HealthEquity's 2026 guidance falls short of expectations, leading to a 14% after-hours stock price drop.

HealthEquity's 2026 fiscal year outlook disappoints, 2025 fiscal year Q4 results mixed.

Despite higher revenue from increased user accounts, HealthEquity's outlook for 2026 fails to meet investor expectations.

HealthEquity expects adjusted EPS of $3.57 to $3.74 in 2026, below analyst expectations of $3.71. The company expects revenue of $128 million to $131 million in 2026, slightly below analyst expectations of $130 million. Shares fell nearly 14% in after-hours trading to $87.50.

The company's fourth-quarter profit was flat year-over-year at $26.4 million, or 30 cents per share. Adjusted EPS was 69 cents, below analyst expectations of 72 cents. Fourth-quarter revenue grew 19% year-over-year to $311.8 million, topping analyst expectations of $305.8 million.

As of January 31, the company had approximately 9.9 million health savings accounts, up 14% year-over-year. The total assets of these accounts were $32.1 billion, up 27% year-over-year.