X Financial (XYF) Operating Expenses (2017 - 2026)
X Financial (XYF) posted Operating Expenses of $117.7 million for Q2 2026, down 21.59% on a QoQ basis from $150.1 million in Q1 2026, and down 47.24% year-over-year from $223.1 million in Q2 2025.
Analysis
X Financial (XYF) Operating Expenses (2017 - 2026) Analysis & Trends
X Financial has reported Operating Expenses for 10 years, with the latest figure at $117.7 million in Q2 2026.
- On a quarterly basis, Operating Expenses fell 47.24% year-over-year to $117.7 million in Q2 2026; TTM through Jun 2026 was $699.4 million, a 3.69% decrease from a year earlier, with the FY2025 full-year figure at $859.3 million, up 56.89% from the prior year.
- Operating Expenses was $117.7 million for Q2 2026 at X Financial, down from $150.1 million in the prior quarter.
- The five-year high for Operating Expenses was $224.6 million in Q3 2025, with the low at $83.5 million in Q3 2022.
- Average Operating Expenses over 5 years is $139.2 million, with a median of $128.5 million recorded in 2023.
- The sharpest annual moves came in 2022 and 2026: Operating Expenses soared 332.83% in 2022, then plunged 47.24% in 2026.
- Over 5 years, Operating Expenses stood at $98.8 million in 2022, then soared by 33.74% to $132.2 million in 2023, then rose by 22.67% to $162.1 million in 2024, then advanced by 27.68% to $207.0 million in 2025, then tumbled by 43.14% to $117.7 million in 2026.
- The last three Operating Expenses figures came in at $117.7 million (Q2 2026), $150.1 million (Q1 2026), and $207.0 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Upstart Holdings | 2.43 Bn | 1.99 Bn | 303.39 Mn | 350.07 Mn |
| 2 | Pagaya Technologies | 1.70 Bn | 1.51 Bn | 168.33 Mn | 281.24 Mn |
| 3 | Qfin Holdings | 986.27 Mn | -9.51 Mn | - | 354.54 Mn |
| 4 | FinVolution | 836.54 Mn | -90.46 Mn | - | -423.57 Mn |
| 5 | X Financial | 386.17 Mn | -182.14 Mn | 84.09 Mn | 117.70 Mn |
| 6 | Open Lending | 371.20 Mn | 186.25 Mn | 15.64 Mn | 16.27 Mn |
| 7 | Blend Labs | 279.09 Mn | 234.22 Mn | 24.89 Mn | 26.46 Mn |
| 8 | LexinFintech Holdings | 251.25 Mn | 251.25 Mn | 73.06 Mn | -88.58 Mn |
| 9 | Jiayin | 76.25 Mn | 2.23 Mn | - | -144.96 Mn |
| 10 | Antalpha Platform Holding | 76.02 Mn | -813.69 Mn | 11.94 Mn | 37.28 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 117.70 Mn |
| Mar 31, 2026 | 150.11 Mn |
| Dec 31, 2025 | 207.01 Mn |
| Sep 30, 2025 | 224.61 Mn |
| Jun 30, 2025 | 223.08 Mn |
| Mar 31, 2025 | 188.05 Mn |
| Dec 31, 2024 | 162.14 Mn |
| Sep 30, 2024 | 152.98 Mn |
| Jun 30, 2024 | 125.16 Mn |
| Mar 31, 2024 | 115.15 Mn |
| Dec 31, 2023 | 132.18 Mn |
| Sep 30, 2023 | 131.87 Mn |
| Jun 30, 2023 | 106.98 Mn |
| Mar 31, 2023 | 102.06 Mn |
| Dec 31, 2022 | 98.84 Mn |
| Sep 30, 2022 | 83.53 Mn |
| Jun 30, 2022 | 94.13 Mn |
| Mar 31, 2022 | 90.59 Mn |
| Dec 31, 2021 | 22.84 Mn |
| Sep 30, 2021 | 43.44 Mn |