Sunlands Technology (STG) Operating Expenses (2017 - 2025)
Sunlands Technology (STG) posted quarterly Operating Expenses of -$43.3 million for Q4 2025, up 11.45% year-over-year from -$38.9 million in Q4 2024, and up 4.95% quarter-over-quarter from -$45.6 million in Q3 2025.
Sunlands Technology (STG) Operating Expenses (2017 - 2025) Analysis & Trends
Sunlands Technology's Operating Expenses history runs 9 years deep, the most recent figure standing at -$43.3 million for Q4 2025.
- In Q4 2025, Operating Expenses rose 11.45% year-over-year to -$43.3 million; the TTM figure through Dec 2025 stood at -$136.7 million (up 28.7% YoY), while the FY2025 annual figure was $197.2 million, up 4.7% from the prior year.
- Operating Expenses for Q4 2025 stood at -$43.3 million, up from -$45.6 million in the prior quarter.
- The five-year high for Operating Expenses was -$43.3 million in Q4 2025, with the low at -$101.8 million in Q1 2021.
- The 5-year median for Operating Expenses is -$48.7 million (2022), against an average of -$54.6 million.
- The sharpest annual moves came in 2021 and 2022: Operating Expenses dropped 26.9% in 2021, then soared 46.39% in 2022.
- Sunlands Technology's Operating Expenses stood at -$62.8 million in 2021, then advanced by 22.5% to -$48.7 million in 2022, then dropped by 20.51% to -$58.7 million in 2023, then climbed by 16.69% to -$48.9 million in 2024, then advanced by 11.45% to -$43.3 million in 2025.
- Business Quant data shows STG's Operating Expenses at -$43.3 million in Q4 2025, -$45.6 million in Q3 2025, and -$47.8 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | New Oriental Education & Technology | 84.71 Bn | 82.71 Bn | 812.22 Mn | 1.44 Bn |
| 2 | 51Talk Online Education | 7.32 Bn | 7.28 Bn | 22.97 Mn | -24.40 Mn |
| 3 | Laureate Education | 5.21 Bn | 5.05 Bn | 237.67 Mn | 14.24 Mn |
| 4 | Graham Holdings | 4.98 Bn | 3.74 Bn | 777.03 Mn | 1.22 Bn |
| 5 | Covista | 4.66 Bn | 4.66 Bn | 284.63 Mn | 405.94 Mn |
| 6 | Grand Canyon Education | 3.78 Bn | 3.50 Bn | 204.08 Mn | 205.89 Mn |
| 7 | Stride | 3.50 Bn | 2.55 Bn | 217.28 Mn | 111.43 Mn |
| 8 | McGraw Hill | 2.38 Bn | 2.13 Bn | 388.89 Mn | 395.25 Mn |
| 9 | TAL Education | 2.28 Bn | -401.26 Mn | 227.32 Mn | 243.19 Mn |
| 10 | Sunlands Technology | 22.36 Mn | -58.95 Mn | 58.35 Mn | -43.31 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -43.31 Mn |
| Sep 30, 2025 | -45.56 Mn |
| Jun 30, 2025 | -47.83 Mn |
| Dec 31, 2024 | -48.91 Mn |
| Sep 30, 2024 | -48.93 Mn |
| Jun 30, 2024 | -46.64 Mn |
| Mar 31, 2024 | -47.25 Mn |
| Dec 31, 2023 | -58.70 Mn |
| Sep 30, 2023 | -46.39 Mn |
| Jun 30, 2023 | -44.41 Mn |
| Mar 31, 2023 | -46.70 Mn |
| Dec 31, 2022 | -48.71 Mn |
| Sep 30, 2022 | -45.69 Mn |
| Jun 30, 2022 | -52.43 Mn |
| Mar 31, 2022 | -54.55 Mn |
| Dec 31, 2021 | -62.85 Mn |
| Sep 30, 2021 | -66.84 Mn |
| Jun 30, 2021 | -80.47 Mn |
| Mar 31, 2021 | -101.75 Mn |
| Dec 31, 2020 | -103.25 Mn |