Webull (BULLW) Research & Development (2024 - 2026)
Webull (BULLW) reported Research & Development of $23.9 million for Q1 2026, up 40.98% on a YoY basis from $16.9 million in Q1 2025, and up 15.89% quarter-over-quarter from $20.6 million in Q4 2025.
Webull (BULLW) Research & Development (2024 - 2026) Analysis & Trends
Webull has reported Research & Development for 3 years, with the latest figure at $23.9 million in Q1 2026.
- For the quarter ending Q1 2026, Research & Development rose 40.98% year-over-year to $23.9 million; the trailing twelve-month figure through Mar 2026 stood at $86.1 million (up 30.73% YoY), and the FY2025 full-year result was $79.2 million, up 24.03% from the prior year.
- Research & Development for Q1 2026 stood at $23.9 million, up from $20.6 million in the prior quarter.
- The five-year high for Research & Development was $23.9 million in Q1 2026, with the low at $14.9 million in Q1 2024.
- Historically, Research & Development has averaged $18.5 million across 3 years, with a median of $17.5 million in 2024.
- Annual changes were most pronounced in 2025 — Research & Development climbed 13.67% — and 2026, when it soared 40.98%.
- Webull's Research & Development 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 | 262.33 Bn | 244.36 Bn | 8.16 Bn | -1.99 Bn |
| 2 | Full Truck Alliance | 173.49 Bn | 170.93 Bn | - | -37.02 Mn |
| 3 | Salesforce | 158.80 Bn | 146.96 Bn | 8.56 Bn | 1.63 Bn |
| 4 | Shopify | 144.36 Bn | 138.62 Bn | 1.55 Bn | 437.00 Mn |
| 5 | Uber Technologies | 144.25 Bn | 143.21 Bn | 11.88 Bn | 951.00 Mn |
| 6 | ServiceNow | 118.74 Bn | 113.56 Bn | 2.83 Bn | 823.00 Mn |
| 7 | Cadence Design Systems | 107.33 Bn | 105.92 Bn | 1.26 Bn | 508.44 Mn |
| 8 | Adobe | 100.50 Bn | 93.61 Bn | 5.73 Bn | 1.11 Bn |
| 9 | Automatic Data Processing | 92.49 Bn | 89.26 Bn | 2.87 Bn | 253.90 Mn |
| 10 | Webull | - | - | - | 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 |