HealthEquity Inc (HQY) released its first quarter results on Tuesday, June 8, 2021. The company reported net earnings of $-0.03 per share for the first quarter ending April 30, 2021. Earnings for this past quarter declined 226 percent compared to the same period a year ago.
HealthEquity, Inc. was incorporated in 2002 and is headquartered in Draper, Utah. HealthEquity, Inc. provides technology-enabled services platforms to consumers and employers in the United States. The company offers cloud-based platforms for individuals to make health saving and spending decisions, pay healthcare bills, compare treatment options and prices, receive personalized benefit and clinical information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.
HealthEquity's revenue increased 15 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 62.47% for the first quarter compared to the same period in the previous year, and operating margins decreased to 7.09% over the same period. Net earnings for past trailing twelve months were $4.39 million, up 1423% from the prior year.
Moving on to the balance sheet, HealthEquity's cash levels jumped 331% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 113.38% this past year. The current ratio for HealthEquity now stands at 4.5. The company increased shares outstanding by 16.78%.
Shares of HQY are currently trading around $81.44. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 1421.29 and price to book ratio of 3.6.