What is Novavax's EBITDA?

Novavax (NVAX) reported EBITDA of -$12.37M in Q1 2026.

How has Novavax's EBITDA changed year-over-year?

Novavax's EBITDA decreased by 102.4% year-over-year, from $523.85M to -$12.37M.

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

Over 4 years (2021 to 2025), Novavax's EBITDA has grown at a -26.8% compound annual growth rate (CAGR), from -$1.67B to $480.41M.

What does EBITDA mean?

Earnings before interest, taxes, depreciation, and amortization — EBIT plus the D&A add-back from the cash-flow statement (EBITDA = EBIT + D&A). A proxy for cash earnings that strips out financing, tax, and non-cash charges.

Novavax NVAX EBITDA

EBITDA at other companies

Vaxcyte, Inc.PCVX

-$342.9M-92.8%

Viridian Therapeutics, Inc.VRDN

-$116.05M-23.8%

ALN

Alnylam PharmaceuticalsALNY

$282.19M+769%

ModernaMRNA

——

Merck & Co.MRK

——

Gilead SciencesGILD

——

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

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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+41.0%

Enterprise value$1.53B+83.6%

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

Calculated from Novavax’s reported figures.

−$15.4Mebit+

$3.1MDepreciation Depletion & Amortization

=-$12.37M

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 EBITDA?: Novavax (NVAX) reported EBITDA of -$12.37M in Q1 2026.
How has Novavax's EBITDA changed year-over-year?: Novavax's EBITDA decreased by 102.4% year-over-year, from $523.85M to -$12.37M.
What is the long-term trend for Novavax's EBITDA?: Over 4 years (2021 to 2025), Novavax's EBITDA has grown at a -26.8% compound annual growth rate (CAGR), from -$1.67B to $480.41M.
What does EBITDA mean?: Earnings before interest, taxes, depreciation, and amortization — EBIT plus the D&A add-back from the cash-flow statement (EBITDA = EBIT + D&A). A proxy for cash earnings that strips out financing, tax, and non-cash charges.