Skyward Specialty Insurance (SKWD) Cost of Revenue (2022 - 2026)

Skyward Specialty Insurance (SKWD) has reported Cost of Revenue for 5 consecutive years, with $60.1 million the latest figure, recorded in Q1 2026.

• In Q1 2026, Cost of Revenue fell 67.92% year-over-year to $60.1 million; the TTM figure through Mar 2026 stood at $667.8 million (down 6.37% YoY), while the FY2025 annual figure was $795.0 million, up 18.69% from the prior year.
• Cost of Revenue slipped to $60.1 million in Q1 2026 per SKWD's latest filing, from $212.7 million in the prior quarter.
• Across five years, Cost of Revenue topped out at $417.0 million in Q4 2023 and bottomed at $27.1 million in Q1 2022.
• Historically, Cost of Revenue has averaged $158.4 million across 5 years, with a median of $159.1 million in 2024.
• Annual changes were most pronounced in 2024 — Cost of Revenue jumped 374.12% — and 2026, when it plunged 67.92%.
• Skyward Specialty Insurance's Cost of Revenue stood at $315.8 million in 2022, then soared by 32.07% to $417.0 million in 2023, then slumped by 52.92% to $196.3 million in 2024, then grew by 8.33% to $212.7 million in 2025, then slumped by 71.75% to $60.1 million in 2026.
• Business Quant data shows SKWD's Cost of Revenue at $60.1 million in Q1 2026, $212.7 million in Q4 2025, and $213.8 million in Q3 2025.