Arrowhead Pharmaceuticals (ARWR) Operating Expenses (2010 - 2026)
Arrowhead Pharmaceuticals' Operating Expenses was $245.35 million in fiscal Q3 2026 (quarter ended Jun 30, 2026), up 26.9% from $193.32 million a year earlier and up 14.1% from the prior quarter.
Arrowhead Pharmaceuticals (ARWR) Operating Expenses (2010 - 2026) Analysis & Trends
On a trailing twelve-month basis, Arrowhead Pharmaceuticals' Operating Expenses was $895.93 million through Jun 30, 2026, up 31.6% year-over-year; for FY2025 (ended Sep 30, 2025), it came in at $731.1 million, up 20.9% from FY2024.
- Operating Expenses has now increased for eight consecutive fiscal years, with a five-year compound annual growth rate of 32.2% (FY2020 to FY2025).
- In earlier fiscal years, Operating Expenses was $604.63 million in FY2024 (+35.6%), $445.74 million in FY2023 (+5.7%), $421.74 million in FY2022 (+46.8%) and $287.32 million in FY2021 (+58.6%).
- The fiscal Q3 2026 figure marks the highest quarterly Operating Expenses in data going back to fiscal Q3 2010.
- Compared with a year earlier, Operating Expenses has increased for 13 straight quarters, with growth averaging 26.5% over the last eight quarters.
- The best year-over-year quarter for Operating Expenses over five years was fiscal Q1 2022 (growth of 100.1%); the worst was fiscal Q2 2023 (a decline of 11.0%).
- Per Business Quant data, ARWR's Operating Expenses in the three fiscal quarters before Q3 2026 was $215 million (Q2 2026), $223.22 million (Q1 2026) and $212.37 million (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 655.56 Bn | 574.09 Bn | 17.26 Bn | 10.12 Bn |
| 2 | AbbVie | 470.94 Bn | 444.10 Bn | 12.70 Bn | 10.56 Bn |
| 3 | Merck | 367.14 Bn | 321.57 Bn | 12.21 Bn | 12.80 Bn |
| 4 | Novartis Ag | 280.33 Bn | 236.20 Bn | 11.24 Bn | -6.09 Bn |
| 5 | Astrazeneca | 257.78 Bn | 231.34 Bn | 12.86 Bn | -9.70 Bn |
| 6 | Amgen | 226.04 Bn | 181.44 Bn | 7.24 Bn | 6.54 Bn |
| 7 | Gilead Sciences | 188.89 Bn | 163.01 Bn | 6.22 Bn | 18.20 Bn |
| 8 | Pfizer | 163.75 Bn | 110.70 Bn | 10.94 Bn | 6.68 Bn |
| 9 | Vertex Pharmaceuticals | 133.68 Bn | 105.69 Bn | 2.84 Bn | 2.09 Bn |
| 10 | Arrowhead Pharmaceuticals | 9.24 Bn | 4.02 Bn | - | 245.35 Mn |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 245.35 Mn |
| Mar 31, 2026 | 215.00 Mn |
| Dec 31, 2025 | 223.22 Mn |
| Sep 30, 2025 | 212.37 Mn |
| Jun 30, 2025 | 193.32 Mn |
| Mar 31, 2025 | 161.51 Mn |
| Dec 31, 2024 | 163.91 Mn |
| Sep 30, 2024 | 162.20 Mn |
| Jun 30, 2024 | 176.14 Mn |
| Mar 31, 2024 | 126.19 Mn |
| Dec 31, 2023 | 140.10 Mn |
| Sep 30, 2023 | 124.43 Mn |
| Jun 30, 2023 | 118.53 Mn |
| Mar 31, 2023 | 98.10 Mn |
| Dec 31, 2022 | 104.68 Mn |
| Sep 30, 2022 | 115.41 Mn |
| Jun 30, 2022 | 105.32 Mn |
| Mar 31, 2022 | 110.25 Mn |
| Dec 31, 2021 | 90.76 Mn |
| Sep 30, 2021 | 103.17 Mn |
Arrowhead Pharmaceuticals Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=ARWR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "ARWR", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=ARWR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();