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Target Hospitality (TH) Cost of Revenue (2018 - 2025)

Target Hospitality (TH) has disclosed Cost of Revenue for 8 consecutive years, with $21.1 million as the latest value for Q4 2025.

  • On a quarterly basis, Cost of Revenue fell 81.87% to $21.1 million in Q4 2025 year-over-year; TTM through Dec 2025 was $69.6 million, a 68.05% decrease, with the full-year FY2025 number at $69.6 million, down 47.33% from a year prior.
  • Cost of Revenue was $21.1 million for Q4 2025 at Target Hospitality, up from $3.0 million in the prior quarter.
  • In the past five years, Cost of Revenue ranged from a high of $156.0 million in Q4 2022 to a low of -$12.5 million in Q2 2021.
  • A 5-year average of $44.6 million and a median of $33.6 million in 2024 define the central range for Cost of Revenue.
  • Peak YoY movement for Cost of Revenue: plummeted 139.8% in 2021, then soared 1253.77% in 2022.
  • Target Hospitality's Cost of Revenue stood at $109.2 million in 2021, then soared by 42.92% to $156.0 million in 2022, then decreased by 17.97% to $128.0 million in 2023, then decreased by 9.3% to $116.1 million in 2024, then plummeted by 81.87% to $21.1 million in 2025.
  • Per Business Quant, the three most recent readings for TH's Cost of Revenue are $21.1 million (Q4 2025), $3.0 million (Q3 2025), and $45.6 million (Q2 2025).