As of Q3'26 (2025-10-31), CRWD reported R&D Expenses of $347.56M and SG&A Expenses of $648.32M, marking the highest levels for both categories within the observed period. This indicates a continued increase in operating expenses, with SG&A consistently representing the larger portion of total costs. From Q4'23 (2023-01-31) to Q3'26 (2025-10-31), both R&D and SG&A expenses have shown a steady upward trend. R&D Expenses grew from $191.85M to $347.56M, while SG&A Expenses rose from $331.42M to $648.32M, reflecting significant investment in both research and operational activities. Notably, the most pronounced increases occurred between Q4'24 and Q3'25, suggesting an acceleration in spending during this period.