Nakamoto (NAKA) Operating Expenses (2024 - 2026)

Nakamoto (NAKA) posted quarterly Operating Expenses of $128.8 million for Q1 2026, up 7843.77% year-over-year from $1.6 million in Q1 2025, and down 29.88% quarter-over-quarter from $183.7 million in Q4 2025.

Nakamoto (NAKA) Operating Expenses (2024 - 2026) Analysis & Trends

Nakamoto (NAKA) has reported Operating Expenses for 3 consecutive years, with $128.8 million the latest figure, recorded in Q1 2026.

  • In Q1 2026, Operating Expenses rose 7843.77% year-over-year to $128.8 million; the TTM figure through Mar 2026 stood at $326.2 million (up 4825.47% YoY), while the FY2025 annual figure was $199.0 million, up 3179.6% from the prior year.
  • Operating Expenses slipped to $128.8 million in Q1 2026 per NAKA's latest filing, from $183.7 million in the prior quarter.
  • Across five years, Operating Expenses topped out at $183.7 million in Q4 2025 and bottomed at $1.1 million in Q1 2024.
  • Historically, Operating Expenses has averaged $37.1 million across 3 years, with a median of $1.7 million in 2024.
  • On a YoY basis, Operating Expenses climbed as much as 11196.84% in 2025 and fell as far as 52.14% in 2025.
  • Nakamoto's Operating Expenses stood at $1.6 million in 2024, then soared by 11196.84% to $183.7 million in 2025, then declined by 29.88% to $128.8 million in 2026.
  • Business Quant data shows NAKA's Operating Expenses at $128.8 million in Q1 2026, $183.7 million in Q4 2025, and $10.8 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Morgan Stanley 338.83 Bn 205.30 Bn - 13.90 Bn
2 Goldman Sachs 316.34 Bn -660.01 Bn - 11.67 Bn
3 Schwab Charles 220.55 Bn 135.80 Bn - 3.29 Bn
4 Futu Holdings 121.48 Bn 105.59 Bn 733.58 Mn -200.78 Mn
5 Robinhood Markets 84.07 Bn 66.74 Bn 1.20 Bn 734.00 Mn
6 Iren 68.17 Bn 65.95 Bn 104.86 Mn 81.75 Mn
7 ATIF Holdings 45.42 Bn 45.42 Bn - -
8 Interactive Brokers 39.54 Bn -3.28 Bn - 381.00 Mn
9 LPL Financial Holdings 28.27 Bn 25.57 Bn - 4.67 Bn
10 Nakamoto 80,673.84 -35.22 Mn 1.38 Mn 128.85 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 128.85 Mn
Dec 31, 2025 183.75 Mn
Sep 30, 2025 10.79 Mn
Jun 30, 2025 2.80 Mn
Mar 31, 2025 1.62 Mn
Dec 31, 2024 1.63 Mn
Sep 30, 2024 1.70 Mn
Jun 30, 2024 1.68 Mn
Mar 31, 2024 1.07 Mn