Healthequity (HQY) Research & Development (2013 - 2026)
Healthequity (HQY) recorded quarterly Research & Development of $67.8 million in Q2 2026, down 3.68% quarter-over-quarter from $70.4 million in Q1 2026, and up 10.31% on a YoY basis from $61.4 million in Q2 2025.
Healthequity (HQY) Research & Development (2013 - 2026) Analysis & Trends
Healthequity's Research & Development history runs 14 years deep, the most recent figure standing at $67.8 million for Q2 2026.
- In Q2 2026, Research & Development rose 10.31% year-over-year to $67.8 million; the TTM figure through Apr 2026 stood at $268.8 million (up 9.79% YoY), while the FY2026 annual figure was $262.5 million, up 9.6% from the prior year.
- Research & Development was $67.8 million for Q2 2026 at Healthequity, down from $70.4 million in the prior quarter.
- In the past five years, Research & Development ranged from a high of $70.4 million in Q1 2026 to a low of $45.2 million in Q2 2022.
- Historically, Research & Development has averaged $57.1 million across 5 years, with a median of $55.9 million in 2023.
- The sharpest annual moves came in 2022 and 2024: Research & Development jumped 42.11% in 2022, then climbed 4.77% in 2024.
- A 5-year view of Research & Development shows it stood at $48.9 million in 2022, then advanced by 13.75% to $55.6 million in 2023, then grew by 8.23% to $60.2 million in 2024, then advanced by 9.52% to $65.9 million in 2025, then grew by 2.81% to $67.8 million in 2026.
- The last three Research & Development figures came in at $67.8 million (Q2 2026), $70.4 million (Q1 2026), and $65.9 million (Q4 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 24.83 Bn | 17.52 Bn | 662.02 Mn | 208.32 Mn |
| 2 | BrightSpring Health Services | 13.57 Bn | 12.69 Bn | 482.22 Mn | - |
| 3 | Healthequity | 7.20 Bn | 6.93 Bn | 256.31 Mn | 67.77 Mn |
| 4 | Hinge Health | 5.42 Bn | 5.11 Bn | 154.23 Mn | 30.34 Mn |
| 5 | 10x Genomics | 4.46 Bn | 3.92 Bn | 106.18 Mn | 56.85 Mn |
| 6 | Doximity | 3.81 Bn | 3.06 Bn | 125.97 Mn | 39.11 Mn |
| 7 | Waystar Holding | 3.52 Bn | 3.36 Bn | 268.04 Mn | 18.37 Mn |
| 8 | Privia Health | 2.94 Bn | 2.57 Bn | 595.71 Mn | - |
| 9 | Omnicell | 1.76 Bn | 1.59 Bn | 140.36 Mn | 21.52 Mn |
| 10 | Teladoc Health | 1.45 Bn | 696.57 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 |