RLX Technology (RLX) Operating Expenses (2019 - 2026)
RLX Technology's (RLX) quarterly Operating Expenses came in at -$37.6 million in Q1 2026, down 77.92% YoY from -$170.5 million in Q1 2025, and down 10.08% on a QoQ basis from -$34.2 million in Q4 2025.
RLX Technology (RLX) Operating Expenses (2019 - 2026) Analysis & Trends
RLX Technology (RLX) has 8 years of Operating Expenses data on file, last reported at -$37.6 million in Q1 2026.
- Quarterly Operating Expenses fell 77.92% year-over-year to -$37.6 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was -$136.6 million (down 24.14% YoY) and the FY2025 annual result came in at $122.3 million, up 7.06% from the prior year.
- Operating Expenses retreated to -$37.6 million in Q1 2026, from -$34.2 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of -$5.3 million in Q1 2022 to a low of -$90.0 million in Q4 2022.
- A 5-year average of -$34.2 million and a median of -$30.9 million in 2024 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2022 — Operating Expenses soared 97.15% — and 2023, when it sank 1052.54%.
- Tracing RLX's Operating Expenses over 5 years: stood at -$90.0 million in 2022, then surged by 58.68% to -$37.2 million in 2023, then climbed by 14.7% to -$31.7 million in 2024, then fell by 7.83% to -$34.2 million in 2025, then fell by 10.08% to -$37.6 million in 2026.
- The last three Operating Expenses figures came in at -$37.6 million (Q1 2026), -$34.2 million (Q4 2025), and -$36.4 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 298.83 Bn | 292.83 Bn | 7.66 Bn | - |
| 2 | British American Tobacco p.l.c | 122.98 Bn | 119.29 Bn | - | - |
| 3 | Altria | 111.97 Bn | 109.61 Bn | 3.82 Bn | 21.00 Mn |
| 4 | RLX Technology | 2.22 Bn | 1.48 Bn | 52.74 Mn | -33.52 Mn |
| 5 | Turning Point Brands | 1.73 Bn | 1.46 Bn | 93.70 Mn | 76.99 Mn |
| 6 | Universal | 1.15 Bn | 869.50 Mn | 83.09 Mn | 80.79 Mn |
| 7 | Ispire Technology | 87.09 Mn | 67.86 Mn | 1.99 Mn | 11.47 Mn |
| 8 | Rythm | 45.53 Mn | 3.62 Mn | 18.54 Mn | 16.60 Mn |
| 9 | Greenlane Holdings | 14.10 Mn | -10.40 Mn | 32,000.00 | 3.63 Mn |
| 10 | VPR Brands | 9.14 Mn | 6.80 Mn | 161,075.00 | 493,617.00 |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -37.64 Mn |
| Dec 31, 2025 | -34.19 Mn |
| Sep 30, 2025 | -36.42 Mn |
| Jun 30, 2025 | -28.36 Mn |
| Mar 31, 2025 | -21.15 Mn |
| Dec 31, 2024 | -31.71 Mn |
| Sep 30, 2024 | -30.87 Mn |
| Jun 30, 2024 | -26.31 Mn |
| Mar 31, 2024 | -26.92 Mn |
| Dec 31, 2023 | -37.17 Mn |
| Sep 30, 2023 | -19.87 Mn |
| Jun 30, 2023 | -6.51 Mn |
| Mar 31, 2023 | -61.00 Mn |
| Dec 31, 2022 | -89.96 Mn |
| Sep 30, 2022 | -7.98 Mn |
| Jun 30, 2022 | -79.27 Mn |
| Mar 31, 2022 | -5.29 Mn |
| Dec 31, 2021 | -36.33 Mn |
| Sep 30, 2021 | 37.45 Mn |
| Jun 30, 2021 | -25.89 Mn |