Madrigal Pharmaceuticals annual operating expenses
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Madrigal Pharmaceuticals Operating Expenses Growth & History (MDGL)
Madrigal Pharmaceuticals's operating expenses was $1.26B for fiscal 2025.
View full Madrigal Pharmaceuticals company overviewMadrigal Pharmaceuticals annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $1.26B | $580.5M | +85.62% |
| 2024 | 2024-12-31 | $678.0M | $297.5M | +78.19% |
| 2023 | 2023-12-31 | $380.5M | $86.9M | +29.61% |
| 2022 | 2022-12-31 | $293.6M | $51.1M | +21.07% |
| 2021 | 2021-12-31 | $242.5M | $35.8M | +17.33% |
| 2020 | 2020-12-31 | $206.7M | $111.7M | +117.61% |
| 2019 | 2019-12-31 | $95.0M | $54.3M | +133.45% |
| 2018 | 2018-12-31 | $40.7M | $8.6M | +26.89% |
| 2017 | 2017-12-31 | $32.1M | $6.8M | +27.11% |
| 2016 | 2016-12-31 | $25.2M | $22.0M | +680.19% |
| 2015 | 2015-12-31 | $3.2M | −$80.7M | −96.15% |
| 2014 | 2014-12-31 | $84.0M | −$3.6M | −4.12% |
| 2013 | 2013-12-31 | $87.6M | $26.5M | +43.33% |
| 2012 | 2012-12-31 | $61.1M | $8.1M | +15.23% |
| 2011 | 2011-12-31 | $53.0M | $1.3M | +2.54% |
| 2010 | 2010-12-31 | $51.7M | −$13.2M | −20.39% |
| 2009 | 2009-12-31 | $64.9M | — | — |
Madrigal Pharmaceuticals quarterly operating expenses
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| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $420.6M | $160.6M | +61.75% |
| Q1 2026 | 2026-03-31 | $404.1M | $187.5M | +86.58% |
| Q4 2025 | 2025-12-31 | $380.7M | $210.4M | +123.52% |
| Q3 2025 | 2025-09-30 | $401.2M | $222.8M | +124.81% |
| Q2 2025 | 2025-06-30 | $260.0M | $82.8M | +46.75% |
| Q1 2025 | 2025-03-31 | $216.6M | $64.5M | +42.44% |
| Q4 2024 | 2024-12-31 | $170.3M | $53.1M | +45.35% |
| Q3 2024 | 2024-09-30 | $178.5M | $79.9M | +81.13% |
| Q2 2024 | 2024-06-30 | $177.2M | $90.7M | +104.95% |
| Q1 2024 | 2024-03-31 | $152.0M | $73.7M | +94.08% |
| Q4 2023 | 2023-12-31 | $117.2M | $31.9M | +37.37% |
| Q3 2023 | 2023-09-30 | $98.5M | $18.1M | +22.54% |
| Q2 2023 | 2023-06-30 | $86.5M | $16.2M | +23.02% |
| Q1 2023 | 2023-03-31 | $78.3M | $20.7M | +36.03% |
| Q4 2022 | 2022-12-31 | $85.3M | $20.7M | +32.04% |
| Q3 2022 | 2022-09-30 | $80.4M | $17.3M | +27.31% |
| Q2 2022 | 2022-06-30 | $70.3M | $8.5M | +13.82% |
| Q1 2022 | 2022-03-31 | $57.6M | $4.6M | +8.70% |
| Q4 2021 | 2021-12-31 | $64.6M | $5.0M | +8.47% |
| Q3 2021 | 2021-09-30 | $63.2M | $4.4M | +7.44% |
| Q2 2021 | 2021-06-30 | $61.7M | $11.4M | +22.68% |
| Q1 2021 | 2021-03-31 | $53.0M | $15.0M | +39.40% |
