Fermi (FRMI) Operating Expenses (2025 - 2026)
Fermi's (FRMI) quarterly Operating Expenses came in at $26.8 million in Q2 2026, up 377.07% year-over-year from $5.6 million in Q2 2025, and down 83.9% quarter-over-quarter from $166.2 million in Q1 2026.
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Analysis
Fermi (FRMI) Operating Expenses (2025 - 2026) Analysis & Trends
Fermi has disclosed Operating Expenses across 2 years of filings, most recently posting $26.8 million for Q2 2026.
- In Q2 2026, Operating Expenses rose 377.07% year-over-year to $26.8 million; the TTM figure through Jun 2026 stood at $365.1 million (changed N/A YoY), while the FY2025 annual figure was $177.8 million, changed N/A from the prior year.
- Operating Expenses came in at $26.8 million for Q2 2026 at Fermi, down from $166.2 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $166.2 million in Q1 2026 to a low of $78000.0 in Q1 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Digital Realty Trust | 67.37 Bn | 67.07 Bn | - | 1.46 Bn |
| 2 | Fermi | 3.18 Bn | 3.12 Bn | - | 26.76 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 26.76 Mn |
| Mar 31, 2026 | 166.24 Mn |
| Dec 31, 2025 | 134.32 Mn |
| Sep 30, 2025 | 37.78 Mn |
| Jun 30, 2025 | 5.61 Mn |
| Mar 31, 2025 | 78,000.00 |
API Access
Fermi 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=FRMI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "FRMI", "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=FRMI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();