Invivyd (IVVD) Operating Expenses (2021 - 2025)

Invivyd (IVVD) posted Operating Expenses of $29.8 million for Q4 2025, up 23.23% on a QoQ basis from $24.2 million in Q3 2025, and down 9.95% year-over-year from $33.0 million in Q4 2024.

Invivyd (IVVD) Operating Expenses (2021 - 2025) Analysis & Trends

Invivyd's Operating Expenses history runs 5 years deep, the most recent figure standing at $29.8 million for Q4 2025.

  • Quarterly Operating Expenses fell 9.95% year-over-year to $29.8 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $109.0 million (down 46.12% YoY) and the FY2025 annual result came in at $109.0 million, down 46.12% from the prior year.
  • Operating Expenses was $29.8 million for Q4 2025 at Invivyd, up from $24.2 million in the prior quarter.
  • Across five years, Operating Expenses topped out at $100.7 million in Q1 2022 and bottomed at $24.2 million in Q3 2025.
  • A 5-year average of $49.9 million and a median of $46.7 million in 2022 frame the typical range for Operating Expenses.
  • Annual changes were most pronounced in 2022 — Operating Expenses soared 160.25% — and 2025, when it sank 66.27%.
  • Invivyd's Operating Expenses stood at $83.1 million in 2021, then slumped by 41.98% to $48.2 million in 2022, then jumped by 59.2% to $76.8 million in 2023, then slumped by 56.94% to $33.0 million in 2024, then fell by 9.95% to $29.8 million in 2025.
  • Business Quant data shows IVVD's Operating Expenses at $29.8 million in Q4 2025, $24.2 million in Q3 2025, and $26.8 million in Q2 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Oculis Holding AG 66,741.39 Bn 66,741.11 Bn - -28.01 Mn
2 Nanobiotix 1,935.05 Bn 1,934.98 Bn - -
3 Akari Therapeutics 1,045.06 Bn 1,045.06 Bn - 15.76 Mn
4 BeOne Medicines 468.98 Bn 464.19 Bn 1.35 Bn 1.10 Bn
5 Vertex Pharmaceuticals 123.24 Bn 115.99 Bn 2.59 Bn 1.85 Bn
6 Regeneron Pharmaceuticals 70.45 Bn 61.70 Bn 3.31 Bn 2.96 Bn
7 Belite Bio 63.04 Bn 63.04 Bn - 32.68 Mn
8 Argenx Se 55.79 Bn 50.60 Bn 1.41 Bn 2.89 Bn
9 Alnylam Pharmaceuticals 37.79 Bn 34.78 Bn 959.66 Mn 898.54 Mn
10 Invivyd 103.53 Mn -123.15 Mn 16.07 Mn 29.76 Mn

Historic Data

Download Data
DateValue
Dec 31, 2025 29.76 Mn
Sep 30, 2025 24.15 Mn
Jun 30, 2025 26.85 Mn
Mar 31, 2025 28.23 Mn
Dec 31, 2024 33.05 Mn
Sep 30, 2024 71.61 Mn
Jun 30, 2024 51.51 Mn
Mar 31, 2024 46.09 Mn
Dec 31, 2023 76.75 Mn
Sep 30, 2023 43.06 Mn
Jun 30, 2023 53.88 Mn
Mar 31, 2023 39.07 Mn
Dec 31, 2022 48.21 Mn
Sep 30, 2022 47.33 Mn
Jun 30, 2022 51.75 Mn
Mar 31, 2022 100.74 Mn
Dec 31, 2021 83.09 Mn
Sep 30, 2021 60.42 Mn
Jun 30, 2021 44.69 Mn
Mar 31, 2021 38.71 Mn