Healthequity (HQY) Research & Development (2013 - 2026)
Healthequity's (HQY) quarterly Research & Development came in at $26.8 million in Q2 2026, up 3.27% year-on-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.
- On a quarterly basis, Research & Development rose 3.27% year-over-year to $26.8 million in Q2 2026; TTM through Apr 2026 was $308.2 million, a 10.26% increase from a year earlier, with the FY2026 full-year figure at $262.5 million, up 9.6% from the prior year.
- Research & Development retreated to $26.8 million in Q2 2026 per HQY's latest filing, from $192.2 million in the prior quarter.
- Across five years, Research & Development topped out at $192.2 million in Q1 2026 and bottomed 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.
- Across the five-year window, Research & Development tumbled 85.7% in 2024 and jumped 735.93% in 2025, its largest moves.
- Year by year, Research & Development stood at $17.2 million in 2022, then climbed by 13.98% to $19.7 million in 2023, then surged by 206.21% to $60.2 million in 2024, then sank by 59.44% to $24.4 million in 2025, then gained by 9.92% to $26.8 million in 2026.
- Per Business Quant, the three latest HQY Research & Development figures stand at $26.8 million (Q2 2026), $192.2 million (Q1 2026), and $24.4 million (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 31.78 Bn | 24.46 Bn | 662.02 Mn | 208.32 Mn |
| 2 | BrightSpring Health Services | 14.61 Bn | 13.71 Bn | 482.22 Mn | - |
| 3 | Healthequity | 8.33 Bn | 8.06 Bn | 256.31 Mn | 26.83 Mn |
| 4 | Hinge Health | 5.94 Bn | 5.63 Bn | 154.23 Mn | 30.34 Mn |
| 5 | 10x Genomics | 5.84 Bn | 5.30 Bn | 106.18 Mn | 56.85 Mn |
| 6 | MiniMed | 4.52 Bn | 4.22 Bn | 480.00 Mn | 99.00 Mn |
| 7 | Waystar Holding | 4.46 Bn | 4.40 Bn | 216.84 Mn | 45.83 Mn |
| 8 | Doximity | 3.94 Bn | 3.19 Bn | 125.97 Mn | 39.11 Mn |
| 9 | Privia Health | 3.15 Bn | 2.73 Bn | - | 8.13 Mn |
| 10 | Omnicell | 1.86 Bn | 1.62 Bn | 140.36 Mn | 21.52 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 |