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HealthEquity Reports Second Quarter Ended July 31, 2023 Financial Results

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HealthEquity reports record HSA asset growth and margin expansion in Q2 FY23. Revenue increased by 18% to $243.5 million. Net income was $10.6 million, compared to a net loss of $10.7 million in Q2 FY23. Adjusted EBITDA increased by 31% to $88.1 million. HSA assets increased by 13% to $23.2 billion. Total accounts increased by 3% to 15.0 million. Business outlook for FY24 includes expected revenue of $980 million to $990 million and Adjusted EBITDA of $338 million to $348 million.
Positive
  • Record HSA asset growth
  • Margin expansion
  • Revenue increase of 18%
  • Net income of $10.6 million
  • Adjusted EBITDA increase of 31%
  • HSA asset increase of 13%
  • Total account increase of 3%
Negative
  • None.

Delivers Record HSA Asset Growth, Margin Expansion

Highlights of the second quarter include:

  • Revenue of $243.5 million, an increase of 18% compared to $206.1 million in Q2 FY23.
  • Net income of $10.6 million, compared to net loss of $10.7 million in Q2 FY23, with non-GAAP net income of $45.6 million, an increase of 62% compared to $28.1 million in Q2 FY23.
  • Net income per diluted share of $0.12, compared to net loss per diluted share of $0.13 in Q2 FY23, with non-GAAP net income per diluted share of $0.53, compared to $0.33 in Q2 FY23.
  • Adjusted EBITDA of $88.1 million, an increase of 31% compared to $67.0 million in Q2 FY23.
  • 8.2 million HSAs, an increase of 9% compared to Q2 FY23.
  • Total HSA Assets of $23.2 billion, an increase of 13% compared to Q2 FY23.
  • 15.0 million Total Accounts, including both HSAs and complementary CDBs, an increase of 3% compared to Q2 FY23.

DRAPER, Utah, Sept. 05, 2023 (GLOBE NEWSWIRE) -- HealthEquity, Inc. (NASDAQ: HQY) ("HealthEquity" or the "Company"), the nation's largest health savings account ("HSA") custodian, today announced financial results for its second quarter ended July 31, 2023.

"HealthEquity’s 8.2 million HSA Members grew their health savings by $883 million, including strong contributions from the 156,000 new HSA Members Team Purple welcomed during the quarter," said Jon Kessler, President and CEO of HealthEquity. "Strong member and balance growth, improving custodial yields, and an ongoing service technology rollout all contributed to 360bps of year-over-year expansion of adjusted EBITDA as a percentage of revenue and record operating cash flow."

Second quarter financial results

Revenue for the second quarter ended July 31, 2023 was $243.5 million, an increase of 18% compared to $206.1 million for the second quarter ended July 31, 2022. Revenue this quarter included: service revenue of $105.7 million, custodial revenue of $98.9 million, and interchange revenue of $38.9 million.

HealthEquity reported net income of $10.6 million, or $0.12 per diluted share, and non-GAAP net income of $45.6 million, or $0.53 per diluted share, for the second quarter ended July 31, 2023. The Company reported a net loss of $10.7 million, or $0.13 per diluted share, and non-GAAP net income of $28.1 million, or $0.33 per diluted share, for the second quarter ended July 31, 2022.

Adjusted EBITDA was $88.1 million for the second quarter ended July 31, 2023, an increase of 31% compared to the second quarter ended July 31, 2022. Adjusted EBITDA was 36% of revenue, compared to 33% for the second quarter ended July 31, 2022.

Account and asset metrics

HSAs as of July 31, 2023 were 8.2 million, an increase of 9% year over year, including 574,000 HSAs with investments, an increase of 11% year over year. Total Accounts as of July 31, 2023 were 15.0 million, including 6.8 million other consumer-directed benefits ("CDBs").

Total HSA Assets as of July 31, 2023 were $23.2 billion, an increase of 13% year over year. Total HSA Assets included $14.0 billion of HSA cash and $9.2 billion of HSA investments. Client-held funds, which are deposits held on behalf of our Clients to facilitate administration of our CDBs, and from which we generate custodial revenue, were $0.8 billion as of July 31, 2023.

