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Novavax NVAX Upfront fee amortization — Total Revenue

Other product segments

Royalties
$3.52M

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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 upfront fee amortization — total revenue?
Novavax (NVAX) reported upfront fee amortization — total revenue of $12.11M in Q1 2026.
How has Novavax's upfront fee amortization — total revenue changed year-over-year?
Novavax's upfront fee amortization — total revenue decreased by 39.2% year-over-year, from $19.91M to $12.11M.
What does upfront fee amortization — total revenue mean?
This metric represents the portion of revenue recognized from non-refundable upfront payments received from collaboration or licensing agreements. It reflects the systematic release of deferred revenue as the company fulfills its performance obligations over the term of the contract. Investors use this to gauge the long-term value realization from strategic partnerships and the stability of recurring revenue streams derived from historical licensing deals.