Webull (BULL) Research & Development (2024 - 2025)
Webull posted quarterly Research & Development of $20.6 million for Q4 2025, up 17.59% year-on-year from $17.5 million in Q4 2024, and down 8.61% on a QoQ basis from $22.5 million in Q3 2025.
Webull (BULL) has 2 years of Research & Development data on file, last reported at $20.6 million in Q4 2025.
- For the quarter ending Q4 2025, Research & Development rose 17.59% year-over-year to $20.6 million; the trailing twelve-month figure through Dec 2025 stood at $79.2 million (up 24.03% YoY), and the FY2025 full-year result was $79.2 million, up 24.03% from the prior year.
- Research & Development for Q4 2025 stood at $20.6 million, down from $22.5 million in the prior quarter.
- Across five years, Research & Development topped out at $22.5 million in Q3 2025 and bottomed at $14.9 million in Q1 2024.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 253.17 Bn | 235.20 Bn | 8.16 Bn | -1.99 Bn |
| 2 | Salesforce | 171.07 Bn | 161.50 Bn | 8.69 Bn | 1.62 Bn |
| 3 | Uber Technologies | 151.10 Bn | 150.06 Bn | 11.88 Bn | 951.00 Mn |
| 4 | Shopify | 134.25 Bn | 128.50 Bn | 1.55 Bn | 437.00 Mn |
| 5 | ServiceNow | 105.72 Bn | 100.54 Bn | 2.83 Bn | 823.00 Mn |
| 6 | Cadence Design Systems | 101.64 Bn | 100.23 Bn | 1.26 Bn | 508.44 Mn |
| 7 | Adobe | 100.35 Bn | 93.46 Bn | 5.73 Bn | 1.11 Bn |
| 8 | Automatic Data Processing | 90.91 Bn | 87.68 Bn | 2.87 Bn | 253.90 Mn |
| 9 | Intuit | 88.30 Bn | 81.52 Bn | 6.77 Bn | 840.00 Mn |
| 10 | Webull | 2.45 Bn | 1.79 Bn | - | 20.59 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |