Vnet (VNET) Cost of Revenue (2010 - 2025)

Vnet has disclosed Cost of Revenue across 16 years of filings, most recently posting $307.0 million for Q4 2025.

• Cost of Revenue for Q4 2025 came in at $307.0 million, up 28.66% year-over-year; the trailing twelve-month figure through Dec 2025 was $1.1 billion (up 21.99% YoY), and the FY2025 annual result was $39.9 million, up 10.49% from the prior year.
• Cost of Revenue came in at $307.0 million for Q4 2025 at Vnet, up from $286.9 million in the prior quarter.
• In the past five years, Cost of Revenue ranged from a high of $307.0 million in Q4 2025 to a low of $5.6 million in Q3 2021.
• The 5-year median for Cost of Revenue is $208.8 million (2023), against an average of $146.3 million.
• Across the five-year window, Cost of Revenue fell 17.45% in 2022 and soared 1945.03% in 2023, its largest moves.
• Vnet's Cost of Revenue stood at $13.4 million in 2021, then decreased by 17.45% to $11.1 million in 2022, then jumped by 1945.03% to $226.4 million in 2023, then climbed by 5.37% to $238.6 million in 2024, then advanced by 28.66% to $307.0 million in 2025.
• The last three Cost of Revenue figures came in at $307.0 million (Q4 2025), $286.9 million (Q3 2025), and $263.3 million (Q2 2025), per Business Quant data.