NAUT · 10-Q · 2026Q1 · Full report
Operating Expense Trends
Nautilus Biotechnology, Inc. · 2026-04-28 · Importance 54 · Surprise 40
Total operating expenses decreased 14% year-over-year, driven by declines in both research and development and selling, general and administrative expenses. R&D expense was $9.7 million for the three months ended March 31, 2026 versus $11.5 million a year earlier, a 16% decrease primarily from lower salaries and benefits following a 2025 workforce reduction. SG&A expenses declined 12% to $6.4 million, driven largely by a $0.6 million decrease in stock-based compensation and reduced salaries and benefits. Management expects R&D and SG&A to increase in absolute terms in future periods as product development and commercialization activities scale.
Key facts
- Nautilus expects its expenses and capital requirements will increase substantially in connection with continuing research and development, establishing service laboratory operations, building sales/marketing/distribution capabilities, setup costs for production tooling and testing, protecting intellectual property, implementing operational systems, and hiring personnel.
- Total operating expenses were $16,124,000 for the three months ended March 31, 2026, compared to $18,844,000 for the three months ended March 31, 2025, a decrease of $2,720,000 or 14%.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | probable | — | Nautilus expects its expenses and capital requirements will increase substantially in connection with continuing research and development,… |
| cash | negative | probable | — | Nautilus expects its expenses and capital requirements will increase substantially in connection with continuing research and development,… |
| operating_income | positive | realized | — | Total operating expenses were $16,124,000 for the three months ended March 31, 2026, compared to $18,844,000 for the three months ended… |