Netflix (NFLX) Operating Expenses (2009 - 2026)

Netflix's Operating Expenses history runs 18 years deep, the most recent figure standing at $1.6 billion for Q1 2026.

• In Q1 2026, Operating Expenses rose 25.56% year-over-year to $1.6 billion; the TTM figure through Mar 2026 stood at $5.6 billion (up 17.47% YoY), while the FY2025 annual figure was $5.3 billion, up 14.1% from the prior year.
• Operating Expenses was $1.6 billion for Q1 2026 at Netflix, up from $1.5 billion in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $1.6 billion in Q1 2026 to a low of $1.0 billion in Q3 2022.
• Historically, Operating Expenses has averaged $1.2 billion across 5 years, with a median of $1.1 billion in 2023.
• The sharpest annual moves came in 2022 and 2023: Operating Expenses increased 29.12% in 2022, then decreased 5.92% in 2023.
• A 5-year view of Operating Expenses shows it stood at $1.1 billion in 2022, then increased by 4.34% to $1.1 billion in 2023, then grew by 10.57% to $1.2 billion in 2024, then rose by 18.53% to $1.5 billion in 2025, then advanced by 7.15% to $1.6 billion in 2026.
• The last three Operating Expenses figures came in at $1.6 billion (Q1 2026), $1.5 billion (Q4 2025), and $1.3 billion (Q3 2025), per Business Quant data.