As of Q4'25, SOFI's operating expenses reached their highest levels in the observed period, with R&D Expenses at USD 173M and SG&A Expenses at USD 500M. Both categories have shown steady increases, with the latest quarter marking a significant rise compared to previous quarters. From Q1'23 to Q4'25, the chart reveals a consistent upward trend in both R&D and SG&A expenses. R&D Expenses grew from USD 117M to USD 173M, while SG&A Expenses increased more sharply from USD 299M to USD 500M. The most notable acceleration in expense growth occurred after Q2'24, particularly in SG&A, indicating increased investment in operational and administrative functions over the last year of the period.