Healthequity (HQY) Operating Expenses (2013 - 2026)
Healthequity (HQY) posted Operating Expenses of $159.3 million for Q3 2026, up 3.85% on a QoQ basis from $153.4 million in Q2 2026, and up 11.39% year-over-year from $143.0 million in Q3 2025.
Analysis
Healthequity (HQY) Operating Expenses (2013 - 2026) Analysis & Trends
Healthequity has reported Operating Expenses for 14 years, with the latest figure at $159.3 million in Q3 2026.
- On a quarterly basis, Operating Expenses rose 11.39% year-over-year to $159.3 million in Q3 2026; TTM through Jul 2026 was $619.1 million, a 1.73% increase from a year earlier, with the FY2026 full-year figure at $590.7 million, down 3.95% from the prior year.
- Operating Expenses was $159.3 million for Q3 2026 at Healthequity, up from $153.4 million in the prior quarter.
- The five-year high for Operating Expenses was $177.4 million in Q4 2024, with the low at $118.9 million in Q2 2022.
- Average Operating Expenses over 5 years is $138.9 million, with a median of $141.2 million recorded in 2025.
- The sharpest annual moves came in 2024 and 2025: Operating Expenses jumped 38.28% in 2024, then slipped 15.8% in 2025.
- Over 5 years, Operating Expenses stood at $121.8 million in 2022, then rose by 5.35% to $128.3 million in 2023, then jumped by 38.28% to $177.4 million in 2024, then dropped by 15.8% to $149.4 million in 2025, then increased by 6.63% to $159.3 million in 2026.
- The last three Operating Expenses figures came in at $159.3 million (Q3 2026), $153.4 million (Q2 2026), and $157.1 million (Q1 2026), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Bank of New York Mellon | 111.85 Bn | 51.23 Bn | - | 3.44 Bn |
| 2 | State Street | 53.36 Bn | 53.36 Bn | - | 2.66 Bn |
| 3 | Northern Trust | 34.15 Bn | 34.15 Bn | - | 1.64 Bn |
| 4 | Sei Investments | 13.24 Bn | 13.16 Bn | - | 444.60 Mn |
| 5 | Healthequity | 7.97 Bn | 7.71 Bn | 257.95 Mn | 159.26 Mn |
| 6 | AtlasClear Holdings | 28.46 Mn | -12.04 Mn | - | 7.13 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 159.26 Mn |
| Apr 30, 2026 | 153.36 Mn |
| Jan 31, 2026 | 157.08 Mn |
| Oct 31, 2025 | 149.37 Mn |
| Jul 31, 2025 | 142.98 Mn |
| Apr 30, 2025 | 141.23 Mn |
| Jan 31, 2025 | 146.89 Mn |
| Oct 31, 2024 | 177.40 Mn |
| Jul 31, 2024 | 145.12 Mn |
| Apr 30, 2024 | 145.51 Mn |
| Jan 31, 2024 | 124.43 Mn |
| Oct 31, 2023 | 128.29 Mn |
| Jul 31, 2023 | 126.93 Mn |
| Apr 30, 2023 | 125.29 Mn |
| Jan 31, 2023 | 121.56 Mn |
| Oct 31, 2022 | 121.78 Mn |
| Jul 31, 2022 | 120.66 Mn |
| Apr 30, 2022 | 118.89 Mn |
| Jan 31, 2022 | 132.86 Mn |
| Oct 31, 2021 | 103.94 Mn |