Company / R&D Expense
Vaxart, Inc. R&D Expense History
FY2011-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$201.6M
FY2025
5-year range
$12.4M / $201.6M
FY2021-FY2025
Trend
+171.6%
vs FY2024
Sector context
Sector data unavailable
Latest sector comparison
What the data says
R&D Expense has increased for 3 consecutive years, from $12M in FY2017 to $202M in FY2025.
Based on SEC 10-K filings.
$202M in FY2025 with a 10-year CAGR of +26.1%.
Improved from $17M to $202M over the past 7 years.
R&D Expense over time
Growth rates
- 3-Year CAGR
- -
- 5-Year CAGR
- -
- 10-Year CAGR
- +26.1%
Key checks
Key Insights
- Vaxart, Inc.'s r&d expense has grown for 3 consecutive years.
- In FY2025, r&d expense increased 171.6% year-over-year.
- Lowest r&d expense in the period was in FY2017.
Company context
Key Data Points
- Altman Z-Score 0.04 (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 | $201.6M | +171.6% |
| FY2024 | $74.2M | +329.6% |
| FY2018 | $17.3M | +39.8% |
| FY2017 | $12.4M | -53.0% |
| FY2016 | $26.3M | +32.8% |
| FY2015 | $19.8M | +13.1% |
| FY2014 | $17.5M | -12.1% |
| FY2013 | $19.9M | -40.6% |
| FY2011 | $33.5M | - |
As of FY2025 · SEC 10-K · Updated Jun 29, 2026