51Talk Online Education (COE) Cost of Revenue (2015 - 2025)

51Talk Online Education's Cost of Revenue history runs 11 years deep, the most recent figure standing at $20.4 million for Q4 2025.

• In Q4 2025, Cost of Revenue rose 101.64% year-over-year to $20.4 million; the TTM figure through Dec 2025 stood at $62.0 million (up 85.7% YoY), while the FY2025 annual figure was $62.3 million, up 86.61% from the prior year.
• Cost of Revenue was $20.4 million for Q4 2025 at 51Talk Online Education, up from $17.7 million in the prior quarter.
• In the past five years, Cost of Revenue ranged from a high of $49.1 million in Q1 2021 to a low of $2.0 million in Q1 2022.
• Historically, Cost of Revenue has averaged $14.8 million across 5 years, with a median of $8.0 million in 2024.
• The sharpest annual moves came in 2021 and 2022: Cost of Revenue soared 141.35% in 2021, then slumped 95.94% in 2022.
• A 5-year view of Cost of Revenue shows it stood at $36.8 million in 2021, then slumped by 89.19% to $4.0 million in 2022, then surged by 80.23% to $7.2 million in 2023, then jumped by 40.92% to $10.1 million in 2024, then soared by 101.64% to $20.4 million in 2025.
• The last three Cost of Revenue figures came in at $20.4 million (Q4 2025), $17.7 million (Q3 2025), and $12.8 million (Q2 2025), per Business Quant data.