NASDAQ$NVAX
Novavax Inc · Q2 2025 earnings
Q2 2025 earnings · · Before market open · Investor relations
Briefing
Novavax reported strong Q2 2025 results driven by Sanofi partnership milestones and product sales.
For the three months ended June 30, 2025, Novavax achieved total revenue of $239.2 million, including $10.7 million in product sales and $228.5 million in licensing, royalties, and other revenue. The company recorded net income of $106.5 million and operating income of $101.1 million, reflecting significant contributions from the Sanofi collaboration.
- Total revenue reached $239.2 million, primarily from Sanofi licensing milestones and transition services.
- Net income was $106.5 million with basic EPS of $0.66.
- Research and development expenses totaled $79.2 million and SG&A expenses were $43.6 million.
- Cash and cash equivalents stood at $253.7 million as of June 30, 2025.
Headline financials
Revenue & EPS history
Novavax · Revenue · Quarterly
$239M
Revenue by segment
Novavax · $239M total across 2 segments · Q2 2025
- Licensing, royalties, and other$229M—95.5%
- Product sales$10.7M—4.5%
Forward guidance
Company continues focus on Sanofi partnership, existing collaborations, and advancing early-stage pipeline with disciplined R&D investment.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports
+2.5%
Avg return
Earnings day
+5.0%
Avg return
5 days after
+11.8%
Avg return
30 days after
36%
23 / 64 earnings
Positive
+193.3%
Q1 2024
Best reaction
-33.2%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| Q1 2026 | +15.6% | +17.3% | +17.0% | |
| Q4 2025 | +0.5% | -0.4% | -11.3% | |
| Q3 2025 | -3.0% | -3.3% | -10.1% | |
| Q1 2025 | +11.6% | +4.0% | +25.2% | |
| Q4 2024 | -3.6% | +4.9% | -4.4% | |
| Q3 2024 | -13.8% | -18.8% | +0.1% | |
| Q2 2024 | +8.3% | +13.5% | +8.6% | |
| Q1 2024 | +193.3% | +188.6% | +306.5% | |
| Q4 2023 | -17.9% | -8.8% | -20.6% | |
| Q3 2023 | -8.2% | -8.2% | -18.1% | |
| Q2 2023 | -5.3% | -2.1% | +21.7% | |
| Q1 2023 | +20.7% | +13.4% | +3.2% | |
| Q4 2022 | -20.9% | -11.3% | -24.0% | |
| Q3 2022 | -4.1% | +28.9% | -10.9% | |
| Q2 2022 | -33.2% | -31.2% | -49.2% | |
| Q1 2022 | -6.0% | -9.4% | -12.5% | |
| Q4 2021 | +2.6% | -12.1% | -8.4% | |
| Q3 2021 | -18.4% | -13.3% | -17.8% | |
| Q2 2021 | -15.2% | +2.9% | +12.4% | |
| Q1 2021 | -21.5% | -25.2% | +19.1% | |
| Q4 2020 | -10.9% | -24.4% | -21.6% | |
| Q3 2020 | -12.4% | +7.5% | +28.2% | |
| Q2 2020 | -12.2% | -14.0% | -46.7% | |
| Q1 2020 | +112.6% | +132.9% | +140.0% | |
| Q4 2019 | -12.8% | -35.1% | +60.1% | |
| Q3 2019 | +3.8% | -6.3% | -1.6% | |
| Q2 2019 | -8.2% | -15.5% | +15.5% | |
| Q1 2019 | -7.8% | -21.6% | -44.3% | |
| Q4 2018 | +7.8% | +5.9% | +3.9% | |
| Q3 2018 | -3.7% | -10.5% | +7.3% | |
| Q2 2018 | +22.5% | +13.3% | +24.2% | |
| Q1 2018 | -1.2% | +4.3% | -1.2% | |
| Q4 2017 | -4.2% | -2.8% | -15.3% | |
| Q3 2017 | +0.9% | +0.0% | +24.8% | |
| Q2 2017 | +3.1% | +4.2% | +22.9% | |
| Q1 2017 | +14.9% | +35.1% | +43.2% | |
| Q4 2016 | +9.4% | +6.5% | -7.2% | |
| Q3 2016 | -3.4% | -6.9% | +0.7% | |
| Q2 2016 | -9.2% | -6.4% | -0.3% | |
| Q1 2016 | -8.9% | — | — | |
| Q4 2015 | -0.2% | — | — | |
| Q3 2015 | -12.2% | — | — | |
| Q2 2015 | +28.3% | — | — | |
| Q1 2015 | +4.4% | — | — | |
| Q4 2014 | -1.9% | — | — | |
| Q3 2014 | -7.2% | — | — | |
| Q2 2014 | -5.0% | — | — | |
| Q1 2014 | -7.1% | — | — | |
| Q4 2013 | -0.8% | — | — | |
| Q3 2013 | +3.2% | — | — | |
| Q2 2013 | -10.8% | — | — | |
| Q1 2013 | -8.9% | — | — | |
| Q4 2012 | -0.5% | — | — | |
| Q3 2012 | -1.8% | — | — | |
| Q2 2012 | +0.5% | — | — | |
| Q1 2012 | -5.7% | — | — | |
| Q4 2011 | +0.0% | — | — | |
| Q3 2011 | +0.0% | — | — | |
| Q2 2011 | +5.9% | — | — | |
| Q1 2011 | +0.4% | — | — | |
| Q4 2010 | +0.0% | — | — | |
| Q3 2010 | +1.3% | — | — | |
| Q2 2010 | -1.3% | — | — | |
| Q1 2010 | +14.9% | — | — |
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