Noble (NE-WT) Cost of Revenue (2021 - 2026)

Noble has reported Cost of Revenue for 6 years, with the latest figure at $30.1 million in Q1 2026.

• For the quarter ending Q1 2026, Cost of Revenue fell 93.48% year-over-year to $30.1 million; the trailing twelve-month figure through Mar 2026 stood at $560.2 million (down 80.35% YoY), and the FY2025 full-year result was $1.9 billion, up 13.54% from the prior year.
• Cost of Revenue for Q1 2026 stood at $30.1 million, down from $471.1 million in the prior quarter.
• The five-year high for Cost of Revenue was $1.6 billion in Q4 2024, with the low at $13.3 million in Q3 2022.
• Historically, Cost of Revenue has averaged $298.5 million across 5 years, with a median of $166.1 million in 2022.
• Annual changes were most pronounced in 2023 — Cost of Revenue tumbled 97.19% — and 2024, when it jumped 6597.44%.
• Noble's Cost of Revenue stood at $860.0 million in 2022, then plunged by 97.19% to $24.2 million in 2023, then jumped by 6597.44% to $1.6 billion in 2024, then tumbled by 70.88% to $471.1 million in 2025, then sank by 93.61% to $30.1 million in 2026.
• The last three Cost of Revenue figures came in at $30.1 million (Q1 2026), $471.1 million (Q4 2025), and $30.5 million (Q3 2025), per Business Quant data.