Equillium (EQ) Operating Expenses (2018 - 2026)
Equillium's Operating Expenses was $5.16 million in Q2 2026, down 17.2% from $6.23 million a year earlier and down 8.1% from the prior quarter.
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Analysis
Equillium (EQ) Operating Expenses (2018 - 2026) Analysis & Trends
On a trailing twelve-month basis, Equillium's Operating Expenses was $19.3 million through Jun 30, 2026, down 47.9% year-over-year; for FY2025, it came in at $23.63 million, down 52.1% from FY2024.
- Operating Expenses has now declined for three consecutive years, with a five-year compound annual growth rate of -4.4% (FY2020 to FY2025).
- In earlier years, Operating Expenses was $49.36 million in FY2024 (-2.5%), $50.61 million in FY2023 (-35.0%), $77.84 million in FY2022 (+106.0%) and $37.79 million in FY2021 (+27.9%).
- Quarterly Operating Expenses has moved between $3.96 million (Q4 2025) and $37.33 million (Q1 2022) over five years.
- Compared with a year earlier, Operating Expenses has declined for seven straight quarters, with an average decline of 36.0% over the last eight quarters.
- The best year-over-year quarter for Operating Expenses over five years was Q1 2022 (growth of 329.3%); the worst was Q1 2023 (a decline of 65.2%).
- Per Business Quant data, EQ's Operating Expenses in the three quarters before Q2 2026 was $5.61 million (Q1 2026), $3.96 million (Q4 2025) and $4.58 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 655.56 Bn | 574.09 Bn | 17.26 Bn | 10.12 Bn |
| 2 | AbbVie | 470.94 Bn | 444.10 Bn | 12.70 Bn | 10.56 Bn |
| 3 | Merck | 367.14 Bn | 321.57 Bn | 12.21 Bn | 12.80 Bn |
| 4 | Novartis Ag | 280.33 Bn | 236.20 Bn | 11.24 Bn | -6.09 Bn |
| 5 | Astrazeneca | 257.78 Bn | 231.34 Bn | 12.86 Bn | -9.70 Bn |
| 6 | Amgen | 226.04 Bn | 181.44 Bn | 7.24 Bn | 6.54 Bn |
| 7 | Gilead Sciences | 188.89 Bn | 163.01 Bn | 6.22 Bn | 18.20 Bn |
| 8 | Pfizer | 163.75 Bn | 110.70 Bn | 10.94 Bn | 6.68 Bn |
| 9 | Vertex Pharmaceuticals | 133.68 Bn | 105.69 Bn | 2.84 Bn | 2.09 Bn |
| 10 | Equillium | 187.83 Mn | 187.83 Mn | - | 5.16 Mn |
Historic Data
Download Data
Historic 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 |
API Access
Equillium 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=EQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "EQ", "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=EQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();