Healthequity (HQY) Research & Development (2013 - 2026)
Healthequity (HQY) posted quarterly Research & Development of $26.8 million for Q2 2026, up 3.27% year-over-year from $26.0 million in Q2 2025, and down 86.04% quarter-over-quarter from $192.2 million in Q1 2026.
Healthequity (HQY) Research & Development (2013 - 2026) Analysis & Trends
Healthequity's Research & Development history runs 14 years deep, the most recent figure standing at $26.8 million for Q2 2026.
- In Q2 2026, Research & Development rose 3.27% year-over-year to $26.8 million; the TTM figure through Apr 2026 stood at $308.2 million (up 10.26% YoY), while the FY2026 annual figure was $262.5 million, up 9.6% from the prior year.
- Research & Development for Q2 2026 stood at $26.8 million, down from $192.2 million in the prior quarter.
- The five-year high for Research & Development was $192.2 million in Q1 2026, with the low at $15.8 million in Q3 2022.
- The 5-year median for Research & Development is $26.4 million (2025), against an average of $58.9 million.
- The sharpest annual moves came in 2024 and 2025: Research & Development slumped 85.7% in 2024, then jumped 735.93% in 2025.
- Healthequity's Research & Development stood at $17.2 million in 2022, then advanced by 13.98% to $19.7 million in 2023, then jumped by 206.21% to $60.2 million in 2024, then slumped by 59.44% to $24.4 million in 2025, then rose by 9.92% to $26.8 million in 2026.
- Business Quant data shows HQY's Research & Development at $26.8 million in Q2 2026, $192.2 million in Q1 2026, and $24.4 million in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 39.72 Bn | 32.40 Bn | 662.02 Mn | 208.32 Mn |
| 2 | BrightSpring Health Services | 12.19 Bn | 11.64 Bn | 492.75 Mn | - |
| 3 | Healthequity | 8.79 Bn | 8.52 Bn | 256.31 Mn | 26.83 Mn |
| 4 | 10x Genomics | 7.31 Bn | 6.76 Bn | 112.50 Mn | 56.79 Mn |
| 5 | Hinge Health | 7.10 Bn | 6.71 Bn | 183.95 Mn | 81.41 Mn |
| 6 | MiniMed | 5.66 Bn | 5.36 Bn | 480.00 Mn | 99.00 Mn |
| 7 | Waystar Holding | 4.76 Bn | 4.56 Bn | 221.99 Mn | 50.38 Mn |
| 8 | Doximity | 4.46 Bn | 3.77 Bn | 132.93 Mn | 45.05 Mn |
| 9 | Heartflow | 3.66 Bn | 3.28 Bn | 53.19 Mn | 30.58 Mn |
| 10 | Privia Health | 2.78 Bn | 2.42 Bn | - | 8.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 30, 2026 | 26.83 Mn |
| Jan 31, 2026 | 192.19 Mn |
| Oct 31, 2025 | 24.41 Mn |
| Jul 31, 2025 | 64.80 Mn |
| Apr 30, 2025 | 25.98 Mn |
| Jan 31, 2025 | 171.86 Mn |
| Oct 31, 2024 | 60.19 Mn |
| Jul 31, 2024 | 21.53 Mn |
| Apr 30, 2024 | 23.49 Mn |
| Jan 31, 2024 | 20.56 Mn |
| Oct 31, 2023 | 19.66 Mn |
| Jul 31, 2023 | 19.12 Mn |
| Apr 30, 2023 | 53.19 Mn |
| Jan 31, 2023 | 143.73 Mn |
| Oct 31, 2022 | 17.25 Mn |
| Jul 31, 2022 | 15.84 Mn |
| Apr 30, 2022 | 45.18 Mn |
| Jan 31, 2022 | 115.08 Mn |
| Oct 31, 2021 | 12.73 Mn |
| Jul 31, 2021 | 15.48 Mn |