Nuvalent (NUVL) Operating Expenses (2020 - 2026)
Nuvalent's (NUVL) quarterly Operating Expenses came in at $119.4 million in Q1 2026, up 25.94% YoY from $94.8 million in Q1 2025, and up 16.8% on a QoQ basis from $102.2 million in Q4 2025.
Nuvalent (NUVL) Operating Expenses (2020 - 2026) Analysis & Trends
Nuvalent (NUVL) has 7 years of Operating Expenses data on file, last reported at $119.4 million in Q1 2026.
- Quarterly Operating Expenses rose 25.94% year-over-year to $119.4 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $337.7 million (up 2907.32% YoY) and the FY2025 annual result came in at $414.3 million, up 2265.98% from the prior year.
- Operating Expenses grew to $119.4 million in Q1 2026, from $102.2 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $119.4 million in Q1 2026 to a low of -$176.6 million in Q4 2024.
- A 5-year average of $23.2 million and a median of $30.2 million in 2023 frame the typical range for Operating Expenses.
- The widest YoY moves for Operating Expenses: up 187.05% in 2022, down 385.92% in 2022.
- Tracing NUVL's Operating Expenses over 5 years: stood at -$49.7 million in 2022, then tumbled by 88.71% to -$93.8 million in 2023, then plunged by 88.3% to -$176.6 million in 2024, then surged by 157.9% to $102.2 million in 2025, then rose by 16.8% to $119.4 million in 2026.
- The last three Operating Expenses figures came in at $119.4 million (Q1 2026), $102.2 million (Q4 2025), and $11.5 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 128.13 Bn | 120.28 Bn | 2.84 Bn | 2.09 Bn |
| 2 | Regeneron Pharmaceuticals | 112.33 Bn | 104.33 Bn | 3.93 Bn | 3.00 Bn |
| 3 | Argenx Se | 53.24 Bn | 48.05 Bn | 1.41 Bn | 2.89 Bn |
| 4 | Revolution Medicines | 43.64 Bn | 43.64 Bn | - | 505.13 Mn |
| 5 | BeOne Medicines | 39.27 Bn | 34.17 Bn | 1.53 Bn | 1.21 Bn |
| 6 | MindWalk Holdings | 35.32 Bn | 35.31 Bn | 1.82 Bn | 4,978.15 |
| 7 | Royalty Pharma | 33.72 Bn | 35.84 Bn | - | 541.02 Mn |
| 8 | Alnylam Pharmaceuticals | 30.58 Bn | 27.27 Bn | 992.69 Mn | 1.06 Bn |
| 9 | Insmed | 27.01 Bn | 25.85 Bn | 358.27 Mn | 427.03 Mn |
| 10 | Nuvalent | 9.10 Bn | 9.10 Bn | - | 119.41 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 119.41 Mn |
| Dec 31, 2025 | 102.23 Mn |
| Sep 30, 2025 | 11.46 Mn |
| Jun 30, 2025 | 104.57 Mn |
| Mar 31, 2025 | 94.81 Mn |
| Dec 31, 2024 | -176.56 Mn |
| Sep 30, 2024 | 4.57 Mn |
| Jun 30, 2024 | 65.15 Mn |
| Mar 31, 2024 | 52.59 Mn |
| Dec 31, 2023 | -93.76 Mn |
| Sep 30, 2023 | 38.78 Mn |
| Jun 30, 2023 | 34.06 Mn |
| Mar 31, 2023 | 30.21 Mn |
| Dec 31, 2022 | -49.69 Mn |
| Sep 30, 2022 | 20.39 Mn |
| Jun 30, 2022 | 18.73 Mn |
| Mar 31, 2022 | 17.69 Mn |
| Dec 31, 2021 | 17.38 Mn |
| Sep 30, 2021 | 12.43 Mn |
| Jun 30, 2021 | 9.85 Mn |