Nelnet (NNI) Operating Expenses (2010 - 2026)

Nelnet has disclosed Operating Expenses across 17 years of filings, most recently posting $234.0 million for Q1 2026.

• In Q1 2026, Operating Expenses rose 7.33% year-over-year to $234.0 million; the TTM figure through Mar 2026 stood at $943.2 million (up 6.76% YoY), while the FY2025 annual figure was $927.1 million, up 5.0% from the prior year.
• Operating Expenses declined to $234.0 million in Q1 2026, from $264.1 million in the prior quarter.
• Over the last five years, Operating Expenses for NNI reached as high as $264.1 million in Q4 2025 and fell as low as $196.6 million in Q2 2022.
• The 5-year median for Operating Expenses is $218.0 million (2025), against an average of $221.8 million.
• Annual changes were most pronounced in 2022 — Operating Expenses grew 19.22% — and 2024, when it dropped 11.13%.
• A 5-year view of Operating Expenses shows it stood at $222.1 million in 2022, then rose by 16.38% to $258.5 million in 2023, then retreated by 11.13% to $229.8 million in 2024, then advanced by 14.96% to $264.1 million in 2025, then retreated by 11.42% to $234.0 million in 2026.
• According to Business Quant data, Operating Expenses over the past three periods registered $234.0 million, $264.1 million, and $225.7 million for Q1 2026, Q4 2025, and Q3 2025 respectively.