As of Q4'25, NET's operating expenses reached their highest levels in the observed period, with R&D Expenses at USD 142M and SG&A Expenses at USD 360M. This marks a significant increase from the previous quarter, continuing the upward trajectory in both categories. From Q1'23 to Q4'25, both R&D and SG&A expenses have shown a consistent growth trend, with SG&A Expenses remaining the dominant component throughout. Notable inflection points include a sharp rise in SG&A Expenses starting Q1'24 and a pronounced increase in R&D Expenses from Q2'25 onward. Overall, the data reflects a steady escalation in operating costs over the nearly three-year period.