Stablecoin Development (SDEV) Cost of Revenue (2013 - 2025)
Stablecoin Development (SDEV) recorded Cost of Revenue of $479,000 in Q3 2025.
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Analysis
Stablecoin Development (SDEV) Cost of Revenue (2013 - 2025) Analysis & Trends
On a TTM basis, Stablecoin Development's Cost of Revenue came in at $4.59 million as of Sep 30, 2025, up 72.2% year-over-year; for FY2024, it was $3.3 million, down 24.5% from FY2023.
- Annual Cost of Revenue has a five-year compound annual growth rate of 13.7% (FY2019 to FY2024).
- Across earlier years, Cost of Revenue came in at $4.37 million in FY2023 (-34.0%), $6.62 million in FY2022 (+79.5%), $3.69 million in FY2021 (-7.1%) and $3.97 million in FY2020 (+128.4%).
- The Q3 2025 figure is the lowest quarterly Cost of Revenue since Q1 2021.
- On a year-over-year basis, Cost of Revenue rose in two of the last four quarters, with growth averaging 34.1%.
- Peak year-over-year performance for Cost of Revenue in the last five years was growth of 224.2% in Q4 2024, against a decline of 69.9% in Q2 2021 at the low end.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 174.75 Bn | 120.88 Bn | - | - |
| 2 | Spdr Gold Trust | 137.39 Bn | -420.61 Bn | - | - |
| 3 | Blackstone | 85.63 Bn | 75.61 Bn | - | - |
| 4 | Brookfield | 81.94 Bn | -101.37 Bn | - | - |
| 5 | Kkr | 77.88 Bn | -1.97 Bn | - | - |
| 6 | Brookfield Asset Management | 72.12 Bn | 66.93 Bn | - | - |
| 7 | Apollo Global Management | 65.73 Bn | -17.07 Bn | 10.56 Bn | 594.00 Mn |
| 8 | Wheaton Precious Metals | 59.93 Bn | 55.35 Bn | 687.86 Mn | 241.35 Mn |
| 9 | Franco Nevada | 46.57 Bn | 43.94 Bn | 451.00 Mn | 129.90 Mn |
| 10 | Stablecoin Development | 25.28 Mn | -10.36 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2025 | 479,000.00 |
| Dec 31, 2024 | 3.30 Mn |
| Jun 30, 2024 | 808,000.00 |
| Mar 31, 2024 | 837,000.00 |
| Dec 31, 2023 | 1.02 Mn |
| Sep 30, 2023 | 819,000.00 |
| Jun 30, 2023 | 1.80 Mn |
| Mar 31, 2023 | 739,000.00 |
| Dec 31, 2022 | 1.89 Mn |
| Sep 30, 2022 | 1.45 Mn |
| Jun 30, 2022 | 1.82 Mn |
| Mar 31, 2022 | 1.46 Mn |
| Dec 31, 2021 | 1.50 Mn |
| Sep 30, 2021 | 712,000.00 |
| Jun 30, 2021 | 614,000.00 |
| Mar 31, 2021 | 455,000.00 |
| Dec 31, 2020 | 813,000.00 |
| Sep 30, 2020 | 536,000.00 |
| Jun 30, 2020 | 2.04 Mn |
| Mar 31, 2020 | 581,000.00 |
API Access
Stablecoin Development 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=SDEV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "SDEV", "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=SDEV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();