HEALTHEQUITY INC
For the period ended Apr 30, 2025. Filed Jun 3, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Apr 30, 2025 · Filed Jun 3, 2025
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2024-10-31; filed 2024-12-09.
0001428336-24-000110
Item 1A. Risk factorsCurrent report: 10-Q
Period ended 2025-04-30; filed 2025-06-03.
0001428336-25-000022
Item 1A. Risk factorsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 10 previous paragraphs and 6 current paragraphs.
5 unchanged; 1 reworded; 0 added; 4 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 1 previous and 1 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Removed paragraphs (4)
Previous report
Fraudulent account activity has led, and could continue to lead, to financial and reputational damage to us and could reduce the use and acceptance of our products and services.
Previous report
Criminals are using increasingly sophisticated methods to obtain personal information, which they then use to commit fraud. We have experienced a significant increase in outside fraudulent activity targeting member accounts, resulting in loss to us as we incurred service costs from remediation and reimbursement to impacted members. In addition, we suffered reputational damage that could reduce the use and acceptance of our products and services, or cause our Clients, members, and Network Partners to look for alternative providers. If we fail to protect our member accounts in the future, we may suffer additional financial and reputational damage, and our business and financial results may be adversely affected.
Previous report
Achieving our business strategy depends in large part on the success of our upcoming CEO transition.
Previous report
On November 12, 2024, we announced that our longtime President and Chief Executive Officer, Jon Kessler, has decided to retire effective January 6, 2025, at which time Scott Cutler will join the Company as his successor. Any significant leadership change involves inherent risk and can be difficult to manage. Our new CEO will be critical to executing on and achieving our business strategy, and our success depends, in large part, on the effectiveness of this transition. If our new CEO is unsuccessful at leading the Company and our management team, or is unable to successfully execute the Company’s strategy, our business may be harmed and our financial condition and results of operations may be adversely affected.
Reworded paragraphs (1)
Previous wording
The risks described in “Risk factors” in our Annual Report on Form 10-K for the fiscal year ended January 31, 2024, this Quarterly Report on Form 10-Q, and subsequent periodic reports could materially and adversely affect our business, financial condition and results of operations. Other than as set forth below, there have been no material changes in such risks. These risk factors do not identify all risks that we face, and our operations could also be affected by factors that are not presently known to us or that we currently consider to be immaterial to our operations.
Current wording
The risks described in “Risk factors” in our Annual Report on Form 10-K for the fiscal year ended January 31, 2025 and subsequent periodic reports could materially and adversely affect our business, financial condition and results of operations. There have been no material changes in such risks. These risk factors do not identify all risks that we face, and our operations could also be affected by factors that are not presently known to us or that we currently consider to be immaterial to our operations.