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2874 companies · fiscal year 2025 · SEC EDGAR · September 25, 2026

Financials companies that spend the most on R&D

Research and development expense is what the company charged to R&D in the income statement for the year. Most companies report no R&D at all — the line is absent rather than zero — so this ranking covers the roughly 40% of filers that do. Figures are for fiscal year 2025 and are read directly from each company's SEC filings; the source column on every row links to the document.

Ranks 1–45 of 45 · Fiscal year 2025 · Data as of September 25, 2026

Coinbase Global (COIN) tops the list with $1.7B in r&d expense for fiscal 2025, ahead of Chime Financial ($935M) and Sofi Technologies ($648M). The top 10 together report $4.9B in r&d expense; the gap between #1 and #10 is ×11.05. 45 companies in Financials report r&d expense, 3.5% of the 1270-filer universe. The last place on the list, Dominari Holdings, comes in at $3,000.

R&D expense
#CompanyR&D expenseYoY15-year trend
1Coinbase GlobalCOINUS$1.7B+13.8%
2Chime FinancialCHYMUS$935M+202.0%
3Sofi TechnologiesSOFIUS$648M+17.5%
4Robinhood MarketsHOODUS$355M+9.9%
5Dolby LaboratoriesDLBUS$262M−0.7%
6Upstart HoldingsUPSTUS$258M+1.6%
7Futu HoldingsFUTUCN$245M+27.5%
8WealthfrontWLTHUS$212M+229.3%
9InterdigitalIDCCUS$185M−7.6%
10Etoro GroupETORIL$151M+15.4%
11HappenHAPNUS$139M−17.4%
12Up FintechTIGRCN$100M+24.8%
13LemonadeLMNDUS$93.9M+9.4%
14StrategyMSTRUS$93.9M−20.8%
15Lexinfintech HoldingsLXCN$85.1M+7.5%
16Finvolution GroupFINVCN$76.7M+12.8%
17Pagaya TechnologiesPGYUS$75.2M−1.8%
18Figure Technology SolutionsFIGRUS$64.9M+3.6%
19CanaanCANSG$63.1M+3.0%
20Jiayin GroupJFINCN$61.1M+19.7%
21Yiren DigitalYRDCN$58.1M+3.0%
22MorningstarMORNUS$51.4M−3.2%
23LendingtreeTREEUS$45.3M−2.4%
24Digital TurbineAPPSUS$40.5M+2.6%
25WebullBULLUS$35.5M+8.6%
26WaterdropWDHCN$33.3M+12.2%
27Mara HoldingsMARAUS$30.1M+127.7%
28Better Home & FinanceBETRUS$27.9M+6.8%
29Jefferies FinancialJEFUS$17.6M−20.6%
30EhealthEHTHUS$13.8M+11.3%
31Core ScientificCORZUS$11.8M+64.7%
32Huize HoldingHUIZCN$8.4M−1.8%
33Resolute Holdings ManagementRHLDUS$6.6M−11.8%
34Triple Flag Precious MetalsTFPMCA$5.6M+65.9%
35BitfufuFUFUSG$2.5M−54.6%
36American BitcoinABTCUS$2.3M−42.9%
37Athena Bitcoin GlobalABITUS$1.6M+15.0%
38Pra GroupPRAAUS$1.3M0.0%
39CangoCANGUS$748,980−82.3%
40Acacia ResearchACTGUS$735,000+17.4%
41TerawulfWULFUS$671,493−22.8%
42Lesaka TechnologiesLSAKZA$500,0000.0%
43Riot PlatformsRIOTUS$20,033−92.0%
44CleansparkCLSKUS$7,190+1,116.6%
45Dominari HoldingsDOMHUS$3,000−99.6%

All figures from SEC filings · FY2025 · 45

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{{cite web |title=Financials companies that spend the most on R&D |url=https://companiesranked.com/en/financial-companies-that-spend-the-most-on-research-and-development |website=CompaniesRanked |date=2026-09-25 |language=en}}

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CompaniesRanked. (September 25, 2026). Financials companies that spend the most on R&D. CompaniesRanked. https://companiesranked.com/en/financial-companies-that-spend-the-most-on-research-and-development

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@misc{companiesranked-en-financial-companies-that-spend-the-most-on-research-and-development-2026,
  author       = {{CompaniesRanked}},
  title        = {{Financials companies that spend the most on R\&D}},
  year         = {2026},
  howpublished = {\url{https://companiesranked.com/en/financial-companies-that-spend-the-most-on-research-and-development}},
  note         = {Compiled from SEC EDGAR XBRL filings; data as of 2026-09-25},
  urldate      = {2026-09-25}
}

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