As of Q3'25, ACHR's latest operating expenses show R&D Expenses at $121M and SG&A Expenses at $54M. This marks a continued increase in both categories, with R&D Expenses reaching their highest level in the period and SG&A Expenses also rising compared to previous quarters. From Q4'22 to Q3'25, the chart reveals a strong upward trend in R&D Expenses, which have more than doubled from $59M to $121M, indicating increased investment in research and development. SG&A Expenses, while more volatile—with a notable spike to $118M in Q2'23 and a sharp drop to -$22M in Q3'23—have generally trended upward in recent quarters, stabilizing above $40M since Q1'25. Overall, the data highlights ACHR's growing commitment to operational spending, particularly in R&D, over the observed period.