As of Q4'25, SPOT reported R&D Expenses of $290M and SG&A Expenses of $508M. This marks the lowest R&D spending in the observed period, while SG&A remains relatively high compared to earlier quarters. From Q1'23 to Q4'25, both R&D and SG&A Expenses exhibited notable fluctuations. R&D peaked at $468M in Q4'23 before trending downward, with a particularly sharp decline in the last three quarters. SG&A Expenses also saw highs in Q4'23 ($587M) and Q4'24 ($515M), but overall remained more stable, fluctuating between $438M and $587M. The data suggests a strategic reduction in R&D investment over time, while SG&A costs have been managed within a narrower range.