Cabaletta Bio (CABA) Operating Expenses (2018 - 2025)
Cabaletta Bio's (CABA) quarterly Operating Expenses came in at $42.6 million in Q4 2025, up 26.12% year-on-year from $33.8 million in Q4 2024, and down 8.54% quarter-over-quarter from $46.6 million in Q3 2025.
Cabaletta Bio (CABA) Operating Expenses (2018 - 2025) Analysis & Trends
Cabaletta Bio's Operating Expenses history runs 8 years deep, the most recent figure standing at $42.6 million for Q4 2025.
- On a quarterly basis, Operating Expenses rose 26.12% year-over-year to $42.6 million in Q4 2025; TTM through Dec 2025 was $172.2 million, a 37.64% increase from a year earlier, with the FY2025 full-year figure at $172.2 million, up 37.64% from the prior year.
- Operating Expenses fell to $42.6 million in Q4 2025 per CABA's latest filing, from $46.6 million in the prior quarter.
- Across five years, Operating Expenses topped out at $46.6 million in Q3 2025 and bottomed at $9.7 million in Q1 2021.
- The 5-year median for Operating Expenses is $17.8 million (2023), against an average of $23.6 million.
- Across the five-year window, Operating Expenses increased 1.86% in 2022 and surged 90.55% in 2024, its largest moves.
- Year by year, Operating Expenses stood at $13.9 million in 2021, then rose by 17.34% to $16.3 million in 2022, then soared by 41.98% to $23.1 million in 2023, then surged by 45.96% to $33.8 million in 2024, then advanced by 26.12% to $42.6 million in 2025.
- Per Business Quant, the three latest CABA Operating Expenses figures stand at $42.6 million (Q4 2025), $46.6 million (Q3 2025), and $45.9 million (Q2 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Oculis Holding AG | 68,785.72 Bn | 68,785.72 Bn | - | -28.01 Mn |
| 2 | Nanobiotix | 1,895.57 Bn | 1,895.51 Bn | - | - |
| 3 | BeOne Medicines | 471.35 Bn | 466.56 Bn | 1.35 Bn | 1.10 Bn |
| 4 | NuCana | 279.75 Bn | 279.75 Bn | - | -3.78 Mn |
| 5 | Vertex Pharmaceuticals | 120.24 Bn | 113.00 Bn | 2.59 Bn | 1.85 Bn |
| 6 | Regeneron Pharmaceuticals | 67.80 Bn | 59.04 Bn | 3.31 Bn | 2.96 Bn |
| 7 | Belite Bio | 62.51 Bn | 62.51 Bn | - | 32.68 Mn |
| 8 | Argenx Se | 57.38 Bn | 57.38 Bn | 1.41 Bn | 2.89 Bn |
| 9 | Revolution Medicines | 37.78 Bn | 37.78 Bn | - | 445.22 Mn |
| 10 | Cabaletta Bio | 182.04 Mn | 182.04 Mn | - | 42.61 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 42.61 Mn |
| Sep 30, 2025 | 46.59 Mn |
| Jun 30, 2025 | 45.91 Mn |
| Mar 31, 2025 | 37.14 Mn |
| Dec 31, 2024 | 33.79 Mn |
| Sep 30, 2024 | 33.05 Mn |
| Jun 30, 2024 | 30.28 Mn |
| Mar 31, 2024 | 28.03 Mn |
| Dec 31, 2023 | 23.15 Mn |
| Sep 30, 2023 | 18.67 Mn |
| Jun 30, 2023 | 15.89 Mn |
| Mar 31, 2023 | 16.96 Mn |
| Dec 31, 2022 | 16.30 Mn |
| Sep 30, 2022 | 11.78 Mn |
| Jun 30, 2022 | 13.06 Mn |
| Mar 31, 2022 | 13.00 Mn |
| Dec 31, 2021 | 13.89 Mn |
| Sep 30, 2021 | 11.56 Mn |
| Jun 30, 2021 | 11.15 Mn |
| Mar 31, 2021 | 9.71 Mn |