What is Novavax's operating income?

Novavax (NVAX) reported operating income of -$15.43M in Q1 2026.

How has Novavax's operating income changed year-over-year?

Novavax's operating income decreased by 103.0% year-over-year, from $515.51M to -$15.43M.

What is the long-term trend for Novavax's operating income?

Over 4 years (2021 to 2025), Novavax's operating income has grown at a -28.0% compound annual growth rate (CAGR), from -$1.69B to $452.8M.

What does operating income mean?

Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.

Novavax NVAX Operating Income

Operating Income at other companies

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-$1.39B-32.2%

Vaxcyte, Inc.PCVX

-$345.85M-91.3%

Viridian Therapeutics, Inc.VRDN

-$116.17M-23.8%

ALN

Alnylam PharmaceuticalsALNY

$268.64M+1,386%

Gilead SciencesGILD

$2.59B+15.6%

Nektar TherapeuticsNKTR

-$39.05M+12.3%

Other financials

Income statement

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Revenue$139.5M-79.1%

Gross profit$108.8M-83.3%

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+28.6%

Enterprise value$1.53B+68.6%

P/S2.5×+1.5×

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:OperatingIncomeLoss.

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 operating income?: Novavax (NVAX) reported operating income of -$15.43M in Q1 2026.
How has Novavax's operating income changed year-over-year?: Novavax's operating income decreased by 103.0% year-over-year, from $515.51M to -$15.43M.
What is the long-term trend for Novavax's operating income?: Over 4 years (2021 to 2025), Novavax's operating income has grown at a -28.0% compound annual growth rate (CAGR), from -$1.69B to $452.8M.
What does operating income mean?: Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.