PCVX

MKT CAP:$8B

Vaxcyte, Inc.

Market Cap

$8B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$60.77+$14.31 (+30.80%)

Apr 23, 2026

Company Details

Vaxcyte, Inc., a clinical-stage biotechnology vaccine company, develops novel protein vaccines to prevent or treat bacterial infectious diseases. Its lead vaccine candidate is VAX-24, a 24-valent investigational pneumococcal conjugate vacci...

CEO

Grant E. Pickering

IPO Date

Jun 12, 2020

Website

vaxcyte.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$767M

EPS (Diluted)

-$5.63

Free Cash Flow

-$669M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q1 2026

May 6, 2026

PENDING

FY 2025

Feb 24, 2026

$0EPS -$5.63

Q4 2025

Feb 24, 2026

$0EPS -$1.81

Q3 2025

Nov 4, 2025

$0EPS -$1.56

Q2 2025

Aug 6, 2025

$0EPS -$1.22

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$0	$0	-$39M
Q2 22	$0	$0	-$48M
Q3 22	$0	$0	-$59M
Q4 22	$0	$0	-$87M
Q1 23	$0	$0	-$71M
Q2 23	$0	$0	-$87M
Q3 23	$0	$0	-$113M
Q4 23	$0	$0	-$197M
Q1 24	$0	$0	-$114M
Q2 24	$0	$0	-$153M
Q3 24	$0	$0	-$140M
Q4 24	$0	$0	-$162M
Q1 25	$0	$0	-$181M
Q2 25	$0	-$5M	-$226M
Q3 25	$0	$0	-$242M
Q4 25	$0	$5M	-$274M

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$28M	-$31M
Q2 22	-$39M	-$40M
Q3 22	-$39M	-$39M
Q4 22	-$65M	-$66M
Q1 23	-$48M	-$53M
Q2 23	-$63M	-$61M
Q3 23	-$58M	-$65M
Q4 23	-$129M	-$186M
Q1 24	-$159M	-$171M
Q2 24	-$121M	-$167M
Q3 24	-$61M	-$99M
Q4 24	-$111M	-$141M
Q1 25	-$166M	-$193M
Q2 25	-$121M	-$102M
Q3 25	-$143M	-$155M
Q4 25	-$225M	-$219M

Capital Expenditures

Quarter	CapEx
Q1 22	$3M
Q2 22	$938.0K
Q3 22	$843.0K
Q4 22	$1M
Q1 23	$6M
Q2 23	$2M
Q3 23	$7M
Q4 23	$57M
Q1 24	$12M
Q2 24	$45M
Q3 24	$38M
Q4 24	$30M
Q1 25	$27M
Q2 25	$20M
Q3 25	$12M
Q4 25	$6M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	—	+69.5%
Q2 22	—	+101.8%
Q3 22	—	+117.3%
Q4 22	—	+190.1%
Q1 23	—	+81.5%
Q2 23	—	+82.0%
Q3 23	—	+93.0%
Q4 23	—	+127.2%
Q1 24	—	+60.8%
Q2 24	—	+75.5%
Q3 24	—	+23.8%
Q4 24	—	-17.5%
Q1 25	—	+57.9%
Q2 25	—	+47.9%
Q3 25	—	+73.2%
Q4 25	—	+69.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$4M	—
Q2 22	$6M	—
Q3 22	$7M	—
Q4 22	$7M	—
Q1 23	$10M	—
Q2 23	$13M	—
Q3 23	$13M	—
Q4 23	$13M	—
Q1 24	$18M	—
Q2 24	$22M	—
Q3 24	$21M	—
Q4 24	$24M	—
Q1 25	$31M	—
Q2 25	$37M	—
Q3 25	$35M	—
Q4 25	$36M	—

OpEx Breakdown

Quarter	R&D	G&A
Q1 22	$32M	$8M
Q2 22	$38M	$9M
Q3 22	$48M	$11M
Q4 22	$52M	$12M
Q1 23	$58M	$13M
Q2 23	$73M	$14M
Q3 23	$97M	$16M
Q4 23	$104M	$18M
Q1 24	$95M	$20M
Q2 24	$132M	$21M
Q3 24	$117M	$23M
Q4 24	$134M	$29M
Q1 25	$148M	$33M
Q2 25	$194M	$32M
Q3 25	$210M	$32M
Q4 25	$242M	$32M

Revenue Segments

Quarter	Pneumococcal Conjugate Vaccine
Q1 22	$7.0B
Q2 22	$7.0B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$202M	$133M	$335M
Q2 22	$238M	$116M	$354M
Q3 22	$278M	$84M	$362M
Q4 22	$835M	$97M	$931M
Q1 23	$380M	$442M	$822M
Q2 23	$531M	$756M	$1.3B
Q3 23	$545M	$721M	$1.3B
Q4 23	$397M	$683M	$1.1B
Q1 24	$612M	$875M	$1.5B
Q2 24	$519M	$934M	$1.5B
Q3 24	$1.1B	$1.1B	$2.2B
Q4 24	$388M	$1.4B	$1.7B
Q1 25	$347M	$1.3B	$1.7B
Q2 25	$307M	$1.4B	$1.7B
Q3 25	$281M	$1.4B	$1.7B
Q4 25	$174M	$1.4B	$1.6B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	58M	+5.1%	+12.5%
Q2 22	61M	+5.7%	+18.1%
Q3 22	62M	+1.9%	+18.8%
Q4 22	76M	+21.9%	+38.0%
Q1 23	86M	+14.1%	+49.8%
Q2 23	98M	+13.7%	+61.2%
Q3 23	102M	+3.7%	+64.0%
Q4 23	104M	+2.7%	+38.2%
Q1 24	112M	+7.0%	+29.6%
Q2 24	117M	+5.0%	+19.6%
Q3 24	124M	+5.5%	+21.7%
Q4 24	123M	-0.7%	+17.6%
Q1 25	136M	+10.5%	+21.5%
Q2 25	136M	+0.3%	+16.0%
Q3 25	136M	+0.1%	+10.1%
Q4 25	136M	-0.1%	+10.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$0	89
Q2 22	$0	89
Q3 22	$0	89
Q4 22	$0	158
Q1 23	$0	158
Q2 23	$0	158
Q3 23	$0	158
Q4 23	$0	254
Q1 24	$0	254
Q2 24	$0	254
Q3 24	$0	254
Q4 24	$0	414
Q1 25	$0	414
Q2 25	$0	414
Q3 25	$0	414
Q4 25	$0	507

Revenue / Employee