Webull (BULL) Research & Development (2024 - 2026)
Webull's (BULL) quarterly Research & Development came in at $23.9 million in Q1 2026, up 40.98% YoY from $16.9 million in Q1 2025, and up 15.89% on a QoQ basis from $20.6 million in Q4 2025.
Webull (BULL) Research & Development (2024 - 2026) Analysis & Trends
Webull (BULL) has 3 years of Research & Development data on file, last reported at $23.9 million in 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 climbed to $23.9 million in Q1 2026, from $20.6 million in the prior quarter.
- In the past five years, Research & Development ranged from a high of $23.9 million in Q1 2026 to a low of $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 climbed 13.67% — and 2026, when it soared 40.98%.
- Tracing BULL's Research & Development over 3 years: stood at $17.5 million in 2024, then climbed by 17.59% to $20.6 million in 2025, then rose by 15.89% to $23.9 million in 2026.
- The last three Research & Development figures came in at $23.9 million (Q1 2026), $20.6 million (Q4 2025), and $22.5 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 | Sap Se | 255.48 Bn | 234.41 Bn | 16.51 Bn | -4.12 Bn |
| 2 | Shopify | 198.95 Bn | 194.00 Bn | 1.71 Bn | 498.00 Mn |
| 3 | Salesforce | 160.70 Bn | 148.86 Bn | 8.56 Bn | 3.77 Bn |
| 4 | Uber Technologies | 154.94 Bn | 149.73 Bn | 6.38 Bn | 1.52 Bn |
| 5 | ServiceNow | 128.25 Bn | 123.58 Bn | 2.82 Bn | 1.37 Bn |
| 6 | Snowflake | 114.00 Bn | 111.05 Bn | 926.45 Mn | 588.95 Mn |
| 7 | Automatic Data Processing | 108.58 Bn | 104.35 Bn | 2.51 Bn | 265.90 Mn |
| 8 | Adobe | 105.34 Bn | 99.72 Bn | 5.90 Bn | 1.88 Bn |
| 9 | Intuit | 94.55 Bn | 87.77 Bn | 7.24 Bn | 1.79 Bn |
| 10 | Webull | 4.23 Bn | 3.55 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 |