Healthequity (HQY) Gross Margin (2013 - 2026)
Healthequity's quarterly Gross Margin came in at 68.19% in Q1 2026, up 756.0% year-on-year from 7.97% in Q1 2025, and down 3.68% quarter-over-quarter from 70.79% in Q4 2025.
Healthequity has reported Gross Margin for 14 years, with the latest figure at 68.19% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin rose 756.0% year-over-year to 68.19%; the trailing twelve-month figure through Jan 2026 stood at 69.52% (up 474.0% YoY), and the FY2026 full-year result was 69.52%, up 474.0% from the prior year.
- Gross Margin for Q1 2026 stood at 68.19%, down from 70.79% in the prior quarter.
- The five-year high for Gross Margin was 71.38% in Q3 2025, with the low at 51.95% in Q1 2022.
- Average Gross Margin over 5 years is 62.75%, with a median of 62.27% recorded in 2023.
- Year-over-year, Gross Margin plunged 198 bps in 2022 and soared 756 bps in 2026.
- Tracing HQY's Gross Margin over 5 years: stood at 58.92% in 2022, then advanced by 8 bps to 63.87% in 2023, then gained by 3 bps to 65.58% in 2024, then advanced by 8 bps to 70.79% in 2025, then decreased by 4 bps to 68.19% in 2026.
- The last three Gross Margin figures came in at 68.19% (Q1 2026), 70.79% (Q4 2025), and 71.38% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 30.85 Bn | 24.28 Bn | 622.47 Mn | 74.46% |
| 2 | BrightSpring Health Services | 12.29 Bn | 11.41 Bn | 482.22 Mn | 13.34% |
| 3 | Healthequity | 7.80 Bn | 7.48 Bn | 256.31 Mn | 72.27% |
| 4 | Hinge Health | 4.82 Bn | 4.51 Bn | 154.23 Mn | 84.60% |
| 5 | Doximity | 4.21 Bn | 3.46 Bn | 125.97 Mn | 86.65% |
| 6 | Waystar Holding | 4.18 Bn | 4.03 Bn | 268.04 Mn | 85.40% |
| 7 | 10x Genomics | 3.78 Bn | 3.24 Bn | 106.18 Mn | 70.39% |
| 8 | Privia Health | 2.65 Bn | 2.28 Bn | 595.71 Mn | 98.65% |
| 9 | Omnicell | 1.95 Bn | 1.78 Bn | 140.36 Mn | 45.30% |
| 10 | Teladoc Health | 1.42 Bn | 672.39 Mn | 562.57 Mn | 91.65% |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 30, 2026 | 72.27% |
| Jan 31, 2026 | 68.19% |
| Oct 31, 2025 | 70.79% |
| Jul 31, 2025 | 71.38% |
| Apr 30, 2025 | 67.80% |
| Jan 31, 2025 | 60.63% |
| Oct 31, 2024 | 65.58% |
| Jul 31, 2024 | 68.03% |
| Apr 30, 2024 | 65.07% |
| Jan 31, 2024 | 62.24% |
| Oct 31, 2023 | 63.87% |
| Jul 31, 2023 | 62.27% |
| Apr 30, 2023 | 60.74% |
| Jan 31, 2023 | 57.63% |
| Oct 31, 2022 | 58.92% |
| Jul 31, 2022 | 57.36% |
| Apr 30, 2022 | 54.26% |
| Jan 31, 2022 | 51.95% |
| Oct 31, 2021 | 57.55% |
| Jul 31, 2021 | 59.35% |
| Apr 30, 2021 | 56.11% |
| Jan 31, 2021 | 53.63% |
| Oct 31, 2020 | 58.30% |
| Jul 31, 2020 | 57.82% |
| Apr 30, 2020 | 56.88% |
| Jan 31, 2020 | 56.50% |
| Oct 31, 2019 | 61.12% |
| Jul 31, 2019 | 67.46% |
| Apr 30, 2019 | 66.34% |
| Jan 31, 2019 | 58.65% |
| Oct 31, 2018 | 64.99% |
| Jul 31, 2018 | 65.54% |
| Apr 30, 2018 | 63.45% |
| Jan 31, 2018 | 52.36% |
| Oct 31, 2017 | 59.39% |
| Jul 31, 2017 | 62.94% |
| Apr 30, 2017 | 60.88% |
| Jan 31, 2017 | 51.76% |
| Oct 31, 2016 | 59.71% |
| Jul 31, 2016 | 64.62% |
| Apr 30, 2016 | 62.89% |
| Jan 31, 2016 | 51.36% |
| Oct 31, 2015 | 57.85% |
| Jul 31, 2015 | 60.95% |
| Apr 30, 2015 | 59.99% |
| Jan 31, 2015 | 50.31% |
| Oct 31, 2014 | 55.95% |
| Jul 31, 2014 | 56.34% |
| Apr 30, 2014 | 56.64% |
| Jan 31, 2014 | 49.08% |
| Oct 31, 2013 | 54.94% |
| Jul 31, 2013 | 55.69% |
| Apr 30, 2013 | 52.37% |