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| Date | Value |
|---|---|
| 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 |