B2Gold (BTG) Cost of Revenue (2012 - 2026)

Over the twelve months ended Jun 30, 2026, B2Gold's Cost of Revenue came in at $1.46 billion, up 14.6% year-over-year; for the year ended Dec 31, 2025, it came in at $1.53 billion, up 28.0% from the prior year.

• Cost of Revenue has increased for five consecutive years, with a five-year compound annual growth rate of 30.3% (years ended Dec 2020 to Dec 2025).
• By year, Cost of Revenue came in at $1.2 billion in the year ended Dec 31, 2024 (+3.6%), $1.15 billion in the year ended Dec 31, 2023 (+2.3%), $1.13 billion in the year ended Dec 31, 2022 (+13.5%) and $993.71 million in the year ended Dec 31, 2021 (+143.6%).
• The figure for the quarter ended Jun 30, 2026 ranks as the lowest quarterly Cost of Revenue since the quarter ended Mar 30, 2021.
• Year over year, Cost of Revenue gained in seven of the last eight quarters, with growth averaging 13.4%.
• The high point for year-over-year Cost of Revenue in five years was the quarter ended Sep 30, 2021 (growth of 162.8%); the low point was the quarter ended Jun 30, 2026 (a decline of 95.3%).
• Per Business Quant data, the three quarters before the quarter ended Jun 30, 2026 came in at $548.89 million (quarter ended Mar 31, 2026), $502.73 million (quarter ended Dec 31, 2025) and $392.6 million (quarter ended Sep 30, 2025).