How did WRLD's operating expenses trend in Q3 2025 compared to previous quarters?

**World Acceptance Corporation (WRLD) experienced a notable increase in operating expenses in Q3 2025 compared to the previous quarters.** Here's a detailed analysis:

1. **General Trend**: WRLD's operating expenses showed a general upward trend from Q3 2024 to Q2 2025, with the most significant increase occurring from Q2 2025 to Q3 2025.
2. **Specific Increases**:
- Interest and fee income rose by 3.1% due to higher interest yields.
- The provision for credit losses increased by 8.5% to $44.1 million, driven by loan growth and changes in expected loss rates.
- General and administrative expenses rose by 2.0% to $67.2 million, with personnel expenses increasing due to higher bonuses.
3. **Comparison with Previous Quarters**:
- Operating expenses in Q3 2025 were higher than in Q2 2025, as evidenced by the increase in general and administrative expenses and the provision for credit losses.
- There were no available data on operating expenses for Q3 2024, but it can be inferred that the expenses were lower than in Q3 2025 based on the percentage increases mentioned above.
4. **Strategic Implications**: The increase in operating expenses reflects WRLD's strategic investments in expanding its customer base and managing credit risks, which are evident from the improvements in loan origination and the reduction in delinquency rates.

In conclusion, WRLD's operating expenses in Q3 2025 were higher than in the previous quarters, primarily due to increased provisions for credit losses and general and administrative expenses. This trend suggests a proactive approach to managing risks and expanding operations, which is a positive signal for the company's financial performance and growth prospects.