Vipshop Holdings Ltd (VIPS) Operating Expenses (2011 - 2026)

Vipshop Holdings (VIPS) has reported Operating Expenses for 16 consecutive years, with -$603.8 million the latest figure, recorded in Q1 2026.

• In Q1 2026, Operating Expenses fell 8.94% year-over-year to -$603.8 million; the TTM figure through Mar 2026 stood at -$2.5 billion (down 4.93% YoY), while the FY2025 annual figure was $2.5 billion, up 5.58% from the prior year.
• Operating Expenses came in at -$603.8 million for Q1 2026 at Vipshop Holdings, up from -$697.7 million in the prior quarter.
• The five-year high for Operating Expenses was -$514.2 million in Q3 2022, with the low at -$697.7 million in Q4 2025.
• Average Operating Expenses over 5 years is -$604.1 million, with a median of -$591.4 million recorded in 2023.
• Across the five-year window, Operating Expenses grew 22.0% in 2022 and declined 8.94% in 2026, its largest moves.
• Year by year, Operating Expenses stood at -$673.9 million in 2022, then retreated by 1.77% to -$685.8 million in 2023, then decreased by 1.19% to -$694.0 million in 2024, then fell by 0.54% to -$697.7 million in 2025, then climbed by 13.47% to -$603.8 million in 2026.
• According to Business Quant data, Operating Expenses over the past three periods registered -$603.8 million, -$697.7 million, and -$554.2 million for Q1 2026, Q4 2025, and Q3 2025 respectively.