In Q4'25, RKLB's total operating expenses reached $119.3M USD, with R&D expenses at $78.8M USD and SG&A expenses at $40.5M USD, marking the highest quarterly figure in the observed period and reflecting continued investment in development activities. From Q1'23 to Q4'25, operating expenses exhibited a steady upward trend, growing from $52.4M USD to $119.3M USD, driven primarily by R&D expenses which surged from $23.9M USD to $78.8M USD—a more than threefold increase—while SG&A expenses rose more modestly from $28.5M USD to $40.5M USD with some fluctuations, such as a dip in Q4'23. This pattern indicates escalating costs associated with R&D scaling, potentially tied to innovation in the aerospace sector, with no significant declines observed across the 12-quarter span.