Novavax Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	1,123	682.16	983.71	1,982	1,146
Revenue Growth (YoY)	64.69%	-30.65%	-50.37%	72.89%	141.02%
Cost of Revenue	395.79	569.64	1,037	2,071	2,535
Gross Profit	727.69	112.52	-53.55	-89.48	-1,388
Selling, General & Admin	150.38	323.59	457.45	488.69	298.36
Research & Development	14.07	20.87	41.21	66.57	-
Operating Expenses	164.45	344.45	498.66	555.26	298.36
Operating Income	563.24	-231.93	-552.21	-644.74	-1,687
Interest Expense	-22.55	-20.08	-14.42	-19.88	-21.13
Currency Exchange Gain (Loss)	-16.7	-4.4	7.9	-2.5	-5.3
Other Non Operating Income (Expenses)	57.33	44.84	30	13.47	-1.53
EBT Excluding Unusual Items	581.33	-211.56	-528.73	-653.65	-1,715
Merger & Restructuring Charges	-12.6	-17	-14.3	-	-
Gain (Loss) on Sale of Assets	-97.85	51.95	-	-	-
Other Unusual Items	-28.71	-	-	-	-
Pretax Income	442.17	-176.62	-543.03	-653.65	-1,715
Income Tax Expense	1.87	10.88	2.03	4.29	29.22
Net Income	440.3	-187.5	-545.06	-657.94	-1,744
Net Income to Common	440.3	-187.5	-545.06	-657.94	-1,744
Shares Outstanding (Basic)	162	152	101	78	74
Shares Outstanding (Diluted)	173	152	101	78	74
Shares Change (YoY)	13.74%	51.03%	28.89%	5.08%	29.27%
EPS (Basic)	2.72	-1.23	-5.41	-8.42	-23.44
EPS (Diluted)	2.58	-1.23	-5.41	-8.42	-23.44
Free Cash Flow	-250.2	-100.32	-767.74	-504.99	268.45
Free Cash Flow Per Share	-1.45	-0.66	-7.62	-6.46	3.61
Gross Margin	64.77%	16.50%	-5.44%	-4.52%	-121.10%
Operating Margin	50.13%	-34.00%	-56.14%	-32.53%	-147.13%
Profit Margin	39.19%	-27.49%	-55.41%	-33.20%	-152.12%
Free Cash Flow Margin	-22.27%	-14.71%	-78.05%	-25.48%	23.42%
EBITDA	590.85	-183.44	-510.99	-615.68	-1,674
EBITDA Margin	52.59%	-26.89%	-51.94%	-31.07%	-146.03%
D&A For EBITDA	27.61	48.5	41.23	29.05	12.66
EBIT	563.24	-231.93	-552.21	-644.74	-1,687
EBIT Margin	50.13%	-34.00%	-56.14%	-32.53%	-147.13%
Effective Tax Rate	0.42%	-	-	-	-
Revenue as Reported	1,123	682.16	983.71	1,982	1,146
Advertising Expenses	1.9	33.7	91.5	84	8.9

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.