Company / R&D Expense
Wave Life Sciences Ltd. R&D Expense History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$182.8M
FY2025
5-year range
$121.9M / $182.8M
FY2021-FY2025
Trend
+14.5%
vs FY2024
Sector context
#89 of 210
Health Care
What the data says
At $183M, Wave Life Sciences Ltd.'s r&d expense ranks #89 of 210 in the Health Care sector. R&D Expense has increased for 3 consecutive years, from $122M in FY2022 to $183M in FY2025.
Based on SEC 10-K filings.
$183M in FY2025 with a 5-year CAGR of +0.8%.
Improved from $130M to $183M over the past 2 years.
Health Care sector context is included.
R&D Expense over time
Growth rates
- 3-Year CAGR
- +14.5%
- 5-Year CAGR
- +0.8%
- 10-Year CAGR
- -
Sector benchmark
#89 of 210 in Health CareTop 42% of 210This company $182.8M Sector average $644.1M
▼
-71.6% below sector average
Key checks
Key Insights
- Wave Life Sciences Ltd.'s r&d expense has grown for 3 consecutive years.
- 5-year CAGR of +0.8%, indicating consistent growth.
- In FY2025, r&d expense increased 14.5% year-over-year.
- Ranks #89 out of 210 companies in the Health Care sector.
Company context
Key Data Points
- Low Piotroski F-Score: 2/9 (multiple financial health concerns)
- Altman Z-Score -0.34 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $182.8M | +14.5% |
| FY2024 | $159.7M | +22.8% |
| FY2023 | $130.0M | +6.7% |
| FY2022 | $121.9M | -6.9% |
| FY2021 | $130.9M | -25.4% |
| FY2020 | $175.4M | +121.2% |
| FY2019 | $79.3M | -41.0% |
| FY2018 | $134.4M | +69.5% |
| FY2017 | $79.3M | +94.3% |
| FY2016 | $40.8M | +2025.9% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026