Joyy (JOYY) Research & Development (2011 - 2025)
Joyy (JOYY) recorded quarterly Research & Development of -$61.5 million in Q4 2025, up 2.47% quarter-over-quarter from -$63.1 million in Q3 2025, and up 8.81% on a YoY basis from -$56.6 million in Q4 2024.
Joyy (JOYY) Research & Development (2011 - 2025) Analysis & Trends
Joyy's Research & Development history runs 15 years deep, the most recent figure standing at -$61.5 million for Q4 2025.
- In Q4 2025, Research & Development rose 8.81% year-over-year to -$61.5 million; the TTM figure through Dec 2025 stood at -$247.1 million (up 11.34% YoY), while the FY2025 annual figure was $247.1 million, down 11.34% from the prior year.
- Research & Development was -$61.5 million for Q4 2025 at Joyy, up from -$63.1 million in the prior quarter.
- In the past five years, Research & Development ranged from a high of -$29.3 million in Q4 2021 to a low of -$100.7 million in Q2 2021.
- Historically, Research & Development has averaged -$68.0 million across 5 years, with a median of -$67.5 million in 2024.
- The sharpest annual moves came in 2021 and 2022: Research & Development soared 58.03% in 2021, then slumped 151.23% in 2022.
- A 5-year view of Research & Development shows it stood at -$29.3 million in 2021, then plunged by 151.23% to -$73.6 million in 2022, then grew by 1.42% to -$72.6 million in 2023, then climbed by 7.02% to -$67.5 million in 2024, then advanced by 8.81% to -$61.5 million in 2025.
- The last three Research & Development figures came in at -$61.5 million (Q4 2025), -$63.1 million (Q3 2025), and -$60.1 million (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Nebius | 1,913,603.98 Bn | 1,913,603.98 Bn | 295.20 Mn | 67.40 Mn |
| 2 | Alphabet | 4,425.33 Bn | 4,209.71 Bn | 102.29 Bn | 17.03 Bn |
| 3 | Meta Platforms | 1,502.66 Bn | 1,421.48 Bn | 46.09 Bn | 17.70 Bn |
| 4 | Spotify Technology | 119.69 Bn | 109.44 Bn | 1.75 Bn | 387.52 Mn |
| 5 | 33.22 Bn | 30.45 Bn | 511.94 Mn | 207.25 Mn | |
| 6 | 13.64 Bn | 12.34 Bn | 768.96 Mn | 380.79 Mn | |
| 7 | Kanzhun | 13.02 Bn | 10.92 Bn | 255.62 Bn | -61.44 Bn |
| 8 | Snap | 9.72 Bn | 6.90 Bn | 1.29 Bn | 478.30 Mn |
| 9 | Zillow | 8.26 Bn | 7.48 Bn | 519.00 Mn | 150.00 Mn |
| 10 | Joyy | - | - | 205.64 Mn | -61.54 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -61.54 Mn |
| Sep 30, 2025 | -63.09 Mn |
| Jun 30, 2025 | -60.08 Mn |
| Mar 31, 2025 | -62.43 Mn |
| Dec 31, 2024 | -67.49 Mn |
| Sep 30, 2024 | -72.36 Mn |
| Jun 30, 2024 | -69.86 Mn |
| Mar 31, 2024 | -69.04 Mn |
| Dec 31, 2023 | -72.58 Mn |
| Jun 30, 2023 | -75.54 Mn |
| Mar 31, 2023 | -75.78 Mn |
| Dec 31, 2022 | -73.63 Mn |
| Sep 30, 2022 | -61.21 Mn |
| Jun 30, 2022 | -62.88 Mn |
| Mar 31, 2022 | -64.10 Mn |
| Dec 31, 2021 | -29.31 Mn |
| Sep 30, 2021 | -62.73 Mn |
| Jun 30, 2021 | -100.74 Mn |
| Mar 31, 2021 | -87.01 Mn |
| Dec 31, 2020 | -69.82 Mn |