MakeMyTrip (MMYT) Operating Expenses (2009 - 2026)
MakeMyTrip's (MMYT) quarterly Operating Expenses came in at $105.7 million in Q1 2026, down 3.47% year-on-year from $109.5 million in Q1 2025, and down 11.87% quarter-over-quarter from $119.9 million in Q4 2025.
MakeMyTrip (MMYT) Operating Expenses (2009 - 2026) Analysis & Trends
MakeMyTrip's Operating Expenses history runs 18 years deep, the most recent figure standing at $105.7 million for Q1 2026.
- On a quarterly basis, Operating Expenses fell 3.47% year-over-year to $105.7 million in Q1 2026; TTM through Mar 2026 was $429.5 million, a 6.26% increase from a year earlier, with the FY2026 full-year figure at $429.5 million, up 1.22% from the prior year.
- Operating Expenses eased to $105.7 million in Q1 2026 per MMYT's latest filing, from $119.9 million in the prior quarter.
- Across five years, Operating Expenses topped out at $119.9 million in Q4 2025 and bottomed at $38.0 million in Q1 2022.
- The 5-year median for Operating Expenses is $90.2 million (2024), against an average of $86.8 million.
- Across the five-year window, Operating Expenses soared 284.8% in 2022 and dropped 3.47% in 2026, its largest moves.
- Year by year, Operating Expenses stood at $71.3 million in 2022, then surged by 31.52% to $93.8 million in 2023, then increased by 16.1% to $108.8 million in 2024, then grew by 10.15% to $119.9 million in 2025, then fell by 11.87% to $105.7 million in 2026.
- Per Business Quant, the three latest MMYT Operating Expenses figures stand at $105.7 million (Q1 2026), $119.9 million (Q4 2025), and $96.2 million (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 136.54 Bn | 120.51 Bn | 3.46 Bn | 4.26 Bn |
| 2 | Royal Caribbean Cruises | 86.11 Bn | 85.59 Bn | 2.21 Bn | 582.00 Mn |
| 3 | Airbnb | 82.27 Bn | 70.26 Bn | 2.10 Bn | 2.59 Bn |
| 4 | Yatra Online | 55.46 Bn | 55.47 Bn | 10.44 Mn | 379,000.00 |
| 5 | Viking Holdings | 44.18 Bn | 40.37 Bn | 713.43 Mn | -352.87 Mn |
| 6 | Carnival | 34.61 Bn | 32.38 Bn | - | 4.23 Bn |
| 7 | Expedia | 31.38 Bn | 28.88 Bn | 3.05 Bn | 576.00 Mn |
| 8 | Norwegian Cruise Line Holdings | 8.54 Bn | 8.35 Bn | 953.34 Mn | 720.40 Mn |
| 9 | MakeMyTrip | 5.02 Bn | 4.60 Bn | 199.14 Mn | 105.66 Mn |
| 10 | Global Business Travel | 4.83 Bn | 4.43 Bn | 490.00 Mn | 837.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 105.66 Mn |
| Dec 31, 2025 | 119.90 Mn |
| Sep 30, 2025 | 96.23 Mn |
| Jun 30, 2025 | 107.74 Mn |
| Mar 31, 2025 | 109.46 Mn |
| Dec 31, 2024 | 108.85 Mn |
| Sep 30, 2024 | 89.17 Mn |
| Jun 30, 2024 | 96.76 Mn |
| Mar 31, 2024 | 90.25 Mn |
| Dec 31, 2023 | 93.75 Mn |
| Sep 30, 2023 | 80.18 Mn |
| Jun 30, 2023 | 84.49 Mn |
| Mar 31, 2023 | 64.16 Mn |
| Dec 31, 2022 | 71.28 Mn |
| Sep 30, 2022 | 57.30 Mn |
| Jun 30, 2022 | 63.18 Mn |
| Mar 31, 2022 | 38.03 Mn |
| Dec 31, 2021 | 62.97 Mn |
| Sep 30, 2021 | 29.91 Mn |
| Jun 30, 2021 | 16.42 Mn |