NASDAQ$DVAX

Dynavax Technologies Corp · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Reported financial results for the fourth quarter and full year ending December 2022.

Dynavax reported a decrease in total revenue for the fourth quarter of 2022, with $184.5 million compared to $195.1 million for the fourth quarter of 2021. However, HEPLISAV-B vaccine product revenue increased to $34.9 million from $17.2 million in the same period.

  • Total revenue for Q4 2022 was $184.5 million, compared to $195.1 million for Q4 2021.
  • HEPLISAV-B vaccine product revenue for Q4 2022 was $34.9 million, compared to $17.2 million for Q4 2021.
  • CpG 1018 adjuvant product revenue for Q4 2022 was $147.2 million, compared to $177.4 million for Q4 2021.
  • GAAP net income was $67.7 million, or $0.53 per share (basic) and $0.45 per share (diluted) in Q4 2022, compared to $99.8 million in Q4 2021.

Headline financials

Total Revenue

$184M

Previous: $195M-5.4%
EPS (adj)

$0.45

Previous: $0.55-18.2%
Capital Expenditures

$1.59M

Previous: $3.04M-47.7%
Free Cash Flow

$33.4M

Previous: $117M-71.6%
Net Income

$67.7M

Previous: $99.8M-32.1%
Operating Income

$63.1M

Previous: $80.7M-21.8%
Gross Profit

$107M

Previous: $121M-11.6%
Cash & Equivalents

$624M

Previous: $546M+14.4%
Total Assets

$986M

Previous: $1.04B-5.1%
Stock-Based Comp

$8.73M

Previous: $6.16M+41.6%

Revenue & EPS history

Dynavax · Revenue · Quarterly

$184M

Q4 2022-5.4%vs Q4 2021
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Revenue by segment

Dynavax · $69.5M total across 2 segments · Q3 2023

  • HEPLISAV-B Net Product Revenue
    $62.3M+66.1%
  • Other Revenue
    $7.2M

Forward guidance

Dynavax anticipates full-year 2023 revenue and operating expenses to be in the ranges below:

Tailwinds

  • HEPLISAV-B net product revenue between approximately $165 - $185 million

Headwinds

  • Research and development expenses between approximately $55 - $70 million
  • Selling, general and administrative expenses between approximately $135 - $155 million
  • minimal to as little as zero CpG 1018 adjuvant net product revenues in 2023.

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 Q4 2022

Historical avgQ4 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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