Growth Metrics

Stardust Power (SDST) Operating Expenses (2021 - 2025)

Stardust Power posted quarterly Operating Expenses of $3.7 million for Q4 2025, down 45.91% year-on-year from $6.9 million in Q4 2024, and down 7.38% on a QoQ basis from $4.0 million in Q3 2025.

Stardust Power (SDST) has 5 years of Operating Expenses data on file, last reported at $3.7 million in Q4 2025.

  • For the quarter ending Q4 2025, Operating Expenses fell 45.91% year-over-year to $3.7 million; the trailing twelve-month figure through Dec 2025 stood at $17.1 million (down 10.24% YoY), and the FY2025 full-year result was $17.4 million, down 8.63% from the prior year.
  • Operating Expenses for Q4 2025 stood at $3.7 million, down from $4.0 million in the prior quarter.
  • Across five years, Operating Expenses topped out at $9.4 million in Q3 2024 and bottomed at $219000.0 in Q1 2021.
  • The 5-year median for Operating Expenses is $1.4 million (2022), against an average of $2.4 million.
  • The widest annual swing landed in 2022, when Operating Expenses plunged 78.3%; it then soared 997.01% in 2024.
  • A 5-year view of Operating Expenses shows it stood at $256000.0 in 2021, then rose by 28.12% to $328000.0 in 2022, then jumped by 766.27% to $2.8 million in 2023, then jumped by 141.09% to $6.9 million in 2024, then slumped by 45.91% to $3.7 million in 2025.
  • The last three Operating Expenses figures came in at $3.7 million (Q4 2025), $4.0 million (Q3 2025), and $3.3 million (Q2 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Vertiv Holdings 125.39 Bn 122.89 Bn 999.70 Mn 451.80 Mn
2 Bloom Energy 85.22 Bn 82.75 Bn 225.54 Mn 153.35 Mn
3 nVent Electric 26.63 Bn 26.44 Bn 445.60 Mn 249.90 Mn
4 Hubbell 25.22 Bn 24.72 Bn 505.30 Mn 241.50 Mn
5 Advanced Energy Industries 12.25 Bn 12.25 Bn 200.90 Mn 132.60 Mn
6 Powell Industries 10.16 Bn 9.61 Bn 87.94 Mn 30.13 Mn
7 Acuity Inc. (De) 8.82 Bn 8.55 Bn 520.40 Mn 387.40 Mn
8 EnerSys 8.70 Bn 8.26 Bn 290.87 Mn 19.72 Mn
9 Plug Power 5.25 Bn 4.87 Bn -21.61 Mn 87.88 Mn
10 Stardust Power 27.64 Mn 24.16 Mn - 3.71 Mn

Historic Data

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DateValue
Dec 31, 2025 3.71 Mn
Sep 30, 2025 4.00 Mn
Jun 30, 2025 3.34 Mn
Mar 31, 2025 6.04 Mn
Dec 31, 2024 6.85 Mn
Sep 30, 2024 9.36 Mn
Jun 30, 2024 1.47 Mn
Mar 31, 2024 1.35 Mn
Dec 31, 2023 2.84 Mn
Sep 30, 2023 853,455.00
Jun 30, 2023 388,000.00
Mar 31, 2023 1.15 Mn
Dec 31, 2022 328,000.00
Sep 30, 2022 1.44 Mn
Jun 30, 2022 479,000.00
Mar 31, 2022 266,000.00
Dec 31, 2021 256,000.00
Sep 30, 2021 1.07 Mn
Jun 30, 2021 2.21 Mn
Mar 31, 2021 219,000.00