As of Q4'25, FTNT's latest operating expenses show R&D Expenses at USD 205M and SG&A Expenses at USD 687M. This marks the highest quarterly values for both categories within the period from Q1'23 to Q4'25. Over the observed period, both R&D and SG&A expenses have demonstrated a consistent upward trend, with SG&A Expenses remaining the dominant component. R&D Expenses increased from USD 151M in Q1'23 to USD 205M in Q4'25, while SG&A Expenses rose from USD 531M to USD 687M. Notable inflection points include a sharp rise in both categories starting in Q1'25, indicating accelerated investment in operations and growth initiatives.