Flutter Entertainment (FLUT) Research & Development (2017 - 2026)
Flutter Entertainment posted quarterly Research & Development of $259.0 million for Q1 2026, up 20.47% year-on-year from $215.0 million in Q1 2025, and up 5.71% on a QoQ basis from $245.0 million in Q4 2025.
Flutter Entertainment (FLUT) has 7 years of Research & Development data on file, last reported at $259.0 million in Q1 2026.
- For the quarter ending Q1 2026, Research & Development rose 20.47% year-over-year to $259.0 million; the trailing twelve-month figure through Mar 2026 stood at $1.0 billion (up 22.49% YoY), and the FY2025 full-year result was $991.0 million, up 20.85% from the prior year.
- Research & Development for Q1 2026 stood at $259.0 million, up from $245.0 million in the prior quarter.
- Across five years, Research & Development topped out at $275.0 million in Q3 2025 and bottomed at $168.0 million in Q1 2023.
- The 4-year median for Research & Development is $214.0 million (2023), against an average of $218.1 million.
- The widest annual swing landed in 2024, when Research & Development retreated 2.9%; it then grew 29.11% in 2025.
- A 4-year view of Research & Development shows it stood at $207.0 million in 2023, then declined by 2.9% to $201.0 million in 2024, then increased by 21.89% to $245.0 million in 2025, then rose by 5.71% to $259.0 million in 2026.
- The last three Research & Development figures came in at $259.0 million (Q1 2026), $245.0 million (Q4 2025), and $275.0 million (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Flutter Entertainment | 18.39 Bn | 17.30 Bn | 1.84 Bn | 259.00 Mn |
| 2 | DraftKings | 13.23 Bn | 12.22 Bn | 696.69 Mn | 123.18 Mn |
| 3 | Churchill Downs | 6.28 Bn | 6.13 Bn | 475.00 Mn | - |
| 4 | Rush Street Interactive | 2.60 Bn | 2.43 Bn | 132.17 Mn | - |
| 5 | Brightstar Lottery | 2.28 Bn | 2.94 Bn | - | - |
| 6 | Accel Entertainment | 1.01 Bn | 735.58 Mn | 109.94 Mn | - |
| 7 | Codere Online Luxembourg | 490.38 Mn | 420.96 Mn | - | - |
| 8 | Bragg Gaming | 269.74 Mn | 261.99 Mn | 18.22 Mn | -575,037.50 |
| 9 | Inspired Entertainment | 233.43 Mn | 189.93 Mn | 54.60 Mn | - |
| 10 | High Roller Technologies | 45.23 Mn | 42.56 Mn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 259.00 Mn |
| Dec 31, 2025 | 245.00 Mn |
| Sep 30, 2025 | 275.00 Mn |
| Jun 30, 2025 | 256.00 Mn |
| Mar 31, 2025 | 215.00 Mn |
| Dec 31, 2024 | 201.00 Mn |
| Sep 30, 2024 | 213.00 Mn |
| Jun 30, 2024 | 216.00 Mn |
| Mar 31, 2024 | 190.00 Mn |
| Dec 31, 2023 | 207.00 Mn |
| Sep 30, 2023 | 214.00 Mn |
| Jun 30, 2023 | 176.00 Mn |
| Mar 31, 2023 | 168.00 Mn |
| Sep 30, 2019 | -13.26 Mn |
| Jun 30, 2019 | -13.40 Mn |
| Mar 31, 2019 | -12.51 Mn |
| Dec 31, 2018 | 432,000.00 |
| Sep 30, 2018 | -11.86 Mn |
| Jun 30, 2018 | -9.13 Mn |
| Mar 31, 2018 | -8.04 Mn |
| Dec 31, 2017 | -6.67 Mn |
| Sep 30, 2017 | -6.03 Mn |
| Jun 30, 2017 | -5.38 Mn |