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Novavax NVAX Operating Income

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Other financials

Income statement

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Revenue$56.7M-76.3%
Gross profit$42.5M-81.0%
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:OperatingIncomeLoss.

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 itemFor the Three Months Ended June 30, 2026For the Three Months Ended June 30, 2025For the Six Months Ended June 30, 2026For the Six Months Ended June 30, 2025
Research and development70,69379,233166,165168,170
Selling, general, and administrative26,66543,61255,44291,702
Total expenses111,604138,170266,548289,311
Income (loss) from operations(54,906)101,070(70,336)616,584
Other income (expense):
Interest expense(5,689)(5,518)(10,590)(11,241)
Other income, net8,91911,90220,74421,957
Income (loss) before income tax expense(51,676)107,454(60,182)627,300

Item 1. Consolidated Financial Statements

FAQ

What is Novavax's operating income?
Novavax (NVAX) reported operating income of -$54.91M in Q2 2026.
How has Novavax's operating income changed year-over-year?
Novavax's operating income decreased by 154.3% year-over-year, from $101.07M to -$54.91M.
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.

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