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

Innovate's Cost of Revenue history runs 16 years deep, the most recent figure standing at $323.8 million for 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 for Q4 2025 stood at $323.8 million, 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.
• The 5-year median for Cost of Revenue is $298.6 million (2023), against an average of $279.4 million.
• The sharpest annual moves came in 2022 and 2024: Cost of Revenue soared 156.9% in 2022, then sank 38.72% in 2024.
• Innovate's Cost of Revenue stood at $333.1 million in 2021, then gained by 3.99% to $346.4 million in 2022, then retreated by 13.42% to $299.9 million in 2023, then tumbled by 36.58% to $190.2 million in 2024, then jumped by 70.24% to $323.8 million in 2025.
• Business Quant data shows VATE's Cost of Revenue at $323.8 million in Q4 2025, $297.4 million in Q3 2025, and $196.4 million in Q2 2025.