NASDAQ$DVAX

Dynavax Technologies Corp · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

Reported financial results for the quarter ended September 30, 2022.

Dynavax reported a successful Q3 2022 with a 55% increase in total revenue compared to Q3 2021, driven by strong performance of HEPLISAV-B and CpG 1018 adjuvant. The company is on track for a second consecutive year of profitability.

  • Total revenue reached $167.7 million, a 55% increase from Q3 2021.
  • HEPLISAV-B vaccine net product revenue was $37.5 million, up 65% compared to Q3 2021.
  • CpG 1018 adjuvant net product revenue was $126.3 million, a 50% increase from Q3 2021.
  • The company reiterates its guidance for full-year CpG 1018 adjuvant net product revenues of between $550 million and $600 million.

Headline financials

Total Revenue

$166M

Previous: $108M+53.5%
EPS (adj)

$0.43

Previous: -$0.24+279.2%
Capital Expenditures

-$5.55M

Previous: -$6.44M+13.8%
Free Cash Flow

$22.2M

Previous: $209M-89.3%
Net Income

$63.8M

Previous: -$28.4M+324.4%
Operating Income

$61.4M

Previous: $16.1M+282.1%
Gross Profit

$105M

Previous: $3.02M+3370.1%
Cash & Equivalents

$586M

Previous: $246M+138.1%
Total Assets

$999M

Previous: $920M+8.7%
Stock-Based Comp

$8.61M

Previous: $5.38M+60.2%

Revenue & EPS history

Dynavax · Revenue · Quarterly

$166M

Q3 2022+53.5%vs Q3 2021
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Revenue by segment

Dynavax · $37.5M total across 1 segment · Q3 2022

  • HEPLISAV-B Net Product Revenue
    $37.5M+65.2%

Forward guidance

Dynavax anticipates 2022 revenues, operating expenses, and other costs to be consistent with the Company’s previous financial guidance provided on August 4, 2022.

Tailwinds

  • Full-year CpG 1018 adjuvant net product revenues of between $550 million and $600 million
  • Associated gross margin anticipated to be approximately 60%
  • Research and development expenses to be between approximately $50-$60 million
  • Selling, general and administrative expenses to be between approximately $130-$140 million
  • Interest expense of approximately $7 million

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 16 quarterly earnings reports · overlaid with Q3 2022

Historical avgQ3 2022

-0.6%

Avg return

Earnings day

+1.2%

Avg return

5 days after

+0.9%

Avg return

30 days after

49%

31 / 63 earnings

Positive

+18.1%

Q1 2019

Best reaction

-29.1%

Q4 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q4 2025
Q3 2025-1.5%+2.4%-1.0%
Q2 2025-6.7%-2.2%-9.0%
Q1 2025-11.0%-9.6%-6.1%
Q4 2024+0.0%+2.5%+3.6%
Q3 2024+5.9%+9.6%+4.5%
Q2 2024+6.8%+10.1%+7.2%
Q1 2024-6.4%-6.2%+2.6%
Q4 2023+2.3%+4.3%-1.4%
Q3 2023+0.9%-5.5%-2.8%
Q2 2023+7.1%+10.0%+7.4%
Q1 2023+4.8%+7.0%+9.0%
Q4 2022-5.0%-5.5%-9.4%
Q3 2022+11.6%+10.3%+12.6%
Q2 2022+17.8%+20.7%-20.6%
Q1 2022-4.3%-12.0%+29.7%
Q4 2021-2.2%-16.1%-11.8%
Q3 2021-22.8%
Q2 2021+6.1%
Q1 2021+9.7%
Q4 2020-6.7%
Q3 2020+0.5%
Q2 2020-13.5%
Q1 2020-8.8%
Q4 2019-29.1%
Q3 2019-5.4%
Q2 2019+5.2%
Q1 2019+18.1%
Q4 2018-7.8%
Q3 2018+2.2%
Q2 2018+5.8%
Q1 2018-5.0%
Q4 2017-0.3%
Q3 2017+6.4%
Q2 2017+12.7%
Q1 2017+0.9%
Q4 2016-2.5%
Q3 2016+6.7%
Q2 2016-2.3%
Q1 2016+8.7%
Q4 2015-4.6%
Q3 2015-1.5%
Q2 2015+10.8%
Q1 2015+1.9%
Q4 2014+0.1%
Q3 2014-1.9%
Q2 2014-9.2%
Q1 2014-3.9%
Q4 2013-4.2%
Q3 2013+4.5%
Q2 2013+2.4%
Q1 2013-5.2%
Q4 2012+2.1%
Q3 2012+0.5%
Q2 2012+2.4%
Q1 2012-3.6%
Q4 2011+3.1%
Q3 2011-14.0%
Q2 2011-14.6%
Q1 2011-1.1%
Q4 2010-2.5%
Q3 2010+2.4%
Q2 2010-8.1%
Q1 2010+7.1%

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