Nelnet annual operating expenses
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Nelnet Operating Expenses Growth & History (NNI)
Nelnet's operating expenses was $927.1M for fiscal 2025.
View full Nelnet company overviewNelnet annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $927.1M | $44.2M | +5.00% |
| 2024 | 2024-12-31 | $882.9M | −$9.5M | −1.06% |
| 2023 | 2023-12-31 | $892.4M | $58.0M | +6.95% |
| 2022 | 2022-12-31 | $834.4M | $108.1M | +14.88% |
| 2021 | 2021-12-31 | $726.3M | −$54.8M | −7.01% |
| 2020 | 2020-12-31 | $781.1M | $18.3M | +2.40% |
| 2019 | 2019-12-31 | $762.8M | $73.4M | +10.65% |
| 2018 | 2018-12-31 | $689.4M | $204.8M | +42.28% |
| 2017 | 2017-12-31 | $484.5M | $51.3M | +11.83% |
| 2016 | 2016-12-31 | $433.3M | — | — |
| 2014 | 2014-12-31 | $452.5M | $23.5M | +5.48% |
| 2013 | 2013-12-31 | $429.0M | −$4.6M | −1.06% |
| 2012 | 2012-12-31 | $433.6M | $25.9M | +6.35% |
| 2011 | 2011-12-31 | $407.7M | −$95.8M | −19.03% |
| 2010 | 2010-12-31 | $503.5M | $97.9M | +24.12% |
| 2009 | 2009-12-31 | $405.6M | — | — |
Nelnet quarterly operating expenses
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Q2.26
| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $259.8M | $35.2M | +15.68% |
| Q1 2026 | 2026-03-31 | $234.0M | $16.0M | +7.33% |
| Q4 2025 | 2025-12-31 | $258.8M | $29.0M | +12.61% |
| Q3 2025 | 2025-09-30 | $225.7M | $4.4M | +2.00% |
| Q2 2025 | 2025-06-30 | $224.6M | $10.2M | +4.77% |
| Q1 2025 | 2025-03-31 | $218.0M | $508,000 | +0.23% |
| Q4 2024 | 2024-12-31 | $229.8M | −$28.8M | −11.13% |
| Q3 2024 | 2024-09-30 | $221.3M | $6.9M | +3.21% |
| Q2 2024 | 2024-06-30 | $214.4M | $5.0M | +2.40% |
| Q1 2024 | 2024-03-31 | $217.5M | $7.4M | +3.51% |
| Q4 2023 | 2023-12-31 | $258.5M | $36.4M | +16.38% |
| Q3 2023 | 2023-09-30 | $214.4M | $4.6M | +2.18% |
| Q2 2023 | 2023-06-30 | $209.4M | $12.8M | +6.49% |
| Q1 2023 | 2023-03-31 | $210.1M | $4.3M | +2.07% |
| Q4 2022 | 2022-12-31 | $222.1M | $22.9M | +11.49% |
| Q3 2022 | 2022-09-30 | $209.8M | $27.2M | +14.89% |
| Q2 2022 | 2022-06-30 | $196.6M | $24.8M | +14.43% |
| Q1 2022 | 2022-03-31 | $205.9M | $33.2M | +19.22% |
| Q4 2021 | 2021-12-31 | $199.3M | −$14.1M | −6.61% |
| Q3 2021 | 2021-09-30 | $182.6M | −$8.5M | −4.46% |
| Q2 2021 | 2021-06-30 | $171.8M | −$13.9M | −7.49% |
| Q1 2021 | 2021-03-31 | $172.7M | −$18.2M | −9.55% |
| Q4 2020 | 2020-12-31 | $213.4M | $13.4M | +6.72% |
| Q3 2020 | 2020-09-30 | $191.1M | −$11.6M | −5.70% |
| Q2 2020 | 2020-06-30 | $185.7M | $4.6M | +2.53% |
| Q1 2020 | 2020-03-31 | $190.9M | $11.8M | +6.60% |
| Q4 2019 | 2019-12-31 | $199.9M | $23.9M | +13.55% |
| Q3 2019 | 2019-09-30 | $202.7M | $17.3M | +9.30% |
| Q2 2019 | 2019-06-30 | $181.1M | $4.9M | +2.77% |
| Q1 2019 | 2019-03-31 | $179.1M | $27.4M | +18.09% |
| Q4 2018 | 2018-12-31 | $176.1M | $41.5M | +30.83% |
| Q3 2018 | 2018-09-30 | $185.4M | $63.7M | +52.30% |
| Q2 2018 | 2018-06-30 | $176.2M | $60.7M | +52.50% |
| Q1 2018 | 2018-03-31 | $151.7M | $39.0M | +34.63% |
| Q4 2017 | 2017-12-31 | $134.6M | $27.0M | +25.10% |
| Q3 2017 | 2017-09-30 | $121.8M | $15.0M | +14.02% |
| Q2 2017 | 2017-06-30 | $115.6M | $8.1M | +7.58% |
| Q1 2017 | 2017-03-31 | $112.6M | $1.1M | +1.02% |
| Q4 2016 | 2016-12-31 | $107.6M | — | — |
| Q3 2016 | 2016-09-30 | $106.8M | −$14.1M | −11.70% |
| Q2 2016 | 2016-06-30 | $107.4M | −$8.4M | −7.27% |
| Q1 2016 | 2016-03-31 | $111.5M | −$3.7M | −3.22% |
| Q3 2015 | 2015-09-30 | $120.9M | $3.5M | +2.97% |
| Q2 2015 | 2015-06-30 | $115.8M | $3.0M | +2.69% |
| Q1 2015 | 2015-03-31 | $115.2M | $7.9M | +7.32% |
| Q4 2014 | 2014-12-31 | $114.9M | $3.3M | +2.96% |
| Q3 2014 | 2014-09-30 | $117.4M | $9.8M | +9.14% |
| Q2 2014 | 2014-06-30 | $112.8M | $9.9M | +9.61% |
| Q1 2014 | 2014-03-31 | $107.4M | $504,000 | +0.47% |
| Q4 2013 | 2013-12-31 | $111.6M | $2.4M | +2.16% |
| Q3 2013 | 2013-09-30 | $107.6M | $2.7M | +2.54% |
| Q2 2013 | 2013-06-30 | $102.9M | −$5.3M | −4.90% |
| Q1 2013 | 2013-03-31 | $106.9M | −$4.3M | −3.87% |
| Q4 2012 | 2012-12-31 | $109.2M | $6.6M | +6.38% |
| Q3 2012 | 2012-09-30 | $104.9M | $159,000 | +0.15% |
| Q2 2012 | 2012-06-30 | $108.2M | $7.7M | +7.61% |
| Q1 2012 | 2012-03-31 | $111.2M | $11.5M | +11.58% |
| Q4 2011 | 2011-12-31 | $102.7M | — | — |
| Q3 2011 | 2011-09-30 | $104.8M | −$55.5M | −34.63% |
| Q2 2011 | 2011-06-30 | $100.6M | −$7.7M | −7.08% |
| Q1 2011 | 2011-03-31 | $99.6M | — | — |
| Q3 2010 | 2010-09-30 | $160.3M | — | — |
| Q2 2010 | 2010-06-30 | $108.2M | — | — |
Nelnet operating expenses trends
Over the last five fiscal years, Nelnet's operating expenses increased from $781.1M to $927.1M, a change of $146.0M. The latest reported quarter, Q2 2026, shows $259.8M.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Nelnet source filings ↗