Boast Releases 2026 R&D Tax Credit Benchmark Report, Revealing $900M+ in Credits Secured Across North America

Why It Matters

The surge in claim sizes and broader adoption signals that R&D tax credits are becoming a critical, non‑dilutive financing source for North American innovators, especially SMBs. Companies that optimize their credit strategy can unlock significant capital while reducing audit risk.

Key Takeaways

• $900M+ R&D credits claimed in 2024 across North America.
• Average claim value rose 245% since 2018, now $768k.
• Software firms account for 80.6% of claims, lowest audit rate.
• 90% of claims filed by SMBs, driving innovation funding.
• Multi‑jurisdiction strategies boost recoveries 30‑50%.

Pulse Analysis

The R&D tax credit has long been a cornerstone of fiscal policy aimed at spurring private‑sector innovation, yet many firms still treat it as an afterthought. Boast’s 2026 Benchmark Report, built on 6,907 verified claims covering $3.6 billion in R&D spend, shines a light on how companies are finally treating the credit as a strategic financing tool. By aggregating real‑world data from 2,298 North American businesses, the study provides a rare, transaction‑level view that goes beyond survey speculation, revealing the true scale of non‑dilutive capital flowing into the ecosystem.

The numbers tell a compelling story. Average claim size has exploded 245 % since 2018, reaching $768 k per filing, and total credits secured topped $900 million in 2024. Software and internet firms dominate the landscape, representing more than 80 % of all claims while enjoying the lowest audit exposure at just over 5 %. Small and mid‑sized enterprises generate 90 % of the activity, underscoring their role as the primary engine of innovation funding. Companies that coordinate filings across federal, state and provincial programs see recoveries 30‑50 % higher, confirming the value of a multi‑jurisdiction approach.

For executives, the report signals a clear competitive imperative: integrate R&D tax credit planning into the broader capital strategy. Faster processing—up to three months shorter for optimized firms—means quicker cash flow to reinvest in product development or hiring. As capital costs rise and venture funding tightens, the credit offers a reliable, non‑dilutive source of runway. Firms that pair AI‑driven data collection with seasoned tax specialists are best positioned to maximize recoveries while minimizing audit risk, a formula Boast argues will define the next wave of innovation financing.