Novavax Q2 2026 Results Overview
Novavax Inc. (NASDAQ:NVAX) reported second‑quarter 2026 financial results that surpassed analyst expectations. The company posted a loss of $0.32 per share, better than the consensus estimate of a $0.40 loss, and generated revenue of $57 million, exceeding the $52.06 million forecast. Revenue represented a 76 % year‑over‑year decline from $239 million in the comparable quarter of the prior year, a drop largely explained by the prior year’s inclusion of $202 million of milestone and amendment payments – $175 million for the Nuvaxovid U.S. approval milestone and $27 million from a Takeda amendment. Product sales amounted to $19 million, up 76 % YoY, driven by higher demand for the Matrix‑M adjuvant and sales to license partners.
The company raised its full‑year 2026 adjusted total‑revenue guidance to a range of $235 million to $275 million, up from the previous $230 million to $270 million outlook. At the same time, full‑year 2026 combined R&D and SG&A expense guidance was improved to $370 million‑$410 million, a $10 million midpoint reduction from the prior $380 million‑$420 million range, while the non‑GAAP combined R&D and SG&A expense guidance remained unchanged at $310 million‑$340 million.
Net loss for the quarter was $53 million, compared with a net income of $107 million in the year‑ago quarter. Cash and cash equivalents stood at $724 million as of June 30, 2026. Shares rose approximately 0.4 % in pre‑market trading following the release.
John C. Jacobs, President and Chief Executive Officer, said the company is encouraged by the momentum across the business as it continues to advance its strategy. Novavax highlighted progress in its partnership with Sanofi, noting that Sanofi is in advanced discussions with regulators regarding the timing of a Phase 3 COVID‑19‑Influenza combination trial. Commencement of that trial would trigger a $125 million milestone payment to Novavax. Additionally, the technology transfer of Nuvaxovid manufacturing to Sanofi is expected to be completed by mid‑2027, which would generate a further $75 million milestone payment.