Healthequity (HQY) Research & Development (2013 - 2026)
Healthequity's quarterly Research & Development came in at $70.4 million in Q1 2026, up 8.82% year-on-year from $64.7 million in Q1 2025, and up 6.73% quarter-over-quarter from $65.9 million in Q4 2025.
Healthequity has reported Research & Development for 14 years, with the latest figure at $70.4 million in Q1 2026.
- For the quarter ending Q1 2026, Research & Development rose 8.82% year-over-year to $70.4 million; the trailing twelve-month figure through Jan 2026 stood at $262.5 million (up 9.6% YoY), and the FY2026 full-year result was $262.5 million, up 9.6% from the prior year.
- Research & Development for Q1 2026 stood at $70.4 million, up from $65.9 million in the prior quarter.
- The five-year high for Research & Development was $70.4 million in Q1 2026, with the low at $45.2 million in Q2 2022.
- Average Research & Development over 5 years is $56.5 million, with a median of $55.6 million recorded in 2023.
- Year-over-year, Research & Development soared 42.11% in 2022 and increased 4.77% in 2024.
- Tracing HQY's Research & Development over 5 years: stood at $48.9 million in 2022, then climbed by 13.75% to $55.6 million in 2023, then increased by 8.23% to $60.2 million in 2024, then climbed by 9.52% to $65.9 million in 2025, then increased by 6.73% to $70.4 million in 2026.
- The last three Research & Development figures came in at $70.4 million (Q1 2026), $65.9 million (Q4 2025), and $64.8 million (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 30.85 Bn | 24.28 Bn | 622.47 Mn | 198.79 Mn |
| 2 | BrightSpring Health Services | 12.29 Bn | 11.41 Bn | 482.22 Mn | - |
| 3 | Healthequity | 7.80 Bn | 7.48 Bn | 256.31 Mn | 67.77 Mn |
| 4 | Hinge Health | 4.82 Bn | 4.51 Bn | 154.23 Mn | 30.34 Mn |
| 5 | Doximity | 4.21 Bn | 3.46 Bn | 125.97 Mn | 39.11 Mn |
| 6 | Waystar Holding | 4.18 Bn | 4.03 Bn | 268.04 Mn | 18.37 Mn |
| 7 | 10x Genomics | 3.78 Bn | 3.24 Bn | 106.18 Mn | 56.85 Mn |
| 8 | Privia Health | 2.65 Bn | 2.28 Bn | 595.71 Mn | - |
| 9 | Omnicell | 1.95 Bn | 1.78 Bn | 140.36 Mn | 21.52 Mn |
| 10 | Teladoc Health | 1.42 Bn | 672.39 Mn | 562.57 Mn | 67.87 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 30, 2026 | 67.77 Mn |
| Jan 31, 2026 | 70.35 Mn |
| Oct 31, 2025 | 65.92 Mn |
| Jul 31, 2025 | 64.80 Mn |
| Apr 30, 2025 | 61.44 Mn |
| Jan 31, 2025 | 64.65 Mn |
| Oct 31, 2024 | 60.19 Mn |
| Jul 31, 2024 | 58.58 Mn |
| Apr 30, 2024 | 56.09 Mn |
| Jan 31, 2024 | 55.24 Mn |
| Oct 31, 2023 | 55.61 Mn |
| Jul 31, 2023 | 54.77 Mn |
| Apr 30, 2023 | 53.19 Mn |
| Jan 31, 2023 | 52.72 Mn |
| Oct 31, 2022 | 48.89 Mn |
| Jul 31, 2022 | 46.58 Mn |
| Apr 30, 2022 | 45.18 Mn |
| Jan 31, 2022 | 45.93 Mn |
| Oct 31, 2021 | 38.07 Mn |
| Jul 31, 2021 | 37.90 Mn |
| Apr 30, 2021 | 35.47 Mn |
| Jan 31, 2021 | 32.32 Mn |
| Oct 31, 2020 | 30.76 Mn |
| Jul 31, 2020 | 30.65 Mn |
| Apr 30, 2020 | 31.08 Mn |
| Jan 31, 2020 | 31.52 Mn |
| Oct 31, 2019 | 23.51 Mn |
| Jul 31, 2019 | 11.65 Mn |
| Apr 30, 2019 | 10.91 Mn |
| Jan 31, 2019 | 10.00 Mn |
| Oct 31, 2018 | 8.68 Mn |
| Jul 31, 2018 | 8.40 Mn |
| Apr 30, 2018 | 7.98 Mn |
| Jan 31, 2018 | 7.48 Mn |
| Oct 31, 2017 | 6.87 Mn |
| Jul 31, 2017 | 6.80 Mn |
| Apr 30, 2017 | 6.24 Mn |
| Jan 31, 2017 | 6.55 Mn |
| Oct 31, 2016 | 6.21 Mn |
| Jul 31, 2016 | 4.99 Mn |
| Apr 30, 2016 | 4.63 Mn |
| Jan 31, 2016 | 4.89 Mn |
| Oct 31, 2015 | 4.42 Mn |
| Jul 31, 2015 | 4.00 Mn |
| Apr 30, 2015 | 3.52 Mn |
| Jan 31, 2015 | 3.20 Mn |
| Oct 31, 2014 | 2.81 Mn |
| Jul 31, 2014 | 2.30 Mn |
| Apr 30, 2014 | 2.19 Mn |
| Jan 31, 2014 | 2.01 Mn |
| Oct 31, 2013 | 1.80 Mn |
| Jul 31, 2013 | 1.66 Mn |