Qfin Holdings (QFIN) Operating Expenses (2016 - 2026)
Qfin Holdings' (QFIN) quarterly Operating Expenses came in at $354.5 million in Q2 2026, down 17.53% year-over-year from $429.9 million in Q2 2025, and down 16.55% quarter-over-quarter from $424.8 million in Q1 2026.
Analysis
Qfin Holdings (QFIN) Operating Expenses (2016 - 2026) Analysis & Trends
Qfin Holdings has disclosed Operating Expenses across 11 years of filings, most recently posting $354.5 million for Q2 2026.
- In Q2 2026, Operating Expenses fell 17.53% year-over-year to $354.5 million; the TTM figure through Jun 2026 stood at $1.7 billion (up 19.04% YoY), while the FY2025 annual figure was $1.8 billion, up 35.68% from the prior year.
- Operating Expenses came in at $354.5 million for Q2 2026 at Qfin Holdings, down from $424.8 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $492.4 million in Q3 2025 to a low of $296.5 million in Q3 2024.
- Average Operating Expenses over 5 years is $403.8 million, with a median of $408.1 million recorded in 2022.
- Year-over-year, Operating Expenses retreated 25.19% in 2024 and surged 66.06% in 2025.
- Over 5 years, Operating Expenses stood at $429.5 million in 2022, then advanced by 5.45% to $453.0 million in 2023, then slipped by 21.61% to $355.1 million in 2024, then rose by 29.89% to $461.2 million in 2025, then decreased by 23.13% to $354.5 million in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $354.5 million in Q2 2026, $424.8 million in Q1 2026, and $461.2 million in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Upstart Holdings | 2.43 Bn | 1.99 Bn | 303.39 Mn | 350.07 Mn |
| 2 | Pagaya Technologies | 1.70 Bn | 1.51 Bn | 168.33 Mn | 281.24 Mn |
| 3 | Qfin Holdings | 986.27 Mn | -9.51 Mn | - | 354.54 Mn |
| 4 | FinVolution | 836.54 Mn | -90.46 Mn | - | -423.57 Mn |
| 5 | X Financial | 386.17 Mn | -182.14 Mn | 84.09 Mn | 117.70 Mn |
| 6 | Open Lending | 371.20 Mn | 186.25 Mn | 15.64 Mn | 16.27 Mn |
| 7 | Blend Labs | 279.09 Mn | 234.22 Mn | 24.89 Mn | 26.46 Mn |
| 8 | LexinFintech Holdings | 251.25 Mn | 251.25 Mn | 73.06 Mn | -88.58 Mn |
| 9 | Jiayin | 76.25 Mn | 2.23 Mn | - | -144.96 Mn |
| 10 | Antalpha Platform Holding | 76.02 Mn | -813.69 Mn | 11.94 Mn | 37.28 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 354.54 Mn |
| Mar 31, 2026 | 424.83 Mn |
| Dec 31, 2025 | 461.22 Mn |
| Sep 30, 2025 | 492.44 Mn |
| Jun 30, 2025 | 429.91 Mn |
| Mar 31, 2025 | 374.27 Mn |
| Dec 31, 2024 | 355.09 Mn |
| Sep 30, 2024 | 296.54 Mn |
| Jun 30, 2024 | 299.30 Mn |
| Mar 31, 2024 | 386.28 Mn |
| Dec 31, 2023 | 452.96 Mn |
| Sep 30, 2023 | 396.40 Mn |
| Jun 30, 2023 | 376.87 Mn |
| Mar 31, 2023 | 377.45 Mn |
| Dec 31, 2022 | 429.55 Mn |
| Sep 30, 2022 | 419.75 Mn |
| Jun 30, 2022 | 473.63 Mn |
| Mar 31, 2022 | 467.05 Mn |
| Dec 31, 2021 | 461.43 Mn |
| Sep 30, 2021 | 422.00 Mn |