Youdao (DAO) Cost of Revenue (2018 - 2026)
Youdao (DAO) posted quarterly Cost of Revenue of $108.1 million for Q1 2026, up 14.69% year-over-year from $94.3 million in Q1 2025, and down 12.02% quarter-over-quarter from $122.9 million in Q4 2025.
Youdao (DAO) Cost of Revenue (2018 - 2026) Analysis & Trends
Youdao (DAO) has reported Cost of Revenue for 9 consecutive years, with $108.1 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Cost of Revenue rose 14.69% year-over-year to $108.1 million; the TTM figure through Mar 2026 stood at $475.9 million (up 20.23% YoY), while the FY2025 annual figure was $470.8 million, up 19.42% from the prior year.
- Cost of Revenue eased to $108.1 million in Q1 2026 per DAO's latest filing, from $122.9 million in the prior quarter.
- Across five years, Cost of Revenue topped out at $132.1 million in Q3 2025 and bottomed at $81.6 million in Q2 2022.
- Historically, Cost of Revenue has averaged $99.8 million across 5 years, with a median of $95.8 million in 2024.
- Annual changes were most pronounced in 2022 — Cost of Revenue declined 14.57% — and 2025, when it increased 28.31%.
- Youdao's Cost of Revenue stood at $98.5 million in 2022, then grew by 6.07% to $104.5 million in 2023, then slipped by 8.33% to $95.8 million in 2024, then climbed by 28.31% to $122.9 million in 2025, then fell by 12.02% to $108.1 million in 2026.
- Business Quant data shows DAO's Cost of Revenue at $108.1 million in Q1 2026, $122.9 million in Q4 2025, and $132.1 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | New Oriental Education & Technology | 84.71 Bn | 82.71 Bn | 812.22 Mn | 717.31 Mn |
| 2 | 51Talk Online Education | 7.32 Bn | 7.28 Bn | 22.97 Mn | 8.21 Mn |
| 3 | Laureate Education | 5.21 Bn | 5.05 Bn | 237.67 Mn | 378.20 Mn |
| 4 | Graham Holdings | 4.98 Bn | 3.74 Bn | 777.03 Mn | 525.48 Mn |
| 5 | Covista | 4.66 Bn | 4.66 Bn | 284.63 Mn | 216.75 Mn |
| 6 | Grand Canyon Education | 3.78 Bn | 3.50 Bn | 204.08 Mn | 59.96 Mn |
| 7 | Stride | 3.50 Bn | 2.55 Bn | 217.28 Mn | 418.78 Mn |
| 8 | McGraw Hill | 2.38 Bn | 2.13 Bn | 388.89 Mn | 74.83 Mn |
| 9 | TAL Education | 2.28 Bn | -401.26 Mn | 227.32 Mn | 202.24 Mn |
| 10 | Youdao | 2.08 Bn | 2.00 Bn | 87.31 Mn | 108.11 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 108.11 Mn |
| Mar 31, 2026 | 108.11 Mn |
| Dec 31, 2025 | 122.88 Mn |
| Dec 31, 2025 | 122.88 Mn |
| Sep 30, 2025 | 132.13 Mn |
| Sep 30, 2025 | 132.13 Mn |
| Jun 30, 2025 | 112.82 Mn |
| Jun 30, 2025 | 112.82 Mn |
| Mar 31, 2025 | 94.26 Mn |
| Mar 31, 2025 | 94.26 Mn |
| Dec 31, 2024 | 95.77 Mn |
| Dec 31, 2024 | 95.77 Mn |
| Sep 30, 2024 | 111.59 Mn |
| Sep 30, 2024 | 111.59 Mn |
| Jun 30, 2024 | 94.25 Mn |
| Jun 30, 2024 | 94.25 Mn |
| Mar 31, 2024 | 98.38 Mn |
| Mar 31, 2024 | 98.38 Mn |
| Dec 31, 2023 | 104.47 Mn |
| Dec 31, 2023 | 104.47 Mn |