As of Q4'25, Palantir's latest operating expenses show R&D Expenses at USD 144.2M and SG&A Expenses at USD 471.9M. Both categories have increased compared to the previous quarter, with SG&A Expenses remaining the dominant component of total operating costs. From Q1'23 to Q4'25, the chart reveals a gradual upward trend in both R&D and SG&A Expenses, punctuated by significant spikes in Q4'24 for both categories (R&D: USD 171.5M, SG&A: USD 470.4M). After this peak, R&D Expenses moderate but remain above earlier levels, while SG&A Expenses continue to climb, reaching a new high in Q4'25. Overall, the data highlights sustained growth in operating expenses over the observed period, with SG&A consistently comprising the largest share.