What is Novavax's deferred revenue?

Novavax (NVAX) reported deferred revenue of $88.77M in Q1 2026.

How has Novavax's deferred revenue changed year-over-year?

Novavax's deferred revenue decreased by 18.1% year-over-year, from $108.33M to $88.77M.

What is the long-term trend for Novavax's deferred revenue?

Over 5 years (2020 to 2025), Novavax's deferred revenue has grown at a -14.1% compound annual growth rate (CAGR), from $300M to $140.05M.

What does deferred revenue mean?

Payments received from customers for goods or services to be delivered within one year — recognized as revenue as performance obligations are satisfied.

Novavax NVAX Deferred Revenue

Deferred Revenue at other companies

ModernaMRNA

$102M-18.4%

Viridian Therapeutics, Inc.VRDN

$274K-4.9%

ALN

Alnylam PharmaceuticalsALNY

$3.21M-88.6%

BioCryst PharmaceuticalsBCRX

$5.41M—

Roivant SciencesROIV

——

Segments

By product

See full

Transition Services$2.5M-88.1%

Other financials

Income statement

See full

Revenue$139.5M-79.1%

Gross profit$108.8M-83.3%

Operating income-$15.4M-103%

Net income-$9.5M-102%

EPS (diluted)-$0.06-102%

Balance sheet

See full

Cash & equivalents$228.4M-13.3%

Total debt$295.1M+404%

Total equity-$144.8M-91.4%

Total assets$1.0B-19.3%

Cash flow

See full

Operating cash flow-$32.4M+82.5%

CapEx$1.3M-20.4%

Free cash flow-$33.7M+82.0%

Valuation

See full

Market cap$1.46B+35.6%

Enterprise value$1.53B+76.9%

P/S2.5×+1.6×

Profitability

See full

Gross margin85%-2.5pp

Operating margin-13.1%-45.9pp

Net margin-14.7%-52.9pp

FCF margin-58.9%-61.4pp

Returns & leverage

See full

Return on equity-238.6%—

Debt / equity1.5×—

Current ratio2.5×+0.4×

Where this comes from

Reported directly by Novavax in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiabilityCurrent.

The official record: Novavax’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Novavax's deferred revenue?: Novavax (NVAX) reported deferred revenue of $88.77M in Q1 2026.
How has Novavax's deferred revenue changed year-over-year?: Novavax's deferred revenue decreased by 18.1% year-over-year, from $108.33M to $88.77M.
What is the long-term trend for Novavax's deferred revenue?: Over 5 years (2020 to 2025), Novavax's deferred revenue has grown at a -14.1% compound annual growth rate (CAGR), from $300M to $140.05M.
What does deferred revenue mean?: Payments received from customers for goods or services to be delivered within one year — recognized as revenue as performance obligations are satisfied.