Novavax (NVAX) Q3 2025

Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025

Earnings

Novavax delivered a mixed third quarter for fiscal 2025, beating revenue expectations by a wide margin while falling well short on the bottom line. The vaccine maker posted revenue of $70.44 million, exceeding the $44.87 million consensus by 56.99%, … Read more Novavax delivered a mixed third quarter for fiscal 2025, beating revenue expectations by a wide margin while falling well short on the bottom line. The vaccine maker posted revenue of $70.44 million, exceeding the $44.87 million consensus by 56.99%, though sales still declined 16.6% year-over-year as the company's commercial model underwent a fundamental shift; Sanofi's assumption of lead commercial responsibility for Nuvaxovid eliminated direct product sales entirely, replacing them with licensing and partnership revenue that grew 33% to $48.00 million. On the earnings side, however, Novavax reported a loss of $1.25 per share, missing the $-0.92 consensus by 36.36%, weighed down by $126.00 million in non-cash charges including a $97.00 million asset impairment tied to Maryland facility consolidation transactions that are expected to generate $230.00 million in future cost savings over 11 years. Looking ahead, management raised its full-year 2025 adjusted revenue framework to $1.04 billion-$1.06 billion while narrowing expense guidance, signaling growing confidence in the Sanofi partnership as the backbone of its restructured business model.