Nakamoto (NAKAW) Operating Expenses (2024 - 2026)
Nakamoto (NAKAW) posted quarterly Operating Expenses of $128.8 million for Q1 2026, up 7843.77% YoY from $1.6 million in Q1 2025, and down 29.88% sequentially from $183.7 million in Q4 2025.
Nakamoto (NAKAW) Operating Expenses (2024 - 2026) Analysis & Trends
Nakamoto has disclosed Operating Expenses across 3 years of filings, most recently posting $128.8 million for 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 retreated to $128.8 million in Q1 2026, from $183.7 million in the prior quarter.
- Over the last five years, Operating Expenses for NAKAW reached as high as $183.7 million in Q4 2025 and fell as low as $1.1 million in Q1 2024.
- The 3-year median for Operating Expenses is $1.7 million (2024), against an average of $37.1 million.
- The widest YoY moves for Operating Expenses: up 11196.84% in 2025, down 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.
- According to Business Quant data, Operating Expenses over the past three periods registered $128.8 million, $183.7 million, and $10.8 million for Q1 2026, Q4 2025, and Q3 2025 respectively.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 330.70 Bn | 197.17 Bn | - | 13.47 Bn |
| 2 | Goldman Sachs | 309.79 Bn | -627.76 Bn | - | 10.43 Bn |
| 3 | Schwab Charles | 167.21 Bn | 122.24 Bn | - | 3.29 Bn |
| 4 | Futu Holdings | 111.36 Bn | 109.19 Bn | 733.58 Mn | -200.78 Mn |
| 5 | Robinhood Markets | 97.69 Bn | 93.05 Bn | 960.00 Mn | 656.00 Mn |
| 6 | LPL Financial Holdings | 23.49 Bn | 22.47 Bn | - | 4.45 Bn |
| 7 | Tradeweb Markets | 21.59 Bn | 20.34 Bn | - | 330.51 Mn |
| 8 | Circle Internet | 15.14 Bn | 13.62 Bn | 35.01 Mn | 242.35 Mn |
| 9 | Iren | 14.46 Bn | 12.24 Bn | 144.76 Mn | 81.75 Mn |
| 10 | Nakamoto | - | - | 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 |