OPAL Fuels (OPAL) Cost of Revenue (2021 - 2026)

OPAL Fuels (OPAL) posted Cost of Revenue of $35.4 million for Q1 2026, up 150.99% sequentially from -$69.4 million in Q4 2025, and up 191.2% YoY from $12.2 million in Q1 2025.

OPAL Fuels (OPAL) Cost of Revenue (2021 - 2026) Analysis & Trends

OPAL Fuels (OPAL) has 6 years of Cost of Revenue data on file, last reported at $35.4 million in Q1 2026.

  • Quarterly Cost of Revenue rose 191.2% year-over-year to $35.4 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was -$15.3 million (down 123.82% YoY) and the FY2025 annual result came in at $49.3 million, down 61.74% from the prior year.
  • Cost of Revenue climbed to $35.4 million in Q1 2026 per OPAL's latest filing, from -$69.4 million in the prior quarter.
  • The five-year high for Cost of Revenue was $71.8 million in Q4 2022, with the low at -$69.4 million in Q4 2025.
  • Average Cost of Revenue over 5 years is $13.1 million, with a median of $10.0 million recorded in 2024.
  • Year-over-year, Cost of Revenue jumped 1729.64% in 2024 and tumbled 304.59% in 2025.
  • OPAL Fuels' Cost of Revenue stood at $71.8 million in 2022, then plunged by 88.44% to $8.3 million in 2023, then jumped by 308.75% to $33.9 million in 2024, then plunged by 304.59% to -$69.4 million in 2025, then surged by 150.99% to $35.4 million in 2026.
  • Business Quant data shows OPAL's Cost of Revenue at $35.4 million in Q1 2026, -$69.4 million in Q4 2025, and $11.8 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Cost of Rev (Qtr)
1 Atmos Energy 28.80 Bn 28.68 Bn - -
2 Nisource 22.46 Bn 24.65 Bn 1.83 Bn 489.20 Mn
3 Ugi 7.39 Bn 6.84 Bn 1.50 Bn 1.19 Bn
4 New Jersey Resources 5.67 Bn 5.53 Bn 826.91 Mn 112.50 Mn
5 Black Hills 5.61 Bn 5.58 Bn - -
6 ONE Gas 4.80 Bn 4.77 Bn 438.14 Mn 393.58 Mn
7 Mdu Resources 4.26 Bn 4.20 Bn - -
8 Chesapeake Utilities 2.94 Bn 2.94 Bn 102.40 Mn 146.90 Mn
9 Centuri Holdings 2.87 Bn 2.82 Bn 35.76 Mn 687.42 Mn
10 OPAL Fuels 62.26 Mn -61.70 Mn 37.99 Mn 35.39 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 35.39 Mn
Mar 31, 2026 35.39 Mn
Dec 31, 2025 -69.40 Mn
Dec 31, 2025 -69.40 Mn
Sep 30, 2025 11.77 Mn
Sep 30, 2025 11.77 Mn
Jun 30, 2025 6.90 Mn
Jun 30, 2025 6.90 Mn
Mar 31, 2025 12.15 Mn
Mar 31, 2025 12.15 Mn
Dec 31, 2024 33.92 Mn
Dec 31, 2024 33.92 Mn
Sep 30, 2024 9.99 Mn
Sep 30, 2024 9.99 Mn
Jun 30, 2024 8.32 Mn
Jun 30, 2024 8.32 Mn
Mar 31, 2024 9.26 Mn
Mar 31, 2024 9.26 Mn
Dec 31, 2023 8.30 Mn
Dec 31, 2023 8.30 Mn