Company / R&D Expense
Lipocine Inc. R&D Expense History
FY2013-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$7.4M
FY2025
5-year range
$7.4M / $10.2M
FY2021-FY2025
Trend
-27.7%
vs FY2024
Sector context
Sector data unavailable
Latest sector comparison
What the data says
R&D Expense has fluctuated over the past 9 years, ranging from $2M in FY2013 to $10M in FY2024.
Based on SEC 10-K filings.
$7M in FY2025 with a 5-year CAGR of -0.3%.
Declined from $9M to $7M over the past 2 years.
R&D Expense over time
Growth rates
- 3-Year CAGR
- -1.4%
- 5-Year CAGR
- -0.3%
- 10-Year CAGR
- -
Key checks
Key Insights
- 5-year CAGR of -0.3%, indicating a declining trend.
- In FY2025, r&d expense decreased 27.7% year-over-year.
- Peak r&d expense was recorded in FY2024.
- Lowest r&d expense in the period was in FY2013.
Company context
Key Data Points
- Altman Z-Score -1.16 (distress zone, below 1.8 threshold)
- Low earnings quality (accrual-heavy earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $7.4M | -27.7% |
| FY2024 | $10.2M | +18.9% |
| FY2023 | $8.6M | +11.6% |
| FY2022 | $7.7M | -21.4% |
| FY2021 | $9.7M | +30.5% |
| FY2020 | $7.5M | +15.5% |
| FY2019 | $6.5M | -20.0% |
| FY2018 | $8.1M | +254.0% |
| FY2013 | $2.3M | - |
As of FY2025 · SEC 10-K · Updated Jun 24, 2026