Relay Therapeutics (RLAY) Operating Expenses (2019 - 2026)
Relay Therapeutics (RLAY) posted quarterly Operating Expenses of $81.6 million for Q1 2026, down 11.84% year-over-year from $92.5 million in Q1 2025, and up 20.64% quarter-over-quarter from $67.6 million in Q4 2025.
Relay Therapeutics (RLAY) Operating Expenses (2019 - 2026) Analysis & Trends
Relay Therapeutics (RLAY) has reported Operating Expenses for 8 consecutive years, with $81.6 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Expenses fell 11.84% year-over-year to $81.6 million; the TTM figure through Mar 2026 stood at $307.1 million (down 18.02% YoY), while the FY2025 annual figure was $318.1 million, down 16.83% from the prior year.
- Operating Expenses climbed to $81.6 million in Q1 2026 per RLAY's latest filing, from $67.6 million in the prior quarter.
- Across five years, Operating Expenses topped out at $106.2 million in Q2 2023 and bottomed at $63.1 million in Q1 2022.
- Historically, Operating Expenses has averaged $87.1 million across 5 years, with a median of $86.2 million in 2022.
- Annual changes were most pronounced in 2022 — Operating Expenses sank 59.79% — and 2023, when it jumped 60.6%.
- Relay Therapeutics' Operating Expenses stood at $73.1 million in 2022, then advanced by 26.11% to $92.2 million in 2023, then slipped by 7.83% to $85.0 million in 2024, then dropped by 20.42% to $67.6 million in 2025, then increased by 20.64% to $81.6 million in 2026.
- Business Quant data shows RLAY's Operating Expenses at $81.6 million in Q1 2026, $67.6 million in Q4 2025, and $80.4 million in Q3 2025.
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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 | Relay Therapeutics | 4.34 Bn | 4.34 Bn | - | 91.17 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 91.17 Mn |
| Mar 31, 2026 | 81.59 Mn |
| Dec 31, 2025 | 67.63 Mn |
| Sep 30, 2025 | 80.39 Mn |
| Jun 30, 2025 | 77.52 Mn |
| Mar 31, 2025 | 92.55 Mn |
| Dec 31, 2024 | 84.98 Mn |
| Sep 30, 2024 | 96.37 Mn |
| Jun 30, 2024 | 100.76 Mn |
| Mar 31, 2024 | 100.37 Mn |
| Dec 31, 2023 | 92.20 Mn |
| Sep 30, 2023 | 98.78 Mn |
| Jun 30, 2023 | 106.17 Mn |
| Mar 31, 2023 | 101.40 Mn |
| Dec 31, 2022 | 73.10 Mn |
| Sep 30, 2022 | 86.24 Mn |
| Jun 30, 2022 | 78.18 Mn |
| Mar 31, 2022 | 63.14 Mn |
| Dec 31, 2021 | 68.29 Mn |
| Sep 30, 2021 | 61.66 Mn |