HQY 最新10-Q变化
将 HQY 最新的定期申报(10-K/10-Q)与上一份同类型申报逐章节对比:每个章节新增/删除的段落数与原文摘录。全部为确定性文本对比——无相似度评分、无方向判断、非投资建议。
对比:10-Q · 2026-05-28 与上一份 10-Q · 2025-12-03
| 章节 | 结果 | 新增 | 删除 | 微调 | 未变 |
|---|---|---|---|---|---|
| 管理层讨论与分析 | 文字有新增/删除 | +63 | −96 | ~24 | 33 |
| 市场风险(第3项) | 文字有新增/删除 | +7 | −6 | ~2 | 1 |
| 控制与程序 | 文字有新增/删除 | +3 | −2 | ~1 | 0 |
| 法律诉讼 | 无段落级文字变化 | 0 | 0 | 0 | 1 |
| 风险因素 | 公司称无重大变化(指向 10-K) | — | — | — | — |
| 其他信息 | 文字有新增/删除 | 0 | −1 | ~1 | 0 |
计数单位为段落;"新增/删除"指相对上一份文件新增/删除的文字,不含方向或好坏判断。
代表性摘录
每个章节最多 5 条、每条约 300 字符的原文摘录,直接来自两份 SEC 文件。
管理层讨论与分析
相对上期新增的文字 · 来源:10-Q · 2026-05-28
consumers optimize the value of their HSAs and other CDBs and gain confidence and skills in managing their healthcare costs as part of their financial security.
Our ability to assist consumers is enhanced by our capacity to securely share data in both directions with others in the health, benefits, and retirement ecosystems.
We earn revenue primarily from three sources: service, custodial, and interchange. We earn service revenue mainly from fees paid by our Clients, Network Partners, and members for the administration services we provide in connection with the HSAs and other CDBs we offer. Service revenue also includes…
As a non-bank custodian, our members’ custodial HSA cash assets are held by either our insurance company partners through group annuity contracts or other similar arrangements (our "Enhanced Rates" offering) or by our federally insured Depository Partners (our "Basic Rates" offering), pursuant to co…
HSA members who allocate HSA cash to our Enhanced Rates offering retain a higher yield compared to our Basic Rates offering. An increase in the percentage of HSA cash held in our Enhanced Rates offering also positively impacts our custodial revenue, as we generally earn a higher yield on HSA cash he…
相对上期删除的文字 · 来源:10-Q · 2025-12-03
Our ability to assist consumers is enhanced by our capacity to securely share data in both directions with others in the health, benefits, and retirement ecosystems. Our commuter benefits offering also leverages connectivity to an ecosystem of mass transit, ride hailing, and parking providers.
We earn revenue primarily from three sources: service, custodial, and interchange. We earn service revenue mainly from fees paid by our Network Partners, Clients, and members for the administration services we provide in connection with the HSAs and other CDBs we offer. We earn custodial revenue pri…
In fiscal 2025, we acquired the BenefitWallet HSA portfolio, comprised of approximately 616,000 HSAs plus other accounts with $2.7 billion of HSA Assets, from Conduent Business Services, LLC for a purchase price of $425.0 million. We paid the purchase price using $225.0 million of borrowings under o…
As a non-bank custodian, our members’ custodial HSA cash assets are held by either our federally insured Depository Partners (our "Basic Rates" offering), pursuant to contractual arrangements we have with these Depository Partners, or by our insurance company partners through group annuity contracts…
The lengths of our agreements with Depository Partners typically range from three to five years and may have fixed or variable interest rate terms. The terms of new and renewing agreements with our Depository Partners are impacted by the then-prevailing interest rate environment, which in turn is dr…
市场风险(第3项)
相对上期新增的文字 · 来源:10-Q · 2026-05-28
HSA Assets and Client-held funds. HSA Assets consist of custodial HSA funds we hold in custody on behalf of our members. As of April 30, 2026 and January 31, 2026, we held in custody HSA Assets of $37.1 billion and $36.5 billion, respectively. As a non-bank custodian, we contract with our insurance …
As HSA Assets increase and existing contracts with Depository Partners continue to expire, we seek to enter into new contracts with insurance company partners and Depository Partners, the terms of which are impacted by the then-prevailing interest rate environment. We believe that increased particip…
