Vaxart (VXRT) Operating Expenses (2010 - 2026)
Vaxart (VXRT) recorded Operating Expenses of $40.36 million in Q2 2026, down 25.7% from $54.33 million a year earlier but up 18.5% from the prior quarter.
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Analysis
Vaxart (VXRT) Operating Expenses (2010 - 2026) Analysis & Trends
On a TTM basis, Vaxart's Operating Expenses came in at $203.45 million as of Jun 30, 2026, up 49.3% year-over-year; for FY2025, it came in at $219.18 million, up 130.7% from FY2024.
- Annual Operating Expenses has a five-year compound annual growth rate of 45.0% (FY2020 to FY2025).
- Across earlier years, Operating Expenses came in at $94.99 million in FY2024 (+4.7%), $90.73 million in FY2023 (-20.9%), $114.69 million in FY2022 (+55.7%) and $73.64 million in FY2021 (+115.2%).
- Quarterly Operating Expenses has ranged from $17.45 million in Q3 2021 to $80.22 million in Q3 2025 over the past five years.
- On a year-over-year basis, Operating Expenses rose in five of the last eight quarters, with growth averaging 71.5%.
- Peak year-over-year performance for Operating Expenses in the last five years was growth of 313.4% in Q3 2025, against a decline of 35.3% in Q4 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at $34.05 million (Q1 2026), $48.82 million (Q4 2025) and $80.22 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Eli Lilly | 1,171.69 Bn | 1,140.28 Bn | 19.71 Bn | 7.95 Bn |
| 2 | Johnson & Johnson | 649.22 Bn | 569.08 Bn | 17.30 Bn | 11.12 Bn |
| 3 | AbbVie | 504.17 Bn | 477.29 Bn | 12.70 Bn | 10.56 Bn |
| 4 | Merck | 366.35 Bn | 320.73 Bn | 12.21 Bn | 12.80 Bn |
| 5 | Novartis Ag | 303.54 Bn | 267.53 Bn | 11.24 Bn | 6.09 Bn |
| 6 | Astrazeneca | 269.49 Bn | 243.18 Bn | 12.86 Bn | 9.70 Bn |
| 7 | Amgen | 242.61 Bn | 198.01 Bn | 7.24 Bn | 6.54 Bn |
| 8 | Gilead Sciences | 195.09 Bn | 169.29 Bn | 6.22 Bn | 18.20 Bn |
| 9 | Pfizer | 172.48 Bn | 119.12 Bn | 10.94 Bn | 6.68 Bn |
| 10 | Vaxart | 106.79 Mn | 42.79 Mn | - | 40.36 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 40.36 Mn |
| Mar 31, 2026 | 34.05 Mn |
| Dec 31, 2025 | 48.82 Mn |
| Sep 30, 2025 | 80.22 Mn |
| Jun 30, 2025 | 54.33 Mn |
| Mar 31, 2025 | 35.81 Mn |
| Dec 31, 2024 | 26.68 Mn |
| Sep 30, 2024 | 19.41 Mn |
| Jun 30, 2024 | 22.66 Mn |
| Mar 31, 2024 | 26.25 Mn |
| Dec 31, 2023 | 20.15 Mn |
| Sep 30, 2023 | 19.92 Mn |
| Jun 30, 2023 | 24.41 Mn |
| Mar 31, 2023 | 26.25 Mn |
| Dec 31, 2022 | 31.16 Mn |
| Sep 30, 2022 | 29.43 Mn |
| Jun 30, 2022 | 29.25 Mn |
| Mar 31, 2022 | 24.86 Mn |
| Dec 31, 2021 | 24.29 Mn |
| Sep 30, 2021 | 17.45 Mn |
API Access
Vaxart 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=VXRT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "VXRT", "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=VXRT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();