Vnet (VNET) Operating Expenses (2010 - 2026)
Vnet's (VNET) quarterly Operating Expenses came in at -$40.7 million in Q2 2026, up 22.25% year-over-year from -$33.3 million in Q2 2025, and up 23.96% quarter-over-quarter from -$53.5 million in Q1 2026.
Analysis
Vnet (VNET) Operating Expenses (2010 - 2026) Analysis & Trends
Vnet has disclosed Operating Expenses across 17 years of filings, most recently posting -$40.7 million for Q2 2026.
- In Q2 2026, Operating Expenses rose 22.25% year-over-year to -$40.7 million; the TTM figure through Jun 2026 stood at -$196.4 million (down 11.92% YoY), while the FY2025 annual figure was -$201.9 million, down 26.77% from the prior year.
- Operating Expenses came in at -$40.7 million for Q2 2026 at Vnet, up from -$53.5 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.
- Average Operating Expenses over 5 years is -$60.9 million, with a median of -$43.6 million recorded in 2022.
- Year-over-year, Operating Expenses tumbled 603.11% in 2023 and soared 89.59% in 2024.
- Over 5 years, Operating Expenses stood at -$50.1 million in 2022, then plunged by 603.11% to -$352.5 million in 2023, then soared by 89.59% to -$36.7 million in 2024, then sank by 50.95% to -$55.4 million in 2025, then grew by 26.59% to -$40.7 million in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were -$40.7 million in Q2 2026, -$53.5 million in Q1 2026, and -$55.4 million in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Equinix | 102.92 Bn | 100.69 Bn | 1.40 Bn | 1.96 Bn |
| 2 | Terawulf | 8.33 Bn | 5.57 Bn | 32.37 Mn | 185.22 Mn |
| 3 | Applied Digital | 7.46 Bn | 3.49 Bn | 97.29 Mn | 383.57 Mn |
| 4 | Cipher Digital | 6.94 Bn | 2.92 Bn | 9.79 Mn | 35.08 Mn |
| 5 | GDS Holdings | 6.17 Bn | 3.98 Bn | 97.89 Mn | -28.32 Mn |
| 6 | Core Scientific | 5.88 Bn | 3.94 Bn | 70.04 Mn | 49.39 Mn |
| 7 | Vnet | 1.75 Bn | 757.22 Mn | 74.45 Mn | -40.67 Mn |
| 8 | Sify Technologies | 1.55 Bn | 1.55 Bn | 51.65 Mn | -97.82 Mn |
| 9 | WhiteFiber | 745.81 Mn | 685.44 Mn | 18.88 Mn | 38.09 Mn |
| 10 | Vulcan Infrastructure & Power | 445.09 Mn | 441.89 Mn | -1.25 Mn | 13.03 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -40.67 Mn |
| Mar 31, 2026 | -53.48 Mn |
| Dec 31, 2025 | -55.40 Mn |
| Sep 30, 2025 | -46.82 Mn |
| Jun 30, 2025 | -52.31 Mn |
| Mar 31, 2025 | -43.66 Mn |
| Dec 31, 2024 | -36.70 Mn |
| Sep 30, 2024 | -42.79 Mn |
| Jun 30, 2024 | -31.69 Mn |
| Mar 31, 2024 | -50.46 Mn |
| Dec 31, 2023 | -352.46 Mn |
| Sep 30, 2023 | -37.59 Mn |
| Jun 30, 2023 | -34.41 Mn |
| Mar 31, 2023 | -34.53 Mn |
| Dec 31, 2022 | -50.13 Mn |
| Sep 30, 2022 | -43.60 Mn |
| Jun 30, 2022 | -48.03 Mn |
| Mar 31, 2022 | -40.93 Mn |
| Dec 31, 2021 | -101.96 Mn |
| Sep 30, 2021 | -40.56 Mn |