Nakamoto (NAKA) Operating Expenses (2024 - 2026)
Nakamoto (NAKA) reported 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 3 years of Operating Expenses data on file, last reported at $128.8 million in Q1 2026.
- Operating Expenses for Q1 2026 came in at $128.8 million, up 7843.77% year-over-year; the trailing twelve-month figure through Mar 2026 was $326.2 million (up 4825.47% YoY), and the FY2025 annual result was $199.0 million, up 3179.6% from the prior year.
- Operating Expenses declined to $128.8 million in Q1 2026 per NAKA's latest filing, from $183.7 million in the prior quarter.
- Over five years, Operating Expenses peaked at $183.7 million in Q4 2025 and troughed at $1.1 million in Q1 2024.
- A 3-year average of $37.1 million and a median of $1.7 million in 2024 frame the typical range for Operating Expenses.
- On a YoY basis, Operating Expenses climbed as much as 11196.84% in 2025 and fell as far as 52.14% in 2025.
- A 3-year view of Operating Expenses shows it stood at $1.6 million in 2024, then surged by 11196.84% to $183.7 million in 2025, then dropped 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 | SOL Strategies | 94,425.84 Bn | 94,425.84 Bn | - | 386,258.80 |
| 2 | Morgan Stanley | 349.82 Bn | 216.29 Bn | - | 13.47 Bn |
| 3 | Goldman Sachs | 333.85 Bn | -603.70 Bn | - | 10.43 Bn |
| 4 | Schwab Charles | 160.31 Bn | 115.33 Bn | - | 3.29 Bn |
| 5 | Robinhood Markets | 97.28 Bn | 92.64 Bn | 960.00 Mn | 656.00 Mn |
| 6 | Interactive Brokers | 42.79 Bn | 53.38 Bn | - | 381.00 Mn |
| 7 | LPL Financial Holdings | 23.54 Bn | 22.51 Bn | - | 4.45 Bn |
| 8 | Tradeweb Markets | 21.20 Bn | 19.96 Bn | - | 330.51 Mn |
| 9 | Iren | 19.97 Bn | 17.75 Bn | 144.76 Mn | 81.75 Mn |
| 10 | Nakamoto | 2.65 Mn | -40.83 Mn | 1.38 Mn | 128.85 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |