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Novavax NVAX Upfront fee — Total Revenue

Other product segments

Licensing, royalties, and other
$37.84M-83.4%
Cost reimbursements
$22.6M+249%
Upfront fee amortization
$8.73M-28.9%
Milestones amortization
$3.76M-33.6%
Royalties
$700K-86.0%
Support services
$265K-4.7%
Milestones
$0-100%

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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:Revenues.

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 itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Takeda licensing, royalties, and other revenue
Licensing:
Upfront fee(1)$18,500$18,500
Milestones3,4343,434
Royalties(50)5,0006115,000
Support services265278339278
Tota Total Takeda licensing, royalties, and other revenue$215$27,212$950$27,212

Item 1. Consolidated Financial Statements

FAQ

What is Novavax's upfront fee — total revenue?
Novavax (NVAX) reported upfront fee — total revenue of $0 in Q2 2026.
How has Novavax's upfront fee — total revenue changed year-over-year?
Novavax's upfront fee — total revenue decreased by 100.0% year-over-year, from $18.5M to $0.
What does upfront fee — total revenue mean?
This metric represents the total revenue recognized from non-refundable upfront payments received from licensing agreements, collaborations, or research partnerships. It reflects the initial cash inflows associated with granting access to proprietary vaccine technology or intellectual property before the achievement of specific development or commercial milestones. Monitoring this figure helps investors assess the company's ability to monetize its research pipeline and secure early-stage capital through strategic industry partnerships.

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