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

Stardust Power (SDSTW) reported Operating Expenses of $3.7 million for Q4 2025, down 45.91% on a YoY basis from $6.9 million in Q4 2024, and down 7.38% quarter-over-quarter from $4.0 million in Q3 2025.

Stardust Power (SDSTW) Operating Expenses (2021 - 2025) Analysis & Trends

Stardust Power has reported Operating Expenses for 5 years, with the latest figure 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.
  • The five-year high for Operating Expenses was $9.4 million in Q3 2024, with the low at $219000.0 in Q1 2021.
  • Historically, Operating Expenses has averaged $2.4 million across 5 years, with a median of $1.4 million in 2022.
  • Annual changes were most pronounced in 2022 — Operating Expenses slumped 78.3% — and 2024, when it soared 997.01%.
  • Stardust Power's Operating Expenses stood at $256000.0 in 2021, then increased by 28.12% to $328000.0 in 2022, then soared by 766.27% to $2.8 million in 2023, then soared by 141.09% to $6.9 million in 2024, then tumbled 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 Novonix 395.03 Bn 394.98 Bn - -
2 Vertiv Holdings 110.52 Bn 108.02 Bn 999.70 Mn 451.80 Mn
3 Bloom Energy 73.12 Bn 70.66 Bn 225.54 Mn 153.35 Mn
4 nVent Electric 26.38 Bn 26.19 Bn 445.60 Mn 249.90 Mn
5 Hubbell 25.79 Bn 25.28 Bn 505.30 Mn 241.50 Mn
6 Advanced Energy Industries 11.69 Bn 11.69 Bn 200.90 Mn 132.60 Mn
7 Ballard Power Systems 11.51 Bn 10.98 Bn 5.64 Mn 16.90 Mn
8 Powell Industries 10.32 Bn 9.77 Bn 87.94 Mn 30.13 Mn
9 Acuity Inc. (De) 9.21 Bn 8.94 Bn 520.40 Mn 387.40 Mn
10 Stardust Power - - - 3.71 Mn

Historic Data

Download Data
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