In Q1'26, NET's operating expenses reached $517.6M USD, with SG&A expenses at $366.6M USD forming the largest portion and R&D expenses at $151.0M USD, reflecting continued investment in administrative and innovation areas amid overall cost pressures. From Q2'23 to Q1'26, total operating expenses exhibited a strong upward trend, growing from $289.4M USD to $517.6M USD, driven primarily by SG&A expenses which more than doubled from $199.8M USD to $366.6M USD, while R&D expenses rose from $89.6M USD to $151.0M USD with some quarterly fluctuations, such as a dip in Q1'24. This stacked bar chart highlights consistent expansion in both categories, with notable acceleration in 2025, underscoring scaling operations but potential margin challenges for financial analysts to monitor.