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Novavax NVAX Business Segments — Cost of Sales

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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:CostOfRevenue.

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
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
Total expenses111,604138,170266,548289,311
Income (loss) from operations(54,906)101,070(70,336)616,584

Item 1. Consolidated Financial Statements

FAQ

What is Novavax's business segments — cost of sales?
Novavax (NVAX) reported business segments — cost of sales of $14.25M in Q2 2026.
How has Novavax's business segments — cost of sales changed year-over-year?
Novavax's business segments — cost of sales decreased by 7.0% year-over-year, from $15.33M to $14.25M.
What is the long-term trend for Novavax's business segments — cost of sales?
Over 3 years (2022 to 2025), Novavax's business segments — cost of sales has grown at a -56.7% compound annual growth rate (CAGR), from $902.64M to $73.04M.
What does business segments — cost of sales mean?
Includes the direct costs attributable to the production and delivery of goods or services sold by the reportable segment. Monitoring this metric is essential for evaluating the segment's gross margin efficiency and the direct impact of manufacturing or supply chain costs on profitability.

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