Zillow Group, Inc. (Z) Cost of Revenue (2014 - 2026)

Zillow has disclosed Cost of Revenue across 13 years of filings, most recently posting $189.0 million for Q1 2026.

• In Q1 2026, Cost of Revenue fell 4.55% year-over-year to $189.0 million; the TTM figure through Mar 2026 stood at $774.0 million (up 28.57% YoY), while the FY2025 annual figure was $843.0 million, up 59.96% from the prior year.
• Cost of Revenue retreated to $189.0 million in Q1 2026, from $205.0 million in the prior quarter.
• Over the last five years, Cost of Revenue for Z reached as high as $214.0 million in Q3 2025 and fell as low as -$72.0 million in Q4 2023.
• The 5-year median for Cost of Revenue is $134.0 million (2024), against an average of $131.7 million.
• Annual changes were most pronounced in 2023 — Cost of Revenue plunged 144.44% — and 2024, when it jumped 286.11%.
• A 5-year view of Cost of Revenue shows it stood at $162.0 million in 2022, then plunged by 144.44% to -$72.0 million in 2023, then jumped by 286.11% to $134.0 million in 2024, then jumped by 52.99% to $205.0 million in 2025, then retreated by 7.8% to $189.0 million in 2026.
• According to Business Quant data, Cost of Revenue over the past three periods registered $189.0 million, $205.0 million, and $214.0 million for Q1 2026, Q4 2025, and Q3 2025 respectively.