Zeo Energy (ZEO) Operating Expenses (2022 - 2026)
Zeo Energy's (ZEO) quarterly Operating Expenses came in at $18.0 million in Q1 2026, down 19.49% YoY from $22.3 million in Q1 2025, and down 13.51% on a QoQ basis from $20.8 million in Q4 2025.
Zeo Energy (ZEO) Operating Expenses (2022 - 2026) Analysis & Trends
Zeo Energy (ZEO) has 5 years of Operating Expenses data on file, last reported at $18.0 million in Q1 2026.
- Quarterly Operating Expenses fell 19.49% year-over-year to $18.0 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $85.5 million (up 4.12% YoY) and the FY2025 annual result came in at $89.9 million, up 6.94% from the prior year.
- Operating Expenses eased to $18.0 million in Q1 2026, from $20.8 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $33.9 million in Q3 2023 to a low of $371743.0 in Q2 2022.
- A 5-year average of $19.8 million and a median of $21.0 million in 2025 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2023 — Operating Expenses surged 7757.85% — and 2024, when it sank 40.23%.
- Tracing ZEO's Operating Expenses over 5 years: stood at $371743.0 in 2022, then surged by 6448.73% to $24.3 million in 2023, then fell by 18.84% to $19.8 million in 2024, then increased by 5.04% to $20.8 million in 2025, then decreased by 13.51% to $18.0 million in 2026.
- The last three Operating Expenses figures came in at $18.0 million (Q1 2026), $20.8 million (Q4 2025), and $25.9 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 23.32 Bn | 21.59 Bn | 605.00 Mn | 154.62 Mn |
| 2 | Nextpower | 13.15 Bn | 11.93 Bn | 335.85 Mn | 144.95 Mn |
| 3 | Enphase Energy | 5.16 Bn | 4.22 Bn | 175.01 Mn | 123.50 Mn |
| 4 | Sunrun | 2.25 Bn | 2.25 Bn | 527.54 Mn | 835.20 Mn |
| 5 | Solaredge Technologies | 1.92 Bn | 1.34 Bn | 95.15 Mn | 111.20 Mn |
| 6 | Shoals Technologies | 1.22 Bn | 1.21 Bn | 49.53 Mn | 30.80 Mn |
| 7 | Canadian Solar | 993.25 Mn | -595.03 Mn | 124.40 Mn | 188.46 Mn |
| 8 | JinkoSolar Holding | 841.85 Mn | -2.47 Bn | 147.66 Mn | -232.93 Mn |
| 9 | Array Technologies | 723.94 Mn | 416.64 Mn | 99.60 Mn | 64.84 Mn |
| 10 | Zeo Energy | 15.50 Mn | 12.56 Mn | 7.62 Mn | 19.16 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 17.95 Mn |
| Dec 31, 2025 | 20.75 Mn |
| Sep 30, 2025 | 25.88 Mn |
| Jun 30, 2025 | 20.96 Mn |
| Mar 31, 2025 | 22.30 Mn |
| Dec 31, 2024 | 19.76 Mn |
| Sep 30, 2024 | 22.64 Mn |
| Jun 30, 2024 | 17.46 Mn |
| Mar 31, 2024 | 24.19 Mn |
| Dec 31, 2023 | 24.34 Mn |
| Sep 30, 2023 | 33.89 Mn |
| Jun 30, 2023 | 29.21 Mn |
| Mar 31, 2023 | 17.10 Mn |
| Jun 30, 2022 | 371,743.00 |
| Mar 31, 2022 | 842,990.00 |