HealthEquity, Inc. (NASDAQ:HQY) Q2 2020 Earnings Conference Call Transcript

Sep 03, 2019 • 05:00 pm ET


HealthEquity, Inc. (NASDAQ:HQY) Q2 2020 Earnings Conference Call Transcript


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Welcome to HealthEquity's Second Quarter of Fiscal 2020 Earnings Call. Please note that this event is being recorded. Go ahead, Mr. Putnam.

Richard Putnam

Thank you, Carmen. Good afternoon, everyone. As Carmen mentioned, this is our -- HealthEquity's second quarter earnings conference call for our fiscal year 2020. By way of introduction, we have Jon Kessler, President and CEO, Steve Neeleman, HealthEquity's Founder and Vice Chair, Ted Bloomberg, Executive Vice President and COO, and Darcy Mott, our Executive Vice President and CFO.

I would like to remind those that are listening that there is a copy of today's earnings release and accompanying financial information posted on our Investor Relations website, which is We also claim Safe Harbor concerning the forward looking statements included in today's earnings release, and that will be made during this conference call, including predictions, expectations, estimates or other information that might be considered forward-looking. Throughout today's discussion, we will present some important factors relating to our business, which could affect those forward-looking statements.

These forward-looking statements are subject to risks and uncertainties that may cause our actual results to differ materially from statements made today. As a result, we caution you against placing undue reliance on these forward-looking statements. We encourage you to review the discussion of these factors and other risks that may affect our future results or the market price of our stock and that are detailed in our annual report on Form 10-K with the SEC filed in March of 2019, along with any other subsequent periodic or current reports filed with the SEC. We are not obligating ourselves to revise or update these forward-looking statements in light of new information or future events.

We also want to remind those who are on our call today and during the Q&A, we ask for one question at a time, and Jon has asked you to make sure that it is a good one.

With that, I'll turn the call over to Mr. Jon Kessler.

Jon Kessler

If you ask them, they won't do it. But if I ask [Speech Overlap] well, it hasn't worked so far. Let's try.

Thank you, Richard. And thank you, everyone, for joining HealthEquity's second quarter fiscal 2020 earnings call. And with a special DEEP Purple welcome -- hope those guys don't sue us -- to analysts and shareholders of WageWorks, which as you all know, I'm sure we acquired on Friday.

On today's call, I will speak to Q2 results and our market position with the WageWorks acquisition now complete. Ted Bloomberg, our COO, will discuss integration, and Darcy Mott will detail results and update guidance. And then Steve will join us for Q&A. We do have quite a bit to cover and we'll do our best to do it quickly so that there are time for questions -- there is time for questions.

During Q2, which did not include any impact from WageWorks, the team delivered record performance against the four key metrics that have driven our business, and once again outperformed