Futu Holdings (FUTU) Research & Development (2018 - 2025)
Futu Holdings (FUTU) posted quarterly Research & Development of -$65.1 million for Q4 2025, down 8.96% year-over-year from -$71.5 million in Q4 2024, and up 13.51% quarter-over-quarter from -$75.3 million in Q3 2025.
Futu Holdings (FUTU) Research & Development (2018 - 2025) Analysis & Trends
Futu Holdings' Research & Development history runs 8 years deep, the most recent figure standing at -$65.1 million for Q4 2025.
- In Q4 2025, Research & Development fell 8.96% year-over-year to -$65.1 million; the TTM figure through Dec 2025 stood at -$254.0 million (down 40.41% YoY), while the FY2025 annual figure was $254.5 million, up 32.33% from the prior year.
- Research & Development for Q4 2025 stood at -$65.1 million, up from -$75.3 million in the prior quarter.
- The five-year high for Research & Development was -$18.0 million in Q1 2023, with the low at -$75.3 million in Q3 2025.
- The 5-year median for Research & Development is -$38.9 million (2024), against an average of -$40.9 million.
- The sharpest annual moves came in 2021 and 2022: Research & Development slumped 519.44% in 2021, then soared 54.58% in 2022.
- Futu Holdings' Research & Development stood at -$43.2 million in 2021, then jumped by 54.58% to -$19.6 million in 2022, then dropped by 19.05% to -$23.4 million in 2023, then tumbled by 155.71% to -$59.7 million in 2024, then declined by 8.96% to -$65.1 million in 2025.
- Business Quant data shows FUTU's Research & Development at -$65.1 million in Q4 2025, -$75.3 million in Q3 2025, and -$54.7 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 338.83 Bn | 205.30 Bn | - | 1.20 Bn |
| 2 | Goldman Sachs | 316.34 Bn | -660.01 Bn | - | 635.00 Mn |
| 3 | Schwab Charles | 220.55 Bn | 135.80 Bn | - | - |
| 4 | Futu Holdings | 121.48 Bn | 105.59 Bn | 733.58 Mn | -65.09 Mn |
| 5 | Robinhood Markets | 84.07 Bn | 66.74 Bn | 1.20 Bn | 256.00 Mn |
| 6 | Iren | 68.17 Bn | 65.95 Bn | 104.86 Mn | - |
| 7 | ATIF Holdings | 45.42 Bn | 45.42 Bn | - | - |
| 8 | Interactive Brokers | 39.54 Bn | -3.28 Bn | - | - |
| 9 | LPL Financial Holdings | 28.27 Bn | 25.57 Bn | - | 26.20 Mn |
| 10 | Tradeweb Markets | 23.53 Bn | 22.17 Bn | - | 41.98 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -65.09 Mn |
| Sep 30, 2025 | -75.26 Mn |
| Jun 30, 2025 | -54.67 Mn |
| Mar 31, 2025 | -59.02 Mn |
| Dec 31, 2024 | -59.74 Mn |
| Sep 30, 2024 | -40.46 Mn |
| Jun 30, 2024 | -43.33 Mn |
| Mar 31, 2024 | -37.40 Mn |
| Dec 31, 2023 | -23.36 Mn |
| Sep 30, 2023 | -27.03 Mn |
| Jun 30, 2023 | -22.32 Mn |
| Mar 31, 2023 | -18.00 Mn |
| Dec 31, 2022 | -19.62 Mn |
| Sep 30, 2022 | -30.00 Mn |
| Jun 30, 2022 | -27.92 Mn |
| Mar 31, 2022 | -36.79 Mn |
| Dec 31, 2021 | -43.20 Mn |
| Sep 30, 2021 | -51.78 Mn |
| Jun 30, 2021 | -48.60 Mn |
| Mar 31, 2021 | -35.32 Mn |