HealthEquity (NASDAQ: HQY) reported Q1 EPS of $0.31, $0.03 better than the analyst estimate of $0.28. Revenue for the quarter came in at $69.9 million versus the consensus estimate of $68.77 million.

Highlights of the first quarter include:

• Revenue of $69.9 million, an increase of 26% compared to Q1 FY18.
• Net income of $22.6 million, an increase of 61% compared to Q1 FY18.
• Net income per diluted share of $0.36 compared to $0.23 in Q1 FY18.
• Non-GAAP net income per diluted share of $0.31 compared to $0.19 in Q1 FY18.
• Adjusted EBITDA of $29.6 million, an increase of 32% compared to Q1 FY18.
• HSA Members of 3.5 million, an increase of 24% compared to Q1 FY18.
• Total Custodial Assets of $6.9 billion, an increase of 31% compared to Q1 FY18.

“HealthEquity is off to an excellent start to fiscal 2019, delivering record results in helping members connect health and wealth,” said Jon Kessler, President and CEO. “The team opened nearly a hundred thousand new HSAs during the quarter, grew custodial assets 31% year over year, and delivered record performance across key financial metrics.”

GUIDANCE:

HealthEquity sees FY2019 EPS of $1.00-$1.06, versus the consensus of $1.02. HealthEquity sees FY2019 revenue of $278-284 million, versus the consensus of $281 million.

For earnings history and earnings-related data on HealthEquity (HQY) click here.