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Novavax NVAX Business Segments — R&D

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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:ResearchAndDevelopmentExpense.

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 business segments — R&D?
Novavax (NVAX) reported business segments — R&D of $38.06M in Q1 2026.
How has Novavax's business segments — R&D changed year-over-year?
Novavax's business segments — R&D decreased by 4.6% year-over-year, from $39.91M to $38.06M.
What is the long-term trend for Novavax's business segments — R&D?
Over 3 years (2022 to 2025), Novavax's business segments — R&D has grown at a -43.9% compound annual growth rate (CAGR), from $848.04M to $149.38M.
What does business segments — R&D mean?
Captures the expenses incurred by the reportable segment for the discovery, development, and clinical testing of new products or technologies. This investment is critical for long-term innovation and future revenue potential, particularly in biotechnology sectors where product pipelines drive market value.