Aardvark Therapeutics (AARD) Operating Expenses (2024 - 2026)
Aardvark Therapeutics (AARD) posted Operating Expenses of $22.5 million for Q1 2026, up 20.1% sequentially from $18.7 million in Q4 2025, and up 114.56% YoY from $10.5 million in Q1 2025.
Aardvark Therapeutics (AARD) Operating Expenses (2024 - 2026) Analysis & Trends
Aardvark Therapeutics has reported Operating Expenses for 3 years, with the latest figure at $22.5 million in Q1 2026.
- Quarterly Operating Expenses rose 114.56% year-over-year to $22.5 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $74.7 million (up 140.38% YoY) and the FY2025 annual result came in at $62.7 million, up 175.29% from the prior year.
- Operating Expenses improved to $22.5 million in Q1 2026 per AARD's latest filing, from $18.7 million in the prior quarter.
- Over five years, Operating Expenses peaked at $22.5 million in Q1 2026 and troughed at $2.2 million in Q1 2024.
- A 3-year average of $12.0 million and a median of $10.5 million in 2025 frame the typical range for Operating Expenses.
- The widest YoY moves for Operating Expenses: up 382.27% in 2025, down 97.93% in 2025.
- Over 3 years, Operating Expenses stood at $9.4 million in 2024, then surged by 97.93% to $18.7 million in 2025, then increased by 20.1% to $22.5 million in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $22.5 million, $18.7 million, and $17.7 million for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 137.11 Bn | 129.26 Bn | 2.84 Bn | 2.09 Bn |
| 2 | Regeneron Pharmaceuticals | 84.98 Bn | 76.99 Bn | 3.93 Bn | 3.00 Bn |
| 3 | Argenx Se | 64.52 Bn | 59.33 Bn | 1.37 Bn | 2.89 Bn |
| 4 | Moderna | 53.23 Bn | 48.09 Bn | 52.00 Mn | 960.00 Mn |
| 5 | BeOne Medicines | 41.23 Bn | 36.14 Bn | 1.53 Bn | 1.21 Bn |
| 6 | Alnylam Pharmaceuticals | 30.65 Bn | 27.34 Bn | 992.69 Mn | 1.06 Bn |
| 7 | Insmed | 27.15 Bn | 25.99 Bn | 358.27 Mn | 427.03 Mn |
| 8 | Royalty Pharma | 26.98 Bn | 26.14 Bn | - | 541.02 Mn |
| 9 | BioNTech SE | 26.78 Bn | 8.39 Bn | 668.28 Mn | -784.57 Mn |
| 10 | Aardvark Therapeutics | 127.36 Mn | 53.44 Mn | - | 15.08 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 15.08 Mn |
| Mar 31, 2026 | 22.46 Mn |
| Dec 31, 2025 | 18.70 Mn |
| Sep 30, 2025 | 17.70 Mn |
| Jun 30, 2025 | 15.85 Mn |
| Mar 31, 2025 | 10.47 Mn |
| Dec 31, 2024 | 9.45 Mn |
| Sep 30, 2024 | 5.09 Mn |
| Jun 30, 2024 | 6.07 Mn |
| Mar 31, 2024 | 2.17 Mn |