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.

• In Q4 2025, Operating Expenses rose 11.85% year-over-year to -$155.0 million; the TTM figure through Dec 2025 stood at -$498.4 million (down 4.53% YoY), while the FY2025 annual figure was $507.2 million, up 7.56% from the prior year.
• Operating Expenses was -$155.0 million for Q4 2025 at Yatsen Holding, down from -$121.4 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of -$83.9 million in Q1 2023 to a low of -$234.6 million in Q4 2021.
• Historically, Operating Expenses has averaged -$141.1 million across 5 years, with a median of -$123.9 million in 2025.
• The sharpest annual moves came in 2021 and 2022: Operating Expenses sank 77.66% in 2021, then surged 50.99% in 2022.
• A 5-year view of Operating Expenses shows it stood at -$234.6 million in 2021, then soared by 50.99% to -$115.0 million in 2022, then sank 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.
• The last three Operating Expenses figures came in at -$155.0 million (Q4 2025), -$121.4 million (Q3 2025), and -$126.5 million (Q2 2025), per Business Quant data.