Cash Flow Statement
Growth Metrics

Innovate (VATE) Cost of Revenue (2016 - 2025)

Innovate has reported Cost of Revenue over the past 16 years, most recently at $323.8 million for Q4 2025.

  • For Q4 2025, Cost of Revenue rose 70.24% year-over-year to $323.8 million; the TTM value through Dec 2025 reached $1.0 billion, up 16.48%, while the annual FY2025 figure was $1.0 billion, 16.48% up from the prior year.
  • Cost of Revenue for Q4 2025 was $323.8 million at Innovate, up from $297.4 million in the prior quarter.
  • Over five years, Cost of Revenue peaked at $364.6 million in Q3 2022 and troughed at $141.3 million in Q1 2021.
  • A 5-year average of $279.4 million and a median of $298.6 million in 2023 define the central range for Cost of Revenue.
  • Biggest five-year swings in Cost of Revenue: skyrocketed 156.9% in 2022 and later tumbled 38.72% in 2024.
  • Year by year, Cost of Revenue stood at $333.1 million in 2021, then grew by 3.99% to $346.4 million in 2022, then dropped by 13.42% to $299.9 million in 2023, then crashed by 36.58% to $190.2 million in 2024, then skyrocketed by 70.24% to $323.8 million in 2025.
  • Business Quant data shows Cost of Revenue for VATE at $323.8 million in Q4 2025, $297.4 million in Q3 2025, and $196.4 million in Q2 2025.