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	73.04	569.64	1,037	2,071	2,535
Gross Profit	1,050	112.52	-53.55	-89.48	-1,388
Selling, General & Admin	157.48	323.59	457.45	488.69	298.36
Research & Development	342.32	20.87	41.21	66.57	-
Operating Expenses	499.8	344.45	498.66	555.26	298.36
Operating Income	550.64	-231.93	-552.21	-644.74	-1,687
Interest Expense	-22.55	-20.08	-14.42	-19.88	-21.13
Currency Exchange Gain (Loss)	-	-4.4	7.9	-2.5	-5.3
Other Non Operating Income (Expenses)	40.63	44.84	30	13.47	-1.53
EBT Excluding Unusual Items	568.73	-211.56	-528.73	-653.65	-1,715
Merger & Restructuring Charges	-	-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	93.50%	16.50%	-5.44%	-4.52%	-121.10%
Operating Margin	49.01%	-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	578.25	-183.44	-510.99	-615.68	-1,674
EBITDA Margin	51.47%	-26.89%	-51.94%	-31.07%	-146.03%
D&A For EBITDA	27.61	48.5	41.23	29.05	12.66
EBIT	550.64	-231.93	-552.21	-644.74	-1,687
EBIT Margin	49.01%	-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	-	33.7	91.5	84	8.9

Updated Feb 26, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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