Quick Answer
LUDWIG ENTERPRISES, INC. reported R&D Expense of $231.6 thousand for fiscal year 2025.
LUDWIG ENTERPRISES, INC. R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $231.6K | +39.8% |
| 2024 | $165.6K | +64.3% |
| 2024 | $100.8K | -75.5% |
| 2023 | $411.0K | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $80.3K | +90.8% | +5.6% |
| June 30, 2025 | $76.1K | +6.3% | +2.5% |
| March 31, 2025 | $74.2K | — | +76.3% |
| September 30, 2024 | $42.1K | +22.0% | -41.2% |
| June 30, 2024 | $71.6K | — | +107.4% |
| September 30, 2023 | $34.5K | — | — |
- LUDWIG ENTERPRISES, INC. showed an increase of +39.8% in R&D Expense compared to the prior fiscal year.
- Over the 2023–2025 period, LUDWIG ENTERPRISES, INC.’s r&d expense has declined by 43.7% (from $411.0 thousand to $231.6 thousand).
- The most recent figure is from LUDWIG ENTERPRISES, INC.’s fiscal year 2025 report (Form 10-K), filed with the SEC on March 16, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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