Borealis Foods (BRLSW) Cost of Revenue (2023 - 2025)

Borealis Foods' Cost of Revenue history runs 3 years deep, the most recent figure standing at $5.6 million for Q3 2025.

• In Q3 2025, Cost of Revenue fell 12.54% year-over-year to $5.6 million; the TTM figure through Sep 2025 stood at $21.5 million (down 13.72% YoY), while the FY2024 annual figure was $23.2 million, down 15.34% from the prior year.
• Cost of Revenue was $5.6 million for Q3 2025 at Borealis Foods, down from $6.2 million in the prior quarter.
• In the past five years, Cost of Revenue ranged from a high of $8.7 million in Q1 2023 to a low of $4.2 million in Q4 2024.
• Historically, Cost of Revenue has averaged $6.3 million across 3 years, with a median of $6.2 million in 2025.
• The sharpest annual moves came in 2024 and 2025: Cost of Revenue slumped 34.51% in 2024, then rose 26.44% in 2025.
• A 3-year view of Cost of Revenue shows it stood at $5.9 million in 2023, then retreated by 29.09% to $4.2 million in 2024, then surged by 34.04% to $5.6 million in 2025.
• The last three Cost of Revenue figures came in at $5.6 million (Q3 2025), $6.2 million (Q2 2025), and $5.5 million (Q1 2025), per Business Quant data.