Business outlook

For the fiscal year ending January 31, 2024, management expects revenue of $980 million to $990 million. Its outlook for net income is between $19 million and $24 million, resulting in net income of $0.21 to $0.27 per diluted share. Its outlook for non-GAAP net income, calculated using the method described below, is between $171 million and $179 million, resulting in non-GAAP net income per diluted share of $1.97 to $2.06 (based on an estimated 87 million diluted weighted-average shares outstanding). Management expects Adjusted EBITDA of $338 million to $348 million.

See "Non-GAAP financial information" below for definitions of our Adjusted EBITDA and non-GAAP net income. A reconciliation of the non-GAAP financial measures used throughout this release to the most comparable GAAP financial measures is included with the financial tables at the end of this release.

Conference call

HealthEquity management will host a conference call at 4:30 pm (Eastern Time) on Tuesday, September 5, 2023 to discuss the fiscal 2024 second quarter financial results. The conference call will be accessible by dialing 1-833-630-1956, or 1-412-317-1837 for international callers, and referencing conference ID "HealthEquity, Inc. call." A live audio webcast of the call will be available on the investor relations section of our website at http://ir.healthequity.com.

Non-GAAP financial information

To supplement our financial information presented on a GAAP basis, we disclose non-GAAP financial measures, including Adjusted EBITDA, non-GAAP net income, and non-GAAP net income per diluted share.

  • Adjusted EBITDA is adjusted earnings before interest, taxes, depreciation and amortization, amortization of acquired intangible assets, stock-based compensation expense, merger integration expenses, acquisition costs, gains and losses on equity securities, amortization of incremental costs to obtain a contract, costs associated with unused office space, and certain other non-operating items.
  • Non-GAAP net income is calculated by adding back to GAAP net income (loss) before income taxes the following items: amortization of acquired intangible assets, stock-based compensation expense, merger integration expenses, acquisition costs, gains and losses on equity securities, costs associated with unused office space, and losses on extinguishment of debt, and subtracting a non-GAAP tax provision using a normalized non-GAAP tax rate.
  • Non-GAAP net income per diluted share is calculated by dividing non-GAAP net income by diluted weighted-average shares outstanding.

Non-GAAP financial measures should be considered in addition to results prepared in accordance with GAAP and should not be considered as a substitute for, or superior to, GAAP results. We believe that these non-GAAP financial measures provide useful information to management and investors regarding certain financial and business trends relating to the Company's financial condition and results of operations. The Company cautions investors that non-GAAP financial information, by its nature, departs from GAAP; accordingly, its use can make it difficult to compare current results with results from other reporting periods and with the results of other companies. In addition, while amortization of acquired intangible assets is being excluded from non-GAAP net income, the revenue generated from those acquired intangible assets is not excluded. Whenever we use these non-GAAP financial measures, we provide a reconciliation of the applicable non-GAAP financial measure to the most closely applicable GAAP financial measure. Investors are encouraged to review the related GAAP financial measures and the reconciliation of the non-GAAP financial measures to their most directly comparable GAAP financial measure as detailed in the tables below.

About HealthEquity

HealthEquity and its subsidiaries administer HSAs and other consumer-directed benefits for our 15 million accounts in partnership with employers, benefits advisors, and health and retirement plan providers who share our mission to connect health and wealth and value our culture of remarkable "Purple" service. For more information, visit www.healthequity.com.

Forward-looking statements

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our industry, business strategy, plans, goals and expectations concerning our markets and market position, product expansion, future operations, expenses and other results of operations, revenue, margins, profitability, acquisition synergies, future efficiencies, tax rates, capital expenditures, liquidity and capital resources and other financial and operating information. When used in this discussion, the words "may," "believes," "intends," "seeks," "aims," "anticipates," "plans," "estimates," "expects," "should," "assumes," "continues," "could," "will," "future" and the negative of these or similar terms and phrases are intended to identify forward-looking statements in this press release.

