Company / R&D Expense
Voyager Therapeutics, Inc. R&D Expense History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$92.2M
FY2025
5-year range
$60.8M / $119.7M
FY2021-FY2025
Trend
+51.7%
vs FY2024
Sector context
Sector data unavailable
Latest sector comparison
What the data says
R&D Expense returned to growth in FY2025 after 3 years of decline, reaching $92M.
Based on SEC 10-K filings.
$92M in FY2025 with a 5-year CAGR of +7.3%.
Improved from $74M to $92M over the past 2 years.
R&D Expense over time
Growth rates
- 3-Year CAGR
- -5.4%
- 5-Year CAGR
- +7.3%
- 10-Year CAGR
- -
Key checks
Key Insights
- 5-year CAGR of +7.3%, indicating consistent growth.
- In FY2025, r&d expense increased 51.7% year-over-year.
- Peak r&d expense was recorded in FY2021.
- Lowest r&d expense in the period was in FY2016.
Company context
Key Data Points
- Altman Z-Score 0.34 (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 | $92.2M | +51.7% |
| FY2024 | $60.8M | -17.6% |
| FY2023 | $73.8M | -32.2% |
| FY2022 | $108.8M | -9.2% |
| FY2021 | $119.7M | +84.5% |
| FY2020 | $64.9M | +4.2% |
| FY2019 | $62.3M | +47.4% |
| FY2018 | $42.2M | +52.6% |
| FY2017 | $27.7M | +211.1% |
| FY2016 | $8.9M | +284.2% |
As of FY2025 · SEC 10-K · Updated Jun 28, 2026