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Novavax NVAX Licensing, royalties, and other — Total Revenue

Other product segments

Cost reimbursements
$22.6M+249%
Upfront fee amortization
$8.73M-28.9%
Milestones amortization
$3.76M-33.6%
Royalties
$700K-86.0%
Support services
$265K-4.7%
Milestones
$0-100%
Upfront fee
$0-100%

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$372.25M+7.6%
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MRAMLicensing — Total Revenue
$0-100%
Shake Shack logo
SHAKLicensing revenue — Total Revenue
$14.18M+7.1%
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MRAMRoyalties — Total Revenue
$139K-57.2%
AbCellera Biologics Inc. logo
ABCLLicensing and royalty revenue — Total Revenue
$149K-98.6%

Other financials

Income statement

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Revenue$56.7M-76.3%
Gross profit$42.5M-81.0%
Operating income-$54.9M-154%
Net income-$53.4M-150%
EPS (diluted)-$0.32-152%

Balance sheet

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Cash & equivalents$191.5M-24.5%
Total debt$297.3M+413%
Total equity-$190.7M-607%
Total assets$955.6M-28.5%

Cash flow

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Operating cash flow-$72.8M+42.9%
CapEx$588.0K+11.6%
Free cash flow-$73.4M+42.7%

Valuation

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Market cap$1.27B+3.7%
Enterprise value$1.38B+33.6%
P/S3.1×+1.9×

Profitability

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Gross margin78.6%-9.6pp
Operating margin-56.6%-89.2pp
Net margin-59.9%-99.1pp
FCF margin-59%-61.5pp

Returns & leverage

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Return on equity-238.6%
Debt / equity1.5×
Current ratio2.3×0.0×

Where this comes from

Reported directly by Novavax in its filing.

Tagged under the XBRL concept us-gaap:Revenues.

The source filing: Novavax’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 7:50 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001000694-26-000018
Line itemFor the Three Months Ended June 30, 2026For the Three Months Ended June 30, 2025For the Six Months Ended June 30, 2026For the Six Months Ended June 30, 2025
Revenue:
Product sales$18,854$10,724$61,054$632,402
Licensing, royalties, and other37,844228,516135,158273,493
Total revenue56,698239,240196,212905,895
Expenses:
Cost of sales14,24615,32544,94129,439
Research and development70,69379,233166,165168,170
Selling, general, and administrative26,66543,61255,44291,702

Item 1. Consolidated Financial Statements

FAQ

What is Novavax's licensing, royalties, and other — total revenue?
Novavax (NVAX) reported licensing, royalties, and other — total revenue of $37.84M in Q2 2026.
How has Novavax's licensing, royalties, and other — total revenue changed year-over-year?
Novavax's licensing, royalties, and other — total revenue decreased by 83.4% year-over-year, from $228.52M to $37.84M.
What is the long-term trend for Novavax's licensing, royalties, and other — total revenue?
Over 2 years (2022 to 2025), Novavax's licensing, royalties, and other — total revenue has grown at a 215.7% compound annual growth rate (CAGR), from $43.99M to $438.44M.
What does licensing, royalties, and other — total revenue mean?
This metric represents the total revenue generated from intellectual property licensing agreements, royalty payments from partners, and miscellaneous service or collaboration fees. It reflects the company's ability to monetize its proprietary technology platform and vaccine candidates through external partnerships rather than direct product sales. This revenue stream is critical for assessing the company's success in leveraging its research and development output to create recurring, non-dilutive income.

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