EURONEXT-PAR$VALN
Valneva SE · Q1 2025 earnings
Q1 2025 earnings · · Investor relations
Briefing
Valneva Q1 2025: €49.2M revenue (+50%) but net loss €9.2M without PRV gain
Valneva reported first quarter 2025 total revenues of €49.2 million, up 50.3% year over year, driven by product sales of €48.6 million (+51.2%). IXIARO/JESPECT sales rose 65.5% to €27.5 million as prior-year supply constraints eased, DUKORAL grew 9.4% to €12.3 million, and IXCHIQ chikungunya vaccine sales reached €3.0 million. The company posted a net loss of €9.2 million versus a €58.9 million net profit in Q1 2024, which included €90.8 million from the Priority Review Voucher sale. Adjusted EBITDA was a €0.6 million loss compared with €73.0 million profit a year ago. Operating cash burn improved 71% to €8.1 million, and cash stood at €153.0 million at March 31. Valneva confirmed 2025 guidance for product sales of €170–180 million and total revenues of €180–190 million.
- Total revenues €49.2M (+50%); product sales €48.6M (+51%).
- IXIARO/JESPECT €27.5M (+66%); DUKORAL €12.3M (+9%); IXCHIQ €3.0M.
- Net loss €9.2M vs €58.9M profit prior year (prior year included €90.8M PRV gain).
- Operating cash burn €8.1M, down 71% YoY; cash €153.0M at quarter end.
- 2025 product sales guidance €170–180M confirmed; Lyme Phase 3 data expected year-end.
Headline financials
Revenue & EPS history
Valneva · Revenue · Quarterly
€49.2M
Revenue by segment
Valneva · €48.6M total across 4 segments · Q1 2025
- IXIARO/JESPECT€27.5M—56.6%
- DUKORAL€12.3M—25.3%
- Third-party distribution€5.8M—11.9%
- IXCHIQ€3M—6.2%
Forward guidance
Valneva confirmed FY2025 product sales of €170–180M, total revenues €180–190M, R&D spend €90–100M, and targeting >50% lower operating cash burn versus 2024.
Tailwinds
- Double-digit commercial sales growth with improving IXIARO supply
- Multiple IXCHIQ regulatory wins including Brazil endemic-country approval
Headwinds
- IXCHIQ use restricted in elderly populations in U.S., France and EU pending safety reviews
- Net loss expected until PRV-related prior-year comparison laps
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 14 quarterly earnings reports · overlaid with Q1 2025
+1.5%
Avg return
Earnings day
+0.8%
Avg return
5 days after
+0.5%
Avg return
30 days after
44%
7 / 16 earnings
Positive
+40.7%
Q1 2023
Best reaction
-16.1%
Q2 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -5.2% | -3.3% | -10.0% | |
| Q3 2025 | +0.4% | +0.5% | -7.2% | |
| H1 2025 | +29.2% | +35.6% | +8.0% | |
| Q1 2025 | +4.0% | -0.4% | -4.9% | |
| Q1 2024 | -5.0% | -1.1% | +11.7% | |
| Q4 2023 | -10.6% | -1.5% | -4.3% | |
| Q3 2023 | +5.3% | +2.6% | -13.5% | |
| Q2 2023 | -4.8% | -8.0% | -19.1% | |
| Q1 2023 | +40.7% | +28.9% | +33.6% | |
| Q4 2022 | -4.5% | -10.3% | -3.1% | |
| Q3 2022 | +5.4% | +9.4% | +5.7% | |
| Q2 2022 | -0.5% | -2.3% | -19.5% | |
| Q1 2022 | +2.1% | -3.0% | -7.9% | |
| Q4 2021 | -8.7% | -7.6% | -13.6% | |
| Q2 2021 | -16.1% | -11.2% | +63.3% | |
| Q1 2021 | -7.1% | -15.7% | -10.8% |
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