Our SG&A expense ratio improved 450 basis points to a record low of 14.2%, reflecting discipline expense management, technology-driven efficiencies, and continuing operating leverage.

Aug 6, 2026 / CEO / receipt, needs a key / Mark Bertolini, CEO | earnings call 2026-08-06 | transcript e71143c8-6d99-4c36-9f78-a0ea08e86cfc | chars 3432-3615 | segment 3

Our SG&A ratio improved 60 basis points year-over-year to 15.2%, driven by discipline expense management, top-line growth, and the growing impact of AI across our operations and member services.

May 6, 2026 / CEO / receipt, needs a key / Mark Bertolini, CEO | earnings call 2026-05-06 | transcript 0b1397b3-9cd7-405a-bb88-47952aad0f2c | chars 3072-3266 | segment 3