As of Q4'25, CMG reported SG&A Expenses of USD 160M, while R&D Expenses remained at USD 0. This latest data point continues the trend of zero R&D spending and highlights a moderate level of SG&A outlay for the quarter. From Q1'23 to Q4'25, SG&A Expenses for CMG have shown moderate fluctuations, peaking at USD 205M in Q1'24 and reaching a low of USD 127M in Q3'24. The absence of R&D Expenses throughout the entire period indicates a consistent allocation strategy, with operating expenses primarily driven by SG&A. Overall, the trend reflects stable but variable SG&A spending, with no investment in R&D over the observed quarters.