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Novavax NVAX Q3 2025 earnings

Reported November 6, 2025 · Before market open

Revenue$70.4MMiss by $19.8M
EPS-$0.62Beat by $0.46
Revenue estimate$90.3M
EPS estimate-$1.08

Next report

Nov 5, 2026 (in 2 months)
Revenue estimate$72.7M
EPS estimate-$0.37

Financials

Q3 2025

Income statement

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Revenue$70.4M-16.6%
Gross profit$48.9M+105%
Operating income-$178.0M-32.8%
Net income-$202.4M-66.8%
EPS (diluted)-$1.25-64.5%

Balance sheet

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Cash & equivalents$268.0M-53.3%
Total debt$7.3M-88.6%
Total equity-$156.7M+70.2%
Total assets$1.2B-31.1%

Cash flow

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CapEx$1.4M-0.7%

Valuation & ratios

Valuation

as of 09/30/25
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Market cap$1.41B-30.4%
Enterprise value$1.15B-24.1%
P/E4.1×—
P/S1.3×-1.0×

Profitability

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Gross margin91.8%+28.0pp
Operating margin28.9%+18.7pp
Net margin32.1%+21.4pp

Returns & leverage

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Current ratio2.3×+1.3×

Segments

By geography

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Rest of the world$13.0M+12.1%
Europe$655.0K-63.9%

By product

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Milestones$4.7M—
Royalties$4.2M—

By segment

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Reportable Segment$70.4M-16.6%

FAQ

When did Novavax report Q3 2025 earnings?
Novavax (NVAX) reported Q3 2025 earnings on November 6, 2025 before market open.
What were Novavax's Q3 2025 revenue and EPS?
Novavax reported revenue of $70.4M and eps of $-0.62 for Q3 2025.
Did Novavax beat estimates in Q3 2025?
Revenue missed the consensus estimate of $90.3M by $19.8M. EPS beat the consensus estimate of $-1.08 by $0.46.
How did Novavax's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 16.6% from $84.5M a year earlier and eps grew 18.4% from $-0.76.
Where can I find Novavax's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001104659-25-105818) and the 10-Q periodic report (0001000694-25-000046) directly on SEC EDGAR. The filing index links above go to sec.gov.