Waterdrop (WDH) Cost of Revenue (2020 - 2025)

Waterdrop has reported Cost of Revenue for 6 years, with the latest figure at $72.5 million in Q4 2025.

• For the quarter ending Q4 2025, Cost of Revenue rose 190.59% year-over-year to $72.5 million; the trailing twelve-month figure through Dec 2025 stood at $158.1 million (up 63.83% YoY), and the FY2025 full-year result was $160.3 million, up 68.4% from the prior year.
• Cost of Revenue for Q4 2025 stood at $72.5 million, up from $34.1 million in the prior quarter.
• The five-year high for Cost of Revenue was $192.8 million in Q2 2021, with the low at $19.4 million in Q3 2022.
• Average Cost of Revenue over 5 years is $46.6 million, with a median of $25.5 million recorded in 2023.
• Year-over-year, Cost of Revenue soared 306.39% in 2021 and sank 88.82% in 2022.
• Tracing WDH's Cost of Revenue over 5 years: stood at $37.8 million in 2021, then slumped by 47.18% to $20.0 million in 2022, then increased by 23.25% to $24.6 million in 2023, then gained by 1.29% to $24.9 million in 2024, then jumped by 190.59% to $72.5 million in 2025.
• The last three Cost of Revenue figures came in at $72.5 million (Q4 2025), $34.1 million (Q3 2025), and $27.7 million (Q2 2025), per Business Quant data.

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