Novavax, Inc. (NVAX)

NASDAQ: NVAX · Real-Time Price · USD

10.11

+0.11 (1.10%)

At close: Sep 18, 2026, 4:00 PM EDT

10.06

-0.05 (-0.49%)

Pre-market: Sep 21, 2026, 4:02 AM EDT

Novavax Financials Overview

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

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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	413.8	1,123	682.16	983.71	1,982	1,146
Revenue Growth	-61.64%	64.69%	-30.65%	-50.37%	72.89%	141.02%
Gross Profit	-10.58	713.62	91.65	-94.77	-89.48	-1,388
Operating Income	-119.38	563.24	-231.93	-552.21	-644.74	-1,687
Net Income	-247.73	440.3	-187.5	-545.06	-657.94	-1,744
Earnings Per Share	-1.52	2.58	-1.23	-5.41	-8.42	-23.44
EPS Growth	-	-	-	-	-	-

Revenue by Geography

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
United States	302.55	405.61	522.54	443.89
Europe	25.29	15.74	96.14	271.96
Rest of The World	85.96	126.46	59.02	254.46
Rest of North America	-	575.67	4.46	13.39
Total	413.8	1,123	682.16	983.71

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Cash & Investments	719.34	735.08	923.12	568.51	1,337	1,515
Total Debt	297.32	278.05	263.47	280.64	616.73	524.09
Net Cash (Debt)	422.02	457.04	659.65	287.87	720.15	991.03
Net Cash Growth	9.96%	-30.71%	129.15%	-60.03%	-27.33%	332.45%
Net Cash Per Share	2.59	2.64	4.33	2.86	9.21	13.32

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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 Cash Flow	-36.9	-244.64	-87.26	-713.97	-415.94	322.95
Capital Expenditures	-5.3	-5.56	-13.06	-53.77	-89.06	-54.5
Free Cash Flow	-42.2	-250.2	-100.32	-767.74	-504.99	268.45
Free Cash Flow Growth	-	-	-	-	-	-

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Gross Margin	-2.56%	63.52%	13.44%	-9.63%	-4.52%	-121.10%
Operating Margin	-28.85%	50.13%	-34.00%	-56.14%	-32.53%	-147.13%
Pretax Margin	-59.28%	39.36%	-25.89%	-55.20%	-32.98%	-149.57%
Profit Margin	-59.87%	39.19%	-27.49%	-55.41%	-33.20%	-152.12%
FCF Margin	-10.20%	-22.27%	-14.71%	-78.05%	-25.48%	23.42%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 21, 2026	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
PE Ratio	-	2.48	-	-	-	-
Forward PE	-	8.33	28.96	3.15	3.15	10.46
P/FCF Ratio	-	-	-	-	-	40.30
PS Ratio	4.03	0.97	1.89	0.58	0.45	9.44