HealthEquity, Inc. (HQY) Revenue History
Annual and quarterly revenue from 2015 to 2026
Compound Annual Growth Rate (CAGR)
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HQY Revenue Growth
Revenue Breakdown (FY 2026)
HQY's revenue distribution by segment and geography for fiscal year 2026
By Product/Segment
HQY Revenue Analysis (2015–2026)
As of May 8, 2026, HealthEquity, Inc. (HQY) generated trailing twelve-month (TTM) revenue of $1.31 billion, reflecting solid growth of +7.3% year-over-year. The most recent quarter (Q4 2026) recorded $334.6 million in revenue, up 3.9% sequentially.
Looking at the longer-term picture, HQY's 5-year compound annual growth rate (CAGR) stands at +12.4%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $1.31 billion in 2026, representing a new all-time high.
Revenue diversification analysis shows HQY's business is primarily driven by Financial Service, Other (48%), Service (37%), and Credit and Debit Card (15%).
When compared to Healthcare sector peers including WEX (+3.3% YoY), BEN, and INVA (+13.6% YoY), HQY has underperformed the peer group in terms of revenue growth. Compare HQY vs WEX →
HQY Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| HQYCurrent | $1.3B | +7.3% | +12.4% | 24.6% | |
 WEX | $2.7B | +3.3% | +11.3% | 25.4% | |
 BEN | $8.8B | - | - | 6.9% | |
 INVA | $425M | +13.6% | +4.8% | 38.5% | |
 GWRE | $1.2B | +23.7% | +10.1% | 3.4% | |
 PCTY | $1.6B | +14.7% | +23.2% | 19.1% |
HQY Historical Revenue Data (2015–2026)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2026 | $1.31B | +9.5% | $913.1M | 69.5% | $322.5M | 24.6% |
| 2025 | $1.20B | +20.0% | $692.6M | 57.7% | $230.1M | 19.2% |
| 2024 | $999.6M | +16.0% | $529.9M | 53.0% | $128.1M | 12.8% |
| 2023 | $861.7M | +13.9% | $395.5M | 45.9% | $37.7M | 4.4% |
| 2022 | $756.6M | +3.1% | $340.9M | 45.1% | $40.6M | 5.4% |
| 2021 | $733.6M | +37.9% | $339.3M | 46.2% | $80.0M | 10.9% |
| 2020 | $532.0M | +85.2% | $291.2M | 54.7% | $109.1M | 20.5% |
| 2019 | $287.2M | +25.1% | $175.3M | 61.0% | $77.7M | 27.0% |
| 2018 | $229.5M | +28.7% | $130.1M | 56.7% | $54.4M | 23.7% |
| 2017 | $178.4M | +40.7% | $102.1M | 57.2% | $41.2M | 23.1% |
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Start ComparisonHQY — Frequently Asked Questions
Quick answers to the most common questions about buying HQY stock.
Is HQY's revenue growth accelerating or slowing?
HQY maintains +7.3% revenue growth, in line with its 5-year CAGR of +12.4%. TTM revenue stands at $1.3B. Growth rate remains consistent with historical average.
What is HQY's long-term revenue growth rate?
HealthEquity, Inc.'s 5-year revenue CAGR of +12.4% reflects the sustained expansion pattern. Current YoY growth of +7.3% is near this long-term average.
How is HQY's revenue distributed by segment?
HQY reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2015-2026 are available for download. Segment mix reveals concentration and diversification trends.