Joyy (JOYY) Research & Development (2011 - 2026)
Joyy (JOYY) posted quarterly Research & Development of -$61.5 million for Q4 2025, up 8.81% year-over-year from -$56.6 million in Q4 2024, and up 2.47% quarter-over-quarter from -$63.1 million in Q3 2025.
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Joyy (JOYY) Research & Development (2011 - 2026) 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 $297.5 million, down 10.76% from the prior year.
- Research & Development for Q4 2025 stood at -$61.5 million, up from -$63.1 million in the prior quarter.
- The five-year high for Research & Development was -$29.3 million in Q4 2021, with the low at -$100.7 million in Q2 2021.
- The 5-year median for Research & Development is -$68.3 million (2024), against an average of -$68.1 million.
- The sharpest annual moves came in 2021 and 2022: Research & Development surged 58.03% in 2021, then sank 151.23% in 2022.
- Joyy's Research & Development stood at -$29.3 million in 2021, then tumbled by 151.23% to -$73.6 million in 2022, then climbed by 1.42% to -$72.6 million in 2023, then advanced by 7.02% to -$67.5 million in 2024, then gained by 8.81% to -$61.5 million in 2025.
- Business Quant data shows JOYY's Research & Development at -$61.5 million in Q4 2025, -$63.1 million in Q3 2025, and -$60.1 million in Q2 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,083.83 Bn | 3,654.79 Bn | 73.85 Bn | 18.22 Bn |
| 2 | Meta Platforms | 1,456.07 Bn | 1,365.81 Bn | 49.47 Bn | 21.66 Bn |
| 3 | Spotify Technology | 111.71 Bn | 104.79 Bn | 1.86 Bn | 468.43 Mn |
| 4 | Nebius | 50.03 Bn | 40.93 Bn | 448.70 Mn | 191.00 Mn |
| 5 | 28.44 Bn | 25.65 Bn | 734.60 Mn | 231.28 Mn | |
| 6 | Bilibili | 13.59 Bn | 11.45 Bn | 433.97 Mn | -148.13 Mn |
| 7 | Tencent Music Entertainment | 12.71 Bn | 9.21 Bn | 582.00 Mn | -35.00 Mn |
| 8 | 12.21 Bn | 10.93 Bn | 922.30 Mn | 451.01 Mn | |
| 9 | Match | 9.45 Bn | 8.86 Bn | 648.84 Mn | 158.25 Mn |
| 10 | Joyy | 3.93 Bn | 3.42 Bn | 201.60 Mn | -53.02 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -53.02 Mn |
| Mar 31, 2026 | -61.19 Mn |
| 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 |
| Sep 30, 2023 | -71.61 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 |