Equillium (EQ) Operating Expenses (2018 - 2026)
Equillium (EQ) posted quarterly Operating Expenses of $5.6 million for Q1 2026, down 36.75% year-over-year from $8.9 million in Q1 2025, and up 41.6% quarter-over-quarter from $4.0 million in Q4 2025.
Equillium (EQ) Operating Expenses (2018 - 2026) Analysis & Trends
Equillium (EQ) has reported Operating Expenses for 9 consecutive years, with $5.6 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Expenses fell 36.75% year-over-year to $5.6 million; the TTM figure through Mar 2026 stood at $20.4 million (down 54.47% YoY), while the FY2025 annual figure was $23.6 million, down 52.12% from the prior year.
- Operating Expenses improved to $5.6 million in Q1 2026 per EQ's latest filing, from $4.0 million in the prior quarter.
- Across five years, Operating Expenses topped out at $37.3 million in Q1 2022 and bottomed at $4.0 million in Q4 2025.
- Historically, Operating Expenses has averaged $12.2 million across 5 years, with a median of $12.7 million in 2023.
- Annual changes were most pronounced in 2022 — Operating Expenses surged 329.32% — and 2023, when it plunged 65.21%.
- Equillium's Operating Expenses stood at $13.7 million in 2022, then slipped by 9.52% to $12.4 million in 2023, then fell by 26.76% to $9.1 million in 2024, then tumbled by 56.41% to $4.0 million in 2025, then soared by 41.6% to $5.6 million in 2026.
- Business Quant data shows EQ's Operating Expenses at $5.6 million in Q1 2026, $4.0 million in Q4 2025, and $4.6 million in Q3 2025.
Powered by 
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 | Equillium | 263.86 Mn | 263.86 Mn | - | 5.16 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 5.16 Mn |
| Mar 31, 2026 | 5.61 Mn |
| Dec 31, 2025 | 3.96 Mn |
| Sep 30, 2025 | 4.58 Mn |
| Jun 30, 2025 | 6.23 Mn |
| Mar 31, 2025 | 8.87 Mn |
| Dec 31, 2024 | 9.09 Mn |
| Sep 30, 2024 | 12.84 Mn |
| Jun 30, 2024 | 13.95 Mn |
| Mar 31, 2024 | 13.48 Mn |
| Dec 31, 2023 | 12.41 Mn |
| Sep 30, 2023 | 12.49 Mn |
| Jun 30, 2023 | 12.72 Mn |
| Mar 31, 2023 | 12.99 Mn |
| Dec 31, 2022 | 13.72 Mn |
| Sep 30, 2022 | 13.24 Mn |
| Jun 30, 2022 | 13.55 Mn |
| Mar 31, 2022 | 37.33 Mn |
| Dec 31, 2021 | 10.39 Mn |
| Sep 30, 2021 | 9.86 Mn |