Deluxe (DLX) Operating Expenses (2009 - 2026)

On a trailing twelve-month basis, Deluxe's Operating Expenses was $857.75 million through Jun 30, 2026, down 6.4% year-over-year; for FY2025, it was $892.6 million, down 6.8% from FY2024.

• Operating Expenses has now declined for three consecutive years, with a five-year compound annual growth rate of -0.5% (FY2020 to FY2025).
• In earlier years, Operating Expenses was $957.8 million in FY2024 (-7.4%), $1.03 billion in FY2023 (-2.0%), $1.06 billion in FY2022 (+6.0%) and $995.77 million in FY2021 (+8.7%).
• The Q2 2026 figure marks the lowest quarterly Operating Expenses since Q3 2016.
• Compared with a year earlier, Operating Expenses has declined for 12 straight quarters, with an average decline of 7.2% over the last eight quarters.
• The best year-over-year quarter for Operating Expenses over five years was Q1 2022 (growth of 21.7%); the worst was Q2 2025 (a decline of 10.8%).
• Per Business Quant data, DLX's Operating Expenses in the three quarters before Q2 2026 was $212.7 million (Q1 2026), $225.87 million (Q4 2025) and $215.27 million (Q3 2025).