As of Q3'25, SE reported R&D Expenses of USD 286.3M and SG&A Expenses of USD 1.49B, marking the latest data points in the time series. This reflects a slight decrease in R&D spending and a notable increase in SG&A costs compared to the previous quarter. From Q4'22 to Q3'25, R&D Expenses have remained relatively stable, fluctuating between USD 244.2M and USD 320.5M, with minor ups and downs but no significant long-term growth or decline. In contrast, SG&A Expenses have shown a clear upward trend, rising from USD 487.4M in Q4'22 to USD 1.49B in Q3'25, with particularly sharp increases observed from Q2'23 onwards. This indicates that while R&D investment has been steady, the company’s operating cost structure is increasingly dominated by SG&A expenditures.