Webull (BULL) Research & Development (2024 - 2026)
Webull (BULL) posted Research & Development of $23.9 million for Q1 2026, up 15.89% on a QoQ basis from $20.6 million in Q4 2025, and up 40.98% year-over-year from $16.9 million in Q1 2025.
Webull (BULL) Research & Development (2024 - 2026) Analysis & Trends
Webull's Research & Development history runs 3 years deep, the most recent figure standing at $23.9 million for Q1 2026.
- Quarterly Research & Development rose 40.98% year-over-year to $23.9 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $86.1 million (up 30.73% YoY) and the FY2025 annual result came in at $79.2 million, up 24.03% from the prior year.
- Research & Development was $23.9 million for Q1 2026 at Webull, up from $20.6 million in the prior quarter.
- Across five years, Research & Development topped out at $23.9 million in Q1 2026 and bottomed at $14.9 million in Q1 2024.
- A 3-year average of $18.5 million and a median of $17.5 million in 2024 frame the typical range for Research & Development.
- Annual changes were most pronounced in 2025 — Research & Development rose 13.67% — and 2026, when it soared 40.98%.
- Webull's Research & Development stood at $17.5 million in 2024, then increased by 17.59% to $20.6 million in 2025, then advanced by 15.89% to $23.9 million in 2026.
- Business Quant data shows BULL's Research & Development at $23.9 million in Q1 2026, $20.6 million in Q4 2025, and $22.5 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 208.91 Bn | 189.27 Bn | 8.16 Bn | -1.99 Bn |
| 2 | Full Truck Alliance | 188.77 Bn | 186.13 Bn | - | -37.02 Mn |
| 3 | Shopify | 145.98 Bn | 140.23 Bn | 1.55 Bn | 496.00 Mn |
| 4 | Uber Technologies | 141.48 Bn | 140.44 Bn | 5.95 Bn | 1.33 Bn |
| 5 | Salesforce | 128.51 Bn | 116.67 Bn | 8.56 Bn | 3.77 Bn |
| 6 | ServiceNow | 98.38 Bn | 93.20 Bn | 2.82 Bn | 1.37 Bn |
| 7 | Automatic Data Processing | 97.56 Bn | 94.34 Bn | 2.87 Bn | 253.90 Mn |
| 8 | Snowflake | 91.55 Bn | 88.59 Bn | 926.45 Mn | 588.95 Mn |
| 9 | Cadence Design Systems | 89.91 Bn | 88.50 Bn | 1.41 Bn | 508.44 Mn |
| 10 | Webull | 4.12 Bn | 3.45 Bn | - | 23.86 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 23.86 Mn |
| Dec 31, 2025 | 20.59 Mn |
| Sep 30, 2025 | 22.53 Mn |
| Jun 30, 2025 | 19.14 Mn |
| Mar 31, 2025 | 16.92 Mn |
| Dec 31, 2024 | 17.51 Mn |
| Sep 30, 2024 | 16.44 Mn |
| Jun 30, 2024 | 15.00 Mn |
| Mar 31, 2024 | 14.89 Mn |