Healthequity (HQY) Cost of Revenue (2013 - 2026)
Healthequity (HQY) recorded Cost of Revenue of $92.78 million in fiscal Q2 2027 (quarter ended Jul 31, 2026), down 0.5% from $93.24 million a year earlier and down 5.6% from the prior quarter.
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Analysis
Healthequity (HQY) Cost of Revenue (2013 - 2026) Analysis & Trends
On a TTM basis, Healthequity's Cost of Revenue came in at $391.65 million as of Jul 31, 2026, down 8.1% year-over-year; for FY2026 (ended Jan 31, 2026), it came in at $400.31 million, down 5.3% from FY2025.
- Annual Cost of Revenue has a five-year compound annual growth rate of 4.7% (FY2021 to FY2026).
- Across earlier fiscal years, Cost of Revenue came in at $422.52 million in FY2025 (+12.1%), $376.95 million in FY2024 (+1.9%), $369.81 million in FY2023 (+11.5%) and $331.79 million in FY2022 (+4.3%).
- The fiscal Q2 2027 figure is the lowest quarterly Cost of Revenue since fiscal Q3 2024.
- On a year-over-year basis, Cost of Revenue has declined for five consecutive quarters, with growth averaging 1.4% over the last eight quarters.
- Peak year-over-year performance for Cost of Revenue in the last five years was growth of 23.9% in fiscal Q4 2025, against a decline of 13.3% in fiscal Q4 2026 at the low end.
- Per Business Quant, the preceding three fiscal quarters came in at $98.33 million (Q1 2027), $106.44 million (Q4 2026) and $94.1 million (Q3 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 105.82 Bn | 93.92 Bn | - | - |
| 2 | Intercontinental Exchange | 89.41 Bn | 83.14 Bn | - | - |
| 3 | Robinhood Markets | 86.77 Bn | 67.81 Bn | - | - |
| 4 | Nasdaq | 52.58 Bn | 50.01 Bn | 1.50 Bn | 1.03 Bn |
| 5 | Interactive Brokers | 36.48 Bn | 13.59 Bn | - | - |
| 6 | Cboe Global Markets | 32.16 Bn | 23.82 Bn | 731.60 Mn | 711.20 Mn |
| 7 | LPL Financial Holdings | 25.21 Bn | 20.53 Bn | - | - |
| 8 | Tradeweb Markets | 24.34 Bn | 16.35 Bn | - | - |
| 9 | Circle Internet | 20.17 Bn | 14.05 Bn | 288.85 Mn | 412.47 Mn |
| 10 | Healthequity | 7.76 Bn | 6.61 Bn | 257.95 Mn | 92.78 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 |
API Access
Healthequity Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=HQY&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "HQY", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=HQY&period=max&api_key=YOUR_API_KEY");
const data = await res.json();