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Madrigal Pharmaceuticals (MDGL) Operating Expenses (2019 - 2025)

Madrigal Pharmaceuticals (MDGL) has disclosed Operating Expenses for 13 consecutive years, with $380.7 million as the latest value for Q4 2025.

  • On a quarterly basis, Operating Expenses rose 18.1% to $380.7 million in Q4 2025 year-over-year; TTM through Dec 2025 was $1.3 billion, a 85.62% increase, with the full-year FY2025 number at $1.3 billion, up 85.62% from a year prior.
  • Operating Expenses was $380.7 million for Q4 2025 at Madrigal Pharmaceuticals, down from $864.2 million in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $864.2 million in Q3 2025 to a low of -$203.0 million in Q2 2025.
  • A 5-year average of $150.2 million and a median of $85.3 million in 2022 define the central range for Operating Expenses.
  • Biggest YoY gain for Operating Expenses was 384.22% in 2025; the steepest drop was 214.57% in 2025.
  • Madrigal Pharmaceuticals' Operating Expenses stood at $64.6 million in 2021, then surged by 32.04% to $85.3 million in 2022, then surged by 37.37% to $117.2 million in 2023, then soared by 175.1% to $322.4 million in 2024, then rose by 18.1% to $380.7 million in 2025.
  • Per Business Quant, the three most recent readings for MDGL's Operating Expenses are $380.7 million (Q4 2025), $864.2 million (Q3 2025), and -$203.0 million (Q2 2025).