Seritage Growth Properties (SRG) Operating Expenses (2016 - 2026)

Over the twelve months ended Jun 30, 2026, Seritage Growth Properties' Operating Expenses came in at $35.02 million, down 49.9% year-over-year; for FY2025, it came in at $54.67 million, down 20.9% from FY2024.

• Operating Expenses has declined for three consecutive years, with a five-year compound annual growth rate of -23.1% (FY2020 to FY2025).
• By year, Operating Expenses came in at $69.15 million in FY2024 (-21.3%), $87.87 million in FY2023 (-53.8%), $190 million in FY2022 (+9.6%) and $173.41 million in FY2021 (-14.5%).
• The Q2 2026 figure ranks as the lowest quarterly Operating Expenses in data going back to Q1 2016.
• Year over year, Operating Expenses has now declined in each of the last five quarters, with an average decline of 24.3% over the last eight quarters.
• The high point for year-over-year Operating Expenses in five years was Q2 2022 (growth of 62.0%); the low point was Q2 2023 (a decline of 70.8%).
• Per Business Quant data, the three quarters before Q2 2026 came in at $7.49 million (Q1 2026), $10.05 million (Q4 2025) and $10.85 million (Q3 2025).