Education
About Us
Working with TipRanks
Follow Us
Novavax (NVAX)
NASDAQ:NVAX
Earnings Data
Report Date
May 13, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.24Last Year’s EPS
2.93Same Quarter Last Year
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized substantial progress: robust revenue growth (driven partly by noncash APA resolution), profitability in both Q4 and full‑year 2025, strong cash and credit resources with a runway into 2028, meaningful cost reductions, and accelerating partnership momentum (notably Pfizer and Sanofi) that together present a clear path to lower run‑rate costs and potential future milestone and royalty upside. Key risks highlighted include reliance on partner execution for meaningful future revenue, certain milestone timing uncertainties (tech transfer and Phase III milestones with Sanofi), front‑loaded partner‑related spending in 2026, and broader regulatory uncertainties that could affect product uptake. Overall, the positives (growth, profitability, cash runway, partnerships, and disciplined cost cuts) substantially outweigh the listed risks, though future value remains contingent on partner success and regulatory developments.Company Guidance
Strong Revenue Growth
Reported total revenue of $1.1 billion for full year 2025, a 65% year-over-year increase; fourth quarter 2025 revenue of $147 million, a 67% increase year-over-year.
Profitability Achieved
Reported positive operating and net income for both the full year and fourth quarter of 2025, marking a financial inflection point after prior losses.
Major Non‑dilutive Capital and Cash Position
Earned over $800 million in nondilutive capital in the last 18 months from partnerships; ended 2025 with $857 million in cash and accounts receivables and added $80 million of nondilutive cash in Q1 2026 (including $30M Pfizer upfront and $50M initial credit draw). Executed a new $330 million credit facility (initial draw $50M). Company believes it can fund operations into 2028 without new cash inflows.
Partnership Momentum and High‑Value Deals
Signed a Pfizer license agreement (Jan 2026) with a $30 million upfront payment and potential for up to $500 million in development and sales milestones across 2 disease areas plus multi‑decade royalties; achieved all $225 million in eligible Sanofi milestones in 2025; multiple MTAs and new collaborations including oncology and expansions with large pharma partners.
Commercial & Market Traction via Partners
Takeda delivered more than 12% market share for Nuvaxovid in Japan; Serum Institute distributed over 30 million doses of the R21/Matrix‑M malaria vaccine in Africa; Sanofi reported positive Phase I/II results for flu/COVID combination programs and is positioned for a full commercialization cycle in 2026–2027.
Substantial Cost Reductions and Run‑Rate Improvement
On a non‑GAAP basis net of partner reimbursements, combined R&D and SG&A were reduced by 42% (fourth quarter) and 53% (full year) versus prior year; fourth quarter cost reductions annualize to a ~$328 million run rate. 2026 guidance midpoint for non‑GAAP combined R&D and SG&A is $325 million, $225 million for 2027, and a target of $200 million or below for 2028 (approximately 50% decrease vs 2025).
Revenue Outperformance vs Framework
Non‑GAAP adjusted total revenues of $1.1 billion were approximately $50 million higher than the midpoint of the company's 2025 revenue framework, driven by additional Nuvaxovid product sales, Matrix‑M supply sales, royalties, and Sanofi R&D reimbursements.
Pipeline and R&D Progress
Advancing preclinical internal programs (C. diff, shingles, RSV triple combination) with the intent to move at least one asset into the clinic as early as 2027; ongoing Matrix‑M life‑cycle work and exploration of new Matrix‑based adjuvants, including non‑infectious disease areas such as oncology.
Manufacturing Rationalization Cash Monetization
Sold Czech Republic manufacturing site to Novo Nordisk for $200 million and transferred/sold a U.S. facility and equipment to AstraZeneca netting $60 million and resulting in future cash savings up to $230 million.
NVAX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
NVAX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 26, 2026 | $9.53 | $11.19 | +17.42% |
Nov 06, 2025 | $7.69 | $7.59 | -1.30% |
Aug 06, 2025 | $6.73 | $7.58 | +12.63% |
May 08, 2025 | $5.95 | $6.66 | +11.93% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Novavax (NVAX) report earnings?
Novavax (NVAX) is schdueled to report earning on May 13, 2026, After Close (Confirmed).
What is Novavax (NVAX) earnings time?
Novavax (NVAX) earnings time is at May 13, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is NVAX EPS forecast?
NVAX EPS forecast for the fiscal quarter 2026 (Q1) is -0.24.
