Key Takeaways Novavax reported Q4 EPS of 11 cents, beating loss estimates as revenues rose 67% year over year.NVAX posted $108M in licensing revenues, including $98M under its Sanofi agreement.Novavax expects 2026 adjusted revenues of $230M-$270M, excluding Sanofi receivables.Novavax (NVAX) reported earnings of 11 cents per share in the fourth quarter of 2025 against the Zacks Consensus Estimate of a loss of 66 cents. In the year-ago quarter, the company had recorded a loss of 51 cents.Quarterly revenues to ...

来源：环球市场播报 诺瓦瓦克斯公司（纳斯达克股票代码：NVAX）周四股价上涨，此前该公司公布了2025年第四季度及全 年财务业绩。 每股收益 诺瓦瓦克斯报告第四季度每股收益为11美分，与去年同期每股亏损51美分相比实现扭亏。第四季度营收 为1.47亿美元，同比增长67%。 "随着2026年有一个强劲的开局，包括最近宣布的与辉瑞的Matrix-M协议，我们期待合作伙伴在商业和 临床开发方面的执行，推动我们的研发工作，并在我们利用技术推动疫苗创新和价值创造的过程中，期 待更多潜在的合作机会，"雅各布斯周四评论道。 业绩指引 诺瓦瓦克斯强调了2026年的营收预测，预计调整后总营收在2.3亿至2.7亿美元之间，而市场普遍预期为 3.8122亿美元。 公司预计实现Nuvaxovid产品销售额3500万至4500万美元，以及调整后供应销售额4000万至5000万美 元，这反映了与血清研究所等合作伙伴的持续合作。 技术分析 目前，该股交易价格较其20日简单移动平均线（SMA）高出8.4%，较其100日SMA高出9.2%，显示出短 期强势。在过去12个月中，股价大幅上涨，目前更接近其52周高点而非低点，反映出强劲的上升趋势。 ...

Novavax Inc. (NASDAQ:NVAX) shares are up on Thursday following the company’s announcement of its fourth-quarter and full-year 2025 financial results.EarningsNovavax reported fourth-quarter earnings of 11 cents, a shift from a loss of 51 cents a year ago. evenue for the fourth quarter was $147 million, a 67% year-over-year increase.Novavax on Thursday said it beat its 2025 cost-cutting targets across both GAAP and Non-GAAP R&D and SG&A spending and is tightening future expense goals.The company now expects N ...

Novavax (NasdaqGS:NVAX) Q4 2025 Earnings call February 26, 2026 08:30 AM ET Company ParticipantsChris LoBianco - VP of Equity ResearchElaine O'Hara - Chief Strategy OfficerJim Kelly - CFO and TreasurerJohn Jacobs - President and CEOLuis Sanay - VP of Investor RelationsMayank Mamtani - Senior Managing DirectorRuxandra Draghia - Head of R&DSean Lee - VP of Equity ResearchConference Call ParticipantsRoger Song - AnalystTom Shrader - Managing Director and Healthcare AnalystNone - AnalystNone - AnalystNone - Ana ...

Novavax (NasdaqGS:NVAX) Q4 2025 Earnings call February 26, 2026 08:30 AM ET Company ParticipantsChris LoBianco - VP of Equity ResearchElaine O'Hara - Chief Strategy OfficerJim Kelly - CFO and TreasurerJohn Jacobs - President and CEOLuis Sanay - VP of Investor RelationsMayank Mamtani - Senior Managing DirectorRuxandra Draghia - Head of R&DSean Lee - VP of Equity ResearchConference Call ParticipantsRoger Song - AnalystTom Shrader - Managing Director and Healthcare AnalystNone - AnalystNone - AnalystNone - Ana ...

Novavax (NasdaqGS:NVAX) Q4 2025 Earnings call February 26, 2026 08:30 AM ET Speaker6Welcome to Novavax Fourth Quarter and Full Year 2025 Financial Results and Operational Highlights Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star followed by 0. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then 1 on your touchtone phone. To withdraw your qu ...

Fourth Quarter and Full Year 2025 Financial Results and Operational Highlights February 26, 2026 © 2026 NOVAVAX. All rights reserved This presentation includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. These forward-looking statements address various matters including Novavax's corporate st ...

Skip to main content Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv Novavax raises 2026 adjusted revenue outlook on strength in vaccine deals Earlier this month, the U.S. Food and Drug Administration initially refused to review rival Moderna's (MRNA.O), opens new tab mRNA-based flu vaccine, then reversed course a week later after the company amended its application. The biotech now expects 2026 adjusted revenue of $230 million to $270 million, up from its prio ...

