HealthEquity, Inc. (NASDAQ:HQY) Q1 2021 Earnings Conference Call - Final Transcript

Jun 02, 2020 • 04:30 pm ET

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HealthEquity, Inc. (NASDAQ:HQY) Q1 2021 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Welcome to HealthEquity's First Quarter of Fiscal 2021 Earnings Call. Please note that this event is being recorded. Go ahead Mr. Putnam.

Executive
Richard Putnam

Thank you, Joel and good afternoon and welcome to HealthEquity's first quarter of fiscal year 2021 earnings conference call. Joining me today is Jon Kessler, President and CEO; Dr. Steve Neeleman, our Vice Chair and Founder; Darcy Mott, the company's Executive Vice President and CFO; and Ted Bloomberg, our Chief Operating Officer. Before I turn the call over to Jon, I have three important reminders to provide. First, a copy of today's press release is posted earlier this afternoon on our Investor Relations website, which is ir.healthequity.com. Second, our comments and responses to your questions today reflect management's view as of today, June 2nd, 2020 and will include forward-looking statements as defined by the SEC, which include predictions, expectations, estimates or other information that might be considered forward-looking.

There are many important factors relating to our business, which could affect the forward-looking statements made today. These forward-looking statements are subject to risks and uncertainties that may cause our actual results to differ materially from statements made here today. As a result, we caution you against placing undue reliance on these forward-looking statements. We also encourage you to review the discussions of these factors and other risks that may affect our future results or the market price of our stock detailed in our latest annual report on Form 10-K as well as subsequent recurrent reports filed with the SEC. We assume no obligation to revise or update these forward-looking statements in light of new information or future events.

And third, during this call, we will reference certain non-GAAP financial measures that are defined in our press release. There, you will find additional disclosures regarding these non-GAAP measures, including reconciliations of these measures with comparable GAAP measures. Thank you for your patience. I'll now turn the call over to Mr. Jon Kessler, our CEO.

Executive
Jon Kessler

Thank you, Richard. Hello everyone for joining us and -- hello everyone and thank you for joining us. During the quarter and in the weeks since, our hearts have been filled with prayers for those who are dealing with personal loss, gratitude for those who are fighting the pandemic on the front lines, but also with determination to help drive the recovery and we think the pandemic's short-term disruption and it's hit to financial performance have actually strengthened our culture and they've certainly accelerated our synergy attainment and we believe this moment has permanently accelerated market trends that were already in evidence before the pandemic that favor those like HealthEquity with operating scale, with product depth, with proprietary technology, and with solid cultural foundations.

On the call, I will discuss fiscal Q1 performance against key metrics and strategic implications of the COVID-19 pandemic and its economic fallout. Ted will describe our operational response to the pandemic and Darcy will detail fiscal Q1 and expected operating performance. Steve will join us for market and regulatory color during Q&A.