | $124.0M | 0.2% | −40,160 |
| Clearbridge Investments, LLC | 1,296,765 | $117.1M | 0.1% | −13,207 |
| Charles Schwab Investment Management Inc | 1,188,902 | $107.4M | 0.0% | +13,563 |
| Greenhouse Funds LLLP | 1,183,024 | $106.9M | 5.6% | −74,830 |
| Geneva Capital Management LLC | 1,149,680 | $103.8M | 2.4% | −24,390 |
| Bank Of America Corp /de/ | 1,146,735 | $103.6M | 0.0% | +284,727 |
| Jpmorgan Chase & Co | 1,158,837 | $102.1M | 0.0% | −24,574 |
| DAVENPORT & Co LLC | 1,087,218 | $98.2M | 0.5% | +71,784 |
| Northern Trust Corp | 1,072,119 | $96.8M | 0.0% | +35,945 |
| Goldman Sachs Group Inc | 1,007,434 | $91.0M | 0.0% | +206,616 |
| Arrowstreet Capital, Limited Partnership | 965,807 | $87.2M | 0.0% | +963,026 |
| Atalan Capital Partners, LP | 915,270 | $82.7M | 5.1% | +31,600 |
| Loomis Sayles & Co L P | 908,554 | $82.1M | 0.1% | −23,352 |
| Jupiter Topco LLC | 872,972 | $78.8M | 0.0% | New |
13F reports cover disclosed long positions in U.S. stocks only.
Members of Congress who traded it
24 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Jul 10, 2026 | Gilbert Ray Cisneros, Jr.Democratic, House | Buy | $1,001 - $15,000 | −4.2% | Report |
| Jun 30, 2026 | Gilbert Ray Cisneros, Jr.Democratic, House | Buy | $1,001 - $15,000 | −0.9% | Report |
| May 29, 2026 | Gilbert Ray Cisneros, Jr.Democratic, House | Buy | $1,001 - $15,000 | +3.1% | Report |
| Jun 17, 2025 | Lisa C. McClainRepublican, House | Sale | $1,001 - $15,000 | +36.7% | Report |
| Jun 16, 2025 | Gilbert Ray Cisneros, Jr.Democratic, House | Partial sale | $1,001 - $15,000 | +36.5% | Report |
| Jun 11, 2025 | Lisa C. McClainRepublican, House | Buy | $1,001 - $15,000 | −39.9% | Report |
| Jan 13, 2025 | Robert P. Bresnahan, Jr.Republican, House | Sale | $1,001 - $15,000 | +41.9% | Report |
| Nov 7, 2024 | Josh GottheimerDemocratic, House | Partial sale | $1,001 - $15,000 | +34.4% | Report |
| Jun 21, 2024 | Josh GottheimerDemocratic, House | Partial sale | $1,001 - $15,000 | +31.1% | Report |
| Jan 19, 2024 | Blake D. MooreRepublican, House | Sale | $1,001 - $15,000 | +33.5% | Report |
| Jan 19, 2024 | Blake D. MooreRepublican, House | Sale | $1,001 - $15,000 | +33.5% | Report |
| Apr 10, 2023 | Daniel S. GoldmanDemocratic, House | Sale | $15,001 - $50,000 | +27.8% | Report |
| Jan 10, 2022 | Josh GottheimerDemocratic, House | Buy | $1,001 - $15,000 | +21.0% | Report |
| Dec 9, 2021 | Josh GottheimerDemocratic, House | Partial sale | $1,001 - $15,000 | −54.4% | Report |
| May 12, 2021 | Blake D. MooreRepublican, House | Buy | $1,001 - $15,000 | −64.7% | Report |
| May 11, 2021 | Blake D. MooreRepublican, House | Buy | $1,001 - $15,000 | −58.1% | Report |
| Apr 30, 2021 | Blake D. MooreRepublican, House | Buy | $1,001 - $15,000 | −63.2% | Report |
| Mar 26, 2021 | Blake D. MooreRepublican, House | Buy | $1,001 - $15,000 | −62.7% | Report |
| Jul 17, 2020 | Gilbert Ray Cisneros, Jr.Democratic, House | Buy | $1,001 - $15,000 | −81.1% | Report |
| Jul 9, 2020 | Josh GottheimerDemocratic, House | Buy | $1,001 - $15,000 | −80.4% | Report |
| Apr 7, 2020 | Gilbert Ray Cisneros, Jr.Democratic, House | Buy | $1,001 - $15,000 | −90.0% | Report |
| Apr 3, 2020 | Josh GottheimerDemocratic, House | Buy | $1,001 - $15,000 | −85.8% | Report |
| Mar 31, 2020 | Gilbert Ray Cisneros, Jr.Democratic, House | Buy | $1,001 - $15,000 | −116.6% | Report |
| Mar 26, 2020 | Josh GottheimerDemocratic, House | Buy | $1,001 - $15,000 | −131.5% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
SEC filer profile
How HEALTHEQUITY, INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARHEALTHEQUITY, INC.1
- CIK0001428336
- Employer ID (EIN)52-23831664
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
- Incorporated inDelaware4
- Fiscal year endsJanuary 311
- Industry code (SIC)7389 Services-Business Services, NEC1
- SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
- Business address15 West Scenic Pointe Drive, Suite 100, Draper, UT 840201
- Phone801-727-10001
- Shares outstanding82,715,296 as of Aug 20, 202611
- Public float$7.0B as of Jul 31, 20254
- AuditorPricewaterhouseCoopers LLP, Salt Lake City, Utah PCAOB ID 238; it also attests to the company’s internal control over financial reporting4
- On EDGAR sinceFeb 22, 20081
- Filings1,217 in all: 4 (683), 8-K (160), 144 (99), 3 (46), 10-Q (37), SC 13G/A (32), S-8 (15), DEFA14A (13)1
