Novavax beats revenue estimates, raises full-year guidance

Investing.com -- Novavax, Inc. (NASDAQ: NVAX) reported third quarter revenue of $70 million, significantly exceeding analyst expectations of $44.87 million, while posting a wider-than-anticipated loss per share of -$1.25 compared to the consensus estimate of -$0.92.

The biotechnology company’s revenue declined 18% compared to $85 million in the same quarter last year, primarily due to the transition of commercial responsibilities for its COVID-19 vaccine Nuvaxovid to Sanofi. Despite the revenue beat, Novavax shares edged down 0.7% following the announcement.

The quarter was marked by continued execution of the company’s partnership with Sanofi, which has yielded $225 million in milestone payments year-to-date, including $50 million earned on marketing authorization transfers. Licensing, royalties and other revenue increased 33% to $57 million, while product sales fell 68% to $13 million.

"We have continued the steady transformation of Novavax and are proud of our progress this quarter," said John C. Jacobs, President and Chief Executive Officer. "This year we have relaunched the Company with a focus on R&D and partnerships intended to position us well for long-term growth and profitability."

Novavax raised its full-year 2025 revenue framework, now expecting adjusted total revenue between $1.04 billion and $1.06 billion, up from the previous guidance of $1.0 billion to $1.05 billion. The company also affirmed its financial guidance for combined R&D and SG&A expenses.

As of September 30, 2025, Novavax reported cash, cash equivalents, marketable securities, and restricted cash of $778 million, compared to $938 million at the end of 2024.

You May Also Be Interested In

• Raymond James downgrades Check Point on worsening channel trends
• HSBC says spike in oil prices does not alter bullish view on risk assets
• Citizens launches transportation coverage, names FedEx a top large-cap pick