RLX Technology (RLX) Research & Development (2019 - 2026)

RLX Technology (RLX) reported Research & Development of -$4.4 million for Q1 2026, down 18.11% on a YoY basis from -$5.4 million in Q1 2025, and up 5.66% quarter-over-quarter from -$4.7 million in Q4 2025.

RLX Technology (RLX) Research & Development (2019 - 2026) Analysis & Trends

RLX Technology has reported Research & Development for 8 years, with the latest figure at -$4.4 million in Q1 2026.

  • For the quarter ending Q1 2026, Research & Development fell 18.11% year-over-year to -$4.4 million; the trailing twelve-month figure through Mar 2026 stood at -$19.1 million (down 63.75% YoY), and the FY2025 full-year result was $18.7 million, up 54.85% from the prior year.
  • Research & Development for Q1 2026 stood at -$4.4 million, up from -$4.7 million in the prior quarter.
  • The five-year high for Research & Development was $5000.0 in Q2 2024, with the low at -$18.8 million in Q4 2022.
  • Historically, Research & Development has averaged -$6.2 million across 5 years, with a median of -$4.4 million in 2026.
  • Annual changes were most pronounced in 2024 — Research & Development jumped 100.08% — and 2025, when it tumbled 84040.0%.
  • RLX Technology's Research & Development stood at -$18.8 million in 2022, then soared by 83.58% to -$3.1 million in 2023, then plunged by 43.76% to -$4.4 million in 2024, then decreased by 5.23% to -$4.7 million in 2025, then advanced by 5.66% to -$4.4 million in 2026.
  • The last three Research & Development figures came in at -$4.4 million (Q1 2026), -$4.7 million (Q4 2025), and -$5.8 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) R&D (Qtr)
1 Philip Morris International 277.78 Bn 274.30 Bn 6.91 Bn -
2 Altria 120.77 Bn 117.29 Bn 3.51 Bn -
3 British American Tobacco p.l.c 45.84 Bn 40.53 Bn - -
4 Turning Point Brands 1.66 Bn 1.49 Bn 68.30 Mn -
5 Universal 1.35 Bn 1.30 Bn 98.47 Mn -
6 RLX Technology 355.86 Mn -269.04 Mn 73.10 Mn -4.40 Mn
7 Ispire Technology 97.40 Mn 79.11 Mn 1.99 Mn -
8 Rythm 54.37 Mn 21.11 Mn 10.40 Mn -
9 Greenlane Holdings 11.69 Mn -26.54 Mn 217,000.00 -
10 22nd Century 2.50 Mn -7.04 Mn -636,000.00 285,000.00

Historic Data

Download Data
DateValue
Mar 31, 2026 -4.40 Mn
Dec 31, 2025 -4.67 Mn
Sep 30, 2025 -5.79 Mn
Jun 30, 2025 -4.20 Mn
Mar 31, 2025 -3.73 Mn
Dec 31, 2024 -4.44 Mn
Sep 30, 2024 -3.48 Mn
Jun 30, 2024 5,000.00
Mar 31, 2024 -4.37 Mn
Dec 31, 2023 -3.09 Mn
Sep 30, 2023 -4.22 Mn
Jun 30, 2023 -5.97 Mn
Mar 31, 2023 -11.17 Mn
Dec 31, 2022 -18.78 Mn
Sep 30, 2022 -6.46 Mn
Jun 30, 2022 -17.55 Mn
Mar 31, 2022 -3.79 Mn
Dec 31, 2021 -2.79 Mn
Sep 30, 2021 6.92 Mn
Jun 30, 2021 761,000.00