HealthEquity Inc. updated its outlook for fiscal year 2019 and released its results for its fiscal first quarter ended April 30.
The company now expects revenue of between $278 million and $284 million, up from the previous range of $276 million to $282 million, and net income in the range of $55 million to $59 million, versus the previous guidance of $47 million to $51 million, for the fiscal year ending Jan. 31, 2019.
The company further projects net income per share of 86 cents to 92 cents, which was previously anticipated to be between 74 cents and 80 cents. Additionally, adjusted EBITDA is expected to be in the range of $107 million to $111 million, up from $106 million to $111 million.
Non-GAAP net income is expected to be in a range between $64 million and $68 million, or between $1.00 and $1.06 per share. Non-GAAP net income was previously expected to be between $63 million and $67 million, or between 98 cents and $1.04 per share.
The S&P Capital IQ consensus normalized EPS estimate for 2019 is $1.02.
HealthEquity also reported net income of $22.6 million, or 36 cents per share, for its fiscal first quarter, up from $14.0 million, or 23 cents per share, in the prior-year quarter.
The company's non-GAAP net income for the fiscal first quarter was $19 million, or 31 cents per share, versus $12 million, or 19 cents per share, in the year-ago quarter.
The S&P Capital IQ consensus normalized EPS estimate for the fiscal first quarter was 28 cents.
