B2Gold (BTG) Operating Expenses (2012 - 2026)

B2Gold (BTG) posted quarterly Operating Expenses of -$16.7 million for Q1 2026, down 41.74% year-over-year from -$28.7 million in Q1 2025, and up 31.03% on a QoQ basis from -$24.3 million in Q4 2025.

B2Gold (BTG) Operating Expenses (2012 - 2026) Analysis & Trends

B2Gold (BTG) has reported Operating Expenses for 15 consecutive years, with -$16.7 million the latest figure, recorded in Q1 2026.

  • In Q1 2026, Operating Expenses fell 41.74% year-over-year to -$16.7 million; the TTM figure through Mar 2026 stood at -$72.0 million (down 26.01% YoY), while the FY2025 annual figure was -$67.1 million, down 12.78% from the prior year.
  • Operating Expenses came in at -$16.7 million for Q1 2026 at B2Gold, up from -$24.3 million in the prior quarter.
  • The five-year high for Operating Expenses was -$10.4 million in Q3 2022, with the low at -$26.7 million in Q4 2023.
  • Average Operating Expenses over 5 years is -$16.3 million, with a median of -$15.2 million recorded in 2025.
  • Across the five-year window, Operating Expenses plunged 74.64% in 2023 and surged 37.03% in 2024, its largest moves.
  • Year by year, Operating Expenses stood at -$20.7 million in 2022, then decreased by 28.74% to -$26.7 million in 2023, then climbed by 28.41% to -$19.1 million in 2024, then decreased by 27.02% to -$24.3 million in 2025, then soared by 31.03% to -$16.7 million in 2026.
  • According to Business Quant data, Operating Expenses over the past three periods registered -$16.7 million, -$24.3 million, and -$15.2 million for Q1 2026, Q4 2025, and Q3 2025 respectively.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Barrick Mining 978.09 Bn 980.39 Bn 3.12 Bn 155.00 Mn
2 Trx Gold 189.48 Bn 189.48 Bn 21.05 Mn -7.01 Mn
3 Newmont 101.22 Bn 92.61 Bn 7.29 Bn 2.84 Bn
4 OR Royalties 53.18 Bn 53.08 Bn 88.84 Mn -19.25 Mn
5 Wheaton Precious Metals 50.59 Bn 48.43 Bn 699.37 Mn 89.82 Mn
6 Aura Minerals 50.25 Bn 50.25 Bn 19.58 Mn -1.16 Mn
7 Franco Nevada 40.21 Bn 39.50 Bn 526.30 Mn 9.20 Mn
8 Gold Fields 30.19 Bn 28.41 Bn - -
9 Kinross Gold 28.01 Bn 25.95 Bn 1.44 Bn 83.10 Mn
10 B2Gold 5.12 Bn 5.16 Bn 609.77 Mn -16.73 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 -16.73 Mn
Dec 31, 2025 -24.25 Mn
Sep 30, 2025 -15.25 Mn
Jun 30, 2025 -15.78 Mn
Mar 31, 2025 -11.80 Mn
Dec 31, 2024 -19.09 Mn
Sep 30, 2024 -13.28 Mn
Jun 30, 2024 -12.97 Mn
Mar 31, 2024 -14.14 Mn
Dec 31, 2023 -21.19 Mn
Sep 30, 2023 -18.14 Mn
Jun 30, 2023 -21.00 Mn
Mar 31, 2023 -14.19 Mn
Dec 31, 2022 -20.72 Mn
Sep 30, 2022 -10.38 Mn
Jun 30, 2022 -12.55 Mn
Mar 31, 2022 -10.83 Mn
Dec 31, 2021 -19.16 Mn
Sep 30, 2021 -10.41 Mn
Jun 30, 2021 -10.52 Mn