Yatsen Holding (YSG) Research & Development (2019 - 2025)

Yatsen Holding's Research & Development history runs 7 years deep, the most recent figure standing at -$127.8 million for Q4 2025.

• On a quarterly basis, Research & Development fell 35.09% year-over-year to -$127.8 million in Q4 2025; TTM through Dec 2025 was -$400.8 million, a 27.37% decrease from a year earlier, with the FY2025 full-year figure at $407.9 million, up 2624.23% from the prior year.
• Research & Development fell to -$127.8 million in Q4 2025 per YSG's latest filing, from -$95.8 million in the prior quarter.
• Across five years, Research & Development topped out at -$66.8 million in Q1 2023 and bottomed at -$169.4 million in Q4 2021.
• The 5-year median for Research & Development is -$94.0 million (2022), against an average of -$99.7 million.
• Across the five-year window, Research & Development tumbled 99.32% in 2021 and surged 54.2% in 2022, its largest moves.
• Year by year, Research & Development stood at -$169.4 million in 2021, then soared by 54.2% to -$77.6 million in 2022, then tumbled by 30.21% to -$101.0 million in 2023, then increased by 6.37% to -$94.6 million in 2024, then tumbled by 35.09% to -$127.8 million in 2025.
• Per Business Quant, the three latest YSG Research & Development figures stand at -$127.8 million (Q4 2025), -$95.8 million (Q3 2025), and -$100.8 million (Q2 2025).