Healthequity (HQY) Gross Margin (2013 - 2026)
Healthequity (HQY) recorded quarterly Gross Margin of 72.27% in Q2 2026, up 5.99% quarter-over-quarter from 68.19% in Q1 2026, and up 447.0% on a YoY basis from 13.21% in Q2 2025.
Healthequity (HQY) Gross Margin (2013 - 2026) Analysis & Trends
Healthequity's Gross Margin history runs 14 years deep, the most recent figure standing at 72.27% for Q2 2026.
- In Q2 2026, Gross Margin rose 447.0% year-over-year to 72.27%; the TTM figure through Apr 2026 stood at 70.68% (up 516.0% YoY), while the FY2026 annual figure was 69.52%, up 474.0% from the prior year.
- Gross Margin was 72.27% for Q2 2026 at Healthequity, up from 68.19% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 72.27% in Q2 2026 to a low of 51.95% in Q1 2022.
- Historically, Gross Margin has averaged 63.28% across 5 years, with a median of 63.07% in 2023.
- The sharpest annual moves came in 2022 and 2026: Gross Margin plunged 198 bps in 2022, then jumped 756 bps in 2026.
- A 5-year view of Gross Margin shows it stood at 58.92% in 2022, then gained by 8 bps to 63.87% in 2023, then rose by 3 bps to 65.58% in 2024, then gained by 8 bps to 70.79% in 2025, then gained by 2 bps to 72.27% in 2026.
- The last three Gross Margin figures came in at 72.27% (Q2 2026), 68.19% (Q1 2026), and 70.79% (Q4 2025), per Business Quant data.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 24.83 Bn | 17.52 Bn | 662.02 Mn | 74.98% |
| 2 | BrightSpring Health Services | 13.57 Bn | 12.69 Bn | 482.22 Mn | 13.34% |
| 3 | Healthequity | 7.20 Bn | 6.93 Bn | 256.31 Mn | 72.27% |
| 4 | Hinge Health | 5.42 Bn | 5.11 Bn | 154.23 Mn | 84.60% |
| 5 | 10x Genomics | 4.46 Bn | 3.92 Bn | 106.18 Mn | 70.39% |
| 6 | Doximity | 3.81 Bn | 3.06 Bn | 125.97 Mn | 86.65% |
| 7 | Waystar Holding | 3.52 Bn | 3.36 Bn | 268.04 Mn | 85.40% |
| 8 | Privia Health | 2.94 Bn | 2.57 Bn | 595.71 Mn | 98.65% |
| 9 | Omnicell | 1.76 Bn | 1.59 Bn | 140.36 Mn | 45.30% |
| 10 | Teladoc Health | 1.45 Bn | 696.57 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% |