Webull (BULL) Research & Development (2024 - 2026)
Webull's Research & Development came in at $22.16 million for Q2 2026, up 15.8% from $19.14 million a year earlier but down 7.1% from the prior quarter.
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Analysis
Webull (BULL) Research & Development (2024 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Webull reported Research & Development of $89.14 million, up 27.3% year-over-year; for FY2025, it was $79.18 million, up 24.0% from FY2024.
- Research & Development has increased in each of the last three years, with a three-year compound annual growth rate of 19.2% (FY2022 to FY2025).
- Going back by year, Research & Development was $63.84 million in FY2024 (+22.4%), $52.16 million in FY2023 (+11.5%) and $46.77 million in FY2022.
- The five-year range for quarterly Research & Development is $14.89 million (Q1 2024) to $23.86 million (Q1 2026).
- Year-over-year, Research & Development has increased for six consecutive quarters, with growth averaging 25.4% over the last six quarters.
- Business Quant data shows BULL's Research & Development at $23.86 million (Q1 2026), $20.59 million (Q4 2025) and $22.53 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Robinhood Markets | 104.70 Bn | 85.79 Bn | - | 256.00 Mn |
| 2 | Bank of New York Mellon | 100.72 Bn | 40.09 Bn | - | - |
| 3 | Cme | 94.58 Bn | 94.58 Bn | - | - |
| 4 | Intercontinental Exchange | 85.83 Bn | 79.63 Bn | - | - |
| 5 | Nasdaq | 52.05 Bn | 49.49 Bn | 1.50 Bn | - |
| 6 | State Street | 49.39 Bn | 49.39 Bn | - | - |
| 7 | Interactive Brokers | 39.24 Bn | 32.69 Bn | - | - |
| 8 | Northern Trust | 31.94 Bn | 31.94 Bn | - | - |
| 9 | Cboe Global Markets | 26.47 Bn | 18.13 Bn | 731.60 Mn | - |
| 10 | Webull | 3.69 Bn | 1.00 Bn | 85.87 Mn | 22.16 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 22.16 Mn |
| 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 |
API Access
Webull Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=BULL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "BULL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=BULL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();