In Q1'26, Palantir's (PLTR) operating expenses reached $662.8M USD, comprising $161.0M in R&D expenses and $501.8M in SG&A expenses, reflecting a 14.5% increase from Q4'25's $615.4M total and marking the highest quarterly figure in the observed period. From Q2'23 to Q1'26, total operating expenses exhibited steady growth with occasional volatility, rising from $416.3M to $662.8M USD, driven primarily by escalating SG&A costs that surged 58.4% over the period amid expansions in sales and administrative functions. R&D expenses followed a more moderate upward trajectory, increasing 61.7% from $99.5M, with a notable spike to $171.5M in Q4'24 before stabilizing around $135M-$161M in recent quarters; the Q4'24 inflection point across both categories suggests one-time investments or scaling efforts, underscoring PLTR's focus on operational expansion in a competitive tech landscape.