Netcapital (NCPL) Operating Expenses (2013 - 2026)

Netcapital has disclosed Operating Expenses across 14 years of filings, most recently posting $2.3 million for Q1 2026.

• Operating Expenses for Q1 2026 came in at $2.3 million, up 23.65% year-over-year; the trailing twelve-month figure through Jan 2026 was $10.2 million (up 17.51% YoY), and the FY2025 annual result was $9.2 million, up 10.44% from the prior year.
• Operating Expenses came in at $2.3 million for Q1 2026 at Netcapital, up from $2.2 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $3.5 million in Q3 2025 to a low of $1.3 million in Q3 2022.
• The 5-year median for Operating Expenses is $2.0 million (2023), against an average of $2.0 million.
• Across the five-year window, Operating Expenses retreated 21.53% in 2022 and soared 71.44% in 2023, its largest moves.
• Netcapital's Operating Expenses stood at $1.4 million in 2022, then surged by 39.91% to $2.0 million in 2023, then grew by 19.49% to $2.4 million in 2024, then decreased by 7.84% to $2.2 million in 2025, then advanced by 4.53% to $2.3 million in 2026.
• The last three Operating Expenses figures came in at $2.3 million (Q1 2026), $2.2 million (Q4 2025), and $3.5 million (Q3 2025), per Business Quant data.