Canada’s Top 100 Corporate R&D Spenders 2022
Top Corporate R&D Spenders by Tier - Winners Circle
| Top Corporate R&D Spenders by Tier FY2021 |
R&D Spending
| Rank | Tier 1 | $000 | |
|---|---|---|---|
| 1 | Shopify Inc. | $1,070,969 | |
| 2 | Constellation Software Inc. | $965,195 | |
| 3 | TELUS Corporation | $799,000 | |
| Rank | Tier 2 | $000 | |
| 1 | GlaxoSmithKline Inc. (fs) | $94,137 | |
| 2 | Sierra Wireless, Inc. | $89,741 | |
| 3 | Imperial Oil Limited | $89,000 | |
| Rank | Tier 3 | $000 | |
| 1 | Absolute Software Corporation | $29,161 | |
| 2 | IMV Inc. | $28,931 | |
| 3 | Héroux-Devtek Inc. | $28,534 | |
R&D Spending Growth
(% Change FY2020-FY2021)
(% Change FY2020-FY2021)
| Rank | Tier 1 | % | |
|---|---|---|---|
| 1 | Repare Therapeutics Inc. | 107.8 | |
| 2 | Shopify Inc | 44.6 | |
| 3 | TELUS Corporation | 44.5 | |
| Rank | Tier 2 | % | |
| 1 | MDA Ltd. | 791.9 | |
| 2 | Titan Medical Inc. | 346.9 | |
| 3 | BELLUS Health Inc. | 132.5 | |
| Rank | Tier 3 | % | |
| 1 | Eupraxia Pharmaceuticals Inc. | 501.9 | |
| 2 | Acceleware Corp. | 413.0 | |
| 3 | Edesa Biotech, Inc. | 403.7 | |
R&D Intensity*
(R&D Spending as % of Revenue)
(R&D Spending as % of Revenue)
| Rank | Tier 1 | % | |
|---|---|---|---|
| 1 | Repare Therapeutics Inc.* | 1,199.3 | |
| 2 | Zymeworks Inc. | 748.7 | |
| 3 | BlackBerry Limited | 30.5 | |
| Rank | Tier 2 | % | |
| 1 | Titan Medical Inc. | 188.9 | |
| 2 | Aurinia Pharmaceuticals Inc. | 112.1 | |
| 3 | Ballard Power Systems Inc. | 59.5 | |
| Rank | Tier 3 | % | |
| 1 | Antibe Therapeutics Inc. | 148.6 | |
| 2 | Thinkific Labs Inc. | 51.0 | |
| 3 | mdf commerce inc. | 33.5 | |
Notes:
1. R&D Spending Tiers: Tier 1 = $100 million or more of R&D spending, Tier 2 = $30 million-$99.9 million, Tier 3 = less than $30 million.
*Based on companies with $2 million or more of revenue
fs = Foreign subsidiary (included revenue and R&D spending for Canadian operations only)