Tarsus Pharmaceuticals (TARS) Operating Expenses (2019 - 2026)

Tarsus Pharmaceuticals' (TARS) quarterly Operating Expenses came in at $168.2 million in Q1 2026, up 60.76% year-on-year from $104.6 million in Q1 2025, and up 5.34% quarter-over-quarter from $159.6 million in Q4 2025.

Tarsus Pharmaceuticals (TARS) Operating Expenses (2019 - 2026) Analysis & Trends

Tarsus Pharmaceuticals' Operating Expenses history runs 8 years deep, the most recent figure standing at $168.2 million for Q1 2026.

  • On a quarterly basis, Operating Expenses rose 60.76% year-over-year to $168.2 million in Q1 2026; TTM through Mar 2026 was $585.9 million, a 70.89% increase from a year earlier, with the FY2025 full-year figure at $522.3 million, up 72.09% from the prior year.
  • Operating Expenses grew to $168.2 million in Q1 2026 per TARS's latest filing, from $159.6 million in the prior quarter.
  • Across five years, Operating Expenses topped out at $168.2 million in Q1 2026 and bottomed at $20.1 million in Q1 2022.
  • The 5-year median for Operating Expenses is $65.3 million (2024), against an average of $73.1 million.
  • Across the five-year window, Operating Expenses fell 11.7% in 2022 and soared 137.86% in 2024, its largest moves.
  • Year by year, Operating Expenses stood at $25.1 million in 2022, then soared by 129.54% to $57.5 million in 2023, then soared by 57.89% to $90.8 million in 2024, then jumped by 75.76% to $159.6 million in 2025, then grew by 5.34% to $168.2 million in 2026.
  • Per Business Quant, the three latest TARS Operating Expenses figures stand at $168.2 million (Q1 2026), $159.6 million (Q4 2025), and $133.2 million (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 Tarsus Pharmaceuticals 2.52 Bn 2.41 Bn 152.66 Mn 168.18 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 168.18 Mn
Dec 31, 2025 159.64 Mn
Sep 30, 2025 133.23 Mn
Jun 30, 2025 124.84 Mn
Mar 31, 2025 104.62 Mn
Dec 31, 2024 90.83 Mn
Sep 30, 2024 73.28 Mn
Jun 30, 2024 74.12 Mn
Mar 31, 2024 65.30 Mn
Dec 31, 2023 57.53 Mn
Sep 30, 2023 42.81 Mn
Jun 30, 2023 32.82 Mn
Mar 31, 2023 27.45 Mn
Dec 31, 2022 25.06 Mn
Sep 30, 2022 22.91 Mn
Jun 30, 2022 20.50 Mn
Mar 31, 2022 20.06 Mn
Dec 31, 2021 14.79 Mn
Sep 30, 2021 16.95 Mn
Jun 30, 2021 14.74 Mn