Growth Metrics

Sable Offshore (SOC) Cost of Revenue (2023 - 2026)

Sable Offshore posted quarterly Cost of Revenue of $68.0 million for Q1 2026, up 97.52% year-on-year from $34.4 million in Q1 2025, and up 23.8% on a QoQ basis from $55.0 million in Q4 2025.

Sable Offshore (SOC) has 4 years of Cost of Revenue data on file, last reported at $68.0 million in Q1 2026.

  • For the quarter ending Q1 2026, Cost of Revenue rose 97.52% year-over-year to $68.0 million; the trailing twelve-month figure through Mar 2026 stood at $252.8 million (up 119.81% YoY), and the FY2025 full-year result was $219.2 million, up 149.44% from the prior year.
  • Cost of Revenue for Q1 2026 stood at $68.0 million, up from $55.0 million in the prior quarter.
  • Across five years, Cost of Revenue topped out at $79.4 million in Q3 2025 and bottomed at $7.3 million in Q1 2024.
  • The 4-year median for Cost of Revenue is $26.3 million (2024), against an average of $33.5 million.
  • The widest annual swing landed in 2024, when Cost of Revenue plunged 50.54%; it then surged 370.66% in 2025.
  • A 4-year view of Cost of Revenue shows it stood at $17.5 million in 2023, then soared by 63.39% to $28.6 million in 2024, then surged by 91.9% to $55.0 million in 2025, then rose by 23.8% to $68.0 million in 2026.
  • The last three Cost of Revenue figures came in at $68.0 million (Q1 2026), $55.0 million (Q4 2025), and $79.4 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Cost of Rev (Qtr)
1 Precision Drilling 157.47 Bn 157.41 Bn 120.82 Mn 262.78 Mn
2 Noble 8.34 Bn 7.67 Bn 755.58 Mn 30.11 Mn
3 Transocean 7.55 Bn 6.94 Bn 475.00 Mn 606.00 Mn
4 Patterson Uti Energy 4.63 Bn 4.30 Bn 535.85 Mn 581.49 Mn
5 Helmerich & Payne 3.96 Bn 3.86 Bn 907.56 Mn 24.80 Mn
6 Seadrill 3.20 Bn 2.87 Bn 177.00 Mn 181.00 Mn
7 Sable Offshore 2.10 Bn 2.05 Bn -66.76 Mn 68.03 Mn
8 Nabors Industries 1.49 Bn 1.37 Bn 290.08 Mn 493.47 Mn
9 Borr Drilling 1.48 Bn 1.10 Bn - -

Historic Data

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DateValue
Mar 31, 2026 68.03 Mn
Mar 31, 2026 68.03 Mn
Dec 31, 2025 54.95 Mn
Dec 31, 2025 54.95 Mn
Sep 30, 2025 79.41 Mn
Sep 30, 2025 79.41 Mn
Jun 30, 2025 50.40 Mn
Jun 30, 2025 50.40 Mn
Mar 31, 2025 34.44 Mn
Mar 31, 2025 34.44 Mn
Dec 31, 2024 28.64 Mn
Dec 31, 2024 28.64 Mn
Sep 30, 2024 25.63 Mn
Sep 30, 2024 25.63 Mn
Jun 30, 2024 26.29 Mn
Jun 30, 2024 26.29 Mn
Mar 31, 2024 7.32 Mn
Mar 31, 2024 7.32 Mn
Dec 31, 2023 17.53 Mn
Dec 31, 2023 17.53 Mn
Sep 30, 2023 14.26 Mn
Sep 30, 2023 14.26 Mn
Jun 30, 2023 14.11 Mn
Jun 30, 2023 14.11 Mn
Mar 31, 2023 14.80 Mn
Mar 31, 2023 14.80 Mn