Biohaven (BHVN) Operating Expenses (2021 - 2026)
Biohaven (BHVN) posted Operating Expenses of $130.4 million for Q1 2026, down 8.62% sequentially from $142.7 million in Q4 2025, and down 41.13% YoY from $221.6 million in Q1 2025.
Biohaven (BHVN) Operating Expenses (2021 - 2026) Analysis & Trends
Biohaven has reported Operating Expenses for 6 years, with the latest figure at $130.4 million in Q1 2026.
- Quarterly Operating Expenses fell 41.13% year-over-year to $130.4 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $654.2 million (down 29.15% YoY) and the FY2025 annual result came in at $745.4 million, down 15.79% from the prior year.
- Operating Expenses eased to $130.4 million in Q1 2026 per BHVN's latest filing, from $142.7 million in the prior quarter.
- Over five years, Operating Expenses peaked at $333.8 million in Q2 2024 and troughed at $67.6 million in Q3 2022.
- A 5-year average of $162.6 million and a median of $169.4 million in 2025 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses jumped 319.42% in 2022, then plunged 52.31% in 2023.
- Over 5 years, Operating Expenses stood at $213.4 million in 2022, then slipped by 27.97% to $153.7 million in 2023, then rose by 23.56% to $189.9 million in 2024, then dropped by 24.85% to $142.7 million in 2025, then retreated by 8.62% to $130.4 million in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $130.4 million, $142.7 million, and $169.4 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 | 128.13 Bn | 120.28 Bn | 2.84 Bn | 2.09 Bn |
| 2 | Regeneron Pharmaceuticals | 112.33 Bn | 104.33 Bn | 3.93 Bn | 3.00 Bn |
| 3 | Argenx Se | 53.24 Bn | 48.05 Bn | 1.41 Bn | 2.89 Bn |
| 4 | Revolution Medicines | 43.64 Bn | 43.64 Bn | - | 505.13 Mn |
| 5 | BeOne Medicines | 39.27 Bn | 34.17 Bn | 1.53 Bn | 1.21 Bn |
| 6 | MindWalk Holdings | 35.32 Bn | 35.31 Bn | 1.82 Bn | 4,978.15 |
| 7 | Royalty Pharma | 33.72 Bn | 35.84 Bn | - | 541.02 Mn |
| 8 | Alnylam Pharmaceuticals | 30.58 Bn | 27.27 Bn | 992.69 Mn | 1.06 Bn |
| 9 | Insmed | 27.01 Bn | 25.85 Bn | 358.27 Mn | 427.03 Mn |
| 10 | Biohaven | 2.21 Bn | 1.94 Bn | - | 124.90 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 124.90 Mn |
| Mar 31, 2026 | 130.43 Mn |
| Dec 31, 2025 | 142.73 Mn |
| Sep 30, 2025 | 169.38 Mn |
| Jun 30, 2025 | 211.70 Mn |
| Mar 31, 2025 | 221.56 Mn |
| Dec 31, 2024 | 189.93 Mn |
| Sep 30, 2024 | 178.17 Mn |
| Jun 30, 2024 | 333.77 Mn |
| Mar 31, 2024 | 183.24 Mn |
| Dec 31, 2023 | 153.71 Mn |
| Sep 30, 2023 | 110.55 Mn |
| Jun 30, 2023 | 94.01 Mn |
| Mar 31, 2023 | 77.78 Mn |
| Dec 31, 2022 | 213.41 Mn |
| Sep 30, 2022 | 67.64 Mn |
| Jun 30, 2022 | 197.11 Mn |
| Mar 31, 2022 | 89.77 Mn |
| Dec 31, 2021 | 50.88 Mn |
| Sep 30, 2021 | 55.49 Mn |