Bilibili (BILI) Research & Development (2017 - 2026)
Bilibili (BILI) posted quarterly Research & Development of -$133.0 million for Q1 2026, down 14.68% year-over-year from -$155.9 million in Q1 2025, and down 2.4% quarter-over-quarter from -$129.9 million in Q4 2025.
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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 $628.3 million, up 4.2% from the prior year.
- Research & Development for Q1 2026 stood at -$133.0 million, down from -$129.9 million in the prior quarter.
- The five-year high for Research & Development was -$116.0 million in Q1 2025, with the low at -$210.0 million in Q4 2022.
- The 5-year median for Research & Development is -$135.0 million (2024), against an average of -$145.6 million.
- Peak annual rise in Research & Development reached 52.71% in 2022, while the deepest fall reached 77.57% in 2022.
- Bilibili's Research & Development stood at -$210.0 million in 2022, then climbed by 12.23% to -$184.3 million in 2023, then jumped by 30.57% to -$128.0 million in 2024, then declined by 1.47% to -$129.9 million in 2025, then retreated by 2.4% to -$133.0 million in 2026.
- Business Quant data shows BILI's Research & Development at -$133.0 million in Q1 2026, -$129.9 million in Q4 2025, and -$126.4 million in Q3 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,083.83 Bn | 3,654.79 Bn | 73.85 Bn | 18.22 Bn |
| 2 | Meta Platforms | 1,456.07 Bn | 1,365.81 Bn | 49.47 Bn | 21.66 Bn |
| 3 | Spotify Technology | 111.71 Bn | 104.79 Bn | 1.86 Bn | 468.43 Mn |
| 4 | Nebius | 50.03 Bn | 40.93 Bn | 448.70 Mn | 191.00 Mn |
| 5 | 28.44 Bn | 25.65 Bn | 734.60 Mn | 231.28 Mn | |
| 6 | Bilibili | 13.59 Bn | 11.45 Bn | 433.97 Mn | -148.13 Mn |
| 7 | Tencent Music Entertainment | 12.71 Bn | 9.21 Bn | 582.00 Mn | -35.00 Mn |
| 8 | 12.21 Bn | 10.93 Bn | 922.30 Mn | 451.01 Mn | |
| 9 | Match | 9.45 Bn | 8.86 Bn | 648.84 Mn | 158.25 Mn |
| 10 | Snap | 9.26 Bn | 6.60 Bn | 931.11 Mn | 542.09 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -148.13 Mn |
| 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 |