Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $15.4M | $31.2M | $34.3M | $18.7M | $476M | $1.15B | $1.98B | $984M | $682M | $1.12B |
| Revenue growth | — | 103.1% | 10.0% | -45.6% | 2448.5% | 141.0% | 72.9% | -50.4% | -30.7% | 64.7% |
| Operating income | -$269M | -$172M | -$174M | -$121M | -$417M | -$1.69B | -$645M | -$567M | -$249M | $453M |
| Operating margin | -1752.8% | -550.8% | -507.2% | -646.1% | -87.6% | -147.1% | -32.5% | -57.6% | -36.5% | 40.3% |
| Net income | -$280M | -$184M | -$185M | -$133M | -$418M | -$1.74B | -$658M | -$545M | -$187M | $440M |
| Net margin | -1823.5% | -589.5% | -538.8% | -711.0% | -87.9% | -152.1% | -33.2% | -55.4% | -27.5% | 39.2% |
| EPS (diluted) | -$1.03 | -$12.56 | -$9.99 | -$5.51 | -$7.27 | -$23.44 | -$8.42 | -$5.41 | -$1.23 | $2.58 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$259M | -$144M | -$185M | -$137M | -$42.5M | $323M | -$416M | -$714M | -$87.3M | -$245M |
| Capital expenditures | $18.2M | $4.19M | $1.37M | $1.86M | $54.6M | $57.5M | — | — | — | — |
| Free cash flow | -$277M | -$149M | -$186M | -$138M | -$97.2M | $265M | — | — | — | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $144M | $106M | $70.2M | $78.8M | $553M | $1.52B | $1.34B | $569M | $530M | $241M |
| Total assets | $394M | $302M | $208M | $173M | $1.58B | $2.58B | $2.26B | $1.80B | $1.56B | $1.18B |
| Total liabilities | $400M | $404M | $376M | $359M | $955M | $2.93B | $2.89B | $2.51B | $2.18B | $1.30B |
| Shareholders' equity | -$5.55M | -$102M | -$168M | -$186M | $627M | -$352M | -$634M | -$717M | -$624M | -$128M |
| Retained earnings | -$930M | -$1.11B | -$1.30B | -$1.43B | -$1.87B | -$3.62B | -$4.28B | -$4.82B | -$5.01B | -$4.57B |
| Shares (wtd avg diluted) | 271M | 323M | 19.2M | 24.1M | 57.6M | 74.4M | 78.2M | 101M | 152M | 173M |
Every figure is extracted from NOVAVAX INC’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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