Yatsen Holding (YSG) Operating Expenses (2019 - 2025)

Yatsen Holding's Operating Expenses history runs 7 years deep, the most recent figure standing at -$155.0 million for Q4 2025.

• On a quarterly basis, Operating Expenses rose 11.85% year-over-year to -$155.0 million in Q4 2025; TTM through Dec 2025 was -$498.4 million, a 4.53% decrease from a year earlier, with the FY2025 full-year figure at $507.2 million, up 7.56% from the prior year.
• Operating Expenses fell to -$155.0 million in Q4 2025 per YSG's latest filing, from -$121.4 million in the prior quarter.
• Across five years, Operating Expenses topped out at -$83.9 million in Q1 2023 and bottomed at -$234.6 million in Q4 2021.
• The 5-year median for Operating Expenses is -$123.9 million (2025), against an average of -$141.1 million.
• Across the five-year window, Operating Expenses sank 77.66% in 2021 and jumped 50.99% in 2022, its largest moves.
• Year by year, Operating Expenses stood at -$234.6 million in 2021, then soared by 50.99% to -$115.0 million in 2022, then tumbled by 62.93% to -$187.3 million in 2023, then grew by 6.11% to -$175.9 million in 2024, then rose by 11.85% to -$155.0 million in 2025.
• Per Business Quant, the three latest YSG Operating Expenses figures stand at -$155.0 million (Q4 2025), -$121.4 million (Q3 2025), and -$126.5 million (Q2 2025).