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
DateValue
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