In Q1'27, Veev reported total operating expenses of $386.6M, with R&D Expenses reaching $208.3M and SG&A Expenses at $178.3M, marking the highest quarterly spend across the observed period. From Q2'24 to Q1'27, total operating expenses grew steadily from $317.2M to $386.6M, driven primarily by consistent increases in R&D Expenses which rose 32% over the timeframe, while SG&A Expenses showed more volatility with a notable spike to $205.2M in Q2'26 before moderating.