Zkh (ZKH) Research & Development (2022 - 2026)
Zkh's (ZKH) quarterly Research & Development came in at -$4.3 million in Q1 2026, up 22.07% YoY from -$3.5 million in Q1 2025, and up 32.54% on a QoQ basis from -$6.3 million in Q4 2025.
Zkh (ZKH) Research & Development (2022 - 2026) Analysis & Trends
Zkh (ZKH) has 5 years of Research & Development data on file, last reported at -$4.3 million in Q1 2026.
- Quarterly Research & Development rose 22.07% year-over-year to -$4.3 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was -$22.0 million (up 6.39% YoY) and the FY2025 annual result came in at -$23.7 million, down 1.93% from the prior year.
- Research & Development rose to -$4.3 million in Q1 2026, from -$6.3 million in the prior quarter.
- In the past five years, Research & Development ranged from a high of -$4.3 million in Q1 2026 to a low of -$8.4 million in Q4 2022.
- A 5-year average of -$6.0 million and a median of -$5.7 million in 2024 frame the typical range for Research & Development.
- Annual changes were most pronounced in 2023 — Research & Development surged 36.31% — and 2024, when it dropped 15.69%.
- Tracing ZKH's Research & Development over 5 years: stood at -$8.4 million in 2022, then jumped by 36.31% to -$5.3 million in 2023, then dropped by 6.53% to -$5.7 million in 2024, then fell by 11.06% to -$6.3 million in 2025, then soared by 32.54% to -$4.3 million in 2026.
- The last three Research & Development figures came in at -$4.3 million (Q1 2026), -$6.3 million (Q4 2025), and -$5.7 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,965.03 Bn | 2,842.04 Bn | 198.88 Bn | 62.73 Bn |
| 2 | PDD Holdings | 507.22 Bn | 447.68 Bn | 9.83 Bn | -714.26 Mn |
| 3 | Mercadolibre | 96.32 Bn | 81.13 Bn | 4.16 Bn | 1.13 Bn |
| 4 | DoorDash | 91.60 Bn | 86.26 Bn | 2.35 Bn | 821.00 Mn |
| 5 | JD.com | 87.39 Bn | 58.21 Bn | 7.66 Bn | -995.00 Mn |
| 6 | Sea | 76.05 Bn | 67.53 Bn | 3.15 Bn | -1.41 Bn |
| 7 | Ebay | 47.42 Bn | 44.12 Bn | 2.30 Bn | 697.00 Mn |
| 8 | Coupang | 29.48 Bn | 23.37 Bn | 2.49 Bn | - |
| 9 | Zkh | 15.80 Bn | 15.80 Bn | 51.11 Mn | -4.25 Mn |
| 10 | Wayfair | 13.89 Bn | 12.75 Bn | 1.05 Bn | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -4.25 Mn |
| Dec 31, 2025 | -6.31 Mn |
| Sep 30, 2025 | -5.67 Mn |
| Jun 30, 2025 | -5.79 Mn |
| Mar 31, 2025 | -5.46 Mn |
| Dec 31, 2024 | -5.68 Mn |
| Sep 30, 2024 | -7.09 Mn |
| Jun 30, 2024 | -5.29 Mn |
| Mar 31, 2024 | -5.52 Mn |
| Dec 31, 2023 | -5.33 Mn |
| Sep 30, 2023 | -6.13 Mn |
| Jun 30, 2023 | -6.56 Mn |
| Mar 31, 2023 | -6.98 Mn |
| Dec 31, 2022 | -8.37 Mn |