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

Zillow (ZG) 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 ZG'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 ZG's Cost of Revenue at $189.0 million in Q1 2026, $178.0 million in Q4 2025, and $185.0 million in Q3 2025.