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 29.34 Bn 22.03 Bn 662.02 Mn 208.32 Mn
2 BrightSpring Health Services 13.49 Bn 12.59 Bn 482.22 Mn -
3 Healthequity 7.96 Bn 7.70 Bn 256.31 Mn 26.83 Mn
4 10x Genomics 6.17 Bn 5.63 Bn 106.18 Mn 56.85 Mn
5 Hinge Health 6.02 Bn 5.70 Bn 154.23 Mn 30.34 Mn
6 MiniMed 4.19 Bn 3.89 Bn 480.00 Mn 99.00 Mn
7 Waystar Holding 4.14 Bn 4.07 Bn 216.84 Mn 45.83 Mn
8 Doximity 3.82 Bn 3.08 Bn 125.97 Mn 39.11 Mn
9 Privia Health 3.10 Bn 2.73 Bn - 8.13 Mn
10 Omnicell 1.81 Bn 1.57 Bn 140.36 Mn 21.52 Mn

Historic Data

Download Data
DateValue
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