Forward-looking statements reflect our current expectations regarding future events, results or outcomes. These expectations may or may not be realized. Although we believe the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to be correct. Some of these expectations may be based upon assumptions, data or judgments that prove to be incorrect. Actual events, results and outcomes may differ materially from our expectations due to a variety of known and unknown risks, uncertainties and other factors. Although it is not possible to identify all of these risks and factors, they include, among others, risks related to the following:

  • our dependence on the continued availability and benefits of tax-advantaged HSAs and other CDBs;
  • our ability to adequately place and safeguard our custodial assets, or the failure of any of our depository or insurance company partners;
  • the impact from a decline in interest rate levels on our financial results;
  • our ability to realize the anticipated financial and other benefits from combining the operations of recent and future acquisitions with our business successfully;
  • our ability to compete effectively in a rapidly evolving healthcare and benefits administration industry;
  • our ability to successfully identify, acquire and integrate additional portfolio purchases or acquisition targets;
  • the significant competition we face and may face in the future, including from those with greater resources than us;
  • the impact of societal and economic changes arising out of the COVID-19 pandemic on the Company, our operations and our financial results;
  • our reliance on the availability and performance of our technology and communications systems;
  • potential future cybersecurity breaches of our technology and communications systems and other data interruptions, including resulting costs and liabilities, reputational damage and loss of business;
  • the current uncertain healthcare environment, including changes in healthcare programs and expenditures and related regulations;
  • our ability to comply with current and future privacy, healthcare, tax, ERISA, investment adviser and other laws applicable to our business;
  • our reliance on partners and third-party vendors for distribution and important services;
  • our ability to develop and implement updated features for our technology and communications systems; and
  • our reliance on our management team and key team members.

For a detailed discussion of these and other risk factors, please refer to the risks detailed in our filings with the Securities and Exchange Commission, including, without limitation, our Annual Report on Form 10-K for the fiscal year ended January 31, 2023 and subsequent periodic and current reports. Past performance is not necessarily indicative of future results. We undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

Investor Relations Contact
Richard Putnam
801-231-0697
rputnam@healthequity.com

HealthEquity, Inc. and subsidiaries
Condensed consolidated balance sheets

(in thousands, except par value)July 31, 2023 January 31, 2023
 (unaudited)  
Assets   
Current assets   
Cash and cash equivalents$290,345 $254,266
Accounts receivable, net of allowance for doubtful accounts of $4,639 and $4,989 as of July 31, 2023 and January 31, 2023, respectively 92,581  96,835
Other current assets 39,631  31,792
Total current assets 422,557  382,893
Property and equipment, net 9,145  12,862
Operating lease right-of-use assets 51,976  56,461
Intangible assets, net 881,937  936,359
Goodwill 1,648,145  1,648,145
Other assets 52,696  52,180
Total assets$3,066,456 $3,088,900
Liabilities and stockholders’ equity   
Current liabilities   
Accounts payable$12,543 $13,899
Accrued compensation 31,421  45,835
Accrued liabilities 49,281  43,668
Current portion of long-term debt   17,500
Operating lease liabilities 10,026  10,159
Total current liabilities 103,271  131,061
Long-term liabilities   
Long-term debt, net of issuance costs 873,581  907,838
Operating lease liabilities, non-current 52,371  58,988
Other long-term liabilities 13,092  12,708
Deferred tax liability 74,527  82,665
Total long-term liabilities 1,013,571  1,062,199
Total liabilities 1,116,842  1,193,260
Commitments and contingencies   
Stockholders’ equity   
Preferred stock, $0.0001 par value, 100,000 shares authorized, no shares issued and outstanding as of July 31, 2023 and January 31, 2023, respectively   
Common stock, $0.0001 par value, 900,000 shares authorized, 85,612 and 84,758 shares issued and outstanding as of July 31, 2023 and January 31, 2023, respectively 9  8
Additional paid-in capital 1,785,014  1,745,716
Accumulated earnings 164,591  149,916
Total stockholders’ equity 1,949,614  1,895,640
Total liabilities and stockholders’ equity$3,066,456 $3,088,900

HealthEquity, Inc. and subsidiaries
Condensed consolidated statements of operations and comprehensive income (loss) (unaudited)