All 39 form types
10-K (12), DEF 14A (12), S-8 POS (12), 4/A (10), SC 13G (10), UPLOAD (10), CORRESP (9), 424B5 (8), ARS (5), SCHEDULE 13G/A (5), 424B4 (4), S-1/A (4), S-3ASR (4), 8-K/A (3), 3/A (2), 5 (2), DRSLTR (2), EFFECT (2), REGDEX (2), S-1 (2), SCHEDULE 13G (2), 424B3 (1), 8-A12B (1), CERTNAS (1), D (1), DRS (1), DRS/A (1), FWP (1), PRE 14A (1), REGDEX/A (1), S-1MEF (1)
- Latest filingsAnnual report (10-K) Mar 17, 2026
Quarterly report (10-Q) Aug 27, 2026
Proxy statement (DEF 14A) May 13, 2026
Latest 8-K (8-K) Oct 9, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common stock, par value $0.0001 per share | HQY | The NASDAQ Global Select Market |
From the cover page of the 10-K filed Mar 17, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks HEALTHEQUITY, INC. names in Item 1A of its 10-K filed Mar 17, 2026: 43 risks under these headings, as written.4
- Risks relating to our business and industry
- Any diminution in, elimination of, or change in the availability of tax benefits for HSAs and other CDBs would materially adversely affect us.
- Failure to adequately place and safeguard HSA cash and Client-held funds, or the failure of any of our insurance company partners or Depository Partners, could materially and adversely affect our business, financial condition, and results of operations.
- Failure to adequately manage the liquidity of the custodial assets held by our insurance company partners and Depository Partners could materially and adversely affect our business, financial condition, and results of operations.
- A decline in interest rates would reduce our income on our HSA Assets and Client-held funds and our ability to attract HSA contributions.
- A decline in the value of invested HSA Assets would adversely affect our results of operations.
- If we are not successful in adapting to our rapidly evolving industry, our growth may be limited, and our business may be adversely affected.
- Any diminution in the use of HSAs or other CDBs would materially adversely affect us.
- The expanding use or anticipated use of AI technologies, including generative AI, by us or third parties, may increase or create new operational and competitive risks.
- We may be unable to compete effectively against our current and future competitors.
- Developments in the rapidly changing healthcare industry could adversely affect our business.
- If our members do not continue to utilize our payment cards, our results of operations, business, and prospects would be materially adversely affected.
The other 32 risks
- If we fail to operate our marketplace effectively, if our Network Partners, Clients, or members respond negatively to our marketplace, or if our marketplace partners, products, or services are disrupted, our business may be adversely affected.
- Failure to maintain effective internal control over financial reporting could have a material adverse effect on our reputation, results of operations, and financial condition.
- Data security, technological, and intellectual property risks
- Cyber attacks, including ransomware attacks, or other privacy or data security incidents could materially adversely impact our business.
- Fraudulent activity, whether involving member accounts or our third-party service providers, has led, and could continue to lead, to financial and reputational damage to us and could reduce the use and acceptance of our products and services.
- We rely on software licensed from third parties that may be difficult to replace or that could cause errors or failures of our technology platforms that could lead to lost customers or harm to our reputation.
- Developing and implementing new and updated applications, features, and services for our technology platforms may be more difficult than expected, may take longer and cost more than expected, or may result in the platforms not operating as expected.
- Disruptions of service at our facilities, our servers, our third-party data centers, or our cloud service providers have interrupted and delayed our customers’ access to our products and services and will be harmful if repeated.
- Our technology platforms may link to or utilize open source software, and any failure to comply with the terms of one or more of these open source licenses could negatively affect our business.
