Novavax, Inc.NVAXNASDAQ

Revenue (LTM)

$1.1B

+64.7% YoY

Net Income (LTM)

$440M

+334.8% YoY

Free Cash Flow

$-250M

Revenue CAGR (5Y)

+118.8%

Marginsdeclining

FCF($0.3B)

Now profitable

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Revenue	198	1,599↑709.3%	556↓65.2%	682↑22.6%	1,123↑64.7%
Gross Profit	198	696↑252.4%	213↓69.5%	479↑125.5%	1,052↑119.5%
Operating Income	-1,687	-645↑61.8%	-567↑12.1%	-249↑56.1%	563↑326.3%
Net Income	-1,744	-658↑62.3%	-545↑17.2%	-187↑65.6%	440↑334.8%
EBITDA	-1,681	-605↑64.0%	-487↑19.4%	-108↑77.8%	492↑555.7%
EPS Diluted	-23.44	-8.42↑64.1%	-5.41↑35.7%	-1.23↑77.3%	2.54↑306.5%

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Cash & Equivalents	1,515	1,337↓11.8%	569↓57.5%	530↓6.7%	241↓54.6%
Total Current Assets	2,155	1,703↓21.0%	1,144↓32.8%	1,129↓1.3%	978↓13.3%
Total Assets	2,577	2,259↓12.3%	1,797↓20.4%	1,560↓13.2%	1,177↓24.6%
Total Current Liabilities	2,390	2,460↑2.9%	1,635↓33.5%	1,154↓29.4%	460↓60.2%
Total Liabilities	2,928	2,893↓1.2%	2,514↓13.1%	2,184↓13.1%	1,304↓40.3%
Total Equity	-352	-634↓80.3%	-717↓13.1%	-624↑13.0%	-128↑79.5%
Total Debt	454	550↑21.1%	229↓58.3%	230↑0.6%	249↑8.0%
Net Debt	-1,061	-787↑25.8%	-339↑56.9%	-300↑11.7%	8↑102.7%

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Operating Cash Flow	323	-416↓228.8%	-714↓71.7%	-87↑87.8%	-245↓180.3%
Capital Expenditure	-57	-93↓61.8%	-59↑36.8%	-13↑77.8%	-6↑57.4%
Free Cash Flow	265	-509↓291.7%	-773↓51.8%	-100↑87.0%	-250↓149.4%
Stock-Based Comp	184	130↓29.0%	85↓34.5%	48↓43.6%	36↓25.2%
Net Change in Cash	880	-179↓120.4%	-765↓326.4%	-39↑95.0%	-289↓650.9%

Values in millions except EPS · Ratios shown as percentages · Click any metric to drill down

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