Fermi (FRMI) Operating Expenses (2025 - 2026)
Fermi's (FRMI) quarterly Operating Expenses came in at $166.2 million in Q1 2026, up 213033.33% year-on-year from N/an in Q1 2025, and up 23.77% quarter-over-quarter from $134.3 million in Q4 2025.
Fermi (FRMI) Operating Expenses (2025 - 2026) Analysis & Trends
Fermi has disclosed Operating Expenses across 2 years of filings, most recently posting $166.2 million for Q1 2026.
- Operating Expenses for Q1 2026 came in at $166.2 million, up 213033.33% year-over-year; the trailing twelve-month figure through Mar 2026 was $338.4 million (changed N/A YoY), and the FY2025 annual result was $177.8 million, changed N/A from the prior year.
- Operating Expenses came in at $166.2 million for Q1 2026 at Fermi, up from $134.3 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.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Equinix | 104.53 Bn | 101.50 Bn | 2.20 Bn | 1.87 Bn |
| 2 | American Tower | 86.20 Bn | 92.70 Bn | 2.70 Bn | 1.50 Bn |
| 3 | Digital Realty Trust | 63.76 Bn | 62.92 Bn | - | 1.37 Bn |
| 4 | Crown Castle | 38.57 Bn | 38.52 Bn | 984.00 Mn | 545.00 Mn |
| 5 | Iron Mountain | 37.41 Bn | 37.43 Bn | 1.05 Bn | 1.54 Bn |
| 6 | Sba Communications | 20.70 Bn | 20.79 Bn | 532.10 Mn | 128.53 Mn |
| 7 | Weyerhaeuser | 17.74 Bn | 17.44 Bn | 318.00 Mn | 120.00 Mn |
| 8 | Lamar Advertising | 15.68 Bn | 15.63 Bn | 403.56 Mn | 399.87 Mn |
| 9 | Gaming & Leisure Properties | 13.22 Bn | 13.62 Bn | - | 86.64 Mn |
| 10 | Fermi | 4.71 Bn | 4.50 Bn | - | 166.24 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 166.24 Mn |
| Dec 31, 2025 | 134.32 Mn |
| Sep 30, 2025 | 37.78 Mn |
| Mar 31, 2025 | 78,000.00 |