People (PPLI) Research & Development (2019 - 2026)
People's Research & Development was $33.69 million in Q2 2026, down 1.4% from $34.16 million a year earlier and down 15.1% from the prior quarter.
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Analysis
People (PPLI) Research & Development (2019 - 2026) Analysis & Trends
On a trailing twelve-month basis, People's Research & Development was $169.36 million through Jun 30, 2026, down 6.7% year-over-year; for FY2025, it came in at $196.02 million, down 14.1% from FY2024.
- Research & Development has now declined for three consecutive years, though with a five-year compound annual growth rate of 1.1% (FY2020 to FY2025).
- In earlier years, Research & Development was $228.33 million in FY2024 (-4.0%), $237.95 million in FY2023 (-25.2%), $318.03 million in FY2022 (+37.8%) and $230.81 million in FY2021 (+24.5%).
- The Q2 2026 figure marks the lowest quarterly Research & Development since Q4 2023.
- Compared with a year earlier, Research & Development was higher in 1 of the last seven quarters, with an average decline of 18.6%.
- The best year-over-year quarter for Research & Development over five years was Q4 2021 (growth of 82.3%); the worst was Q1 2025 (a decline of 43.5%).
- Per Business Quant data, PPLI's Research & Development in the three quarters before Q2 2026 was $39.7 million (Q1 2026), $46.5 million (Q4 2025) and $49.49 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,126.42 Bn | 3,883.94 Bn | 73.85 Bn | 18.22 Bn |
| 2 | Meta Platforms | 1,763.57 Bn | 1,466.09 Bn | 49.47 Bn | 21.66 Bn |
| 3 | Netflix | 287.17 Bn | 247.37 Bn | 6.52 Bn | 1.01 Bn |
| 4 | Alibaba Group Holding | 252.08 Bn | 65.86 Bn | 15.11 Bn | -3.32 Bn |
| 5 | Shopify | 224.54 Bn | 201.72 Bn | 1.71 Bn | 445.00 Mn |
| 6 | Uber Technologies | 140.28 Bn | 112.08 Bn | 6.38 Bn | 1.04 Bn |
| 7 | Booking Holdings | 125.81 Bn | 58.86 Bn | - | - |
| 8 | PDD Holdings | 114.10 Bn | -129.68 Bn | 9.45 Bn | -673.00 Mn |
| 9 | Spotify Technology | 108.24 Bn | 65.74 Bn | 1.86 Bn | 468.43 Mn |
| 10 | People | 2.94 Bn | -1.24 Bn | 280.20 Mn | 33.69 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 33.69 Mn |
| Mar 31, 2026 | 39.70 Mn |
| Dec 31, 2025 | 46.50 Mn |
| Sep 30, 2025 | 49.49 Mn |
| Jun 30, 2025 | 34.16 Mn |
| Mar 31, 2025 | 35.74 Mn |
| Dec 31, 2024 | 57.76 Mn |
| Sep 30, 2024 | 53.95 Mn |
| Jun 30, 2024 | 53.38 Mn |
| Mar 31, 2024 | 63.24 Mn |
| Dec 31, 2023 | -12.95 Mn |
| Sep 30, 2023 | 79.71 Mn |
| Jun 30, 2023 | 86.40 Mn |
| Mar 31, 2023 | 84.79 Mn |
| Dec 31, 2022 | 77.41 Mn |
| Sep 30, 2022 | 75.43 Mn |
| Jun 30, 2022 | 84.91 Mn |
| Mar 31, 2022 | 84.20 Mn |
| Dec 31, 2021 | 73.22 Mn |
| Sep 30, 2021 | 52.28 Mn |
API Access
People Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=PPLI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "PPLI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=PPLI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();