- Legal and regulatory risks
- The healthcare regulatory and political framework is uncertain and evolving, and we cannot predict the effect that further healthcare reform and other changes in government programs may have on our business, financial condition, or results of operations.
- Changes in applicable federal and state laws relating to HSAs and other CDBs could materially adversely affect our business.
- We are subject to privacy regulations, including regarding the access, use, and disclosure of personal information, and the privacy breaches that we or our third-party service providers have experienced or may experience in the future could result in substantial financial and reputational harm, including possible criminal and civil penalties.
- Legislative, regulatory, and legal developments involving taxes could adversely affect our results of operations and cash flows.
- Regulatory changes and changes in the enforcement environment may have an adverse result on our business.
- Changes in laws and regulations relating to interchange fees on payment card transactions could adversely affect our revenue and results of operations.
- Failure to comply with, or changes in, payment card industry, credit card association or other network rules or standards set by Visa or changes in card association and debit network fees or products or interchange rates, could materially adversely affect us.
- We are subject to complex regulation, and any compliance failures or regulatory action could adversely affect our business.
- If we are unable to meet or exceed the net worth test required by the IRS, we could be unable to maintain our non-bank custodian status.
- Risks relating to our service and culture
- Any failure to offer high-quality member, Client, and Network Partner support services could adversely affect our relationships with our members, Clients, and Network Partners and our operating results.
- We rely on our management team and team members, and our business could be harmed if we are unable to retain qualified personnel.
- If we cannot maintain our corporate culture as we grow, we could lose the innovation, teamwork, passion, and focus on execution that we believe contribute to our success.
- Risks relating to our partners and service providers
- If our Network Partners choose to partner with other providers of, or otherwise reduce offering or cease to offer, our products and services, our business could be materially and adversely affected.
- A change in relationship with our bank identification number sponsor, or the failure by our sponsor to comply with certain banking regulations, could materially and adversely affect our business.
- Replacing our third-party service providers would be difficult and disruptive to our business.
- Growth-related risks
- Our acquisition and investment strategies may not be successful.
- Failure to manage future growth effectively could have a material adverse effect on our business, financial condition, and results of operations.
- We may not accurately estimate the impact on our business of developing, introducing, and updating new and existing products and services.
- We may need to record write-downs from future impairments of identified intangible assets and goodwill.
- Integration of our acquisitions may not be successful, and we may not realize the synergies anticipated from our acquisitions.
- Financing and related risks
- Our substantial debt could limit our ability to fund operations, expose us to interest rate volatility, limit our ability to raise additional capital, and have a material adverse effect on our ability to fulfill our obligations under our Credit Agreement and Indenture and to our Network Partners, Clients, and members.
- The Indenture and the Credit Agreement contain covenants that impose significant operational and financial restrictions on us, and the failure to comply with these covenants would result in an event of default under these instruments.
- General risk factors
- Provisions in our charter documents and under Delaware law could discourage a takeover that stockholders may consider favorable.
- The exclusive forum provision in our amended and restated certificate of incorporation could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or team members.
Legal proceedings
For information regarding legal proceedings in which we are involved, refer to Note 6—Commitments and contingencies to our financial statements included in Part II, Item 8 of this Annual Report on Form 10-K.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15
- 16
- 17
- 18
- 19
- 20
- 21
- 22
- 23
- 24
- 25
- 26
- 27
- 28
- 29
- 30SEC EDGARJon Soldan, Exec VP, Operations
- 31
- 32
- 33SEC EDGARStephen Neeleman, Vice chair
- 34
- 35
- 36SEC EDGARWilliam Gassen, Board member
- 37
- 38SEC EDGARRajesh Natarajan, Board member
- 39
- 40
- 41SEC EDGARAdrian T. Dillon, Board member
- 42SEC EDGARRobert W. Selander, Board member
- 43SEC EDGARFrank Corvino, Board member
- 44SEC EDGARFrank Medici, Board member
- 45SEC EDGARIan Sacks, Board member
- 46SEC EDGARManu S. Rana, Board member
- 47SEC EDGARMike Leavitt, Board member
- 48SEC EDGAREvelyn S. Dilsaver, Board member
- 49SEC EDGARDelano Ladd, General counsel
- 50SEC EDGARExecutive or director change
- 51
- 52SEC EDGARResults of operations
- 53SEC EDGARShareholder vote
- 54SEC EDGARResults of operations
- 55SEC EDGARExecutive or director change
- 56SEC EDGARExecutive or director change
- 57
- 58SEC EDGARResults of operations
- 59SEC EDGARResults of operations
- 60SEC EDGARRegulation FD disclosure
- 61SEC EDGARResults of operations
- 62NasdaqNasdaq calendar
- 63
- 64
- 65
- 66
- 67
- 68
- 69
- 70
- 71
- 72
- 73