GH Research (GHRS) Operating Expenses (2020 - 2026)

GH Research's Operating Expenses history runs 6 years deep, the most recent figure standing at -$71.5 million for Q4 2025.

• In Q4 2025, Operating Expenses fell 7.37% year-over-year to -$71.5 million; the TTM figure through Dec 2025 stood at -$60.7 million (down 20.68% YoY), while the FY2025 annual figure was $60.7 million, up 20.68% from the prior year.
• Operating Expenses for Q4 2025 stood at -$71.5 million, down from $4.6 million in the prior quarter.
• The five-year high for Operating Expenses was $28.1 million in Q4 2023, with the low at -$71.5 million in Q4 2025.
• The 5-year median for Operating Expenses is $3.7 million (2024), against an average of -$1.7 million.
• Peak annual rise in Operating Expenses reached 4058.55% in 2021, while the deepest fall reached 7676.67% in 2021.
• GH Research's Operating Expenses stood at $23.6 million in 2021, then increased by 5.13% to $24.8 million in 2022, then climbed by 13.54% to $28.1 million in 2023, then sank by 336.5% to -$66.6 million in 2024, then dropped by 7.37% to -$71.5 million in 2025.
• Business Quant data shows GHRS's Operating Expenses at -$71.5 million in Q4 2025, $4.6 million in Q3 2025, and $3.2 million in Q2 2025.