Yatsen Holding (YSG) Cost of Revenue (2019 - 2025)

Yatsen Holding's Cost of Revenue history runs 7 years deep, the most recent figure standing at $127.8 million for Q4 2025.

• In Q4 2025, Cost of Revenue rose 35.09% year-over-year to $127.8 million; the TTM figure through Dec 2025 stood at $400.8 million (up 27.37% YoY), while the FY2025 annual figure was $407.9 million, up 283.54% from the prior year.
• Cost of Revenue was $127.8 million for Q4 2025 at Yatsen Holding, up from $95.8 million in the prior quarter.
• In the past five years, Cost of Revenue ranged from a high of $169.4 million in Q4 2021 to a low of $66.8 million in Q1 2023.
• Historically, Cost of Revenue has averaged $99.7 million across 5 years, with a median of $94.0 million in 2022.
• The sharpest annual moves came in 2021 and 2022: Cost of Revenue jumped 99.32% in 2021, then slumped 54.2% in 2022.
• A 5-year view of Cost of Revenue shows it stood at $169.4 million in 2021, then tumbled by 54.2% to $77.6 million in 2022, then jumped by 30.21% to $101.0 million in 2023, then dropped by 6.37% to $94.6 million in 2024, then surged by 35.09% to $127.8 million in 2025.
• The last three Cost of Revenue figures came in at $127.8 million (Q4 2025), $95.8 million (Q3 2025), and $100.8 million (Q2 2025), per Business Quant data.