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Netflix (NFLX) Operating Expenses (2016 - 2025)

Netflix has reported Operating Expenses over the past 17 years, most recently at $1.5 billion for Q4 2025.

  • Quarterly results put Operating Expenses at $1.5 billion for Q4 2025, up 18.53% from a year ago — trailing twelve months through Dec 2025 was $5.3 billion (up 14.1% YoY), and the annual figure for FY2025 was $5.3 billion, up 14.1%.
  • Operating Expenses for Q4 2025 was $1.5 billion at Netflix, up from $1.3 billion in the prior quarter.
  • Over the last five years, Operating Expenses for NFLX hit a ceiling of $1.5 billion in Q4 2025 and a floor of $822.4 million in Q1 2021.
  • Median Operating Expenses over the past 5 years was $1.1 billion (2023), compared with a mean of $1.1 billion.
  • Biggest five-year swings in Operating Expenses: surged 37.09% in 2021 and later dropped 5.92% in 2023.
  • Netflix's Operating Expenses stood at $1.0 billion in 2021, then rose by 2.02% to $1.1 billion in 2022, then rose by 4.34% to $1.1 billion in 2023, then increased by 10.57% to $1.2 billion in 2024, then grew by 18.53% to $1.5 billion in 2025.
  • The last three reported values for Operating Expenses were $1.5 billion (Q4 2025), $1.3 billion (Q3 2025), and $1.3 billion (Q2 2025) per Business Quant data.