NaaS Technology Inc. (NAAS) Revenue History
Annual and quarterly revenue from 2015 to present
NAAS Revenue Over Time (2015–2024)
NAAS Revenue Growth History
7 of 9 years with positive growth- FY2015 revenue growth
- N/A
- FY2016 revenue growth
- +34.3%
- FY2017 revenue growth
- +36.3%
- FY2018 revenue growth
- +31.2%
- FY2019 revenue growth
- +20.3%
- FY2020 revenue growth
- -99.6%
- FY2021 revenue growth
- +442.8%
- FY2022 revenue growth
- +177.4%
- FY2023 revenue growth
- +244.9%
- FY2024 revenue growth
- -37.2%
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2024 | $45.2M | -29.7% |
| Q3 2024 | $44.4M | -55.1% |
| Q2 2024 | $91.7M | +88.6% |
| Q1 2024 | $96.2M | +166.1% |
| Q4 2023 | $64.4M | +118.5% |
| Q3 2023 | $98.9M | — |
| Q2 2023 | $48.6M | — |
| Q1 2023 | $36.2M | — |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2024)
NAAS's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
NAAS Revenue Analysis (2015–2024)
Current Revenue & Growth
As of June 23, 2026, NaaS Technology Inc. (NAAS) generated trailing twelve-month (TTM) revenue of $277.6 million, reflecting significant decline in growth of -29.7% year-over-year. The most recent quarter (Q4 2024) recorded $45.2 million in revenue, up 1.8% sequentially.
Historical Growth Trajectory
NAAS's 5-year compound annual growth rate (CAGR) stands at -33.4%, indicating revenue contraction over this period. The 3-year CAGR of +81.8% exceeds the 5-year average, indicating an acceleration in the most recent period. NaaS Technology Inc.'s highest annual revenue of $1.53 billion was recorded in 2019.
Revenue by Segment
NAAS's revenue is primarily driven by Energy Solutions (100%). With over half of revenue concentrated in Energy Solutions, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Consumer Cyclical sector peers — including BLNK (-4.4% YoY), EVGO (+51.0% YoY), and CHPT (+1.9% YoY) — NAAS has underperformed the peer group in revenue growth. Compare NAAS vs BLNK →
NAAS Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NAASCurrent | $278M | -29.7% | -33.4% | -401.6% | |
 BLNK | $103M | -4.4% | +75.4% | -72.4% | |
 EVGO | $384M | +51.0% | +96.7% | -28.8% | |
 CHPT | $411M | +1.9% | +22.9% | -51.1% | |
 AMPY | $263M | -21.2% | +5.4% | -1.9% | |
 TPVG | $97M | - | - | 77.9% |
NAAS Historical Revenue Data (2015–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $201.0M | -37.2% | $88.5M | 44.1% | $-807,028,000 | -401.6% |
| 2023 | $320.1M | +244.9% | $88.8M | 27.7% | $-1,066,365,000 | -333.2% |
| 2022 | $92.8M | +177.4% | $6.2M | 6.6% | $-2,460,484,000 | -2651.0% |
| 2021 | $33.5M | +442.8% | $3.9M | 11.6% | $-254,047,000 | -759.4% |
| 2020 | $6.2M | -99.6% | $-384,000 | -6.2% | $-76,123,000 | -1235.2% |
| 2019 | $1.53B | +20.3% | $834.8M | 54.6% | $-15,275,000 | -1.0% |
| 2018 | $1.27B | +31.2% | $695.4M | 54.7% | $207.6M | 16.3% |
| 2017 | $969.3M | +36.3% | $517.1M | 53.3% | $-628,000 | -0.1% |
| 2016 | $711.0M | +34.3% | $347.4M | 48.9% | $70.8M | 10.0% |
| 2015 | $529.5M | - | $182.8M | 34.5% | $-49,493,000 | -9.3% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
11+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
NAAS — Frequently Asked Questions
Quick answers to the most common questions about buying NAAS stock.
Is NAAS's revenue growth accelerating or slowing?
NAAS revenue is declining -29.7% year-over-year. TTM revenue fell to $278M, contrasting with the 5-year CAGR of -33.4%. The reversal reflects either macro headwinds or company-specific challenges.
What is NAAS's revenue history from 2015 to 2026?
NaaS Technology Inc. (NAAS) revenue history spans 2015 to 2026. TTM revenue as of 2026 is $278M, growing at -29.7% YoY. The 5-year CAGR is -33.4%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is NAAS's long-term revenue growth rate (CAGR)?
NaaS Technology Inc.'s 5-year revenue CAGR of -33.4% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -29.7% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for NAAS.
Why does NAAS's quarterly revenue fluctuate?
NAAS quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. NaaS Technology Inc.'s revenue data from 2015 to 2026 shows full historical quarterly detail on this page.
How is NAAS's revenue distributed by segment?
NAAS reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does NAAS's revenue compare to industry peers?
NaaS Technology Inc. (NAAS) with TTM revenue of $278M and -29.7% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.