Keros Therapeutics (KROS) Operating Expenses (2019 - 2026)
Keros Therapeutics' (KROS) quarterly Operating Expenses came in at $29.7 million in Q4 2025, down 47.32% YoY from $56.3 million in Q4 2024, and little changed on a QoQ basis from $29.6 million in Q3 2025.
Keros Therapeutics (KROS) Operating Expenses (2019 - 2026) Analysis & Trends
Keros Therapeutics (KROS) has 7 years of Operating Expenses data on file, last reported at $29.7 million in Q4 2025.
- Quarterly Operating Expenses fell 47.32% year-over-year to $29.7 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $176.5 million (down 17.67% YoY) and the FY2025 annual result came in at $176.5 million, down 17.67% from the prior year.
- Operating Expenses held at $29.7 million in Q4 2025, from $29.6 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $59.2 million in Q1 2025 to a low of $15.6 million in Q2 2021.
- A 5-year average of $37.6 million and a median of $35.4 million in 2022 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2022 — Operating Expenses jumped 96.46% — and 2025, when it slumped 49.79%.
- Tracing KROS's Operating Expenses over 5 years: stood at $24.9 million in 2021, then advanced by 28.53% to $32.0 million in 2022, then soared by 45.8% to $46.6 million in 2023, then increased by 20.81% to $56.3 million in 2024, then plunged by 47.32% to $29.7 million in 2025.
- The last three Operating Expenses figures came in at $29.7 million (Q4 2025), $29.6 million (Q3 2025), and $58.0 million (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 137.11 Bn | 129.26 Bn | 2.84 Bn | 2.09 Bn |
| 2 | Regeneron Pharmaceuticals | 84.98 Bn | 76.99 Bn | 3.93 Bn | 3.00 Bn |
| 3 | Argenx Se | 64.52 Bn | 59.33 Bn | 1.37 Bn | 2.89 Bn |
| 4 | Moderna | 53.23 Bn | 48.09 Bn | 52.00 Mn | 960.00 Mn |
| 5 | BeOne Medicines | 41.23 Bn | 36.14 Bn | 1.53 Bn | 1.21 Bn |
| 6 | Alnylam Pharmaceuticals | 30.65 Bn | 27.34 Bn | 992.69 Mn | 1.06 Bn |
| 7 | Insmed | 27.15 Bn | 25.99 Bn | 358.27 Mn | 427.03 Mn |
| 8 | Royalty Pharma | 26.98 Bn | 26.14 Bn | - | 541.02 Mn |
| 9 | BioNTech SE | 26.78 Bn | 8.39 Bn | 668.28 Mn | -784.57 Mn |
| 10 | Keros Therapeutics | 217.21 Mn | -40.40 Mn | - | 30.94 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 30.94 Mn |
| Dec 31, 2025 | 29.66 Mn |
| Sep 30, 2025 | 29.65 Mn |
| Jun 30, 2025 | 57.99 Mn |
| Mar 31, 2025 | 59.21 Mn |
| Dec 31, 2024 | 56.30 Mn |
| Sep 30, 2024 | 59.05 Mn |
| Jun 30, 2024 | 50.48 Mn |
| Mar 31, 2024 | 48.57 Mn |
| Dec 31, 2023 | 46.60 Mn |
| Sep 30, 2023 | 43.29 Mn |
| Jun 30, 2023 | 41.34 Mn |
| Mar 31, 2023 | 38.87 Mn |
| Dec 31, 2022 | 31.96 Mn |
| Sep 30, 2022 | 27.98 Mn |
| Jun 30, 2022 | 30.73 Mn |
| Mar 31, 2022 | 24.13 Mn |
| Dec 31, 2021 | 24.87 Mn |
| Sep 30, 2021 | 20.20 Mn |
| Jun 30, 2021 | 15.64 Mn |