Pulmatrix (PULM) Operating Expenses (2013 - 2026)
Pulmatrix's Operating Expenses was $1.05 million in Q2 2026, down 32.4% from $1.55 million a year earlier and down 19.0% from the prior quarter.
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Analysis
Pulmatrix (PULM) Operating Expenses (2013 - 2026) Analysis & Trends
On a trailing twelve-month basis, Pulmatrix's Operating Expenses was $4.11 million through Jun 30, 2026, down 50.9% year-over-year; for FY2025, it was $5.17 million, down 70.6% from FY2024.
- Operating Expenses has now declined for four consecutive years, with a five-year compound annual growth rate of -25.5% (FY2020 to FY2025).
- In earlier years, Operating Expenses was $17.57 million in FY2024 (-20.3%), $22.04 million in FY2023 (-11.9%), $25.02 million in FY2022 (-1.3%) and $25.34 million in FY2021 (+12.6%).
- Quarterly Operating Expenses has moved between $866,000 (Q3 2025) and $9.26 million (Q3 2021) over five years.
- Compared with a year earlier, Operating Expenses has declined for eight straight quarters, with an average decline of 54.2% over the last eight quarters.
- The best year-over-year quarter for Operating Expenses over five years was Q3 2021 (growth of 63.9%); the worst was Q2 2025 (a decline of 79.2%).
- Per Business Quant data, PULM's Operating Expenses in the three quarters before Q2 2026 was $1.29 million (Q1 2026), $908,000 (Q4 2025) and $866,000 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 638.12 Bn | 556.64 Bn | 17.26 Bn | 10.12 Bn |
| 2 | AbbVie | 462.60 Bn | 435.75 Bn | 12.70 Bn | 10.56 Bn |
| 3 | Merck | 358.70 Bn | 313.13 Bn | 12.21 Bn | 12.80 Bn |
| 4 | Novartis Ag | 272.16 Bn | 228.03 Bn | 11.24 Bn | -6.09 Bn |
| 5 | Astrazeneca | 250.36 Bn | 223.92 Bn | 12.86 Bn | -9.70 Bn |
| 6 | Amgen | 227.87 Bn | 183.27 Bn | 7.24 Bn | 6.54 Bn |
| 7 | Gilead Sciences | 184.97 Bn | 159.08 Bn | 6.22 Bn | 18.20 Bn |
| 8 | Pfizer | 162.61 Bn | 109.56 Bn | 10.94 Bn | 6.68 Bn |
| 9 | Vertex Pharmaceuticals | 132.45 Bn | 104.46 Bn | 2.84 Bn | 2.09 Bn |
| 10 | Pulmatrix | 5.55 Mn | 5.55 Mn | - | 1.05 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.05 Mn |
| Mar 31, 2026 | 1.29 Mn |
| Dec 31, 2025 | 908,000.00 |
| Sep 30, 2025 | 866,000.00 |
| Jun 30, 2025 | 1.55 Mn |
| Mar 31, 2025 | 1.85 Mn |
| Dec 31, 2024 | 1.96 Mn |
| Sep 30, 2024 | 3.02 Mn |
| Jun 30, 2024 | 7.45 Mn |
| Mar 31, 2024 | 5.14 Mn |
| Dec 31, 2023 | 4.43 Mn |
| Sep 30, 2023 | 5.69 Mn |
| Jun 30, 2023 | 5.84 Mn |
| Mar 31, 2023 | 6.08 Mn |
| Dec 31, 2022 | 6.03 Mn |
| Sep 30, 2022 | 6.97 Mn |
| Jun 30, 2022 | 5.89 Mn |
| Mar 31, 2022 | 6.12 Mn |
| Dec 31, 2021 | 4.50 Mn |
| Sep 30, 2021 | 9.26 Mn |
API Access
Pulmatrix Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=PULM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "PULM", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=PULM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();