What is Novavax's operating cash flow?

Novavax (NVAX) reported operating cash flow of -$32.42M in Q1 2026.

How has Novavax's operating cash flow changed year-over-year?

Novavax's operating cash flow increased by 82.5% year-over-year, from -$185.5M to -$32.42M.

What is the long-term trend for Novavax's operating cash flow?

Over 2 years (2022 to 2024), Novavax's operating cash flow has grown at a -54.2% compound annual growth rate (CAGR), from -$415.94M to -$87.26M.

What does operating cash flow mean?

Total cash generated by or used in core business operations — the single most important cash flow metric for assessing business health.

Novavax NVAX Operating Cash Flow

Operating Cash Flow at other companies

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-$630M+39.2%

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-$163.82M+5.1%

Merck & Co.MRK

$3.92B+56.7%

Vaxcyte, Inc.PCVX

-$280.63M-68.8%

Viridian Therapeutics, Inc.VRDN

-$119.65M-29.1%

ALN

Alnylam PharmaceuticalsALNY

$70.5M+159%

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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CapEx$1.3M-20.4%

Free cash flow-$33.7M+82.0%

Valuation

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Market cap$1.46B+28.6%

Enterprise value$1.53B+68.6%

P/S2.5×+1.5×

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:NetCashProvidedByUsedInOperatingActivities.

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 operating cash flow?: Novavax (NVAX) reported operating cash flow of -$32.42M in Q1 2026.
How has Novavax's operating cash flow changed year-over-year?: Novavax's operating cash flow increased by 82.5% year-over-year, from -$185.5M to -$32.42M.
What is the long-term trend for Novavax's operating cash flow?: Over 2 years (2022 to 2024), Novavax's operating cash flow has grown at a -54.2% compound annual growth rate (CAGR), from -$415.94M to -$87.26M.
What does operating cash flow mean?: Total cash generated by or used in core business operations — the single most important cash flow metric for assessing business health.