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

Vipshop Holdings' Operating Expenses history runs 16 years deep, the most recent figure standing at -$603.8 million for 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 was -$603.8 million for Q1 2026 at Vipshop Holdings, up from -$697.7 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of -$514.2 million in Q3 2022 to a low of -$697.7 million in Q4 2025.
• Historically, Operating Expenses has averaged -$604.1 million across 5 years, with a median of -$591.4 million in 2023.
• The sharpest annual moves came in 2022 and 2026: Operating Expenses gained 22.0% in 2022, then decreased 8.94% in 2026.
• A 5-year view of Operating Expenses shows it stood at -$673.9 million in 2022, then dropped by 1.77% to -$685.8 million in 2023, then declined by 1.19% to -$694.0 million in 2024, then slipped by 0.54% to -$697.7 million in 2025, then rose by 13.47% to -$603.8 million in 2026.
• The last three Operating Expenses figures came in at -$603.8 million (Q1 2026), -$697.7 million (Q4 2025), and -$554.2 million (Q3 2025), per Business Quant data.