| Q4 2020 | 2020-12-31 | $59.6M | $29.6M | +98.82% |
| Q3 2020 | 2020-09-30 | $58.8M | $34.6M | +142.97% |
| Q2 2020 | 2020-06-30 | $50.3M | $27.6M | +121.67% |
| Q1 2020 | 2020-03-31 | $38.0M | $19.9M | +109.75% |
| Q4 2019 | 2019-12-31 | $30.0M | $15.5M | +107.24% |
| Q3 2019 | 2019-09-30 | $24.2M | $12.9M | +113.49% |
| Q2 2019 | 2019-06-30 | $22.7M | $14.9M | +190.11% |
| Q1 2019 | 2019-03-31 | $18.1M | $11.1M | +156.32% |
| Q4 2018 | 2018-12-31 | $14.5M | $5.5M | +62.20% |
| Q3 2018 | 2018-09-30 | $11.3M | $2.7M | +31.21% |
| Q2 2018 | 2018-06-30 | $7.8M | −$613,000 | −7.26% |
| Q1 2018 | 2018-03-31 | $7.1M | $994,000 | +16.36% |
| Q4 2017 | 2017-12-31 | $8.9M | $1.2M | +14.91% |
| Q3 2017 | 2017-09-30 | $8.6M | −$5.5M | −38.71% |
| Q2 2017 | 2017-06-30 | $8.4M | $5.8M | +219.78% |
| Q1 2017 | 2017-03-31 | $6.1M | $5.3M | +723.17% |
| Q4 2016 | 2016-12-31 | $7.8M | −$2.6M | −25.29% |
| Q3 2016 | 2016-09-30 | $14.1M | $13.2M | +1501.20% |
| Q2 2016 | 2016-06-30 | $2.6M | −$16.9M | −86.47% |
| Q1 2016 | 2016-03-31 | $738,000 | −$19.6M | −96.37% |
| Q4 2015 | 2015-12-31 | $10.4M | −$9.5M | −47.82% |
| Q3 2015 | 2015-09-30 | $880,029 | −$18.6M | −95.48% |
| Q2 2015 | 2015-06-30 | $19.5M | −$2.2M | −10.12% |
| Q1 2015 | 2015-03-31 | $20.3M | −$2.6M | −11.24% |
| Q4 2014 | 2014-12-31 | $19.9M | −$3.5M | −15.14% |
| Q3 2014 | 2014-09-30 | $19.4M | −$2.3M | −10.76% |
| Q2 2014 | 2014-06-30 | $21.7M | −$362,000 | −1.64% |
| Q1 2014 | 2014-03-31 | $22.9M | $2.6M | +13.08% |
| Q4 2013 | 2013-12-31 | $23.4M | $5.7M | +32.43% |
| Q3 2013 | 2013-09-30 | $21.8M | $7.3M | +49.90% |
| Q2 2013 | 2013-06-30 | $22.1M | $7.9M | +56.10% |
| Q1 2013 | 2013-03-31 | $20.3M | $5.5M | +37.70% |
| Q4 2012 | 2012-12-31 | $17.7M | $4.0M | +29.58% |
| Q3 2012 | 2012-09-30 | $14.5M | $657,000 | +4.73% |
| Q2 2012 | 2012-06-30 | $14.1M | $771,000 | +5.77% |
| Q1 2012 | 2012-03-31 | $14.7M | $2.6M | +21.50% |
| Q4 2011 | 2011-12-31 | $13.7M | — | — |
| Q3 2011 | 2011-09-30 | $13.9M | $268,000 | +1.97% |
| Q2 2011 | 2011-06-30 | $13.4M | $959,000 | +7.73% |
| Q1 2011 | 2011-03-31 | $12.1M | — | — |
| Q3 2010 | 2010-09-30 | $13.6M | — | — |
| Q2 2010 | 2010-06-30 | $12.4M | — | — |
Madrigal Pharmaceuticals operating expenses trends
Over the last five fiscal years, Madrigal Pharmaceuticals's operating expenses increased from $206.7M to $1.26B, a change of $1.05B. The latest reported quarter, Q2 2026, shows $420.6M.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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