Valneva SE annual operating expenses
2019
2020
2021
2022
2023
2024
2025
Valneva SE Operating Expenses Growth & History (VLA)
Valneva SE's operating expenses was €149.6M for fiscal 2025.
View full Valneva SE company overviewValneva SE annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | €149.6M | €91.9M | +159.19% |
| 2024 | 2024-12-31 | €57.7M | −€77.2M | −57.23% |
| 2023 | 2023-12-31 | €134.9M | −€15.4M | −10.23% |
| 2022 | 2022-12-31 | €150.3M | −€71.3M | −32.16% |
| 2021 | 2021-12-31 | €221.6M | €110.4M | +99.35% |
| 2020 | 2020-12-31 | €111.1M | €36.9M | +49.73% |
| 2019 | 2019-12-31 | €74.2M | — | — |
Valneva SE quarterly operating expenses
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | €27.8M | −€7.3M | −20.83% |
| Q1 2026 | 2026-03-31 | €28.4M | −€3.7M | −11.60% |
| Q4 2025 | 2025-12-31 | €157.3M | €110.7M | +237.54% |
| Q3 2025 | 2025-09-30 | €42.6M | €10.0M | +30.75% |
| Q2 2025 | 2025-06-30 | €35.1M | −€1.1M | −2.92% |
| Q1 2025 | 2025-03-31 | €32.1M | — | — |
| Q4 2024 | 2024-12-31 | €46.6M | −€116.5M | −71.44% |
| Q3 2024 | 2024-09-30 | €32.6M | −€6.7M | −17.09% |
| Q2 2024 | 2024-06-30 | €36.1M | €10.9M | +43.01% |
| Q4 2023 | 2023-12-31 | €163.1M | −€219.5M | −57.37% |
| Q3 2023 | 2023-09-30 | €39.3M | €7.2M | +22.42% |
| Q2 2023 | 2023-06-30 | €25.3M | −€20.5M | −44.76% |
| Q1 2023 | 2023-03-31 | €29.6M | €3.2M | +12.09% |
| Q4 2022 | 2022-12-31 | €382.7M | €98.1M | +34.47% |
| Q3 2022 | 2022-09-30 | €32.1M | −€16.9M | −34.42% |
| Q2 2022 | 2022-06-30 | €45.7M | −€13.4M | −22.72% |
| Q1 2022 | 2022-03-31 | €26.4M | −€13.3M | −33.48% |
| Q4 2021 | 2021-12-31 | €284.6M | — | — |
| Q3 2021 | 2021-09-30 | €49.0M | — | — |
| Q2 2021 | 2021-06-30 | €59.2M | — | — |
| Q1 2021 | 2021-03-31 | €39.7M | — | — |
Valneva SE operating expenses trends
Over the last five fiscal years, Valneva SE's operating expenses increased from €111.1M to €149.6M, a change of €38.4M. The latest reported quarter, Q2 2026, shows €27.8M.
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.
Review Valneva SE source filings ↗