HealthEquity Inc. (HQY) stock plunged 6.89% in after-hours trading on Monday, December 9, 2024, after the healthcare accounts provider issued a fiscal 2026 revenue outlook that fell short of analyst expectations.
For the fiscal year ending January 31, 2026, HealthEquity forecasted revenue between $1.275 billion and $1.295 billion, falling short of the average analyst estimate of $1.32 billion. The company cited an expected slowdown in growth for its health savings accounts (HSAs) business as the primary reason for the lower-than-expected revenue guidance.
The stock sell-off came despite HealthEquity reporting better-than-expected earnings and revenue for the fiscal third quarter of 2025. For the quarter ended October 31, 2024, the company posted non-GAAP earnings of $0.78 per share, beating the consensus estimate of $0.72. Revenue rose 20.6% year-over-year to $300.4 million, slightly ahead of analyst expectations of $305.3 million.