Anyone wondering how HealthEquity (NASDAQ: HQY) stock would perform under President Biden now have a pretty good answer. Shares of the country's largest non-bank health savings account (HSA) custodian have easily beaten the S&P 500 index so far this year. However, that momentum could now be in jeopardy. HealthEquity announced its fourth-quarter and full-year 2020 results after the market closed on Monday. The healthcare stock fell nearly 3% in after-hours trading. Here are the highlights from the company's Q4 update. Image source: Getty Images. By the numbers HealthEquity reported revenue of $188.2 million in the fourth quarter, down 6% from the $201.2 million reported in the same quarter of the previous year. The company's reported revenue was a little higher than the average analysts' revenue estimate of $185.36 million. The HSA provider announced net income in the fourth quarter of $5.4 million, or $0.07 per share, based on generally accepted accounting principles (GAAP). This reflected significant improvement from the GAAP net loss of $200,000 in the prior-year period. HealthEquity's adjusted earnings also trended in the right direction. The company posted adjusted earnings in Q4 of $33.3 million, or $0.42 per share. This result was higher than its adjusted earnings of $28.4 million, or $0.40 per share, generated in the fourth quarter of 2019. It also beat the average analysts' earnings estimate of $0.39 per share. Behind the numbers The company's Q4 results weren't all that surprising. HealthEquity provided a look at its year-end sales metrics in February, which included its outlook for the just-ended fiscal year. Lower service revenue was the primary culprit behind the company's year-over-year overall revenue decline. HealthEquity reported Q4 service revenue of $111.3 million compared to $122.2 million in the prior-year period. However, the company's other revenue sources also slipped a bit in the fourth quarter. Custodial revenue fell nearly 1.6% to $48.6 million. Interchange revenue slid 4.8% to $28.3 million. HealthEquity's bottom line, though, received a boost in a couple of ways. First, interest expense was markedly lower in the fourth quarter than in the prior-year period. In addition, the company enjoyed a nice income tax benefit of $6.7 million. Looking ahead The company expects that revenue for fiscal year 2022 will be between $750 million and $760 million. It anticipates a GAAP loss per share of between $0.12 and $0.07, with adjusted non-GAAP earnings per share between $1.37 and $1.42. The midpoints of both of the top- and bottom-line ranges for HealthEquity's guidance were lower than consensus analyst estimates. The company's adjusted earnings outlook was especially disappointing: Wall Street analysts expect adjusted earnings of around $1.70. Any improvement in the employment picture in the U.S. should help HealthEquity, though. It's possible that the recent $1.9 trillion stimulus package combined with the increased availability of COVID-19 vaccines could enable the company to beat its current full-year guidance. 10 stocks we like better than HealthEquityWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and HealthEquity wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Keith Speights has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends HealthEquity. The Motley Fool has a disclosure policy.Source