RLX Technology (RLX) Cost of Revenue (2019 - 2026)
RLX Technology (RLX) recorded Cost of Revenue of $82.4 million in the quarter ended Jun 30, 2026, up 6.9% from $77.06 million a year earlier but down 41.1% from the prior quarter.
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Analysis
RLX Technology (RLX) Cost of Revenue (2019 - 2026) Analysis & Trends
On a TTM basis, RLX Technology's Cost of Revenue came in at $421.42 million as of Jun 30, 2026, up 49.9% year-over-year; for the year ended Dec 31, 2025, it came in at $348.01 million, up 47.9% from the prior year.
- Annual Cost of Revenue has a five-year compound annual growth rate of -0.2% (years ended Dec 2020 to Dec 2025).
- Across earlier years, Cost of Revenue came in at $235.37 million in the year ended Dec 31, 2024 (+95.1%), $120.61 million in the year ended Dec 31, 2023 (-72.0%), $431.33 million in the year ended Dec 31, 2022 (-43.3%) and $760.9 million in the year ended Dec 31, 2021 (+116.6%).
- Quarterly Cost of Revenue has ranged from $11.46 million in the quarter ended Mar 31, 2023 to $187.52 million in the quarter ended Jun 30, 2022 over the past five years.
- On a year-over-year basis, Cost of Revenue has increased for 11 consecutive quarters, with growth averaging 58.4% over the last eight quarters.
- Peak year-over-year performance for Cost of Revenue in the last five years was growth of 296.0% in the quarter ended Mar 31, 2024, against a decline of 93.1% in the quarter ended Mar 31, 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at $139.96 million (quarter ended Mar 31, 2026), $103.36 million (quarter ended Dec 31, 2025) and $95.7 million (quarter ended Sep 30, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 292.24 Bn | 273.81 Bn | 7.66 Bn | 3.53 Bn |
| 2 | British American Tobacco p.l.c | 121.70 Bn | 100.85 Bn | - | - |
| 3 | Altria | 112.46 Bn | 98.66 Bn | 3.82 Bn | 1.54 Bn |
| 4 | Curaleaf Holdings | 2.67 Bn | 2.27 Bn | 169.91 Mn | 170.19 Mn |
| 5 | RLX Technology | 2.65 Bn | -916.64 Mn | 52.74 Mn | 82.40 Mn |
| 6 | Trulieve Cannabis | 2.06 Bn | 674.09 Mn | 162.29 Mn | 108.66 Mn |
| 7 | Green Thumb Industries | 1.30 Bn | 155.26 Mn | 137.87 Mn | 168.81 Mn |
| 8 | Cronos | 1.19 Bn | -2.03 Bn | 28.45 Mn | 42.15 Mn |
| 9 | Turning Point Brands | 1.12 Bn | 246.72 Mn | 93.70 Mn | 49.26 Mn |
| 10 | Verano Holdings | 771.72 Mn | 445.33 Mn | 99.70 Mn | 118.22 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 82.40 Mn |
| Mar 31, 2026 | 139.96 Mn |
| Dec 31, 2025 | 103.36 Mn |
| Sep 30, 2025 | 95.70 Mn |
| Jun 30, 2025 | 77.06 Mn |
| Mar 31, 2025 | 65.81 Mn |
| Dec 31, 2024 | 70.73 Mn |
| Sep 30, 2024 | 67.46 Mn |
| Jun 30, 2024 | 55.14 Mn |
| Mar 31, 2024 | 45.37 Mn |
| Dec 31, 2023 | 46.10 Mn |
| Sep 30, 2023 | 30.44 Mn |
| Jun 30, 2023 | 23.68 Mn |
| Mar 31, 2023 | 11.46 Mn |
| Dec 31, 2022 | 20.16 Mn |
| Sep 30, 2022 | 73.45 Mn |
| Jun 30, 2022 | 187.52 Mn |
| Mar 31, 2022 | 166.81 Mn |
| Dec 31, 2021 | 178.71 Mn |
| Sep 30, 2021 | 158.42 Mn |
API Access
RLX Technology 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=RLX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "RLX", "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=RLX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();