In Q1'26, VRT's operating expenses totaled $456.7M USD, entirely attributable to SG&A expenses as R&D expenses remained at no data across all periods. This marks a slight quarterly decline of 1.1% from Q4'25's $461.6M USD, reflecting stable but marginally reduced administrative costs in the latest fiscal quarter. Over the period from Q2'23 to Q1'26, SG&A expenses exhibited an overall upward trend, rising from $327.6M USD to $456.7M USD with a compound annual growth rate of approximately 18%, driven by notable increases in Q2'25 ($395.6M USD) and Q3'25 ($414.3M USD) amid business expansion. R&D expenses showed no data throughout, indicating a potential focus on operational efficiency rather than research investment; the stacked bar chart highlights SG&A as the dominant component, with volatility evident in quarterly fluctuations such as the dip to $314M USD in Q1'24 before resuming growth.