Nuvalent (NUVL) Operating Expenses (2020 - 2026)

Nuvalent has reported Operating Expenses for 7 years, with the latest figure at $119.4 million in Q1 2026.

• For the quarter ending Q1 2026, Operating Expenses rose 25.94% year-over-year to $119.4 million; the trailing twelve-month figure through Mar 2026 stood at $526.7 million (up 781.74% YoY), and the FY2025 full-year result was $414.3 million, up 2265.98% from the prior year.
• Operating Expenses for Q1 2026 stood at $119.4 million, down from $388.0 million in the prior quarter.
• The five-year high for Operating Expenses was $388.0 million in Q4 2025, with the low at -$176.6 million in Q4 2024.
• Historically, Operating Expenses has averaged $48.5 million across 5 years, with a median of $30.2 million in 2023.
• Annual changes were most pronounced in 2024 — Operating Expenses tumbled 480.21% — and 2025, when it soared 2986.33%.
• Nuvalent's Operating Expenses stood at $29.3 million in 2022, then surged by 58.49% to $46.4 million in 2023, then plunged by 480.21% to -$176.6 million in 2024, then jumped by 319.77% to $388.0 million in 2025, then slumped by 69.23% to $119.4 million in 2026.
• The last three Operating Expenses figures came in at $119.4 million (Q1 2026), $388.0 million (Q4 2025), and $11.5 million (Q3 2025), per Business Quant data.