OPAL Fuels (OPAL) Cost of Revenue (2021 - 2026)
OPAL Fuels' Cost of Revenue was $58.93 million in Q2 2026, up 3.3% from $57.04 million a year earlier and up 9.4% from the prior quarter.
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Analysis
OPAL Fuels (OPAL) Cost of Revenue (2021 - 2026) Analysis & Trends
On a trailing twelve-month basis, OPAL Fuels' Cost of Revenue was $239.89 million through Jun 30, 2026, up 9.3% year-over-year; for FY2025, it was $242.79 million, up 21.5% from FY2024.
- Cost of Revenue has now increased for four consecutive years, with a four-year compound annual growth rate of 20.5% (FY2021 to FY2025).
- In earlier years, Cost of Revenue was $199.85 million in FY2024 (+8.7%), $183.9 million in FY2023 (+13.0%), $162.79 million in FY2022 (+41.5%) and $115.07 million in FY2021.
- Quarterly Cost of Revenue has moved between $506,000 (Q1 2023) and $85.29 million (Q4 2021) over five years.
- Compared with a year earlier, Cost of Revenue was higher in six of the last eight quarters, with growth averaging 9.8%.
- The best year-over-year quarter for Cost of Revenue over five years was Q3 2022 (growth of 47.3%); the worst was Q1 2023 (a decline of 98.6%).
- Per Business Quant data, OPAL's Cost of Revenue in the three quarters before Q2 2026 was $53.85 million (Q1 2026), $69.19 million (Q4 2025) and $57.92 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Plug Power | 2.65 Bn | 1.74 Bn | -1.68 Mn | 179.97 Mn |
| 2 | Rex American Resources | 1.44 Bn | 80.02 Mn | 53.30 Mn | 133.60 Mn |
| 3 | Green Plains | 1.07 Bn | 468.18 Mn | 113.03 Mn | 333.19 Mn |
| 4 | Montauk Renewables | 411.11 Mn | 338.89 Mn | - | - |
| 5 | Clean Energy Fuels | 343.76 Mn | -312.04 Mn | 30.14 Mn | 76.22 Mn |
| 6 | Gevo | 323.88 Mn | 40.86 Mn | 19.80 Mn | 19.92 Mn |
| 7 | OPAL Fuels | 304.08 Mn | 36.68 Mn | 24.47 Mn | 58.93 Mn |
| 8 | Aemetis | 123.92 Mn | 107.68 Mn | 13.52 Mn | 49.19 Mn |
| 9 | Verde Clean Fuels | 48.56 Mn | -149.91 Mn | - | - |
| 10 | Blue Biofuels | 32.35 Mn | 32.16 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 58.93 Mn |
| Mar 31, 2026 | 53.85 Mn |
| Dec 31, 2025 | 69.19 Mn |
| Sep 30, 2025 | 57.92 Mn |
| Jun 30, 2025 | 57.04 Mn |
| Mar 31, 2025 | 58.64 Mn |
| Dec 31, 2024 | 52.39 Mn |
| Sep 30, 2024 | 51.37 Mn |
| Jun 30, 2024 | 48.16 Mn |
| Mar 31, 2024 | 47.93 Mn |
| Dec 31, 2023 | 53.60 Mn |
| Sep 30, 2023 | 51.24 Mn |
| Jun 30, 2023 | 43.85 Mn |
| Mar 31, 2023 | 506,000.00 |
| Dec 31, 2022 | 38.03 Mn |
| Sep 30, 2022 | 49.35 Mn |
| Jun 30, 2022 | 39.63 Mn |
| Mar 31, 2022 | 35.79 Mn |
| Dec 31, 2021 | 85.29 Mn |
| Sep 30, 2021 | 33.50 Mn |
API Access
OPAL Fuels 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=OPAL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "OPAL", "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=OPAL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();