A sustained decline in prevailing interest rates may negatively affect our business by reducing the size of the interest rate yield, or yield, available to us and thus the amount of custodial revenue we can realize. Conversely, a sustained increase in prevailing interest rates can increase our yield…
We have entered into derivative contracts to hedge a portion of the benchmark interest rate risk of expected future placements of HSA cash; however, we continue to have exposure to such risks to the extent they are not hedged. See Note 10—Derivative financial instruments and hedging activities for f…
Client-held funds are interest earning deposits from which we generate custodial revenue. As of April 30, 2026 and January 31, 2026, we held Client-held funds of $1.0 billion and $1.1 billion, respectively. These deposits are amounts remitted by Clients and held by us on their behalf to pre-fund and…
相对上期删除的文字 · 来源:10-Q · 2025-12-03
HSA Assets and Client-held funds. HSA Assets consist of custodial HSA funds we hold in custody on behalf of our members. As of October 31, 2025 and January 31, 2025, we held in custody HSA Assets of $34.4 billion and $32.1 billion, respectively. As a non-bank custodian, we contract with our Deposito…
During the nine months ended October 31, 2025, we have entered into derivative contracts to hedge a portion of the benchmark interest rate risk of expected future placements of HSA cash; however, we continue to have exposure to
such risks to the extent they are not hedged. See Note 10—Derivative financial instruments and hedging activities for further information.
Client-held funds are interest earning deposits from which we generate custodial revenue. As of October 31, 2025 and January 31, 2025, we held Client-held funds of $803 million and $896 million, respectively. These deposits are amounts remitted by Clients and held by us on their behalf to pre-fund a…
Cash and cash equivalents. We consider all highly liquid investments purchased with an original maturity of three months or less to be unrestricted cash equivalents. Our unrestricted cash and cash equivalents are held in institutions in the U.S. and include deposits in a money market account that is…
控制与程序
相对上期新增的文字 · 来源:10-Q · 2026-05-28
required disclosure. Management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving their objectives and management necessarily applies its judgment in evaluating the cost-benefit relationship of possible controls …
Based on such evaluation, our CEO and our CFO concluded that as of April 30, 2026, the Company's disclosure controls and procedures were effective at the reasonable assurance level.
There were no changes in the Company’s internal control over financial reporting identified in connection with the evaluation required by Rule 13a-15(d) and 15d-15(d) of the Exchange Act that occurred during the quarter ended April 30, 2026 that has materially affected, or is reasonably likely to ma…
相对上期删除的文字 · 来源:10-Q · 2025-12-03
Based on such evaluation, our CEO and our CFO concluded that as of October 31, 2025, the Company's disclosure controls and procedures were effective at the reasonable assurance level.
There were no changes in the Company’s internal control over financial reporting identified in connection with the evaluation required by Rule 13a-15(d) and 15d-15(d) of the Exchange Act that occurred during the quarter ended October 31, 2025 that has materially affected, or is reasonably likely to …
其他信息
相对上期删除的文字 · 来源:10-Q · 2025-12-03
On October 14, 2025, Michael Fiore, our Executive Vice President and Chief Commercial Officer, entered into a Rule 10b5-1 trading arrangement (the “Fiore Arrangement”). The Fiore Arrangement provides for the sale, between January 13, 2026 and December 15, 2026, of up to 19,532 aggregate shares of th…
如何读 10-Q 的风险因素(第 1A 项)
10-Q 的风险因素章节有三种常见形态,本页按其一分类展示:
- 指向(pointer) — 公司仅声明"无重大变化"并指向年度 10-K 的完整风险因素;本季没有自己的风险文本可对比。
- 部分更新(partial) — 公司写明"除下述外无重大变化",只更新部分风险;摘录展示的正是本季新增的内容。
- 全文重述(restated) — 本季重新给出完整风险因素。若上一季只是"指向",则无法逐段对比,本页会将其标为"本季全文重述"。
这只是对文件结构的客观描述,不构成对风险高低的判断。
数据来自 SEC EDGAR 两份申报文件的文本级对比 · 确定性计算(无 AI 生成内容)· 仅供参考 · 非投资建议