Zillow (Z) Cost of Revenue (2014 - 2026)

Zillow (Z) has 13 years of Cost of Revenue data on file, last reported at $189.0 million in Q1 2026.

• Quarterly Cost of Revenue fell 4.55% year-over-year to $189.0 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $774.0 million (up 28.57% YoY) and the FY2025 annual result came in at $843.0 million, up 59.96% from the prior year.
• Cost of Revenue fell to $189.0 million in Q1 2026 per Z's latest filing, from $205.0 million in the prior quarter.
• Across five years, Cost of Revenue topped out at $214.0 million in Q3 2025 and bottomed at -$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.
• The widest annual swing landed in 2023, when Cost of Revenue plunged 144.44%; it then surged 286.11% in 2024.
• Tracing Z's Cost of Revenue over 5 years: stood at $162.0 million in 2022, then plunged by 144.44% to -$72.0 million in 2023, then surged by 286.11% to $134.0 million in 2024, then surged by 52.99% to $205.0 million in 2025, then declined by 7.8% to $189.0 million in 2026.
• Per Business Quant, the three latest Z Cost of Revenue figures stand at $189.0 million (Q1 2026), $205.0 million (Q4 2025), and $214.0 million (Q3 2025).

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