As of Q4'25, Airbnb's latest reported operating expenses show R&D Expenses at USD 589M and SG&A Expenses at USD 1.106B. Both categories have increased compared to the previous quarter, with R&D rising from USD 587M and SG&A from USD 969M in Q3'25. From Q1'23 to Q4'25, the chart reveals a general upward trend in both R&D and SG&A Expenses, with SG&A consistently representing the larger portion of total operating expenses. Notably, there was a sharp spike in SG&A Expenses to USD 1.627B in Q4'23, followed by a normalization in subsequent quarters. Overall, the data indicates steady growth in operating expenses, reflecting ongoing investments in research, development, and administrative functions over the observed period.