What is Novavax's pre-tax income?

Novavax (NVAX) reported pre-tax income of -$8.51M in Q1 2026.

How has Novavax's pre-tax income changed year-over-year?

Novavax's pre-tax income decreased by 101.6% year-over-year, from $519.85M to -$8.51M.

What is the long-term trend for Novavax's pre-tax income?

Over 4 years (2021 to 2025), Novavax's pre-tax income has grown at a -28.7% compound annual growth rate (CAGR), from -$1.71B to $442.17M.

What does pre-tax income mean?

Total income from all sources — operating income plus non-operating items like interest income, investment gains, and other income — before the provision for income taxes.

Novavax NVAX Pre-Tax Income

Pre-Tax Income at other companies

ModernaMRNA

-$1.33B-38.4%

Merck & Co.MRK

-$3.53B-160%

ALN

Alnylam PharmaceuticalsALNY

$221.65M+9,460%

Gilead SciencesGILD

$2.58B+56.5%

Nektar TherapeuticsNKTR

-$43.09M+7.1%

ImmunityBio, Inc.IBRX

-$632.79M-387%

Other financials

Income statement

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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

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Operating cash flow-$32.4M+82.5%

CapEx$1.3M-20.4%

Free cash flow-$33.7M+82.0%

Valuation

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Market cap$1.46B+41.0%

Enterprise value$1.53B+83.6%

P/S2.5×+1.6×

Profitability

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Gross margin85%-2.5pp

Operating margin-13.1%-45.9pp

Net margin-14.7%-52.9pp

FCF margin-58.9%-61.4pp

Returns & leverage

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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:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest.

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 pre-tax income?: Novavax (NVAX) reported pre-tax income of -$8.51M in Q1 2026.
How has Novavax's pre-tax income changed year-over-year?: Novavax's pre-tax income decreased by 101.6% year-over-year, from $519.85M to -$8.51M.
What is the long-term trend for Novavax's pre-tax income?: Over 4 years (2021 to 2025), Novavax's pre-tax income has grown at a -28.7% compound annual growth rate (CAGR), from -$1.71B to $442.17M.
What does pre-tax income mean?: Total income from all sources — operating income plus non-operating items like interest income, investment gains, and other income — before the provision for income taxes.