Novavax reported second quarter revenue of $57 million and a net loss of $0.32 per share, beating analyst expectations for both metrics. The results reflect the company's ongoing transition to a partnership-driven model, with a significant year-over-year revenue decline of 76% primarily due to a large milestone payment received in the prior-year period. The company raised its full-year 2026 revenue framework, signaling confidence in its new strategy.
Key Highlights
- Second quarter revenue was $57 million, down 76% from $239 million a year ago, which included a $202 million benefit from a BLA approval milestone and a Takeda amendment.
- Net loss was $53 million, or ($0.32) per share, compared to net income of $107 million in the same period last year. The reported loss was narrower than analyst estimates.
- Raised full-year 2026 Adjusted Total Revenue guidance to between $235 million and $275 million, up from a previous range of $230 million to $270 million.
- The Sanofi partnership continues to advance, with Sanofi in advanced discussions with regulators for a Phase 3 COVID-19-Influenza Combination trial, which would trigger a $125 million milestone payment to Novavax upon initiation.