EVAX (Evaxion Biotech A/S) Stock Financials & Earnings | Market Cap Arena

EVAX (Evaxion Biotech A/S) Stock Financials & Earnings | Market Cap Arena

EVAXEvaxion Biotech A/S

Mkt Cap$20M

Healthcare·Biotechnology·🇩🇰 Denmark·NASDAQ

Revenue (TTM)$8M

Net Income (TTM)-$8M

EPS (TTM)-$1.21

Free Cash Flow (TTM)-$7M

Gross Margin0.0%

Op. Margin-122.7%

Net Margin-102.4%

FCF Margin-88.2%

P/S Ratio (TTM)2.7x

P/E Ratio (TTM)—

YoY Rev Growth+125.8%

Employees—

Earnings Reports

Next: Q1 2026 · Apr 7

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$0	$0	-$7M
Q2 23	$0	$0	-$6M
Q3 23	$0	$0	-$6M
Q4 23	$73K	$73K	-$4M
Q1 24	$51K	$51K	-$4M
Q2 24	$154K	$154K	-$5M
Q3 24	$3M	$3M	-$2M
Q4 24	$122K	$122K	-$4M
Q1 25	$0	$0	-$4M
Q2 25	$37K	$37K	-$4M
Q3 25	$7M	$7M	$3M
Q4 25	$22K	-$8M	-$4M

Valuation

Quarter	P/S	P/E
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	279.1x	—
Q1 24	164.3x	—
Q2 24	73.3x	—
Q3 24	6.2x	—
Q4 24	6.1x	—
Q1 25	6.2x	—
Q2 25	6.4x	—
Q3 25	2.7x	—
Q4 25	2.7x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$0	$0
Q2 23	$0	$0
Q3 23	-$4M	-$4M
Q4 23	-$2M	-$2M
Q1 24	$0	$0
Q2 24	$0	$0
Q3 24	$0	$0
Q4 24	$0	$0
Q1 25	$0	$0
Q2 25	$0	$0
Q3 25	$0	$0
Q4 25	-$7M	-$7M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$0
Q2 23	$0
Q3 23	$65K
Q4 23	$1K
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$0
Q1 25	$0
Q2 25	$0
Q3 25	$0
Q4 25	$11K

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	—	+2.0%
Q2 23	—	-9.3%
Q3 23	—	-5.3%
Q4 23	—	-32.0%
Q1 24	—	-31.8%
Q2 24	—	-16.6%
Q3 24	—	-17.6%
Q4 24	+67.1%	-6.6%
Q1 25	-100.0%	-13.0%
Q2 25	-76.0%	-7.6%
Q3 25	+148.3%	-5.9%
Q4 25	-81.9%	-1.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	—
Q2 23	$0	—
Q3 23	$100K	—
Q4 23	-$21K	-28.8%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	—
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 23	$4M	$2M	—
Q2 23	$3M	$3M	—
Q3 23	$3M	$3M	—
Q4 23	$2M	$2M	—
Q1 24	$3M	$2M	—
Q2 24	$3M	$2M	—
Q3 24	$3M	$2M	—
Q4 24	$2M	$2M	—
Q1 25	$2M	$2M	—
Q2 25	$2M	$2M	—
Q3 25	$3M	$1M	—
Q4 25	$2M	—	$1M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$10M	$0	$10M
Q2 23	$7M	$0	$7M
Q3 23	$3M	$0	$3M
Q4 23	$6M	$0	$6M
Q1 24	$12M	$0	$12M
Q2 24	$8M	$0	$8M
Q3 24	$5M	$0	$5M
Q4 24	$5M	$0	$5M
Q1 25	$18M	$0	$18M
Q2 25	$15M	$0	$15M
Q3 25	$11M	$0	$11M
Q4 25	$23M	$0	$23M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	645K	+6.8%
Q2 23	677K	+5.0%
Q3 23	691K	+2.2%
Q4 23	683K	-1.2%
Q1 24	1M	+70.6%
Q2 24	1M	+16.0%
Q3 24	1M	+2.1%
Q4 24	1M	-22.3%
Q1 25	1M	+3.0%
Q2 25	1M	+0.0%
Q3 25	1M	+0.0%
Q4 25	6M	+479.8%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 18	—	—
FY 19	—	—
FY 20	$0	35
FY 21	$0	61
FY 22	$0	63
FY 23	$1K	49
FY 24	$73K	46
FY 25	$168K	45