Healthequity (HQY) Cost of Revenue (2013 - 2026)
Healthequity (HQY) posted Cost of Revenue of $92.8 million for Q3 2026, down 5.65% on a QoQ basis from $98.3 million in Q2 2026, and little changed year-over-year from $93.2 million in Q3 2025.
Analysis
Healthequity (HQY) Cost of Revenue (2013 - 2026) Analysis & Trends
Healthequity has reported Cost of Revenue for 14 years, with the latest figure at $92.8 million in Q3 2026.
- On a quarterly basis, Cost of Revenue changed 0.5% year-over-year to $92.8 million in Q3 2026; TTM through Jul 2026 was $391.6 million, a 8.05% 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 was $92.8 million for Q3 2026 at Healthequity, down from $98.3 million in the prior quarter.
- The five-year high for Cost of Revenue was $122.8 million in Q1 2025, with the low at $87.9 million in Q3 2022.
- Average Cost of Revenue over 5 years is $97.8 million, with a median of $96.0 million recorded in 2023.
- The sharpest annual moves came in 2025 and 2026: Cost of Revenue grew 23.93% in 2025, then dropped 13.3% in 2026.
- Over 5 years, Cost of Revenue stood at $88.8 million in 2022, then increased by 1.43% to $90.0 million in 2023, then rose by 14.85% to $103.4 million in 2024, then decreased by 9.0% to $94.1 million in 2025, then fell by 1.41% to $92.8 million in 2026.
- The last three Cost of Revenue figures came in at $92.8 million (Q3 2026), $98.3 million (Q2 2026), and $106.4 million (Q1 2026), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Bank of New York Mellon | 104.30 Bn | 43.67 Bn | - | - |
| 2 | State Street | 50.22 Bn | 50.22 Bn | - | - |
| 3 | Northern Trust | 32.55 Bn | 32.55 Bn | - | - |
| 4 | Sei Investments | 12.62 Bn | 12.54 Bn | - | - |
| 5 | Healthequity | 7.89 Bn | 7.63 Bn | 257.95 Mn | 92.78 Mn |
| 6 | AtlasClear Holdings | 26.96 Mn | -13.53 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 92.78 Mn |
| Apr 30, 2026 | 98.33 Mn |
| Jan 31, 2026 | 106.44 Mn |
| Oct 31, 2025 | 94.10 Mn |
| Jul 31, 2025 | 93.24 Mn |
| Apr 30, 2025 | 106.53 Mn |
| Jan 31, 2025 | 122.77 Mn |
| Oct 31, 2024 | 103.41 Mn |
| Jul 31, 2024 | 95.88 Mn |
| Apr 30, 2024 | 100.46 Mn |
| Jan 31, 2024 | 99.07 Mn |
| Oct 31, 2023 | 90.04 Mn |
| Jul 31, 2023 | 91.88 Mn |
| Apr 30, 2023 | 95.96 Mn |
| Jan 31, 2023 | 99.07 Mn |
| Oct 31, 2022 | 88.77 Mn |
| Jul 31, 2022 | 87.89 Mn |
| Apr 30, 2022 | 94.08 Mn |
| Jan 31, 2022 | 97.68 Mn |
| Oct 31, 2021 | 76.38 Mn |