Innovate (VATE) Cost of Revenue (2010 - 2025)

Innovate (VATE) has reported Cost of Revenue for 16 consecutive years, with $323.8 million the latest figure, recorded in Q4 2025.

• In Q4 2025, Cost of Revenue rose 70.24% year-over-year to $323.8 million; the TTM figure through Dec 2025 stood at $1.0 billion (up 16.48% YoY), while the FY2025 annual figure was $1.0 billion, up 16.48% from the prior year.
• Cost of Revenue came in at $323.8 million for Q4 2025 at Innovate, up from $297.4 million in the prior quarter.
• The five-year high for Cost of Revenue was $364.6 million in Q3 2022, with the low at $141.3 million in Q1 2021.
• Average Cost of Revenue over 5 years is $279.4 million, with a median of $298.6 million recorded in 2023.
• Across the five-year window, Cost of Revenue jumped 156.9% in 2022 and tumbled 38.72% in 2024, its largest moves.
• Year by year, Cost of Revenue stood at $333.1 million in 2021, then increased by 3.99% to $346.4 million in 2022, then declined by 13.42% to $299.9 million in 2023, then sank by 36.58% to $190.2 million in 2024, then surged by 70.24% to $323.8 million in 2025.
• According to Business Quant data, Cost of Revenue over the past three periods registered $323.8 million, $297.4 million, and $196.4 million for Q4 2025, Q3 2025, and Q2 2025 respectively.