Marpai (MRAI) Cost of Revenue (2021 - 2026)
Marpai (MRAI) reported Cost of Revenue of $3.17 million for Q2 2026, down 19.0% from $3.91 million a year earlier and down 2.2% from the prior quarter.
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Analysis
Marpai (MRAI) Cost of Revenue (2021 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Marpai's Cost of Revenue came in at $12.33 million, down 24.9% year-over-year; for FY2025, it was $13.32 million, down 30.1% from FY2024.
- Cost of Revenue has a four-year compound annual growth rate of 6.7% (FY2021 to FY2025).
- By year, Cost of Revenue came in at $19.07 million in FY2024 (-21.3%), $24.24 million in FY2023 (+41.4%), $17.14 million in FY2022 (+66.5%) and $10.29 million in FY2021.
- Five-year quarterly Cost of Revenue spans a low of $2.96 million in Q4 2025 and a high of $6.43 million in Q2 2023.
- Year over year, Cost of Revenue has now declined in each of the last ten quarters, with an average decline of 23.4% over the last eight quarters.
- The high point for year-over-year Cost of Revenue in five years was Q3 2023 (growth of 57.0%); the low point was Q3 2025 (a decline of 41.1%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $3.24 million (Q1 2026), $2.96 million (Q4 2025) and $2.96 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 336.54 Bn | 221.18 Bn | 36.67 Bn | 75.36 Bn |
| 2 | Cvs Health | 110.50 Bn | 63.10 Bn | 47.23 Bn | 58.86 Bn |
| 3 | Mckesson | 105.27 Bn | 91.73 Bn | 3.69 Bn | 101.70 Bn |
| 4 | Elevance Health | 83.85 Bn | -57.90 Bn | 13.45 Bn | 37.02 Bn |
| 5 | Cigna | 71.48 Bn | 41.02 Bn | 14.97 Bn | 56.70 Bn |
| 6 | Cencora | 58.97 Bn | 48.06 Bn | 3.61 Bn | 81.15 Bn |
| 7 | Cardinal Health | 53.10 Bn | 37.10 Bn | 2.56 Bn | 61.11 Bn |
| 8 | Humana | 46.62 Bn | -41.18 Bn | 5.50 Bn | 35.37 Bn |
| 9 | Centene | 31.12 Bn | -59.17 Bn | 14.55 Bn | 39.03 Bn |
| 10 | Marpai | 92.03 Mn | 91.11 Mn | 997,000.00 | 3.17 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 3.17 Mn |
| Mar 31, 2026 | 3.24 Mn |
| Dec 31, 2025 | 2.96 Mn |
| Sep 30, 2025 | 2.96 Mn |
| Jun 30, 2025 | 3.91 Mn |
| Mar 31, 2025 | 3.48 Mn |
| Dec 31, 2024 | 3.99 Mn |
| Sep 30, 2024 | 5.03 Mn |
| Jun 30, 2024 | 5.17 Mn |
| Mar 31, 2024 | 4.87 Mn |
| Dec 31, 2023 | 5.71 Mn |
| Sep 30, 2023 | 5.69 Mn |
| Jun 30, 2023 | 6.43 Mn |
| Mar 31, 2023 | 6.41 Mn |
| Dec 31, 2022 | 4.81 Mn |
| Sep 30, 2022 | 3.63 Mn |
| Jun 30, 2022 | 4.15 Mn |
| Mar 31, 2022 | 4.55 Mn |
| Dec 31, 2021 | 4.23 Mn |
| Sep 30, 2021 | 3.34 Mn |
API Access
Marpai Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=MRAI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "MRAI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=MRAI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();