Vaxcyte (PCVX) Operating Expenses (2019 - 2026)

Vaxcyte's (PCVX) quarterly Operating Expenses came in at $345.8 million in Q1 2026, up 91.3% year-on-year from $180.8 million in Q1 2025, and up 26.09% on a QoQ basis from $274.3 million in Q4 2025.

Vaxcyte (PCVX) Operating Expenses (2019 - 2026) Analysis & Trends

Vaxcyte (PCVX) has 8 years of Operating Expenses data on file, last reported at $345.8 million in Q1 2026.

  • On a quarterly basis, Operating Expenses rose 91.3% year-over-year to $345.8 million in Q1 2026; TTM through Mar 2026 was $1.1 billion, a 71.22% increase from a year earlier, with the FY2025 full-year figure at $923.7 million, up 62.18% from the prior year.
  • Operating Expenses for Q1 2026 stood at $345.8 million, up from $274.3 million in the prior quarter.
  • Over the last five years, Operating Expenses for PCVX reached as high as $345.8 million in Q1 2026 and fell as low as $39.2 million in Q1 2022.
  • Historically, Operating Expenses has averaged $149.4 million across 5 years, with a median of $139.9 million in 2024.
  • Across the five-year window, Operating Expenses surged 190.07% in 2022 and fell 17.55% in 2024, its largest moves.
  • Year by year, Operating Expenses stood at $86.6 million in 2022, then jumped by 127.18% to $196.7 million in 2023, then decreased by 17.55% to $162.2 million in 2024, then surged by 69.13% to $274.3 million in 2025, then rose by 26.09% to $345.8 million in 2026.
  • Per Business Quant data, the three most recent Operating Expenses figures were $345.8 million in Q1 2026, $274.3 million in Q4 2025, and $242.4 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Oculis Holding AG 68,785.72 Bn 68,785.72 Bn - -28.01 Mn
2 Nanobiotix 1,895.57 Bn 1,895.51 Bn - -
3 BeOne Medicines 471.35 Bn 466.56 Bn 1.35 Bn 1.10 Bn
4 NuCana 279.75 Bn 279.75 Bn - -3.78 Mn
5 Vertex Pharmaceuticals 120.24 Bn 113.00 Bn 2.59 Bn 1.85 Bn
6 Regeneron Pharmaceuticals 67.80 Bn 59.04 Bn 3.31 Bn 2.96 Bn
7 Belite Bio 62.51 Bn 62.51 Bn - 32.68 Mn
8 Argenx Se 57.38 Bn 57.38 Bn 1.41 Bn 2.89 Bn
9 Revolution Medicines 37.78 Bn 37.78 Bn - 445.22 Mn
10 Vaxcyte 7.76 Bn 7.76 Bn - 345.85 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 345.85 Mn
Dec 31, 2025 274.28 Mn
Sep 30, 2025 242.38 Mn
Jun 30, 2025 226.22 Mn
Mar 31, 2025 180.79 Mn
Dec 31, 2024 162.17 Mn
Sep 30, 2024 139.92 Mn
Jun 30, 2024 152.98 Mn
Mar 31, 2024 114.47 Mn
Dec 31, 2023 196.68 Mn
Sep 30, 2023 113.03 Mn
Jun 30, 2023 87.15 Mn
Mar 31, 2023 71.19 Mn
Dec 31, 2022 86.57 Mn
Sep 30, 2022 58.58 Mn
Jun 30, 2022 47.89 Mn
Mar 31, 2022 39.22 Mn
Dec 31, 2021 29.85 Mn
Sep 30, 2021 26.95 Mn
Jun 30, 2021 23.73 Mn