HealthEquity Inc. 2026年度季度报告

☑QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2026OR HealthEquity, Inc. and subsidiariesForm 10-Q quarterly report Table of contents PagePart I. FINANCIAL INFORMATIONItem 1.Financial statementsCondensed consolidated balance sheets as of April 30, 2026 (unaudited) and January 31, 20263Condensed consolidated statements of operations for the three months ended April 30, 2026 and 2025 (unaudited)4Condensed consolidated statements of comprehensive income for the three months ended April 30, 2026 and2025 (unaudited)5Condensed consolidated statements of stockholders' equity for the three months ended April 30, 2026 and 2025(unaudited)6Condensed consolidated statements of cash flows for the three months ended April 30, 2026 and 2025 (unaudited)7Notes to condensed consolidated financial statements (unaudited)9Item 2.Management's discussion and analysis of financial condition and results of operations19Item 3.Quantitative and qualitative disclosures about market risk33Item 4.Controls and procedures34Part II. OTHER INFORMATIONItem 1.Legal proceedings36Item 1A.Risk factors36Item 5.Other information36Item 6.Exhibits37Signatures38 HealthEquity, Inc. and subsidiariesCondensed consolidated balance sheets HealthEquity, Inc. and subsidiaries Note1.Summary of business and significant accounting policies Business HealthEquity, Inc. ("HealthEquity" or the "Company") was incorporated in the state of Delaware on September18, 2002.HealthEquity is a leader in administering health savings accounts (“HSAs”) and complementary consumer-directed Principles of consolidation The Company consolidates entities in which the Company has a controlling financial interest, which includes all of itswholly owned direct and indirect subsidiaries. All significant intercompany accounts and transactions have been eliminated Segments The Company is managed as a single operating segment that provides administration services in connection with HSAsand other CDBs, which reflects the way in which its chief operating decision maker (“CODM”), the Chief Executive Officer,reviews the Company's financial performance and makes decisions about resource allocation. The CODM assesses theperformance of the Company, monitors actual financial results against budgets, and makes resource allocation decisions The Company does not generate international revenues. All long-lived assets are maintained in the United States ofAmerica. Basis of presentation The accompanying condensed consolidated financial statements as of April30, 2026 and for the three months endedApril30, 2026 and 2025 are unaudited and have been prepared in conformity with accounting principles generallyaccepted in the United States of America ("GAAP") and the applicable rules and regulations of the Securities andExchange Commission ("SEC") regarding interim financial reporting. In the opinion of management, the interim dataincludes all adjustments necessary for a fair presentation of the results for the interim periods. Certain information and Significant accounting policies There have been no material changes in the Company’s significant accounting policies as compared to the significantaccounting policies described in the Company’s Annual Report onForm10-K for the fiscal year ended January31, 2026. Recently adopted accounting pronouncements None. Recently issued accounting pronouncements not yet adopted In November 2024, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU")2024-03,Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The ASU requires disaggregated information about certain incomestatement expense line items on an annual and interim basis. This guidance will be effective for annual reporting periods Table of Contents We are evaluating the effect that this guidance will have on our consolidated financial statements and related disclosures. In September 2025, the FASB issued ASU 2025-06,Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which removes all references to project stagesand establishes new criteria for the capitalization of internal-use software costs. The guidance will be effective for annualperiods beginning after December 15, 2027, including interim periods within those annual periods. Early adoption is Note2.Net income per share For the three months ended April30, 2026 and 2025, 0.4 million and 0.1 million shares, respectively, attributable tooutstanding stock options and restricted stock units were excluded from the calculation of diluted net income per share as Note3.Supplemental financial statement information Selected condensed consolidated balance sheet and condensed consolidated statement of operations componentsconsisted of the followin