NOVAVAX INC
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 6, 2025
NVAX$10.20-6.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Consolidated Financial Statements
Item 1. Financial Statements
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share information)
| For the Three Months EndedSeptember 30, | For the Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenue: | ||||
| Product sales | $13,442 | $41,528 | $645,844 | $153,952 |
| Licensing, royalties, and other | 57,003 | 42,984 | 330,496 | 439,899 |
| Total revenue | 70,445 | 84,512 | 976,340 | 593,851 |
| Expenses: | ||||
| Cost of sales | 21,496 | 60,619 | 50,936 | 166,070 |
| Research and development | 98,274 | 87,164 | 266,444 | 286,789 |
| Selling, general, and administrative | 31,655 | 70,747 | 123,357 | 258,843 |
| Impairment of assets held for sale | 97,038 | — | 97,038 | — |
| Total expenses | 248,463 | 218,530 | 537,775 | 711,702 |
| Income (loss) from operations | (178,018) | (134,018) | 438,565 | (117,851) |
| Other income (expense): | ||||
| Interest expense | (5,482) | (4,236) | (16,723) | (12,490) |
| Loss on debt extinguishment | (28,714) | — | (28,714) | — |
| Other income, net | 9,178 | 15,922 | 31,136 | 27,307 |
| Income (loss) before income tax expense | (203,036) | (122,332) | 424,264 | (103,034) |
| Income tax expense (benefit) | (657) | (1,032) | 1,489 | 3,435 |
| Net income (loss) | $(202,379) | $(121,300) | $422,775 | $(106,469) |
| Net income (loss) per share: | ||||
| Basic | $(1.25) | $(0.76) | $2.61 | $(0.71) |
| Diluted | $(1.25) | $(0.76) | $2.53 | $(0.71) |
| Weighted average number of common shares outstanding: | ||||
| Basic | 162,353 | 160,049 | 161,811 | 149,486 |
| Diluted | 162,353 | 160,049 | 168,195 | 149,486 |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(in thousands)
| For the Three Months EndedSeptember 30, | For the Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Net income (loss) | $(202,379) | $(121,300) | $422,775 | $(106,469) |
| Other comprehensive income (loss): | ||||
| Net unrealized gain on available-for-sale marketable securities | 95 | 393 | 545 | 243 |
| Foreign currency translation adjustment | (1,382) | 13,713 | 20,269 | 633 |
| Other comprehensive income (loss) | (1,287) | 14,106 | 20,814 | 876 |
| Comprehensive income (loss) | $(203,666) | $(107,194) | $443,589 | $(105,593) |
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