In Q4'25, APP's operating expenses totaled approximately 199M USD, with R&D expenses at 82M USD and SG&A expenses at 117M USD, reflecting a moderate quarter-over-quarter increase from Q3'25's 151M USD total. From Q1'23 to Q4'25, overall operating expenses exhibited volatility with an initial upward trend, peaking at 439M USD in Q4'24 driven by rising SG&A costs to 275M USD, followed by a sharp decline to 167M USD in Q2'25 amid reductions in both R&D (down to 44M USD) and SG&A (101M USD), before stabilizing around 180-200M USD in the latter half of 2025; this pattern suggests cost optimization efforts post-2024 peak, with SG&A consistently dominating at 60-70% of the total throughout the period.