The Cigna Group stock research
FY2025 Q2
The Cigna Group (CI) Gross Margin — Quarter Ended Jun 30, 2025
Revenue increased compared to both the prior quarter and the same quarter last year, while gross profit decreased from the prior quarter but was lower than the year-ago quarter. Cost of revenue rose relative to both periods, resulting in a gross margin that weakened from both the preceding quarter and the same quarter one year earlier.
Gross margin takeaway
Quarter ended Jun 30, 2025 · FY2025 Q2
Revenue increased compared to both the prior quarter and the same quarter last year, while gross profit decreased from the prior quarter but was lower than the year-ago quarter. Cost of revenue rose relative to both periods, resulting in a gross margin that weakened from both the preceding quarter and the same quarter one year earlier.
- The gross margin declined from the prior quarter and the year-ago quarter, driven by a proportionally larger increase in cost of revenue relative to revenue. The relationship between revenue growth and cost growth is the primary observable factor in the margin change.
- Compared to the immediately preceding quarter, revenue was higher but gross profit was lower, and cost of revenue was higher, leading to a weakened gross margin. Versus the same quarter one year earlier, revenue was higher, gross profit was lower, and cost of revenue was higher, resulting in a weakened gross margin.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
20.7%
Gross profit
$13.9B
Revenue
$67.2B
Cost of revenue
$53.3B
Quarter-over-quarter change
-5.4 pts
Year-over-year change
-5.8 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Sep 30, 2024 | $63.7B | $16.1B | $47.6B | 25.3% |
| Dec 31, 2024 | $65.6B | $16.6B | $49.0B | 25.3% |
| Mar 31, 2025 | $65.5B | $17.1B | $48.4B | 26.1% |
| Jun 30, 2025 | $67.2B | $13.9B | $53.3B | 20.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2025
-5.4 pts
Year-over-year change
Jun 30, 2024
-5.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin declined from the prior quarter and the year-ago quarter, driven by a proportionally larger increase in cost of revenue relative to revenue. The relationship between revenue growth and cost growth is the primary observable factor in the margin change.
Compared to the immediately preceding quarter, revenue was higher but gross profit was lower, and cost of revenue was higher, leading to a weakened gross margin. Versus the same quarter one year earlier, revenue was higher, gross profit was lower, and cost of revenue was higher, resulting in a weakened gross margin.
Monitor the trajectory of cost of revenue relative to revenue, as its growth outpaced revenue in both comparisons.