As of Q2'26 (2026-01-24), Cisco's latest reported operating expenses show R&D Expenses at USD 2.36B and SG&A Expenses at USD 3.57B. Both categories have reached their highest levels in the period, with total operating expenses combining to approximately USD 5.93B. From Q3'23 to Q2'26, the chart illustrates a generally upward trend in both R&D and SG&A expenses. After a period of relative stability, there is a noticeable increase starting in Q4'24, with both expense categories rising steadily through to Q2'26. This suggests a strategic ramp-up in investment and operational spending, with SG&A consistently representing the larger portion of total operating expenses throughout the timeframe.