Bilibili (BILI) Research & Development (2017 - 2026)
Bilibili (BILI) recorded quarterly Research & Development of -$133.0 million in Q1 2026, down 2.4% quarter-over-quarter from -$129.9 million in Q4 2025, and down 14.68% on a YoY basis from -$155.9 million in Q1 2025.
Bilibili (BILI) Research & Development (2017 - 2026) Analysis & Trends
Bilibili's Research & Development history runs 10 years deep, the most recent figure standing at -$133.0 million for Q1 2026.
- In Q1 2026, Research & Development fell 14.68% year-over-year to -$133.0 million; the TTM figure through Mar 2026 stood at -$509.0 million (down 3.05% YoY), while the FY2025 annual figure was $505.3 million, changed 0.08% from the prior year.
- Research & Development was -$133.0 million for Q1 2026 at Bilibili, down from -$129.9 million in the prior quarter.
- In the past five years, Research & Development ranged from a high of -$116.0 million in Q1 2025 to a low of -$210.0 million in Q4 2022.
- Historically, Research & Development has averaged -$145.6 million across 5 years, with a median of -$135.0 million in 2024.
- Biggest YoY gain for Research & Development was 52.71% in 2022; the steepest drop was 77.57% in 2022.
- A 5-year view of Research & Development shows it stood at -$210.0 million in 2022, then grew by 12.23% to -$184.3 million in 2023, then surged by 30.57% to -$128.0 million in 2024, then fell by 1.47% to -$129.9 million in 2025, then decreased by 2.4% to -$133.0 million in 2026.
- The last three Research & Development figures came in at -$133.0 million (Q1 2026), -$129.9 million (Q4 2025), and -$126.4 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Nebius | 1,913,603.98 Bn | 1,913,603.98 Bn | 295.20 Mn | 67.40 Mn |
| 2 | Alphabet | 4,425.33 Bn | 4,209.71 Bn | 102.29 Bn | 17.03 Bn |
| 3 | Meta Platforms | 1,502.66 Bn | 1,421.48 Bn | 46.09 Bn | 17.70 Bn |
| 4 | Spotify Technology | 119.69 Bn | 109.44 Bn | 1.75 Bn | 387.52 Mn |
| 5 | 33.22 Bn | 30.45 Bn | 511.94 Mn | 207.25 Mn | |
| 6 | 13.64 Bn | 12.34 Bn | 768.96 Mn | 380.79 Mn | |
| 7 | Kanzhun | 13.02 Bn | 10.92 Bn | 255.62 Bn | -61.44 Bn |
| 8 | Snap | 9.72 Bn | 6.90 Bn | 1.29 Bn | 478.30 Mn |
| 9 | Zillow | 8.26 Bn | 7.48 Bn | 519.00 Mn | 150.00 Mn |
| 10 | Bilibili | 1,260.36 | -2.30 Bn | 400.37 Mn | -132.98 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -132.98 Mn |
| Dec 31, 2025 | -129.86 Mn |
| Sep 30, 2025 | -126.38 Mn |
| Jun 30, 2025 | -119.78 Mn |
| Mar 31, 2025 | -115.96 Mn |
| Dec 31, 2024 | -127.98 Mn |
| Sep 30, 2024 | -126.42 Mn |
| Jun 30, 2024 | -123.59 Mn |
| Mar 31, 2024 | -134.97 Mn |
| Dec 31, 2023 | -184.34 Mn |
| Sep 30, 2023 | -147.39 Mn |
| Jun 30, 2023 | -149.53 Mn |
| Mar 31, 2023 | -150.08 Mn |
| Dec 31, 2022 | -210.03 Mn |
| Sep 30, 2022 | -165.35 Mn |
| Jun 30, 2022 | -171.62 Mn |
| Mar 31, 2022 | -158.95 Mn |
| Dec 31, 2021 | -444.18 Mn |
| Sep 30, 2021 | -121.86 Mn |
| Jun 30, 2021 | -104.26 Mn |