Novavax NVAX Transition Services — Cumulative catch up adjustment
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Where this comes from
Reported directly by Novavax in its filing.
Tagged under the XBRL concept us-gaap:ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueModificationOfContract.
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
The Sanofi Transition Services and Sanofi Technology Transfer are recognized in revenue over time using an input method to measure progress by utilizing costs incurred to-date relative to total expected costs. Revenue recognized related to Sanofi Transition Services and Sanofi Technology Transfer for the three and six month period ended June 30, 2026 was $35.1 million and $80.5 million, respectively. Revenue recognized related to Sanofi Transition Services and Sanofi Technology Transfer for the three and six month period ended June 30, 2025 was $24.4 million and $64.7 million, respectively. The Company’s consolidated balance sheet as of June 30, 2026 includes an unbilled revenue balance of $0.9 million related to Sanofi Transition Services and Sanofi Technology Transfer. The Company recognized a cumulative catch-up adjustment related to changes in estimates, which resulted in an increase to revenue of $10.8 million and $15.4 million for the three and six month periods ended June 30, 2026, respectively. These changes in estimates resulted from changes in total expected costs and changes to estimates of variable consideration from expected cost reimbursements.
Item 1. Consolidated Financial Statements
FAQ
- What is Novavax's transition services — cumulative catch up adjustment?
- Novavax (NVAX) reported transition services — cumulative catch up adjustment of $10.8M in Q2 2026.
- How has Novavax's transition services — cumulative catch up adjustment changed year-over-year?
- Novavax's transition services — cumulative catch up adjustment increased by 820.0% year-over-year, from -$1.5M to $10.8M.
- What does transition services — cumulative catch up adjustment mean?
- This adjustment reflects the impact of changes in transaction price estimates or contract modifications on revenue recognized in prior periods for the transition services segment. It is used to align the cumulative revenue recognized to date with the updated expectations of total consideration. Significant adjustments may indicate volatility in contract performance or changes in underlying commercial assumptions.
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