Novavax reported third quarter 2026 revenue of $68.3 million, representing a 3% year-over-year decrease that significantly outperformed the analyst consensus of $50.42 million. The company's net loss narrowed to $31.4 million, or ($0.19) per share, compared to a loss of $202.4 million in the same period last year. Management aggressively raised its full-year 2026 adjusted total revenue guidance by $145 million at the midpoint, primarily reflecting clinical progress and milestone achievements within its partnership network.
Key Highlights
- Total operating expenses were reduced by 60% year-over-year to $99.6 million as lead commercial activities transitioned to Sanofi and the company eliminated commercial infrastructure.
- Product sales increased 91% year-over-year to $26 million, driven by supply sales of Nuvaxovid and Matrix-M to license partners.
- A $125 million milestone payment was earned in October 2026 following the initiation of Sanofi's Phase 3 influenza-COVID-19 combination vaccine trial in Europe.