Quick Answer
Rafael Holdings, Inc. reported R&D Expense of $12.82 million for fiscal year 2025.
Rafael Holdings, Inc. R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $12.82M | +207.5% |
| 2024 | $4.17M | -33.9% |
| 2023 | $6.31M | -27.8% |
| 2022 | $8.74M | +78.2% |
| 2021 | $4.91M | +105.2% |
| 2020 | $2.39M | +132.8% |
| 2019 | $1.03M | +3.2% |
| 2018 | $995.0K | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| January 31, 2026 | $4.53M | +378.2% | -39.5% |
| October 31, 2025 | $7.48M | +464.4% | +149.2% |
| April 30, 2025 | $3.00M | +96.8% | +217.1% |
| January 31, 2025 | $947.0K | +54.7% | -28.6% |
| October 31, 2024 | $1.33M | +171.2% | -13.1% |
| April 30, 2024 | $1.53M | +106.2% | +149.3% |
| January 31, 2024 | $612.0K | -72.5% | +25.2% |
| October 31, 2023 | $489.0K | -76.5% | -33.9% |
- Rafael Holdings, Inc. showed an increase of +207.5% in R&D Expense compared to the prior fiscal year.
- Over the 2018–2025 period, Rafael Holdings, Inc.’s r&d expense has grown by 1188.7% (from $995.0 thousand to $12.82 million).
- The most recent figure is from Rafael Holdings, Inc.’s fiscal year 2025 report (Form 10-K), filed with the SEC on October 29, 2025.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
Last verified: