Vnet (VNET) Operating Expenses (2010 - 2025)

Vnet has disclosed Operating Expenses across 16 years of filings, most recently posting -$55.4 million for Q4 2025.

• Operating Expenses for Q4 2025 came in at -$55.4 million, down 50.95% year-over-year; the trailing twelve-month figure through Dec 2025 was -$198.2 million (down 22.61% YoY), and the FY2025 annual result was $201.9 million, up 26.77% from the prior year.
• Operating Expenses came in at -$55.4 million for Q4 2025 at Vnet, down from -$46.8 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of -$31.7 million in Q2 2024 to a low of -$352.5 million in Q4 2023.
• The 5-year median for Operating Expenses is -$43.2 million (2022), against an average of -$61.1 million.
• Across the five-year window, Operating Expenses plunged 603.11% in 2023 and surged 89.59% in 2024, its largest moves.
• Vnet's Operating Expenses stood at -$102.0 million in 2021, then surged by 50.83% to -$50.1 million in 2022, then slumped by 603.11% to -$352.5 million in 2023, then soared by 89.59% to -$36.7 million in 2024, then tumbled by 50.95% to -$55.4 million in 2025.
• The last three Operating Expenses figures came in at -$55.4 million (Q4 2025), -$46.8 million (Q3 2025), and -$52.3 million (Q2 2025), per Business Quant data.