TH International (THCH) Operating Expenses (2021 - 2026)

TH International (THCH) has reported Operating Expenses for 6 consecutive years, with $31.6 million the latest figure, recorded in Q1 2026.

• In Q1 2026, Operating Expenses fell 10.82% year-over-year to $31.6 million; the TTM figure through Mar 2026 stood at $147.5 million (down 8.62% YoY), while the FY2025 annual figure was $152.7 million, down 6.38% from the prior year.
• Operating Expenses declined to $31.6 million in Q1 2026 per THCH's latest filing, from $36.8 million in the prior quarter.
• Across five years, Operating Expenses topped out at $54.9 million in Q3 2023 and bottomed at $31.6 million in Q1 2026.
• Historically, Operating Expenses has averaged $42.8 million across 5 years, with a median of $42.6 million in 2022.
• Annual changes were most pronounced in 2023 — Operating Expenses surged 41.99% — and 2024, when it retreated 24.65%.
• TH International's Operating Expenses stood at $45.0 million in 2022, then grew by 14.6% to $51.6 million in 2023, then dropped by 24.65% to $38.9 million in 2024, then dropped by 5.41% to $36.8 million in 2025, then fell by 14.09% to $31.6 million in 2026.
• Business Quant data shows THCH's Operating Expenses at $31.6 million in Q1 2026, $36.8 million in Q4 2025, and $39.7 million in Q3 2025.