 Three months ended July 31, Six months ended July 31,
(in thousands, except per share data) 2023   2022   2023   2022 
Revenue       
Service revenue$105,719  $103,034  $210,831  $207,382 
Custodial revenue 98,917   65,599   193,358   124,964 
Interchange revenue 38,913   37,509   83,792   79,475 
Total revenue 243,549   206,142   487,981   411,821 
Cost of revenue       
Service costs 76,543   74,914   157,098   155,788 
Custodial costs 9,133   7,090   18,133   13,731 
Interchange costs 6,943   6,326   13,994   13,317 
Total cost of revenue 92,619   88,330   189,225   182,836 
Gross profit 150,930   117,812   298,756   228,985 
Operating expenses       
Sales and marketing 19,123   15,843   39,058   32,403 
Technology and development 54,767   46,580   107,959   91,763 
General and administrative 27,090   25,937   51,984   49,664 
Amortization of acquired intangible assets 23,166   24,181   46,332   47,879 
Merger integration 2,044   7,683   5,502   16,977 
Total operating expenses 126,190   120,224   250,835   238,686 
Income (loss) from operations 24,740   (2,412)  47,921   (9,701)
Other expense       
Interest expense (13,272)  (11,493)  (28,269)  (21,954)
Other income (expense), net 2,756   32   4,584   (269)
Total other expense (10,516)  (11,461)  (23,685)  (22,223)
Income (loss) before income taxes 14,224   (13,873)  24,236   (31,924)
Income tax provision (benefit) 3,643   (3,219)  9,561   (7,631)
Net income (loss) and comprehensive income (loss)$10,581  $(10,654) $14,675  $(24,293)
Net income (loss) per share:       
Basic$0.12  $(0.13) $0.17  $(0.29)
Diluted$0.12  $(0.13) $0.17  $(0.29)
Weighted-average number of shares used in computing net income (loss) per share:       
Basic 85,533   84,443   85,286   84,236 
Diluted 86,341   84,443   86,356   84,236 

HealthEquity, Inc. and subsidiaries
Condensed consolidated statements of cash flows (unaudited)

 Six months ended July 31,
(in thousands) 2023   2022 
Cash flows from operating activities:   
Net income (loss)$14,675  $(24,293)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:   
Depreciation and amortization 77,387   80,226 
Stock-based compensation 38,277   32,140 
Amortization of debt discount and issuance costs 1,461   1,639 
Loss on extinguishment of debt 1,157    
Other non-cash items    269 
Deferred taxes (8,138)  (7,558)
Changes in operating assets and liabilities:   
Accounts receivable, net 4,254   (3,161)
Other assets (8,526)  (1,546)
Operating lease right-of-use assets 6,594   4,117 
Accrued compensation (14,675)  (4,973)
Accounts payable, accrued liabilities, and other current liabilities 3,970   (25,586)
Operating lease liabilities, non-current (8,175)  (3,594)
Other long-term liabilities 384   (454)
Net cash provided by operating activities 108,645   47,226 
Cash flows from investing activities:   
Purchases of software and capitalized software development costs (18,794)  (24,215)
Purchases of property and equipment (590)  (2,384)
Acquisitions of HSA portfolios    (68,725)
Net cash used in investing activities (19,384)  (95,324)
Cash flows from financing activities:   
Principal payments on long-term debt (54,375)  (4,375)
Settlement of client-held funds obligation, net (161)  (991)
Proceeds from exercise of common stock options 1,354   4,936 
Net cash used in financing activities (53,182)  (430)
Increase (decrease) in cash and cash equivalents 36,079   (48,528)
Beginning cash and cash equivalents 254,266   225,414 
Ending cash and cash equivalents$290,345  $176,886 

HealthEquity, Inc. and subsidiaries
Condensed consolidated statements of cash flows (unaudited) (continued)

 Six months ended July 31,
(in thousands) 2023  2022
Supplemental cash flow data:   
Interest expense paid in cash$23,504 $19,450
Income tax payments, net 15,113  573
Supplemental disclosures of non-cash investing and financing activities:   
Purchases of software and capitalized software development costs included in accounts payable, accrued liabilities, or accrued compensation 3,228  5,040
Purchases of property and equipment included in accounts payable or accrued liabilities 300  356
Acquisitions of HSA portfolios included in accounts payable or accrued liabilities   1,849
Exercise of common stock options receivable 50  8
Increase in goodwill due to measurement period adjustments, net   163

Stock-based compensation expense (unaudited)

Total stock-based compensation expense included in the condensed consolidated statements of operations and comprehensive income (loss) is as follows:

