Ulta Beauty (ULTA) Cost of Revenue (2010 - 2026)

Ulta Beauty has reported Cost of Revenue for 17 years, with the latest figure at $2.4 billion in Q1 2026.

• For the quarter ending Q1 2026, Cost of Revenue rose 12.11% year-over-year to $2.4 billion; the trailing twelve-month figure through Jan 2026 stood at $7.5 billion (up 9.25% YoY), and the FY2026 full-year result was $7.5 billion, up 9.25% from the prior year.
• Cost of Revenue for Q1 2026 stood at $2.4 billion, up from $1.7 billion in the prior quarter.
• The five-year high for Cost of Revenue was $2.4 billion in Q1 2026, with the low at $1.4 billion in Q3 2022.
• Historically, Cost of Revenue has averaged $1.7 billion across 5 years, with a median of $1.7 billion in 2024.
• Annual changes were most pronounced in 2022 — Cost of Revenue rose 19.22% — and 2025, when it slipped 2.7%.
• Ulta Beauty's Cost of Revenue stood at $1.4 billion in 2022, then gained by 8.79% to $1.5 billion in 2023, then advanced by 1.84% to $1.5 billion in 2024, then increased by 11.64% to $1.7 billion in 2025, then jumped by 41.88% to $2.4 billion in 2026.
• The last three Cost of Revenue figures came in at $2.4 billion (Q1 2026), $1.7 billion (Q4 2025), and $1.7 billion (Q3 2025), per Business Quant data.