Cardiol Therapeutics (CRDL) Operating Expenses (2020 - 2026)
Cardiol Therapeutics' (CRDL) quarterly Operating Expenses came in at $7.1 million in Q1 2026, up 20.49% YoY from $5.9 million in Q1 2025, and up 22.91% on a QoQ basis from $5.8 million in Q4 2025.
Cardiol Therapeutics (CRDL) Operating Expenses (2020 - 2026) Analysis & Trends
Cardiol Therapeutics (CRDL) has 7 years of Operating Expenses data on file, last reported at $7.1 million in Q1 2026.
- Quarterly Operating Expenses rose 20.49% year-over-year to $7.1 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $25.8 million (down 11.28% YoY) and the FY2025 annual result came in at $24.6 million, down 14.65% from the prior year.
- Operating Expenses improved to $7.1 million in Q1 2026, from $5.8 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $10.4 million in Q3 2024 to a low of $4.7 million in Q2 2023.
- A 5-year average of $6.8 million and a median of $6.2 million in 2024 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2023 — Operating Expenses tumbled 43.66% — and 2024, when it surged 81.51%.
- Tracing CRDL's Operating Expenses over 5 years: stood at $6.7 million in 2022, then slipped by 11.98% to $5.9 million in 2023, then increased by 21.25% to $7.2 million in 2024, then slipped by 19.47% to $5.8 million in 2025, then increased by 22.91% to $7.1 million in 2026.
- The last three Operating Expenses figures came in at $7.1 million (Q1 2026), $5.8 million (Q4 2025), and $7.4 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Haleon | 43.94 Bn | 42.97 Bn | - | - |
| 2 | Teva Pharmaceutical Industries | 43.08 Bn | 39.43 Bn | 2.15 Bn | 1.29 Bn |
| 3 | Zoetis | 31.54 Bn | 29.87 Bn | 1.05 Bn | 215.00 Mn |
| 4 | Takeda Pharmaceutical | 28.60 Bn | 22.80 Bn | 5.10 Bn | -2.85 Bn |
| 5 | United Therapeutics | 22.12 Bn | 19.46 Bn | 683.80 Mn | 452.50 Mn |
| 6 | Viatris | 18.75 Bn | 17.86 Bn | 1.46 Bn | 1.45 Bn |
| 7 | Neurocrine Biosciences | 15.50 Bn | 15.11 Bn | 935.80 Mn | 807.50 Mn |
| 8 | Elanco Animal Health | 11.69 Bn | 11.16 Bn | 798.00 Mn | 550.00 Mn |
| 9 | Dr Reddys Laboratories | 10.13 Bn | 9.96 Bn | - | - |
| 10 | Cardiol Therapeutics | 213.21 Mn | 194.35 Mn | - | 5.74 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 7.08 Mn |
| Dec 31, 2025 | 5.76 Mn |
| Sep 30, 2025 | 7.40 Mn |
| Jun 30, 2025 | 5.54 Mn |
| Mar 31, 2025 | 5.87 Mn |
| Dec 31, 2024 | 7.15 Mn |
| Sep 30, 2024 | 10.37 Mn |
| Jun 30, 2024 | 5.66 Mn |
| Mar 31, 2024 | 6.24 Mn |
| Dec 31, 2023 | 5.90 Mn |
| Sep 30, 2023 | 5.71 Mn |
| Jun 30, 2023 | 4.70 Mn |
| Mar 31, 2023 | 5.76 Mn |
| Dec 31, 2022 | 6.70 Mn |
| Sep 30, 2022 | 10.14 Mn |
| Jun 30, 2022 | 7.24 Mn |
| Mar 31, 2022 | 7.73 Mn |
| Dec 31, 2021 | 10.39 Mn |
| Sep 30, 2021 | 8.07 Mn |
| Jun 30, 2021 | 6.48 Mn |