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
DateValue
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