Rankings
▼
Calendar
NVAX (Novavax, Inc.) Stock Financials & Earnings | Market Cap Arena
NVAX
Novavax, Inc.
Mkt Cap
$2B
Healthcare
·
Biotechnology
·
🇺🇸 United States
·
NASDAQ
Revenue (TTM)
$1.1B
Net Income (TTM)
$440M
EPS (TTM)
$2.39
Free Cash Flow (TTM)
-$251M
Gross Margin
93.3%
Op. Margin
41.3%
Net Margin
39.2%
FCF Margin
-22.3%
P/S Ratio (TTM)
1.5x
P/E Ratio (TTM)
3.9x
YoY Rev Growth
+64.7%
Employees
—
Earnings Reports
▶
Q4 2025
NEW
Browse All Reports
Quarterly
FY
Revenue & Profitability
Revenue
Gross Profit
Operating Income
Quarter
Revenue
Gross Profit
Op. Income
Q1 23
-$6M
-$41M
-$313M
Q2 23
$424M
$369M
$55M
Q3 23
$22M
-$77M
-$126M
Q4 23
$291M
$142M
-$184M
Q1 24
$94M
$45M
-$139M
Q2 24
$415M
$369M
$161M
Q3 24
$85M
$24M
-$134M
Q4 24
$88M
$52M
-$131M
Q1 25
$667M
$653M
$516M
Q2 25
$239M
$225M
$106M
Q3 25
$70M
$49M
-$178M
Q4 25
$147M
$122M
$21M
marketcaparena.com
Revenue Breakdown
NVAX
Novavax, Inc.
Revenue Breakdown
Q4 2025
marketcaparena.com
Valuation
P/S Ratio
P/E Ratio
Quarter
P/S
P/E
Q1 23
1.4x
—
Q2 23
1.2x
—
Q3 23
2.4x
—
Q4 23
2.4x
—
Q1 24
2.1x
—
Q2 24
2.1x
—
Q3 24
2.0x
—
Q4 24
2.5x
—
Q1 25
1.4x
3.6x
Q2 25
1.6x
4.1x
Q3 25
1.6x
5.1x
Q4 25
1.5x
3.9x
marketcaparena.com
Operating Cash Flow
Operating Cash Flow
Free Cash Flow
Quarter
Operating CF
Free CF
Q1 23
-$326M
-$349M
Q2 23
-$172M
-$180M
Q3 23
-$40M
-$58M
Q4 23
-$177M
-$186M
Q1 24
-$84M
-$91M
Q2 24
$314M
$311M
Q3 24
-$145M
-$147M
Q4 24
-$173M
-$175M
Q1 25
-$186M
-$187M
Q2 25
-$127M
-$128M
Q3 25
$108M
$106M
Q4 25
-$39M
-$42M
marketcaparena.com
Capital Expenditures
CapEx
Quarter
CapEx
Q1 23
$24M
Q2 23
$8M
Q3 23
$18M
Q4 23
$9M
Q1 24
$7M
Q2 24
$3M
Q3 24
$2M
Q4 24
$2M
Q1 25
$2M
Q2 25
$247K
Q3 25
$2M
Q4 25
$2M
marketcaparena.com
OpEx vs Revenue Growth (YoY)
Revenue Growth
OpEx Growth
Quarter
Revenue Growth
OpEx Growth
Q1 23
-101.1%
-22.5%
Q2 23
+128.3%
-44.8%
Q3 23
-97.0%
-82.9%
Q4 23
+1.2%
-10.7%
Q1 24
+1560.1%
-24.1%
Q2 24
-2.1%
-31.0%
Q3 24
+283.0%
+48.0%
Q4 24
-69.7%
-53.8%
Q1 25
+610.3%
-35.0%
Q2 25
-42.4%
-47.5%
Q3 25
-16.6%
+13.7%
Q4 25
+66.6%
-42.5%
marketcaparena.com
Stock-Based Compensation
SBC ($)
% of Revenue
Quarter
SBC ($)
% of Revenue
Q1 23
$29M
—
Q2 23
$20M
4.8%
Q3 23
$21M
94.1%
Q4 23
$16M
5.4%
Q1 24
$12M
12.3%
Q2 24
$14M
3.4%
Q3 24
$12M
14.3%
Q4 24
$10M
11.8%
Q1 25
$10M
1.5%
Q2 25
$9M
3.9%
Q3 25
$9M
12.1%
Q4 25
$8M
5.4%
marketcaparena.com
OpEx Breakdown
R&D
SG&A
Quarter
R&D
SG&A
Q1 23
$247M
$113M
Q2 23
$219M
$94M
Q3 23
$106M
$107M
Q4 23
$165M
$155M
Q1 24
$93M
$82M
Q2 24
$107M
$101M
Q3 24
$87M
$71M
Q4 24
$104M
$78M
Q1 25
$89M
$48M
Q2 25
$78M
$41M
Q3 25
$98M
$32M
Q4 25
$74M
$27M
marketcaparena.com
Revenue Segments
Grant
Product
Royalties and Other
Nuvaxovid Sales
Supply Sales
Quarter
Grant
Product
Royalties and Other
Nuvaxovid Sales
Supply Sales
Q2 23
$137M
$285M
$2M
—
—
Q4 23
$38M
$251M
$2M
—
—
Q1 24
—
$82M
$12M
—
—
Q2 24
—
$20M
$396M
—
—
Q3 24
—
$38M
$46M
—
—
Q4 24
—
$50M
$39M
—
—
Q1 25
—
—
$45M
$608M
$14M
marketcaparena.com
Revenue by Geography
Canada
Europe
Rest of the World
United States
Quarter
Canada
Europe
Rest of the World
United States
Q1 25
$576M
$8M
$43M
$39M
Q2 25
—
$4M
$37M
$198M
Q3 25
—
$655K
$13M
$57M
Q4 25
—
$3M
$33M
$111M
marketcaparena.com
War Chest
Cash & Equivalents
Short-Term Investments
Quarter
Cash
Short-term Investments
Total
Q1 23
$625M
$0
$625M
Q2 23
$506M
$0
$506M
Q3 23
$651M
$0
$651M
Q4 23
$569M
$0
$569M
Q1 24
$481M
$0
$481M
Q2 24
$680M
$369M
$1.0B
Q3 24
$574M
$336M
$910M
Q4 24
$530M
$393M
$923M
Q1 25
$263M
$468M
$731M
Q2 25
$254M
$359M
$612M
Q3 25
$268M
$495M
$763M
Q4 25
$241M
$494M
$735M
marketcaparena.com
Shares Outstanding
Shares Outstanding
Quarter
Shares (Diluted)
QoQ Change
Q1 23
86M
+7.9%
Q2 23
104M
+20.8%
Q3 23
103M
-0.6%
Q4 23
124M
+19.6%
Q1 24
140M
+13.1%
Q2 24
166M
+18.5%
Q3 24
160M
-3.5%
Q4 24
160M
+0.1%
Q1 25
178M
+10.8%
Q2 25
177M
-0.2%
Q3 25
162M
-8.4%
Q4 25
173M
+6.6%
marketcaparena.com
Revenue Per Employee
Revenue / Employee
Year
Revenue/Employee
Employees
FY 14
$100K
308
FY 15
$82K
443
FY 16
$43K
355
FY 17
$90K
347
FY 18
$90K
379
FY 19
$113K
165
FY 20
$28K
791
FY 21
$128K
2K
FY 22
$803K
2K
FY 23
$361K
2K
FY 24
$717K
952
FY 25
$1M
749
marketcaparena.com