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PATH Operating Expenses

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In the latest fiscal period of Q1'27, total operating expenses reached $313.47M, consisting of $220.57M in SG&A expenses and $92.9M in R&D expenses. This represents a slight sequential decrease from the Q4'26 total of $326.89M. From Q2'24 to Q1'27, SG&A expenses consistently remained the primary cost driver, peaking at $257.85M in Q2'25 before entering a more stabilized range. R&D spending showed a gradual upward trend from $86.61M in Q2'24 to a peak of $99.67M in Q4'25, subsequently leveling off as the company managed its overall expense structure.