Netcapital (NCPL) Cost of Revenue (2013 - 2026)
Netcapital (NCPL) reported Cost of Revenue of $1,823 for fiscal Q3 2026 (quarter ended Jan 31, 2026), down 74.5% from $7,155 a year earlier and down 2.9% from the prior quarter.
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Analysis
Netcapital (NCPL) Cost of Revenue (2013 - 2026) Analysis & Trends
Over the twelve months ended Jan 31, 2026, Netcapital's Cost of Revenue came in at $14,297, down 70.3% year-over-year; for FY2025 (ended Apr 30, 2025), it came in at $40,344, down 62.7% from FY2024.
- Cost of Revenue has a five-year compound annual growth rate of 29.4% (FY2020 to FY2025).
- By fiscal year, Cost of Revenue came in at $108,060 in FY2024 (+27.1%), $85,038 in FY2023 (-22.8%), $110,115 in FY2022 (-85.5%) and $759,158 in FY2021.
- The fiscal Q3 2026 figure ranks as the lowest quarterly Cost of Revenue since fiscal Q4 2019.
- Year over year, Cost of Revenue has now declined in each of the last eight quarters, with an average decline of 56.2% over the last eight quarters.
- The high point for year-over-year Cost of Revenue in five years was fiscal Q4 2021 (growth of 895.3%); the low point was fiscal Q2 2022 (a decline of 93.7%).
- Per Business Quant data, the three fiscal quarters before Q3 2026 came in at $1,877 (Q2 2026), $7,409 (Q1 2026) and $3,188 (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Robinhood Markets | 101.35 Bn | 82.45 Bn | - | - |
| 2 | Bank of New York Mellon | 98.65 Bn | 38.02 Bn | - | - |
| 3 | Cme | 94.54 Bn | 94.54 Bn | - | - |
| 4 | Intercontinental Exchange | 84.23 Bn | 78.04 Bn | - | - |
| 5 | Nasdaq | 50.77 Bn | 48.20 Bn | 1.50 Bn | 1.03 Bn |
| 6 | State Street | 48.31 Bn | 48.31 Bn | - | - |
| 7 | Interactive Brokers | 39.79 Bn | 33.24 Bn | - | - |
| 8 | Northern Trust | 31.37 Bn | 31.37 Bn | - | - |
| 9 | Cboe Global Markets | 28.34 Bn | 20.00 Bn | 731.60 Mn | 711.20 Mn |
| 10 | Netcapital | 7.86 Mn | 7.86 Mn | 92,524.00 | 1,823.00 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jan 31, 2026 | 1,823.00 |
| Oct 31, 2025 | 1,877.00 |
| Jul 31, 2025 | 7,409.00 |
| Apr 30, 2025 | 3,188.00 |
| Jan 31, 2025 | 7,155.00 |
| Oct 31, 2024 | 19,781.00 |
| Jul 31, 2024 | 10,220.00 |
| Apr 30, 2024 | 10,998.00 |
| Jan 31, 2024 | 58,875.00 |
| Oct 31, 2023 | 20,134.00 |
| Jul 31, 2023 | 18,053.00 |
| Apr 30, 2023 | 23,435.00 |
| Jan 31, 2023 | 4,305.00 |
| Oct 31, 2022 | 36,235.00 |
| Jul 31, 2022 | 21,063.00 |
| Apr 30, 2022 | 24,686.00 |
| Jan 31, 2022 | 39,349.00 |
| Oct 31, 2021 | 17,775.00 |
| Jul 31, 2021 | 28,305.00 |
| Apr 30, 2021 | 28,815.00 |
API Access
Netcapital Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=NCPL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "NCPL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=NCPL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();