 Three months ended July 31, Six months ended July 31,
(in thousands) 2023  2022  2023  2022
Cost of revenue$4,714 $3,998 $8,549 $7,005
Sales and marketing 3,478  2,553  6,257  4,567
Technology and development 4,283  2,963  9,175  6,343
General and administrative 7,598  8,640  14,296  14,225
Total stock-based compensation expense$20,073 $18,154 $38,277 $32,140

Total Accounts (unaudited)

(in thousands, except percentages) July 31, 2023  July 31, 2022  % Change January 31, 2023
HSAs 8,164  7,523  9% 7,984
New HSAs from sales - Quarter-to-date 156  196  (20)% 445
New HSAs from sales - Year-to-date 290  355  (18)% 971
New HSAs from acquisitions - Year-to-date   90  (100)% 90
HSAs with investments 574  516  11% 541
CDBs 6,831  7,023  (3)% 6,933
Total Accounts 14,995  14,546  3% 14,917
Average Total Accounts - Quarter-to-date 14,954  14,497  3% 14,677
Average Total Accounts - Year-to-date 14,967  14,462  3% 14,531

HSA Assets (unaudited)

(in millions, except percentages)July 31, 2023 July 31, 2022 % Change January 31, 2023
HSA cash$14,021 $13,097 7% $14,199
HSA investments 9,181  7,441 23%  7,947
Total HSA Assets 23,202  20,538 13%  22,146
Average daily HSA cash - Year-to-date 14,048  12,924 9%  13,049
Average daily HSA cash - Quarter-to-date 14,001  12,941 8%  13,375

Client-held funds (unaudited)

(in millions, except percentages)July 31, 2023 July 31, 2022 % Change January 31, 2023
Client-held funds$811 $801 1% $901
Average daily Client-held funds - Year-to-date 896  852 5%  827
Average daily Client-held funds - Quarter-to-date 891  839 6%  809

Reconciliation of net income (loss) to Adjusted EBITDA (unaudited)

 Three months ended July 31, Six months ended July 31,
(in thousands) 2023   2022   2023   2022 
Net income (loss)$10,581  $(10,654) $14,675  $(24,293)
Interest income (2,484)  (89)  (4,082)  (141)
Interest expense 13,272   11,493   28,269   21,954 
Income tax provision (benefit) 3,643   (3,219)  9,561   (7,631)
Depreciation and amortization 15,180   16,559   31,055   32,347 
Amortization of acquired intangible assets 23,166   24,181   46,332   47,879 
Stock-based compensation expense 20,073   18,154   38,277   32,140 
Merger integration expenses 2,044   7,683   5,502   16,977 
Acquisition costs    47      53 
Amortization of incremental costs to obtain a contract 1,350   1,074   2,654   2,142 
Costs associated with unused office space 1,286   1,313   2,302   2,607 
Other    501   153   1,345 
Adjusted EBITDA$88,111  $67,043  $174,698  $125,379 

Reconciliation of net income outlook to Adjusted EBITDA outlook (unaudited)

 Outlook for the year ending
(in millions)January 31, 2024
Net income$19 - 24
Interest income(11)
Interest expense55
Income tax provision18 - 23
Depreciation and amortization60
Amortization of acquired intangible assets93
Stock-based compensation expense79
Merger integration expenses15
Amortization of incremental costs to obtain a contract5
Costs associated with unused office space4
Other expense1
Adjusted EBITDA$338 - 348

Reconciliation of net income (loss) to non-GAAP net income (unaudited)

 Three months ended July 31, Six months ended July 31,
(in thousands, except per share data) 2023  2022   2023  2022 
Net income (loss)$10,581 $(10,654) $14,675 $(24,293)
Income tax provision (benefit) 3,643  (3,219)  9,561  (7,631)
Income (loss) before income taxes - GAAP 14,224  (13,873)  24,236  (31,924)
Non-GAAP adjustments:       
Amortization of acquired intangible assets 23,166  24,181   46,332  47,879 
Stock-based compensation expense 20,073  18,154   38,277  32,140 
Merger integration expenses 2,044  7,683   5,502  16,977 
Acquisition costs   47     53 
Costs associated with unused office space 1,286  1,313   2,302  2,607 
Loss on extinguishment of debt      1,157   
Total adjustments to income (loss) before income taxes - GAAP 46,569  51,378   93,570  99,656 
Income before income taxes - Non-GAAP 60,793  37,505   117,806  67,732 
Income tax provision - Non-GAAP (1) 15,199  9,376   29,452  16,933 
Non-GAAP net income 45,594  28,129   88,354  50,799 
        
