Full Truck Alliance (YMM) Operating Expenses (2020 - 2025)

Full Truck Alliance's Operating Expenses history runs 6 years deep, the most recent figure standing at -$310.0 million for Q4 2025.

• In Q4 2025, Operating Expenses rose 3.49% year-over-year to -$310.0 million; the TTM figure through Dec 2025 stood at -$1.2 billion (up 3.42% YoY), while the FY2025 annual figure was $1.2 billion, changed 0.27% from the prior year.
• Operating Expenses came in at -$310.0 million for Q4 2025 at Full Truck Alliance, up from -$362.9 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of -$165.3 million in Q1 2021 to a low of -$490.3 million in Q2 2021.
• A 5-year average of -$289.6 million and a median of -$279.7 million in 2022 frame the typical range for Operating Expenses.
• Across the five-year window, Operating Expenses tumbled 284.35% in 2021 and soared 47.52% in 2022, its largest moves.
• Full Truck Alliance's Operating Expenses stood at -$438.1 million in 2021, then surged by 35.63% to -$282.0 million in 2022, then decreased by 7.99% to -$304.5 million in 2023, then decreased by 5.48% to -$321.2 million in 2024, then increased by 3.49% to -$310.0 million in 2025.
• According to Business Quant data, Operating Expenses over the past three periods registered -$310.0 million, -$362.9 million, and -$294.2 million for Q4 2025, Q3 2025, and Q2 2025 respectively.

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