In Q1'26, PayPal's operating expenses totaled approximately 1.80B USD, with R&D expenses at 793M USD and SG&A expenses at 1.01B USD, reflecting a slight quarterly decline from Q4'25's 2.00B USD total. Over the period from Q2'23 to Q1'26, total operating expenses exhibited moderate volatility with an overall upward trend, rising from 1.70B USD to 1.80B USD, driven primarily by SG&A expenses which increased from 956M USD to 1.01B USD amid peaks in Q4'24 (1.22B USD) and Q4'25 (1.19B USD). R&D expenses remained relatively stable, fluctuating between 718M USD and 804M USD with no clear directional bias, while the stacked bar chart highlights SG&A as the dominant component, consistently comprising over 55% of the total. Notable inflection points include a dip in Q1'24 (total 1.63B USD) followed by recovery and growth through 2025.