Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $178M | $230M | $287M | $532M | $734M | $757M | $862M | $1000M | $1.20B | $1.31B |
| Revenue growth | — | 28.7% | 25.1% | 85.2% | 37.9% | 3.1% | 13.9% | 16.0% | 20.0% | 9.5% |
| Gross profit | $106M | $135M | $181M | $326M | $415M | $425M | $492M | $623M | $777M | $913M |
| Gross margin | 59.6% | 58.8% | 63.1% | 61.3% | 56.6% | 56.1% | 57.1% | 62.3% | 64.8% | 69.5% |
| Operating income | $41.2M | $54.4M | $77.7M | $77.0M | $34.0M | -$24.2M | $9.06M | $118M | $162M | $322M |
| Operating margin | 23.1% | 23.7% | 27.0% | 14.5% | 4.6% | -3.2% | 1.1% | 11.8% | 13.5% | 24.6% |
| Net income | $26.4M | $47.4M | $73.9M | $39.7M | $8.83M | -$44.3M | -$26.1M | $55.7M | $96.7M | $215M |
| Net margin | 14.8% | 20.6% | 25.7% | 7.5% | 1.2% | -5.9% | -3.0% | 5.6% | 8.1% | 16.4% |
| EPS (diluted) | $0.44 | $0.77 | $1.17 | $0.58 | $0.12 | -$0.53 | -$0.31 | $0.64 | $1.09 | $2.46 |
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $45.6M | $81.7M | $113M | $105M | $182M | $141M | $151M | $243M | $340M | $457M |
| Capital expenditures | $3.65M | $5.46M | $3.87M | $7.29M | $13.1M | $8.91M | $3.37M | $1.69M | $2.08M | $1.97M |
| Free cash flow | $41.9M | $76.2M | $110M | $97.7M | $169M | $132M | $147M | $241M | $338M | $455M |
| Share buybacks | — | — | — | — | — | — | $0.00 | $0.00 | $121M | $299M |
| Dividends paid | $0.00 | — | — | — | — | — | — | — | — | — |
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $140M | $199M | $361M | $192M | $329M | $225M | $254M | $404M | $296M | $319M |
| Total assets | $279M | $369M | $510M | $2.56B | $2.71B | $3.11B | $3.09B | $3.16B | $3.45B | $3.38B |
| Total liabilities | $17.2M | $22.9M | $32.9M | $1.53B | $1.33B | $1.25B | $1.19B | $1.13B | $1.33B | $1.27B |
| Long-term debt | — | — | $0.00 | $1.18B | $924M | $922M | $908M | $875M | $1.06B | $957M |
| Shareholders' equity | $262M | $346M | $477M | $1.03B | $1.38B | $1.85B | $1.90B | $2.04B | $2.11B | $2.11B |
| Retained earnings | $30.0M | $85.3M | $172M | $212M | $220M | $176M | $150M | $206M | $209M | $196M |
| Shares (wtd avg diluted) | 59.9M | 61.9M | 63.4M | 68.5M | 75.7M | 83.1M | 84.4M | 87.0M | 88.8M | 87.5M |
Every figure is extracted from HEALTHEQUITY, INC.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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