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| Date | Value |
|---|---|
| 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 |