Valneva SE Income Statement

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

Millions EUR. 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
Operating Revenue	157.91	163.25	144.62	114.8	62.98
Other Revenue	16.75	6.33	9.09	246.51	285.1
Revenue	174.66	169.58	153.71	361.3	348.09
Revenue Growth (YoY)	3.00%	10.32%	-57.46%	3.80%	215.52%
Cost of Revenue	192.44	172.68	160.77	429.36	361.2
Gross Profit	-17.78	-3.1	-7.06	-68.06	-13.12
Selling, General & Admin	74.68	95.11	96.55	57.58	71.25
Other Operating Expenses	-10.83	-111.98	-21.54	-12.24	-20.42
Operating Expenses	63.85	-16.88	75.01	45.35	50.83
Operating Income	-81.63	13.78	-82.07	-113.41	-63.95
Interest Expense	-41.9	-23.98	-23.33	-19.05	-16.96
Interest & Investment Income	1.8	2.36	1.21	0.26	0.25
Earnings From Equity Investments	-	-	-	0.01	-0.01
Currency Exchange Gain (Loss)	7.2	-3.19	5.57	-12.59	8.13
Other Non Operating Income (Expenses)	-	-0	-0	-	0
EBT Excluding Unusual Items	-114.53	-11.04	-98.61	-144.78	-72.54
Gain (Loss) on Sale of Investments	0.84	-	-	-	-
Gain (Loss) on Sale of Assets	-0.43	-0.45	-0.02	-0.04	-0.04
Other Unusual Items	-	-	-	-	2.6
Pretax Income	-114.12	-11.49	-98.63	-144.82	-69.98
Income Tax Expense	1.07	0.76	2.8	-1.54	3.45
Net Income	-115.19	-12.25	-101.43	-143.28	-73.43
Net Income to Common	-115.19	-12.25	-101.43	-143.28	-73.43
Shares Outstanding (Basic)	168	146	139	115	98
Shares Outstanding (Diluted)	168	146	139	115	98
Shares Change (YoY)	15.42%	5.11%	20.05%	18.29%	7.56%
EPS (Basic)	-0.68	-0.08	-0.73	-1.24	-0.75
EPS (Diluted)	-0.68	-0.08	-0.73	-1.24	-0.75
Free Cash Flow	-57.31	-81.08	-216.98	-274.59	-15.33
Free Cash Flow Per Share	-0.34	-0.56	-1.56	-2.38	-0.16
Gross Margin	-10.18%	-1.83%	-4.59%	-18.84%	-3.77%
Operating Margin	-46.74%	8.12%	-53.39%	-31.39%	-18.37%
Profit Margin	-65.95%	-7.22%	-65.99%	-39.66%	-21.09%
Free Cash Flow Margin	-32.81%	-47.81%	-141.16%	-76.00%	-4.40%
EBITDA	-64.7	28.48	-64.48	-99.39	-49.67
EBITDA Margin	-37.05%	16.79%	-41.95%	-27.51%	-14.27%
D&A For EBITDA	16.93	14.71	17.58	14.01	14.28
EBIT	-81.63	13.78	-82.07	-113.41	-63.95
EBIT Margin	-46.74%	8.12%	-53.39%	-31.39%	-18.37%
Revenue as Reported	174.66	169.58	153.71	361.3	348.09
Advertising Expenses	9.04	16.78	13.36	7.34	2.18

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