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Vaxcyte, Inc., a clinical-stage vaccine innovation company, develops conjugate and novel protein vaccines to prevent or treat bacterial infectious diseases. Its lead vaccine candidate is VAX-24, a 24-valent carrier-sparing investigational pneumococcal conjugate vaccine (PCV) for the prevention of invasive pneumococcal disease (IPD) in infants. The company also develops VAX-31, a 31-valent, carrier-sparing investigational PCV for the prevention of IPD in adults and children; VAX-A1, a novel conjugate vaccine candidate to prevent disease caused by Group A Streptococcus; VAX-PG, a novel protein vaccine candidate targeting the keystone pathogen responsible for periodontitis; VAX-GI, a novel preclinical vaccine candidate for the treatment of dysentery and shigellosis, which is caused by Shigella bacteria; and VAX-XL, a third-generation pneumococcal conjugate vaccine. The company was formerly known as SutroVax, Inc. and changed its name to Vaxcyte, Inc. in May 2020. Vaxcyte, Inc. was incorporated in 2013 and is headquartered in San Carlos, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $0M | $-899M | $-767M | $-713M | -28.5% | - | - |
| 2024 | $0M | $-554M | $-464M | $-572M | -14.0% | - | - |
| 2023 | $0M | $-383M | $-402M | $-365M | -32.4% | - | - |
| 2022 | $0M | $-214M | $-223M | $-176M | -23.4% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 0 | 0 | 0 | 0 |
| Operating Expense | 209.26 | 393.04 | 569.55 | 923.67 |
| Operating Income | -209.26 | -393.04 | -569.55 | -923.67 |
| EBITDA | -214.03 | -382.87 | -553.70 | -898.82 |
| EBIT | -223.48 | -393.04 | -569.55 | -923.67 |
| Pretax Income | -223.49 | -402.27 | -463.93 | -766.63 |
| Net Income | -223.49 | -402.27 | -463.93 | -766.63 |
| Net Income Common Stockholders | -223.49 | -402.27 | -463.93 | -766.63 |
| Total Expenses | 209.26 | 393.04 | 569.55 | 923.67 |
| Interest Expense | 0 | 0 | 0 | 0 |
| Interest Income | 8.36 | 62.91 | 109.99 | 119.72 |
| Research And Development | 169.45 | 332.34 | 476.64 | 794.31 |
| Selling General And Administration | 39.81 | 60.70 | 92.90 | 129.37 |
| Normalized EBITDA | -191.03 | -307.87 | -553.70 | -898.82 |
| Normalized Income | -200.49 | -327.27 | -463.93 | -766.63 |
| Basic EPS | -3.44 | -4.14 | -3.80 | -5.63 |
| Diluted EPS | -3.44 | -4.14 | -3.80 | -5.63 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Total Unusual Items | -23 | -75 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | -23 | -75 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | -223.49 | -402.27 | -463.93 | -766.63 |
| Reconciled Depreciation | 9.45 | 10.17 | 15.85 | 24.86 |
| Net Interest Income | 8.35 | 62.91 | 109.99 | 119.72 |
| Net Income From Continuing And Discontinued Operation | -223.49 | -402.27 | -463.93 | -766.63 |
| Total Operating Income As Reported | -232.26 | -468.04 | -569.55 | -923.67 |
| Diluted Average Shares | 64.88 | 97.16 | 122 | 136.09 |
| Basic Average Shares | 64.88 | 97.16 | 122 | 136.09 |
| Diluted NI Availto Com Stockholders | -223.49 | -402.27 | -463.93 | -766.63 |
| Net Income Including Noncontrolling Interests | -223.49 | -402.27 | -463.93 | -766.63 |
| Net Income Continuous Operations | -223.49 | -402.27 | -463.93 | -766.63 |
| Other Income Expense | -22.58 | -72.13 | -4.38 | 37.33 |
| Other Non Operating Income Expenses | 0.42 | 2.87 | -4.38 | 37.33 |
| Special Income Charges | -23 | -75 | 0 | 0 |
| Gain On Sale Of Ppe | -0.04 | 0 | 0 | 0 |
| Restructuring And Mergern Acquisition | 23 | 75 | 0 | 0 |
| Gain On Sale Of Security | -1.47 | -1.90 | 0 | 0 |
| Net Non Operating Interest Income Expense | 8.35 | 62.91 | 109.99 | 119.72 |
| Interest Expense Non Operating | 0 | 0 | 0 | 0 |
| Interest Income Non Operating | 8.36 | 62.91 | 109.99 | 119.72 |
| Other Operating Expenses | -1.93 | -4.76 | 0 | 0 |
| General And Administrative Expense | 39.81 | 60.70 | 92.90 | 129.37 |
| Other Gand A | 39.81 | 60.70 | 92.90 | 129.37 |
| Operating Revenue | 0 | 0 | 0 | 0 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Vaxcyte, Inc.this co. | PCVX | $8.3B | - | 2.80 | -28.5% | -7.50 |
| Axsome Therapeutics, Inc. | AXSM | $9.5B | - | 106.02 | -207.5% | -58.09 |
| Praxis Precision Medicines, Inc. | PRAX | $9.0B | - | 9.27 | -34.5% | -25.77 |
| Nuvalent, Inc. | NUVL | $7.8B | - | 6.21 | -34.1% | - |
| Cytokinetics, Incorporated | CYTK | $7.4B | - |
| -11.11 |
| 119.0% |
| -13.11 |
| Apogee Therapeutics, Inc. | APGE | $7.3B | - | 6.21 | -28.3% | -17.34 |
| ImmunityBio, Inc. | IBRX | $7.2B | - | -14.06 | 70.3% | -32.25 |
| HealthEquity, Inc. | HQY | $6.9B | 33.12 | 3.29 | 10.2% | 15.69 |
| Arcellx, Inc. | ACLX | $6.7B | - | 16.56 | -56.9% | -25.69 |
| Peer Median | - | 33.12 | 6.21 | -31.2% | -25.69 | |