Healthequity (HQY) Cost of Revenue (2013 - 2026)
Healthequity's (HQY) quarterly Cost of Revenue came in at $98.3 million in Q2 2026, down 7.7% year-on-year from $106.5 million in Q2 2025, and down 7.62% quarter-over-quarter from $106.4 million in Q1 2026.
Healthequity (HQY) Cost of Revenue (2013 - 2026) Analysis & Trends
Healthequity's Cost of Revenue history runs 14 years deep, the most recent figure standing at $98.3 million for Q2 2026.
- On a quarterly basis, Cost of Revenue fell 7.7% year-over-year to $98.3 million in Q2 2026; TTM through Apr 2026 was $392.1 million, a 8.51% decrease from a year earlier, with the FY2026 full-year figure at $400.3 million, down 5.25% from the prior year.
- Cost of Revenue slipped to $98.3 million in Q2 2026 per HQY's latest filing, from $106.4 million in the prior quarter.
- Across five years, Cost of Revenue topped out at $122.8 million in Q1 2025 and bottomed at $87.9 million in Q3 2022.
- The 5-year median for Cost of Revenue is $96.8 million (2022), against an average of $98.1 million.
- Across the five-year window, Cost of Revenue increased 23.93% in 2025 and declined 13.3% in 2026, its largest moves.
- Year by year, Cost of Revenue stood at $88.8 million in 2022, then grew by 1.43% to $90.0 million in 2023, then increased by 14.85% to $103.4 million in 2024, then retreated by 9.0% to $94.1 million in 2025, then climbed by 4.49% to $98.3 million in 2026.
- Per Business Quant, the three latest HQY Cost of Revenue figures stand at $98.3 million (Q2 2026), $106.4 million (Q1 2026), and $94.1 million (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 31.81 Bn | 24.49 Bn | 662.02 Mn | 220.92 Mn |
| 2 | BrightSpring Health Services | 14.76 Bn | 13.86 Bn | 482.22 Mn | 260.92 Mn |
| 3 | Healthequity | 8.36 Bn | 8.10 Bn | 256.31 Mn | 98.33 Mn |
| 4 | Hinge Health | 5.91 Bn | 5.60 Bn | 154.23 Mn | 28.07 Mn |
| 5 | 10x Genomics | 5.89 Bn | 5.35 Bn | 106.18 Mn | 44.67 Mn |
| 6 | MiniMed | 4.45 Bn | 4.16 Bn | 480.00 Mn | 357.00 Mn |
| 7 | Waystar Holding | 4.41 Bn | 4.35 Bn | 216.84 Mn | 97.04 Mn |
| 8 | Doximity | 3.93 Bn | 3.18 Bn | 125.97 Mn | 19.41 Mn |
| 9 | Privia Health | 3.10 Bn | 2.68 Bn | - | - |
| 10 | Omnicell | 1.89 Bn | 1.65 Bn | 140.36 Mn | 169.52 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 30, 2026 | 98.33 Mn |
| Apr 30, 2026 | 98.33 Mn |
| Jan 31, 2026 | 106.44 Mn |
| Jan 31, 2026 | 106.44 Mn |
| Oct 31, 2025 | 94.10 Mn |
| Oct 31, 2025 | 94.10 Mn |
| Jul 31, 2025 | 93.24 Mn |
| Jul 31, 2025 | 93.24 Mn |
| Apr 30, 2025 | 106.53 Mn |
| Apr 30, 2025 | 106.53 Mn |
| Jan 31, 2025 | 122.77 Mn |
| Jan 31, 2025 | 122.77 Mn |
| Oct 31, 2024 | 103.41 Mn |
| Oct 31, 2024 | 103.41 Mn |
| Jul 31, 2024 | 95.88 Mn |
| Jul 31, 2024 | 95.88 Mn |
| Apr 30, 2024 | 100.46 Mn |
| Apr 30, 2024 | 100.46 Mn |
| Jan 31, 2024 | 99.07 Mn |
| Jan 31, 2024 | 99.07 Mn |