4D Molecular Therapeutics (FDMT) Operating Expenses (2020 - 2026)

4D Molecular Therapeutics' (FDMT) quarterly Operating Expenses came in at $76.7 million in Q1 2026, up 42.94% year-on-year from $53.6 million in Q1 2025, and up 8.94% on a QoQ basis from $70.4 million in Q4 2025.

4D Molecular Therapeutics (FDMT) Operating Expenses (2020 - 2026) Analysis & Trends

4D Molecular Therapeutics (FDMT) has 7 years of Operating Expenses data on file, last reported at $76.7 million in Q1 2026.

  • On a quarterly basis, Operating Expenses rose 42.94% year-over-year to $76.7 million in Q1 2026; TTM through Mar 2026 was $267.8 million, a 31.69% increase from a year earlier, with the FY2025 full-year figure at $244.8 million, up 30.27% from the prior year.
  • Operating Expenses for Q1 2026 stood at $76.7 million, up from $70.4 million in the prior quarter.
  • Over the last five years, Operating Expenses for FDMT reached as high as $76.7 million in Q1 2026 and fell as low as $27.0 million in Q3 2022.
  • Historically, Operating Expenses has averaged $44.5 million across 5 years, with a median of $38.2 million in 2024.
  • Across the five-year window, Operating Expenses grew 10.12% in 2023 and soared 53.19% in 2024, its largest moves.
  • Year by year, Operating Expenses stood at $30.0 million in 2022, then advanced by 22.24% to $36.6 million in 2023, then surged by 53.19% to $56.1 million in 2024, then grew by 25.41% to $70.4 million in 2025, then rose by 8.94% to $76.7 million in 2026.
  • Per Business Quant data, the three most recent Operating Expenses figures were $76.7 million in Q1 2026, $70.4 million in Q4 2025, and $61.3 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Oculis Holding AG 67,072.09 Bn 67,072.09 Bn - -28.01 Mn
2 Nanobiotix 1,894.61 Bn 1,894.55 Bn - -
3 Akari Therapeutics 1,014.18 Bn 1,014.18 Bn - 15.76 Mn
4 BeOne Medicines 471.64 Bn 466.85 Bn 1.35 Bn 1.10 Bn
5 Vertex Pharmaceuticals 121.72 Bn 114.47 Bn 2.59 Bn 1.85 Bn
6 Regeneron Pharmaceuticals 68.28 Bn 59.52 Bn 3.31 Bn 2.96 Bn
7 Belite Bio 61.40 Bn 61.40 Bn - 32.68 Mn
8 Argenx Se 56.94 Bn 56.94 Bn 1.18 Bn -919.00 Mn
9 Revolution Medicines 37.37 Bn 37.37 Bn - 445.22 Mn
10 4D Molecular Therapeutics 691.54 Mn 300.64 Mn - 76.67 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 76.67 Mn
Dec 31, 2025 70.38 Mn
Sep 30, 2025 61.28 Mn
Jun 30, 2025 59.47 Mn
Mar 31, 2025 53.64 Mn
Dec 31, 2024 56.12 Mn
Sep 30, 2024 51.14 Mn
Jun 30, 2024 42.46 Mn
Mar 31, 2024 38.16 Mn
Dec 31, 2023 36.63 Mn
Sep 30, 2023 34.18 Mn
Jun 30, 2023 32.38 Mn
Mar 31, 2023 30.40 Mn
Dec 31, 2022 29.97 Mn
Sep 30, 2022 27.00 Mn
Jun 30, 2022 28.59 Mn
Mar 31, 2022 27.61 Mn
Dec 31, 2021 24.86 Mn
Sep 30, 2021 24.03 Mn
Jun 30, 2021 22.18 Mn