Novavax, Inc.
HealthcareNASDAQ:NVAX · NASDAQ Global Select
-$0.15 today
Vol 2.59M · Avg 4.61M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Earnings Waterfall
Revenue to Net Income
Key Ratios
Analysis
$596.3M of revenue converted into -$87.8M of net income for the selected period. Gross margin is 81.1% and net margin is -59.4%, showing how much revenue survives after costs and taxes. EPS is $-0.60, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1B +64.7% | $682.2M +22.6% | $556.4M -65.2% | $1.6B +709.3% | $197.6M | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $71.1M -64.9% | $202.7M -41.0% | $343.8M -61.9% | $902.6M | $0 | $725.6M | $804.0M | $882.4M |
| Gross Profit | $1.1B +119.5% | $479.4M +125.5% | $212.6M -69.5% | $696.3M +252.4% | $197.6M | $8.9B | $7.6B | $6.2B |
| Gross Margin | 93.7% +23.4pp | 70.3% +32.1pp | 38.2% -5.3pp | 43.5% -56.5pp | 100.0% | 9.8% | 28.9% | 38.3% |
| Research & Development | $336.8M -13.9% | $391.2M -47.0% | $737.5M -40.3% | $1.2B -51.3% | $2.5B | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $150.3M -55.4% | $337.2M -28.1% | $468.9M -4.0% | $488.7M +63.8% | $298.4M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $489.1M -32.9% | $728.4M -6.5% | $779.1M -41.9% | $1.3B -28.8% | $1.9B | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $27.6M -43.1% | $48.5M +17.6% | $41.2M +41.9% | $29.1M +129.5% | $12.7M | $374.2M | $1.2B | $631.8M |
| EBITDA | $492.3M +555.7% | -$108.0M +77.8% | -$487.4M +19.4% | -$604.7M +64.0% | -$1.7B | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 43.8% +59.7pp | -15.8% +71.8pp | -87.6% -49.8pp | -37.8% +812.8pp | -850.7% | 5.6% | 46.3% | 42.0% |
| Operating Income | $563.3M +326.3% | -$248.9M +56.1% | -$566.5M +12.1% | -$644.7M +61.8% | -$1.7B | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 50.1% +86.6pp | -36.5% +65.3pp | -101.8% -61.5pp | -40.3% +813.3pp | -853.6% | 16.6% | 24.1% | 22.0% |
| Interest Income | $0 | $0 | $0 | $0 | $0 | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $22.5M +12.3% | $20.1M +39.3% | $14.4M -27.5% | $19.9M -5.9% | $21.1M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$121.1M -267.5% | $72.3M +208.0% | $23.5M +363.5% | -$8.9M +68.1% | -$28.0M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $442.2M +350.4% | -$176.6M +67.5% | -$543.0M +16.9% | -$653.6M +61.9% | -$1.7B | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 39.4% +65.2pp | -25.9% +71.7pp | -97.6% -56.7pp | -40.9% +826.9pp | -867.8% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $1.9M -82.9% | $10.9M +435.9% | $2.0M -52.7% | $4.3M -85.3% | $29.2M | $1.3B | -$1.6B | $745.2M |
| Net Income | $440.3M +334.8% | -$187.5M +65.6% | -$545.1M +17.2% | -$657.9M +62.3% | -$1.7B | $4.9B | $4.8B | $4.7B |
| Net Margin | 39.2% +66.7pp | -27.5% +70.5pp | -98.0% -56.8pp | -41.1% +841.4pp | -882.5% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $3 +321.1% | -$1 +77.3% | -$5 +35.7% | -$8 +64.1% | -$23 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $3 +306.5% | -$1 +77.3% | -$5 +35.7% | -$8 +64.1% | -$23 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $162.0M +6.4% | $152.2M +51.0% | $100.8M +28.9% | $78.2M +5.1% | $74.4M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $173.1M +13.7% | $152.2M +51.0% | $100.8M +28.9% | $78.2M +5.1% | $74.4M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Terns Pharmaceuticals, Inc.
TERN
$4.77B
Trevi Therapeutics, Inc.
NASDAQ:TRVI
$2.02B
Intellia Therapeutics, Inc.
NASDAQ:NTLA
$1.36B
Precigen, Inc.
NASDAQ:PGEN
$1.34B
Nektar Therapeutics
NASDAQ:NKTR
$1.16B
Wave Life Sciences Ltd.
NASDAQ:WVE
$1.13B
CureVac N.V.
CVAC
$1.05B
Zenas BioPharma, Inc.
NASDAQ:ZBIO
$883.93M
ORIC Pharmaceuticals, Inc.
NASDAQ:ORIC
$856.09M
Upstream Bio, Inc.
UPB
$331.96M
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does NVAX generate?
Novavax, Inc. (NVAX) reported $1.12B of revenue in fiscal 2025.
Is NVAX profitable?
Novavax, Inc. (NVAX) reported $440.30M of net income, with a net margin of 39.2%.
Explore More
Continue the stock analysis
Jump to another research area for this company.