Growth Metrics

NI Holdings (NODK) Cost of Revenue (2017 - 2026)

NI Holdings has reported Cost of Revenue over the past 9 years, most recently at $39.5 million for Q4 2025.

  • Quarterly Cost of Revenue rose 20.07% to $39.5 million in Q4 2025 from the year-ago period, while the trailing twelve-month figure was $200.8 million through Dec 2025, down 3.22% year-over-year, with the annual reading at $200.8 million for FY2025, 3.22% down from the prior year.
  • Cost of Revenue was $39.5 million for Q4 2025 at NI Holdings, down from $56.2 million in the prior quarter.
  • Over five years, Cost of Revenue peaked at $108.6 million in Q2 2022 and troughed at $14.1 million in Q4 2022.
  • The 5-year median for Cost of Revenue is $54.7 million (2023), against an average of $53.5 million.
  • Year-over-year, Cost of Revenue crashed 72.24% in 2022 and then surged 127.92% in 2023.
  • A 5-year view of Cost of Revenue shows it stood at $50.8 million in 2021, then crashed by 72.24% to $14.1 million in 2022, then surged by 127.92% to $32.2 million in 2023, then increased by 2.2% to $32.9 million in 2024, then increased by 20.07% to $39.5 million in 2025.
  • Per Business Quant, the three most recent readings for NODK's Cost of Revenue are $39.5 million (Q4 2025), $56.2 million (Q3 2025), and $66.6 million (Q2 2025).