(EDGAR Online via COMTEX) -- Item 2. Management's discussion and analysis of financial condition and results of operations
The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our condensed consolidated financial statements and related notes appearing elsewhere in this Quarterly Report on Form 10-Q. The following discussion and analysis contains forward-looking statements that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. Statements that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act").
(in thousands, except percentages) July 31, 2021 July 31, 2020 % Change January 31, 2021 HSAs 5,972 5,384 11 % 5,782 New HSAs from sales - Quarter-to-date 180 108 67 % 370 New HSAs from sales - Year-to-date 295 213 38 % 687 New HSAs from acquisitions - Year-to-date - - n/a - HSAs with investments 402 284 42 % 333 CDBs 7,171 7,090 1 % 7,028 Total Accounts 13,143 12,474 5 % 12,810 Average Total Accounts - Quarter-to-date 13,358 12,416 8 % 12,659 Average Total Accounts - Year-to-date 13,114 12,602 4 % 12,604
The number of our HSAs and CDBs are key metrics because our revenue is driven by the amount we earn from them. The number of our HSAs increased by approximately 0.6 million, or 11%, from July 31, 2020 to July 31, 2021, due to further penetration into existing Network Partners and the addition of new Network Partners. The number of our CDBs increased by approximately 0.1 million, or 1%, from July 31, 2020 to July 31, 2021, driven by an increase in COBRA accounts, largely offset by a decrease in commuter benefit accounts that are currently suspended due to the COVID-19 pandemic and fewer workers being required to commute to an office. The suspended commuter accounts continue to be administered on our platform and can be reinstated at any time. We have excluded the suspended commuter accounts from our account totals because they are currently not generating revenue for the Company. HSA Assets
(in millions, except percentages) July 31, 2021 July 31, 2020 % Change January 31, 2021 HSA cash with yield (1) $ 9,938 $ 8,626 15 % $ 9,875 HSA cash without yield (2) 90 344 (74) % 244 Total HSA cash 10,028 8,970 12 % 10,119 HSA investments with yield (1) 5,351 3,046 76 % 4,078 . . .
Sep 09, 2021
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