Financial Data and Key Metrics Changes - In Q4 2025, the company achieved net sales of EUR 11.3 billion, reflecting a growth of 13.3% year-over-year [6][12] - For the full year 2025, total sales reached EUR 43.6 billion, representing a 9.9% growth at constant exchange rates [14] - Business EPS growth was strong at 26.7%, indicating effective operational leverage [12] - Business gross margin expanded by 1.8 percentage points to 77.5%, driven by a favorable product mix and operational efficiencies [14] Business Line Data and Key Metrics Changes - Newly launched medicines and vaccines generated EUR 5.7 billion in sales, with a growth of 34% in 2025 [4][6] - Dupixent sales reached EUR 4.2 billion in Q4 and EUR 15.7 billion for the full year, with over 30% increase in patient numbers [7][8] - Beyfortus sales grew by 9.5% to EUR 1.8 billion, driven by geographic expansion [8][9] Market Data and Key Metrics Changes - The company maintained leadership in influenza and RSV vaccines, with full year sales of EUR 7.9 billion [8] - The U.S. market share for influenza vaccines increased, particularly with Fluzone High-Dose and Flublok [8] - Beyfortus has protected over 11 million babies in more than 45 countries, preventing an estimated 200,000 hospitalizations [9] Company Strategy and Development Direction - The company is transitioning into an R&D-driven, AI-powered biopharma entity, focusing on business development and M&A opportunities [4] - Strategic acquisitions, including Vicebio and Dynavax Technologies, are aimed at enhancing the vaccine portfolio and expanding into older adult demographics [9][10] - The company plans to continue investing in manufacturing capacity to meet growing patient demand [14] Management's Comments on Operating Environment and Future Outlook - Management expects 2026 to deliver profitable growth close to 2025 levels, with high single-digit sales growth anticipated [17][18] - The company is preparing for potential challenges in vaccine sales and is focused on maintaining a stable G&A expense structure [18] - Management highlighted the importance of innovation and collaboration in achieving sustainable healthcare goals [10] Other Important Information - The company completed a EUR 5 billion share buyback program and proposed a 5% increase in dividends for the 31st consecutive year [17] - Free cash flow returned to strong levels at EUR 8.1 billion, representing 18.5% of sales, with a target of reaching at least 20% in the medium term [15] Q&A Session Summary Question: Can you elaborate on the Dupixent rollout and its competition? - Management reported strong performance with 25% year-over-year growth for Dupixent, driven by new indications like CSU and COPD [30][31] Question: What is the growth outlook for Beyfortus in 2026? - Management expressed optimism about Beyfortus performance, noting its availability in over 45 countries and a positive real-world evidence publication [34][36] Question: What are the prospects for Amlitelimab and its market penetration? - Management remains confident in Amlitelimab's potential, emphasizing its novel mechanism and the importance of ongoing data collection [39][41] Question: How is the company addressing the recent changes in the U.S. pediatric vaccination schedule? - Management acknowledged potential confusion but emphasized proactive engagement with healthcare providers to maintain vaccination rates [77][78] Question: What is the strategy for capital allocation moving forward? - Management indicated a dynamic allocation strategy guided by AI, focusing on maximizing value from investments [60]

Core Insights - The company reported a Q4 sales growth of 13.3% at constant exchange rates (CER) and a business earnings per share (EPS) of €1.53, reflecting strong performance driven by new medicines and Dupixent [1][2]. Sales Performance - In Q4 2025, net sales reached €11.3 billion, marking a 7.0% increase year-over-year at actual exchange rates and a 13.3% increase at CER [5]. - For the full year 2025, net sales totaled €43.6 billion, with a 6.2% increase at actual exchange rates and a 9.9% increase at CER [5]. Earnings Performance - Business EPS for Q4 2025 was €1.53, up by 16.8% at actual exchange rates and 26.7% at CER [5]. - The full year 2025 business EPS improved to €7.83, reflecting a 10.0% increase at actual exchange rates and a 15.0% increase at CER [5]. Product Developments - The company launched three new medicines and vaccines in 2025, contributing to sales growth [3]. - Dupixent sales increased by 32.2% to €4.2 billion, while pharmaceutical launches increased sales by 49.4%, reaching €1.1 billion [4]. Regulatory Approvals and R&D - The company obtained ten regulatory approvals across various therapeutic areas, including immunology and rare diseases [4]. - Research and Development expenses reached €2.3 billion, up by 6.6%, indicating continued investment in innovation [4]. Future Guidance - For 2026, the company expects sales to grow by a high single-digit percentage at CER, with business EPS anticipated to grow slightly faster than sales [2][4]. - A share buyback program of €1 billion is planned for 2026 [2]. Financial Management - The company completed a €5 billion share buyback program and proposed a dividend of €4.12, up by 5.1% [4]. - Free cash flow for Q4 2025 was €2.6 billion, reflecting a 12.7% increase [5].