Biohaven (BHVN) Operating Expenses (2021 - 2026)
Biohaven's Operating Expenses was $124.9 million in Q2 2026, down 41.0% from $211.7 million a year earlier and down 4.2% from the prior quarter.
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Analysis
Biohaven (BHVN) Operating Expenses (2021 - 2026) Analysis & Trends
On a trailing twelve-month basis, Biohaven's Operating Expenses was $567.44 million through Jun 30, 2026, down 29.2% year-over-year; for FY2025, it came in at $745.38 million, down 15.8% from FY2024.
- Operating Expenses shows a five-year compound annual growth rate of 45.4% (FY2020 to FY2025).
- In earlier years, Operating Expenses was $885.11 million in FY2024 (+103.0%), $436.05 million in FY2023 (-23.2%), $567.93 million in FY2022 (+159.4%) and $218.9 million in FY2021 (+91.2%).
- The Q2 2026 figure marks the lowest quarterly Operating Expenses since Q3 2023.
- Compared with a year earlier, Operating Expenses has declined for five straight quarters, with an average decline of 5.4% over the last eight quarters.
- The best year-over-year quarter for Operating Expenses over five years was Q4 2022 (growth of 319.4%); the worst was Q2 2023 (a decline of 52.3%).
- Per Business Quant data, BHVN's Operating Expenses in the three quarters before Q2 2026 was $130.43 million (Q1 2026), $142.73 million (Q4 2025) and $169.38 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 638.12 Bn | 556.64 Bn | 17.26 Bn | 10.12 Bn |
| 2 | AbbVie | 462.60 Bn | 435.75 Bn | 12.70 Bn | 10.56 Bn |
| 3 | Merck | 358.70 Bn | 313.13 Bn | 12.21 Bn | 12.80 Bn |
| 4 | Novartis Ag | 272.16 Bn | 228.03 Bn | 11.24 Bn | -6.09 Bn |
| 5 | Astrazeneca | 250.36 Bn | 223.92 Bn | 12.86 Bn | -9.70 Bn |
| 6 | Amgen | 227.87 Bn | 183.27 Bn | 7.24 Bn | 6.54 Bn |
| 7 | Gilead Sciences | 184.97 Bn | 159.08 Bn | 6.22 Bn | 18.20 Bn |
| 8 | Pfizer | 162.61 Bn | 109.56 Bn | 10.94 Bn | 6.68 Bn |
| 9 | Vertex Pharmaceuticals | 132.45 Bn | 104.46 Bn | 2.84 Bn | 2.09 Bn |
| 10 | Biohaven | 2.01 Bn | 819.54 Mn | - | 124.90 Mn |
Historic Data
Download Data
Historic 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 |
API Access
Biohaven 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=BHVN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "BHVN", "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=BHVN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();