AXREFAXREFOTC
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Operating Expenses Over TimeContracting
Percentile Rank36
3Y CAGR-3.1%
5Y CAGR+17.2%
Studio
Year-over-Year Change

Expenses from normal business operations (SG&A, R&D, etc.)

3Y CAGR
-3.1%/yr
vs -7.6%/yr prior
5Y CAGR
+17.2%/yr
Recent deceleration
Acceleration
+4.5pp
Accelerating
Percentile
P36
Within normal range
vs 5Y Ago
2.2x
Strong expansion
Streak
2 yr
Consecutive declineContracting
PeriodValueYoY Change
2025$5.60M-59.0%
2024$13.65M-13.9%
2023$15.87M+158.0%
2022$6.15M+200.9%
2021$2.04M-19.4%
2020$2.54M-58.8%
2019$6.15M-27.1%
2018$8.44M+98.1%
2017$4.26M+5.2%
2016$4.05M-