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Novavax, Inc.

Novavax, Inc.

NASDAQ•NVAX
CEO: Mr. John Charles Jacobs M.B.A.
Sector: Healthcare
Industry: Biotechnology
Listing Date: 1995-12-05
Novavax, Inc., a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response. It focuses on urgent health challenges, which is evaluating vaccines for COVID-19, influenza, and COVID-19 influenza combination. The company is commercializing a COVID-19 vaccine, NVX-CoV2373 under the brand names of Nuvaxovid, Covovax, and Novavax COVID-19 Vaccine, adjuvanted for adult and adolescent populations as a primary series and for both homologous and heterologous booster indications. It is also developing R21/Matrix-M adjuvant malaria vaccine. Novavax, Inc. was incorporated in 1987 and is headquartered in Gaithersburg, Maryland.
Contact Information
700 Quince Orchard Road, Gaithersburg, MD, 20878, United States
240-268-2000
global.novavax.com
Market Cap
$1.16B
P/E (TTM)
3.4
40.5
Dividend Yield
--
52W High
$11.55
52W Low
$5.01
52W Range
32%
Rank64Top 85.8%
2.1
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 2.1 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q3 2025 Data

Revenue

$70.45M-16.64%
4-Quarter Trend

EPS

-$1.25+64.47%
4-Quarter Trend

FCF

$105.79M-172.05%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Nine Months Net Income Turnaround 9M 2025 Net Income reached $422.8M, reversing prior $106.5M loss; 9M revenue surged $382.5M to $976.3M.
Major Partner Milestones Earned Received $175M Sanofi milestone upon U.S. marketing authorization transfer in Q3 2025; Takeda Japan approval also triggered payment.
Debt Refinancing Completed Completed convertible debt refinancing in August 2025, issuing $225.0M of 2031 Notes, improving maturity profile and financial strength.
Q3 Revenue and Loss Q3 2025 Total Revenue fell $14.1M to $70.4M compared to 2024; Q3 Net Loss widened significantly to $(202.4M)$.

Risk Factors

Q3 Operating Loss Widened Q3 Net Loss increased to $(202.4M)$ from $(121.3M)$ due to $97M asset impairment and $28.7M debt extinguishment loss.
COVID Vaccine Regulatory Risk Evolving regulatory pathway for COVID-19 Vaccine may require unexpected clinical trials, increasing expenses and delaying approvals.
Restructuring Impairment Charge Recorded $97M impairment charge related to corporate HQ facility classified as held for sale during Q3 2025, impacting current results.
Supply Chain Dependence Risk Company significantly depends on supply agreement with SII for co-formulation, filling, and finishing of COVID-19 Vaccine supply.

Outlook

Advance Early Stage Pipeline Pursuing funding for pandemic influenza candidate; advancing preclinical research for Shingles, RSV, and C. Diff combination vaccines.
Sanofi Partnership Optimization Sanofi leads 2025-2026 commercialization in U.S.; expanding license scope to include Matrix-M adjuvant in pandemic influenza program.
Facility Consolidation Savings Announced transactions to consolidate Maryland facilities, expecting $230M cost savings over 11 years starting post-Q4 2025.
Future Capital Requirements Future operations funded by milestones, royalties, and potential capital raises via equity, debt financing, or asset sales.

Peer Comparison

Revenue (TTM)

Novavax, Inc.NVAX
$1.06B
+20.3%
Harmony Biosciences Holdings, Inc.HRMY
$825.94M
+21.1%
BioCryst Pharmaceuticals, Inc.BCRX
$599.82M
+45.4%

Gross Margin (Latest Quarter)

BioCryst Pharmaceuticals, Inc.BCRX
98.6%
+1.4pp
Syndax Pharmaceuticals, Inc.SNDX
95.4%
-4.6pp
Aurinia Pharmaceuticals Inc.AUPH
88.4%
-2.7pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
EWTX$2.51B-16.5-30.6%0.7%
HRMY$2.15B11.824.9%14.0%
AUPH$2.02B27.121.8%14.8%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-7.3%
Growth Under Pressure
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
25%
Cash Flow Needs Attention

Research & Insights

Next earnings:Feb 26, 2026
|
EPS:-$0.66
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 6, 2025|
    Revenue: $70.45M-16.6%
    |
    EPS: $-1.25+64.5%
    Miss

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 6, 2025|
    Revenue: $239.24M-42.4%
    |
    EPS: $0.66-40.5%
    Beat

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 8, 2025|
    Revenue: $666.66M+610.3%
    |
    EPS: $3.22-406.7%
    Beat

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 27, 2025|
    Revenue: $682.16M+22.6%
    |
    EPS: $-1.23+77.3%
    Miss

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 12, 2024|
    Revenue: $84.51M+283.0%
    |
    EPS: $-0.76-39.7%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 8, 2024|
    Revenue: $415.48M-2.1%
    |
    EPS: $1.11+70.8%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 10, 2024|
    Revenue: $93.86M+15.9%
    |
    EPS: $-1.05-69.2%
    Meet

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 28, 2024|
    Revenue: $556.38M-65.2%
    |
    EPS: $-5.41+35.7%
    Miss