Vnet (VNET) Research & Development (2010 - 2025)

Vnet has disclosed Research & Development across 16 years of filings, most recently posting -$11.2 million for Q4 2025.

• Research & Development for Q4 2025 came in at -$11.2 million, down 46.38% year-over-year; the trailing twelve-month figure through Dec 2025 was -$36.7 million (down 7.24% YoY), and the FY2025 annual result was $37.3 million, up 10.53% from the prior year.
• Research & Development came in at -$11.2 million for Q4 2025 at Vnet, down from -$10.0 million in the prior quarter.
• In the past five years, Research & Development ranged from a high of -$5.1 million in Q1 2021 to a low of -$12.2 million in Q4 2022.
• The 5-year median for Research & Development is -$10.2 million (2022), against an average of -$9.5 million.
• Across the five-year window, Research & Development slumped 316.53% in 2021 and jumped 42.45% in 2025, its largest moves.
• Vnet's Research & Development stood at -$9.9 million in 2021, then decreased by 23.32% to -$12.2 million in 2022, then climbed by 6.86% to -$11.4 million in 2023, then surged by 32.36% to -$7.7 million in 2024, then tumbled by 46.38% to -$11.2 million in 2025.
• The last three Research & Development figures came in at -$11.2 million (Q4 2025), -$10.0 million (Q3 2025), and -$9.4 million (Q2 2025), per Business Quant data.