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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% | - | 65.2% |
| 2024 | $0M | $-554M | $-464M | $-572M | -14.0% | - | 15.3% |
| 2023 | $0M | $-383M | $-402M | $-365M | -32.4% | - | 80.0% |
| 2022 | $0M | $-214M | $-223M | $-176M | -23.4% | - | - |
| 2021 | - | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 0 | 0 | 0 | 0 |
| Operating Revenue | - | 0 | 0 | 0 | 0 |
| Operating Expense | - | 209.26 | 393.04 | 569.55 | 923.68 |
| Research And Development | - | 169.45 | 332.34 | 476.64 | 794.31 |
| Selling General And Administration | - | 39.81 | 60.70 | 92.90 | 129.37 |
| Total Expenses | - | 209.26 | 393.04 | 569.55 | 923.68 |
| Operating Income | - | -209.26 | -393.04 | -569.55 | -923.68 |
| Total Operating Income As Reported | - | -232.26 | -468.04 | -569.55 | -923.68 |
| EBITDA | - | -214.03 | -382.87 | -553.70 | -898.82 |
| Normalized EBITDA | - | -191.04 | -307.87 | -553.70 | -898.82 |
| EBIT | - | -223.48 | -393.04 | -569.55 | -923.68 |
| Interest Income | - | 8.36 | 62.91 | 109.99 | 119.72 |
| Interest Expense | 0.01 | 0 | 0 | 0 | - |
| Net Interest Income | - | 8.35 | 62.91 | 109.99 | 119.72 |
| Other Non Operating Income Expenses | - | 0.42 | 2.87 | -4.38 | 37.33 |
| Other Income Expense | - | -22.58 | -72.13 | -4.38 | 37.33 |
| Interest Income Non Operating | - | 8.36 | 62.91 | 109.99 | 119.72 |
| Interest Expense Non Operating | 0.01 | 0 | 0 | 0 | - |
| Net Non Operating Interest Income Expense | - | 8.35 | 62.91 | 109.99 | 119.72 |
| Pretax Income | - | -223.48 | -402.27 | -463.93 | -766.63 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -223.48 | -402.27 | -463.93 | -766.63 |
| Net Income From Continuing And Discontinued Operation | - | -223.48 | -402.27 | -463.93 | -766.63 |
| Net Income From Continuing Operation Net Minority Interest | - | -223.48 | -402.27 | -463.93 | -766.63 |
| Net Income | - | -223.48 | -402.27 | -463.93 | -766.63 |
| Net Income Common Stockholders | - | -223.48 | -402.27 | -463.93 | -766.63 |
| Net Income Including Noncontrolling Interests | - | -223.48 | -402.27 | -463.93 | -766.63 |
| Normalized Income | - | -200.49 | -327.27 | -463.93 | -766.63 |
| Diluted NI Availto Com Stockholders | - | -223.48 | -402.27 | -463.93 | -766.63 |
| Basic Average Shares | - | 64.88 | 97.16 | 122 | 136.09 |
| Diluted Average Shares | - | 64.88 | 97.16 | 122 | 136.09 |
| Reconciled Depreciation | - | 9.45 | 10.17 | 15.84 | 24.86 |
| Total Unusual Items | - | -23 | -75 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | - | -23 | -75 | 0 | 0 |
| Special Income Charges | - | -23 | -75 | 0 | 0 |
| Restructuring And Mergern Acquisition | - | 23 | 75 | 0 | 0 |
| Gain On Sale Of Security | 1.67 | -1.47 | -1.90 | - | - |
| General And Administrative Expense | - | 39.81 | 60.70 | 92.90 | 129.37 |
| Other Gand A | - | 39.81 | 60.70 | 92.90 | 129.37 |
| Gain On Sale Of Ppe | 0 | -0.04 | 0 | - | - |
| Other Operating Expenses | -1.58 | -1.93 | -4.76 | - | - |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Vaxcyte, Inc.this co. | PCVX | $7.0B | -9.18 | 2.62 | -28.5% | -7.77 |
| Praxis Precision Medicines, Inc. | PRAX | $7.4B | -24.34 | 8.41 | -34.5% | -21.54 |
| HealthEquity, Inc. | HQY | $7.2B | 33.42 | 3.41 | 10.2% | 16.10 |
| Oscar Health, Inc. | OSCR | $7.1B | -16.06 | 7.28 | -45.3% | - |
| Apogee Therapeutics, Inc. | APGE | $6.9B | -26.79 |
| - |
| - |
| - |
| 7.58 |
| -28.3% |
| -23.68 |
| Spyre Therapeutics, Inc. | SYRE | $6.8B | - | 9.53 | -21.7% | - |
| Arcellx, Inc. | ACLX | $6.7B | -29.41 | 16.73 | -56.9% | -30.17 |
| Immunovant, Inc. | IMVT | $6.7B | -13.27 | 7.87 | -59.3% | -10.90 |
| Lantheus Holdings, Inc. | LNTH | $6.7B | 28.66 | 6.14 | 21.4% | 17.23 |
| Peer Median | - | -16.06 | 7.72 | -31.4% | -16.22 | |