Diluted weighted-average shares 86,341  84,443   86,356  84,236 
Non-GAAP net income per diluted share$0.53 $0.33  $1.02 $0.60 

(1) The Company utilizes a normalized non-GAAP tax rate to provide better consistency across the interim reporting periods within a given fiscal year by eliminating the effects of non-recurring and period-specific items, which can vary in size and frequency, and which are not necessarily reflective of the Company’s longer-term operations. The normalized non-GAAP tax rate applied to each period presented was 25%. The Company may adjust its non-GAAP tax rate as additional information becomes available and in conjunction with any other significant events occurring that may materially affect this rate, such as merger and acquisition activity, changes in business outlook, or other changes in expectations regarding tax regulations.

Reconciliation of net income outlook to non-GAAP net income outlook (unaudited)

 Outlook for the year ending
(in millions, except per share data)January 31, 2024
Net income$19 - 24
Income tax provision18 - 23
Income before income taxes - GAAP37 - 47
Non-GAAP adjustments: 
Amortization of acquired intangible assets93
Stock-based compensation expense79
Merger integration expenses15
Costs associated with unused office space4
Total adjustments to income before income taxes - GAAP191
Income before income taxes - Non-GAAP228 - 238
Income tax provision - Non-GAAP (1)57 - 59
Non-GAAP net income$171 - 179
  
Diluted weighted-average shares87
Non-GAAP net income per diluted share (2)$1.97 - 2.06

(1) The Company utilizes a normalized non-GAAP tax rate to provide better consistency across the interim reporting periods within a given fiscal year by eliminating the effects of non-recurring and period-specific items, which can vary in size and frequency, and which are not necessarily reflective of the Company’s longer-term operations. The normalized non-GAAP tax rate applied to each period presented was 25%. The Company may adjust its non-GAAP tax rate as additional information becomes available and in conjunction with any other significant events occurring that may materially affect this rate, such as merger and acquisition activity, changes in business outlook, or other changes in expectations regarding tax regulations.

(2) Non-GAAP net income per diluted share may not calculate due to rounding of non-GAAP net income and diluted weighted-average shares.

Certain terms

TermDefinition
HSAA financial account through which consumers spend and save long-term for healthcare on a tax-advantaged basis.
CDBConsumer-directed benefits offered by employers, including flexible spending and health reimbursement arrangements ("FSAs" and "HRAs"), Consolidated Omnibus Budget Reconciliation Act ("COBRA") administration, commuter and other benefits.
HSA memberConsumers with HSAs that we serve.
Total HSA AssetsHSA members’ custodial cash assets held by our federally insured depository partners and our insurance company partners. Total HSA Assets also includes HSA members' investments in mutual funds through our custodial investment fund partner.
ClientOur employer clients.
Total AccountsThe sum of HSAs and CDBs on our platforms.
Client-held fundsDeposits held on behalf of our Clients to facilitate administration of our CDBs.
Network PartnerOur health plan partners, benefits administrators, and retirement plan recordkeepers.
Adjusted EBITDAAdjusted earnings before interest, taxes, depreciation and amortization, amortization of acquired intangible assets, stock-based compensation expense, merger integration expenses, acquisition costs, gains and losses on equity securities, amortization of incremental costs to obtain a contract, costs associated with unused office space, and certain other non-operating items.
Non-GAAP net incomeCalculated by adding back to GAAP net income (loss) before income taxes the following items: amortization of acquired intangible assets, stock-based compensation expense, merger integration expenses, acquisition costs, gains and losses on equity securities, costs associated with unused office space, and losses on extinguishment of debt, and subtracting a non-GAAP tax provision using a normalized non-GAAP tax rate.
Non-GAAP net income per diluted shareCalculated by dividing non-GAAP net income by diluted weighted-average shares outstanding.

HealthEquity, Inc

NASDAQ:HQY

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Health Information Services
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