# Novavax Inc: overview

NVAX · Nasdaq · CIK 1000694 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/nvax.md) · [Financials](/companies/nvax/financials.md) · [Filings](/companies/nvax/filings.md) · [Insiders](/companies/nvax/insiders.md)

Latest reported revenue: [$56.7m](/filings/0001000694-26-000018.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 6, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001000694-26-000018).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [84.5](/filings/0001000694-25-000046.md) | [88.3 d](/filings/0001000694-26-000007.md) | [667](/filings/0001628280-26-030917.md) | [239](/filings/0001000694-26-000018.md) | [70.4](/filings/0001000694-25-000046.md) | [147 d](/filings/0001000694-26-000007.md) | [140](/filings/0001628280-26-030917.md) | [56.7](/filings/0001000694-26-000018.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(158.6%)](/filings/0001000694-25-000046.md) | [(148.4%) d](/filings/0001000694-26-000007.md) | [77.3%](/filings/0001628280-26-030917.md) | [42.2%](/filings/0001000694-26-000018.md) | [(252.7%)](/filings/0001000694-25-000046.md) | [9.7% d](/filings/0001000694-26-000007.md) | [(11.1%)](/filings/0001628280-26-030917.md) | [(96.8%)](/filings/0001000694-26-000018.md) |
| Net margin | % | [(143.5%)](/filings/0001000694-25-000046.md) | [(91.8%) d](/filings/0001000694-26-000007.md) | [77.8%](/filings/0001628280-26-030917.md) | [44.5%](/filings/0001000694-26-000018.md) | [(287.3%)](/filings/0001000694-25-000046.md) | [11.9% d](/filings/0001000694-26-000007.md) | [(6.8%)](/filings/0001628280-26-030917.md) | [(94.2%)](/filings/0001000694-26-000018.md) |
| Diluted EPS | $ per share | [(0.76)](/filings/0001000694-25-000046.md) | not reported | [2.93](/filings/0001628280-26-030917.md) | [0.62](/filings/0001000694-26-000018.md) | [(1.25)](/filings/0001000694-25-000046.md) | not reported | [(0.06)](/filings/0001628280-26-030917.md) | [(0.32)](/filings/0001000694-26-000018.md) |
| Free cash flow | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [1,146](/filings/0001000694-24-000007.md) | [1,982](/filings/0001000694-25-000004.md) | [984](/filings/0001000694-26-000007.md) | [682](/filings/0001000694-26-000007.md) | [1,123](/filings/0001000694-26-000007.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(147.1%)](/filings/0001000694-24-000007.md) | [(32.5%)](/filings/0001000694-25-000004.md) | [(57.6%)](/filings/0001000694-26-000007.md) | [(36.5%)](/filings/0001000694-26-000007.md) | [40.3%](/filings/0001000694-26-000007.md) |
| Net margin | % | [(152.1%)](/filings/0001000694-24-000007.md) | [(33.2%)](/filings/0001000694-25-000004.md) | [(55.4%)](/filings/0001000694-26-000007.md) | [(27.5%)](/filings/0001000694-26-000007.md) | [39.2%](/filings/0001000694-26-000007.md) |
| Diluted EPS | $ per share | [(23.44)](/filings/0001000694-24-000007.md) | [(8.42)](/filings/0001000694-25-000004.md) | [(5.41)](/filings/0001000694-26-000007.md) | [(1.23)](/filings/0001000694-26-000007.md) | [2.58](/filings/0001000694-26-000007.md) |
| Free cash flow | $m | [265](/filings/0001000694-24-000007.md) | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:Revenues; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/nvax/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [SHAH CAPITAL MANAGEMENT](/funds/1383838.md) | 2026-06-30 | $133.4m | 14,165,577 |  | Reduced −679,520 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $131.4m | 13,946,881 |  | Added +1,102,562 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $110.6m | 11,740,550 |  | Added +2,770,032 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $71.7m | 7,607,996 |  | Added +456,371 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $68.4m | 7,257,449 |  | Added +127,302 |
| [Sanofi](/funds/1121404.md) | 2026-06-30 | $64.8m | 6,880,481 |  | Unchanged |
| [D. E. Shaw & Co., Inc.](/funds/1009207.md) | 2026-06-30 | $53.2m | 5,650,905 |  | Reduced −2,058,953 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $39.6m | 4,207,370 |  | Added +308,957 |
| [TWO SIGMA INVESTMENTS, LP](/funds/1179392.md) | 2026-06-30 | $38.5m | 4,091,043 |  | Added +3,476,244 |
| [COATUE MANAGEMENT LLC](/funds/1135730.md) | 2026-06-30 | $36.1m | 3,836,986 |  | Unchanged |

## Recent filings

[All 1,217 filings](/companies/nvax/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-29 | 16:30 ET | [8-K](/filings/0001104659-26-120221.md) | 7.01 Regulation FD disclosure; 8.01 Other events; 9.01 Financial statements and exhibits | 0001104659-26-120221 |
| 2026-10-16 | 16:15 ET | [SCHEDULE 13D/A](/filings/0001398344-26-018323.md) | Ownership report, active investor, amended | 0001398344-26-018323 |
| 2026-08-06 | 08:03 ET | [8-K](/filings/0001000694-26-000019.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001000694-26-000019 |
| 2026-08-06 | 07:50 ET | [10-Q](/filings/0001000694-26-000018.md) | Quarterly report, period 2026-06-30 | 0001000694-26-000018 |
| 2026-06-23 | 08:00 ET | [8-K](/filings/0001104659-26-076648.md) | 5.07 Shareholder vote results | 0001104659-26-076648 |
| 2026-05-15 | 08:15 ET | [SCHEDULE 13D/A](/filings/0001398344-26-009210.md) | Ownership report, active investor, amended | 0001398344-26-009210 |
| 2026-05-06 | 08:00 ET | [8-K](/filings/0001628280-26-030924.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001628280-26-030924 |
| 2026-05-06 | 07:50 ET | [10-Q](/filings/0001628280-26-030917.md) | Quarterly report, period 2026-03-31 | 0001628280-26-030917 |
| 2026-04-27 | 08:00 ET | [DEF 14A](/filings/0001628280-26-027328.md) | Proxy statement, period 2026-06-18 | 0001628280-26-027328 |
| 2026-04-08 | 06:00 ET | [SCHEDULE 13D/A](/filings/0001398344-26-006235.md) | Ownership report, active investor, amended | 0001398344-26-006235 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001000694-26-000007.md), filed Feb 26, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/2dd7c484-edd7-474b-b434-ea1881a0ae2b)

## About the filer

- CIK: 1000694
- Tickers: NVAX
- Exchange: Nasdaq
- SIC code: 2836 Biological Products, (No Diagnostic Substances)
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 29, 2026, 16:32 ET. No prices; not investment advice.