What is Novavax's deferred revenue?

Novavax (NVAX) reported deferred revenue of -$50.95M in Q1 2026.

How has Novavax's deferred revenue changed year-over-year?

Novavax's deferred revenue increased by 91.6% year-over-year, from -$604M to -$50.95M.

What is the long-term trend for Novavax's deferred revenue?

Over 2 years (2021 to 2025), Novavax's deferred revenue has grown at a -31.4% compound annual growth rate (CAGR), from $1.33B to -$622.94M.

Novavax NVAX Deferred Revenue

Deferred Revenue at other companies

UnitedHealth GroupUNH

$20M+300%

BlackbaudBLKB

-$31.62M-7.4%

Electronic ArtsEA

$133.25M+568%

Target HospitalityTH

$11.18M+3,495%

CalixCALX

$232K-92.7%

AirbnbABNB

$988M-10.6%

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:IncreaseDecreaseInDeferredRevenue.

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 deferred revenue?: Novavax (NVAX) reported deferred revenue of -$50.95M in Q1 2026.
How has Novavax's deferred revenue changed year-over-year?: Novavax's deferred revenue increased by 91.6% year-over-year, from -$604M to -$50.95M.
What is the long-term trend for Novavax's deferred revenue?: Over 2 years (2021 to 2025), Novavax's deferred revenue has grown at a -31.4% compound annual growth rate (CAGR), from $1.33B to -$622.94M.