Qfin Holdings (QFIN) Research & Development (2016 - 2026)
Qfin Holdings' (QFIN) quarterly Research & Development came in at $58.5 million in Q2 2026, down 36.78% year-over-year from $92.5 million in Q2 2025, and down 11.51% quarter-over-quarter from $66.1 million in Q1 2026.
Analysis
Qfin Holdings (QFIN) Research & Development (2016 - 2026) Analysis & Trends
Qfin Holdings has disclosed Research & Development across 11 years of filings, most recently posting $58.5 million for Q2 2026.
- In Q2 2026, Research & Development fell 36.78% year-over-year to $58.5 million; the TTM figure through Jun 2026 stood at $296.7 million (down 2.93% YoY), while the FY2025 annual figure was $353.1 million, up 49.35% from the prior year.
- Research & Development came in at $58.5 million for Q2 2026 at Qfin Holdings, down from $66.1 million in the prior quarter.
- In the past five years, Research & Development ranged from a high of $93.4 million in Q3 2025 to a low of $50.4 million in Q2 2024.
- Average Research & Development over 5 years is $72.7 million, with a median of $72.2 million recorded in 2023.
- Year-over-year, Research & Development slumped 38.93% in 2022 and surged 83.48% in 2025.
- Over 5 years, Research & Development stood at $60.2 million in 2022, then climbed by 29.06% to $77.7 million in 2023, then retreated by 7.61% to $71.8 million in 2024, then gained by 9.68% to $78.7 million in 2025, then retreated by 25.71% to $58.5 million in 2026.
- Per Business Quant data, the three most recent Research & Development figures were $58.5 million in Q2 2026, $66.1 million in Q1 2026, and $78.7 million in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Upstart Holdings | 2.43 Bn | 1.99 Bn | 303.39 Mn | 114.51 Mn |
| 2 | Pagaya Technologies | 1.70 Bn | 1.51 Bn | 168.33 Mn | 17.35 Mn |
| 3 | Qfin Holdings | 986.27 Mn | -9.51 Mn | - | 58.49 Mn |
| 4 | FinVolution | 836.54 Mn | -90.46 Mn | - | -17.53 Mn |
| 5 | X Financial | 386.17 Mn | -182.14 Mn | 84.09 Mn | - |
| 6 | Open Lending | 371.20 Mn | 186.25 Mn | 15.64 Mn | 2.92 Mn |
| 7 | Blend Labs | 279.09 Mn | 234.22 Mn | 24.89 Mn | 8.68 Mn |
| 8 | LexinFintech Holdings | 251.25 Mn | 251.25 Mn | 73.06 Mn | -21.62 Mn |
| 9 | Jiayin | 76.25 Mn | 2.23 Mn | - | -13.89 Mn |
| 10 | Antalpha Platform Holding | 76.02 Mn | -813.69 Mn | 11.94 Mn | 1.35 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 58.49 Mn |
| Mar 31, 2026 | 66.10 Mn |
| Dec 31, 2025 | 78.73 Mn |
| Sep 30, 2025 | 93.39 Mn |
| Jun 30, 2025 | 92.51 Mn |
| Mar 31, 2025 | 81.51 Mn |
| Dec 31, 2024 | 71.78 Mn |
| Sep 30, 2024 | 59.84 Mn |
| Jun 30, 2024 | 50.42 Mn |
| Mar 31, 2024 | 57.56 Mn |
| Dec 31, 2023 | 77.69 Mn |
| Sep 30, 2023 | 72.59 Mn |
| Jun 30, 2023 | 60.19 Mn |
| Mar 31, 2023 | 61.47 Mn |
| Dec 31, 2022 | 60.20 Mn |
| Sep 30, 2022 | 87.74 Mn |
| Jun 30, 2022 | 91.83 Mn |
| Mar 31, 2022 | 87.17 Mn |
| Dec 31, 2021 | 98.57 Mn |
| Sep 30, 2021 | 89.59 Mn |