Zillow (Z) Cost of Revenue (2014 - 2026)
Zillow (Z) posted quarterly Cost of Revenue of $189.0 million for Q1 2026, up 35.97% year-over-year from $139.0 million in Q1 2025, and up 6.18% quarter-over-quarter from $178.0 million in Q4 2025.
Zillow (Z) Cost of Revenue (2014 - 2026) Analysis & Trends
Zillow (Z) has reported Cost of Revenue for 13 consecutive years, with $189.0 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Cost of Revenue rose 35.97% year-over-year to $189.0 million; the TTM figure through Mar 2026 stood at $718.0 million (up 32.23% YoY), while the FY2025 annual figure was $668.0 million, up 26.76% from the prior year.
- Cost of Revenue rose to $189.0 million in Q1 2026 per Z's latest filing, from $178.0 million in the prior quarter.
- Across five years, Cost of Revenue topped out at $189.0 million in Q1 2026 and bottomed at $89.0 million in Q3 2022.
- Historically, Cost of Revenue has averaged $127.8 million across 5 years, with a median of $123.0 million in 2024.
- Annual changes were most pronounced in 2022 — Cost of Revenue plunged 87.44% — and 2026, when it soared 35.97%.
- Zillow's Cost of Revenue stood at $89.0 million in 2022, then advanced by 29.21% to $115.0 million in 2023, then grew by 16.52% to $134.0 million in 2024, then jumped by 32.84% to $178.0 million in 2025, then grew by 6.18% to $189.0 million in 2026.
- Business Quant data shows Z's Cost of Revenue at $189.0 million in Q1 2026, $178.0 million in Q4 2025, and $185.0 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,171.38 Bn | 3,742.34 Bn | 73.85 Bn | 45.94 Bn |
| 2 | Meta Platforms | 1,530.10 Bn | 1,439.84 Bn | 49.47 Bn | 11.33 Bn |
| 3 | Taboola.com | 1,146.02 Bn | 1,145.89 Bn | 139.48 Mn | 337.35 Mn |
| 4 | Baidu | 289.00 Bn | 284.51 Bn | 1.88 Mn | 2.84 Bn |
| 5 | Spotify Technology | 103.21 Bn | 92.97 Bn | 1.75 Bn | 3.56 Bn |
| 6 | Joyy | 77.66 Bn | 76.77 Bn | 205.64 Mn | 376.28 Mn |
| 7 | BILI Social International | 60.58 Bn | 60.58 Bn | 405,933.00 | 131,586.00 |
| 8 | Nebius | 49.70 Bn | 40.07 Bn | 295.20 Mn | 103.80 Mn |
| 9 | 30.28 Bn | 27.49 Bn | 734.60 Mn | 70.31 Mn | |
| 10 | Zillow | 7.79 Bn | 7.11 Bn | 562.00 Mn | 210.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 210.00 Mn |
| Jun 30, 2026 | 210.00 Mn |
| Mar 31, 2026 | 189.00 Mn |
| Mar 31, 2026 | 189.00 Mn |
| Dec 31, 2025 | 178.00 Mn |
| Dec 31, 2025 | 178.00 Mn |
| Sep 30, 2025 | 185.00 Mn |
| Sep 30, 2025 | 185.00 Mn |
| Jun 30, 2025 | 166.00 Mn |
| Jun 30, 2025 | 166.00 Mn |
| Mar 31, 2025 | 139.00 Mn |
| Mar 31, 2025 | 139.00 Mn |
| Dec 31, 2024 | 134.00 Mn |
| Dec 31, 2024 | 134.00 Mn |
| Sep 30, 2024 | 140.00 Mn |
| Sep 30, 2024 | 140.00 Mn |
| Jun 30, 2024 | 130.00 Mn |
| Jun 30, 2024 | 130.00 Mn |
| Mar 31, 2024 | 123.00 Mn |
| Mar 31, 2024 | 123.00 Mn |