Alvotech (ALVO) Operating Expenses (2021 - 2026)

Alvotech (ALVO) posted Operating Expenses of -$50.2 million for Q1 2026, down 110.22% on a QoQ basis from $490.9 million in Q4 2025, and up 11.61% year-over-year from -$45.0 million in Q1 2025.

Alvotech (ALVO) Operating Expenses (2021 - 2026) Analysis & Trends

Alvotech's Operating Expenses history runs 6 years deep, the most recent figure standing at -$50.2 million for Q1 2026.

  • Quarterly Operating Expenses rose 11.61% year-over-year to -$50.2 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $281.7 million (up 159.79% YoY) and the FY2025 annual result came in at $275.1 million, up 16.08% from the prior year.
  • Operating Expenses was -$50.2 million for Q1 2026 at Alvotech, down from $490.9 million in the prior quarter.
  • Across five years, Operating Expenses topped out at $490.9 million in Q4 2025 and bottomed at -$367.4 million in Q4 2022.
  • A 5-year average of -$92.9 million and a median of -$81.5 million in 2025 frame the typical range for Operating Expenses.
  • Peak annual rise in Operating Expenses reached 307.12% in 2025, while the deepest fall reached 86773.43% in 2025.
  • Alvotech's Operating Expenses stood at -$367.4 million in 2022, then advanced by 21.77% to -$287.4 million in 2023, then rose by 17.52% to -$237.0 million in 2024, then jumped by 307.12% to $490.9 million in 2025, then slumped by 110.22% to -$50.2 million in 2026.
  • Business Quant data shows ALVO's Operating Expenses at -$50.2 million in Q1 2026, $490.9 million in Q4 2025, and -$77.5 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Haleon 87.22 Bn 85.35 Bn - -
2 Teva Pharmaceutical Industries 39.60 Bn 35.87 Bn 1.97 Bn 1.00 Bn
3 Zoetis 31.46 Bn 29.52 Bn 1.62 Bn 788.00 Mn
4 Takeda Pharmaceutical 26.49 Bn 22.44 Bn 4.39 Bn 12.58 Bn
5 United Therapeutics 23.03 Bn 20.88 Bn 648.10 Mn 455.70 Mn
6 Universe Pharmaceuticals 23.03 Bn -10.56 Bn - -
7 Viatris 20.90 Bn 19.09 Bn 1.16 Bn 1.24 Bn
8 Neurocrine Biosciences 17.50 Bn 16.19 Bn 800.70 Mn 621.10 Mn
9 Elanco Animal Health 12.33 Bn 11.91 Bn 785.00 Mn 494.00 Mn
10 Alvotech 935.87 Mn 935.87 Mn 5.09 Mn -50.18 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 -50.18 Mn
Dec 31, 2025 490.92 Mn
Sep 30, 2025 -77.54 Mn
Jun 30, 2025 -81.46 Mn
Mar 31, 2025 -56.78 Mn
Dec 31, 2024 -237.03 Mn
Sep 30, 2024 -50.45 Mn
Jun 30, 2024 -126.97 Mn
Mar 31, 2024 -65,356.00
Dec 31, 2023 -287.39 Mn
Aug 31, 2023 -141.49 Mn
Jun 30, 2023 -141.42 Mn
Mar 31, 2023 -73,062.00
Dec 31, 2022 -367.36 Mn
Aug 31, 2022 -226.03 Mn
Jun 30, 2022 -154.72 Mn
Mar 31, 2022 -71.31 Mn
Dec 31, 2021 528.05 Mn
Sep 30, 2021 -76.15 Mn