Northann Corp. (NCL) Revenue History
Annual and quarterly revenue from 2020 to present
NCL Revenue Over Time (2020–2025)
NCL Revenue Growth History
2 of 5 years with positive growth- FY2020 revenue growth
- N/A
- FY2021 revenue growth
- +163.7%
- FY2022 revenue growth
- -39.3%
- FY2023 revenue growth
- -33.3%
- FY2024 revenue growth
- +9.9%
- FY2025 revenue growth
- -11.4%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $5.0M | +44.3% |
| Q4 2025 | $4.9M | +14.0% |
| Q3 2025 | $3.5M | +38.6% |
| Q2 2025 | $1.7M | -56.1% |
| Q1 2025 | $3.4M | -25.2% |
| Q4 2024 | $4.3M | -5.0% |
| Q3 2024 | $2.6M | +18.4% |
| Q2 2024 | $3.9M | -14.4% |
Multi-year avg. share of annual revenue by fiscal quarter
NCL Revenue Analysis (2020–2025)
Current Revenue & Growth
As of June 28, 2026, Northann Corp. (NCL) generated trailing twelve-month (TTM) revenue of $15.1 million, reflecting explosive growth of +44.3% year-over-year. The most recent quarter (Q1 2026) recorded $5.0 million in revenue, up 1.0% sequentially.
Historical Growth Trajectory
NCL's 5-year compound annual growth rate (CAGR) stands at +0.8%, indicating moderate growth over time. The 3-year CAGR of -13.4% is below the 5-year average, signalling a growth deceleration in recent years. Northann Corp.'s highest annual revenue of $34.5 million was recorded in 2021.
Peer Comparison
Compared to Consumer Cyclical sector peers — including MHK (+2.9% YoY), LX, and FND (+3.5% YoY) — NCL has outperformed the peer group in revenue growth. Compare NCL vs MHK →
NCL Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NCLCurrent | $15M | +44.3% | +0.8% | -84.2% | |
 MHK | $10.8B | +2.9% | +2.5% | 4.7% | |
 LX | $12.8B | - | - | 17.7% | |
 FND | $4.7B | +3.5% | +14.1% | 5.9% | |
 TILE | $1.4B | +7.3% | +4.7% | 11.8% | |
 AMWD | $1.7B | -13.6% | +0.7% | 8.2% |
NCL Historical Revenue Data (2020–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $13.6M | -11.4% | $3.6M | 26.3% | $-11,455,338 | -84.2% |
| 2024 | $15.3M | +9.9% | $4.0M | 25.9% | $-1,673,940 | -10.9% |
| 2023 | $14.0M | -33.3% | $1.2M | 8.7% | $-4,763,705 | -34.1% |
| 2022 | $21.0M | -39.3% | $5.8M | 27.5% | $2.1M | 9.9% |
| 2021 | $34.5M | +163.7% | $5.8M | 16.9% | $1.1M | 3.3% |
| 2020 | $13.1M | - | $4.5M | 34.5% | $549K | 4.2% |
Intrinsic Valuation
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Historical Returns
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Peer Comparison
Compare growth, multiples, and margins vs sector.
NCL — Frequently Asked Questions
Quick answers to the most common questions about buying NCL stock.
Is NCL's revenue growth accelerating or slowing?
NCL revenue growth is accelerating. TTM revenue reached $15M, up +44.3% year-over-year — ahead of the 5-year CAGR of +0.8%. This indicates the business is expanding faster than its historical baseline.
What is NCL's revenue history from 2020 to 2026?
Northann Corp. (NCL) revenue history spans 2020 to 2026. TTM revenue as of 2026 is $15M, growing at +44.3% YoY. The 5-year CAGR is +0.8%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is NCL's long-term revenue growth rate (CAGR)?
Northann Corp.'s 5-year revenue CAGR of +0.8% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +44.3% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for NCL.
Why does NCL's quarterly revenue fluctuate?
NCL 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. Northann Corp.'s revenue data from 2020 to 2026 shows full historical quarterly detail on this page.
How is NCL's revenue distributed by segment?
NCL 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 NCL's revenue compare to industry peers?
Northann Corp. (NCL) with TTM revenue of $15M and +44.3% 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.