As of Q3'25, OKLO's latest reported operating expenses show R&D Expenses at USD 14.95M and SG&A Expenses at USD 21.36M, marking the highest levels observed in the provided period. This reflects a significant increase compared to previous quarters, with both expense categories reaching new peaks. From Q4'22 to Q3'25, the chart reveals a pronounced upward trend in both R&D and SG&A expenses. R&D spending was negligible through 2023 but began to rise sharply from Q4'23 onward, while SG&A expenses exhibited steady growth with notable acceleration starting in 2024. The escalation in both categories, particularly in the last three quarters, suggests intensified investment and operational scaling, with total operating expenses more than doubling over the last year.