TRU · 10-Q · 2026Q1 · Full report

Selling, General and Administrative Trends

TransUnion · 2026-04-28 · Importance 67 · Surprise 66

SG&A expenses increased $72.2 million in Q1 2026 versus Q1 2025, rising to $329.1 million (a 28.1% increase). The increase was driven primarily by the absence in 2026 of a $56.0 million accrual reduction that occurred when a lawsuit was dismissed in Q1 2025, and by approximately $25.0 million higher labor-related costs including incentive compensation and increased salaries and commissions. These increases were partially offset by a roughly $9.0 million reduction in costs related to the operating model optimization program, which completed in 2025. The net SG&A increase materially contributed to the 19.0% total operating expense increase versus prior year.

Key facts

• The increase in selling, general and administrative for the three months ended March 31, 2026 was due primarily to a $56.0 million reduction of an accrual for a lawsuit that was dismissed in the first quarter of 2025.
• Selling, general and administrative expenses increased $72.2 million for the three months ended March 31, 2026 compared with the same period in 2025.
• Selling, general and administrative also increased by approximately $25.0 million due to labor-related costs including incentive compensation, primarily stock-based compensation, and increases in salaries and commissions for the three months ended March 31, 2026.
• Selling, general and administrative was partially offset by a decrease of approximately $9.0 million in costs related to the operating model optimization program due to completion of the program in 2025.
• Stock-based compensation was $152.8 million for the trailing twelve months ended March 31, 2026

Impact estimates