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Novavax NVAX Milestones amortization — Total Revenue

Other product segments

Royalties
$3.52M

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DNLIMilestone Payment — Total collaboration revenue
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ADMAAmortization Of License Revenue
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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:Revenues.

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 milestones amortization — total revenue?
Novavax (NVAX) reported milestones amortization — total revenue of $5.55M in Q1 2026.
How has Novavax's milestones amortization — total revenue changed year-over-year?
Novavax's milestones amortization — total revenue decreased by 39.3% year-over-year, from $9.14M to $5.55M.
What does milestones amortization — total revenue mean?
This metric represents the revenue recognized from the systematic amortization of upfront milestone payments received from licensing or collaboration agreements. It reflects the portion of deferred revenue allocated to the current period as the company fulfills its long-term performance obligations under these partnerships. This figure provides insight into the recurring financial benefit derived from historical research and development achievements and strategic commercial alliances.