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Novavax, Inc., a biotechnology company, engages in the discovery, development, and commercialization of vaccines to prevent serious infectious diseases in the United States, Europe, and internationally. The company commercializes Nuvaxovid, a COVID-19 vaccine; and R21 Matrix-M adjuvant malaria vaccine. It has license and collaboration agreements with Sanofi, Pfizer Inc., Takeda Pharmaceutical Company Limited, and Serum Life Sciences Limited for the to develop, manufacture, and commercialize the COVID-19 vaccine. The company was incorporated in 1987 and is headquartered in Gaithersburg, Maryland.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 5 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.1B | $492M | $440M | $-251M | -344.7% | 64.7% | -334.8% |
| 2024 | $682M | $-108M | $-187M | $-102M | 30.1% | 22.6% | -65.6% |
| 2023 | $556M | $-487M | $-545M | $-773M | 76.0% | -65.2% | -17.2% |
| 2022 | $1.6B | $-605M | $-658M | $-509M | 103.8% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2025 |
|---|---|
| Total Revenue | 1,123.48 |
| Operating Revenue | 1,123.48 |
| Cost Of Revenue | 73.04 |
| Gross Profit | 1,050.44 |
| Operating Expense | 499.80 |
| Research And Development | 342.32 |
| Selling General And Administration | 157.48 |
| Total Expenses | 572.84 |
| Operating Income | 550.64 |
| Total Operating Income As Reported | 452.80 |
| EBITDA | 492.33 |
| Normalized EBITDA | 618.89 |
| EBIT | 464.71 |
| Interest Expense | 22.55 |
| Net Interest Income | -22.55 |
| Other Non Operating Income Expenses | 40.63 |
| Other Income Expense | -85.93 |
| Interest Expense Non Operating | 22.55 |
| Net Non Operating Interest Income Expense | -22.55 |
| Pretax Income | 442.17 |
| Tax Provision | 1.86 |
| Tax Rate For Calcs | 0 |
| Tax Effect Of Unusual Items | 0 |
| Net Income Continuous Operations | 440.30 |
| Net Income From Continuing And Discontinued Operation | 440.30 |
| Net Income From Continuing Operation Net Minority Interest | 440.30 |
| Net Income | 440.30 |
| Net Income Common Stockholders | 440.30 |
| Net Income Including Noncontrolling Interests | 440.30 |
| Normalized Income | 566.86 |
| Diluted NI Availto Com Stockholders | 445.74 |
| Basic Average Shares | 161.99 |
| Diluted Average Shares | 173.10 |
| Reconciled Depreciation | 27.61 |
| Reconciled Cost Of Revenue | 73.04 |
| Total Unusual Items | -126.56 |
| Total Unusual Items Excluding Goodwill | -126.56 |
| Special Income Charges | -126.56 |
| Other Special Charges | 28.71 |
| Write Off | 97.84 |
| Gain On Sale Of Security | - |
| General And Administrative Expense | - |
| Other Gand A | - |
| Gain On Sale Of Ppe | 0 |
| Other Operating Expenses | - |
| Average Dilution Earnings | 5.44 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Novavax, Inc.this co. | NVAX | $1.7B | 3.81 | -13.12 | -344.7% | 3.42 |
| Biohaven Ltd. | BHVN | $1.7B | -2.32 | 32.96 | -1418.8% | -2.41 |
| Agios Pharmaceuticals, Inc. | AGIO | $1.7B | -4.15 | 1.44 | -34.6% | -3.56 |
| Sionna Therapeutics, Inc. | SION | $1.7B | -22.66 | 5.56 | -24.5% | -18.75 |
| Taysha Gene Therapies, Inc. | TSHA | $1.7B | -15.53 |
| - |
| - |
| - |
| - |
| - |
| 6.85 |
| -44.1% |
| -13.39 |
| Addus HomeCare Corporation | ADUS | $1.7B | 17.46 | 1.54 | 8.8% | 11.20 |
| GeneDx Holdings Corp. | WGS | $1.7B | -79.47 | 5.42 | -6.8% | 138.20 |
| Palvella Therapeutics, Inc. | PVLA | $1.6B | -39.48 | 58.85 | -149.1% | -44.28 |
| Innoviva, Inc. | INVA | $1.6B | 6.03 | 1.39 | 23.1% | 3.66 |
| Peer Median | - | -9.84 | 5.49 | -29.6% | -2.99 | |