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NFLX Operating Expenses

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In Q1'26, Netflix's total operating expenses reached $2.40B USD, comprising $960M USD in R&D expenses and $1.44B USD in SG&A expenses, marking a notable increase from the previous quarter and reflecting continued investment in growth areas. Over the period from Q2'23 to Q1'26, operating expenses exhibited a consistent upward trend, rising from $1.69B USD to $2.40B USD, driven primarily by steady growth in both R&D (from $658M USD to $960M USD) and SG&A (from $1.03B USD to $1.44B USD), with occasional spikes in Q4 periods likely tied to seasonal or annual adjustments. This pattern indicates expanding operational scale, though SG&A showed greater volatility, peaking at $1.68B USD in Q4'25, while R&D maintained more linear progression, underscoring Netflix's focus on innovation amid rising costs.