Canada’s Top 100 Corporate R&D Spenders 2021
Top Corporate R&D Spenders by Tier - Winners Circle




  Top Corporate R&D Spenders by Tier FY2020
R&D Spending FY2020

Rank Tier 1 $000
1 Magna International Inc. $1,113,445
2 Constellation Software Inc. $808,925
3 Shopify Inc. $740,678
 
Rank Tier 2 $000
1 Teck Resources Limited $97,000
2 Evertz Technologies Limited $90,827
3 Enghouse Systems Limited $79,757
 
Rank Tier 3 $000
1 Westport Fuel Systems Inc. $28,139
2 Mediagrif Interactive Technologies Inc. $27,870
3 Pason Systems Inc. $26,977
R&D Spending Growth
(% Change FY2019-FY2020)
Rank Tier 1 %
1 Shopify Inc. 57.2
2 Zymeworks Inc. 46.9
3 Magna International Inc. 31.1
 
Rank Tier 2 %
1 Canopy Growth Corporation 305.6
2 AbCellera Biologics Inc. 193.8
3 Repare Therapeutics Inc. 91.9
 
Rank Tier 3 %
1 Knight Therapeutics Inc. 199.6
2 Cardiol Therapeutics Inc. 197.9
3 Q4 Inc. 102.0
R&D Intensity* FY2020
(R&D Spending as % of Revenue)
Rank Tier 1 %
1 Zymeworks Inc. 432.7
2 BlackBerry Limited 24.1
3 Shopify Inc. 18.8
 
Rank Tier 2 %
1 Liminal BioSciences Inc. 1,766.5
2 Arbutus Biopharma Corporation 1,349.2
3 Aurinia Pharmaceuticals Inc. 100.4
 
Rank Tier 3 %
1 Titan Medical Inc. 39.7
2 Mediagrif Interactive Technologies Inc. 36.9
3 Magnet Forensics Inc. 31.7

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)

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