As of Q3'26 (2025-12-31), ARM's latest operating expenses show R&D Expenses at USD 737M and SG&A Expenses at USD 284M. This marks the highest R&D spending in the observed period, while SG&A also sees a notable increase compared to previous quarters. From Q4'23 to Q3'26, both R&D and SG&A expenses have generally trended upward, with R&D showing more pronounced growth and volatility. R&D Expenses jumped significantly in Q2'24 and again from Q1'26 onward, indicating increased investment in research and development. SG&A Expenses, while more stable, also exhibit a gradual rise, particularly in the last two quarters. Overall, the data reflects ARM's escalating commitment to R&D, with operating expenses reaching new highs by the end of the period.