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Novavax NVAX Business Segments

TTM Q1 '26TTM Q4 '25TTM Q3 '25TTM Q2 '25TTM Q1 '25
Revenue from Contract with Customer, Excluding Assessed Tax by Geography
Europe$27.8M+119%$15.74M-83.4%$14.48M-91.0%$15.64M-93.1%$12.72M-95.7%
Rest of the world$106.24M+13.3%$126.46M+110%$112.37M+6.6%$110.96M-29.5%$93.81M-53.3%
United States$462.29M-18.7%$405.61M-22.4%$357.67M-37.3%$371.99M-39.0%$568.31M+74.1%

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Questions, answered.

How does Novavax break its business down?
Novavax (NVAX) reports development, tech transfer, launch, and sales milestone payments by product across 5 parts — Adjuvant Products Thereafter, CIC Product-Related Development Milestones, CIC Product-Related Launch Milestones, First Four Adjuvant Products and Licensed COVID-19 products and royalty payments. Each is extracted from the segment footnotes and tracked over time.
Where does Novavax's segment data come from?
Segment breakdowns are pulled from the segment footnotes in Novavax's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.