HealthEquity (NASDAQ: HQY) reported Q1 EPS of $0.43, $0.01 worse than the analyst estimate of $0.44. Revenue for the quarter came in at $190 million versus the consensus estimate of $193.32 million.

GUIDANCE:

HealthEquity sees Q2 2021 EPS of $0.23-$0.30, versus the consensus of $0.45. HealthEquity sees Q2 2021 revenue of $168-173 million, versus the consensus of $191.51 million.

• Due to uncertainty regarding the pace of reopening during the COVID-19 pandemic, the Company is withdrawing its full-year fiscal 2021 guidance. For the fiscal second quarter ending July 31, 2020, management expects revenues of $168 million to $173 million. Its outlook for net loss is between $20 million and $15 million, resulting in net loss per diluted share of $0.27 to $0.21. Its outlook for non-GAAP net income, calculated using the method described below, is between $17 million and $22 million, resulting in non-GAAP net income per diluted share of $0.23 to $0.30 (based on an estimated 73 million weighted-average shares outstanding). Management expects Adjusted EBITDA of $42 million to $48 million.
• Said Kessler, “We believe the COVID-19 pandemic’s negative effect on our operating performance will fade as businesses gradually reopen, while the unprecedented economic fallout drives HSA growth and accelerates long-term trends favoring established market leaders like HealthEquity.”

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