Novavax Inc. (NASDAQ:NVAX) presented its first quarter 2025 financial results on May 8, 2025, revealing a dramatic financial turnaround that sent shares soaring in premarket trading. The vaccine developer reported total revenue of $667 million, a substantial increase from the $94 million recorded in the same period last year.
The company’s stock jumped 28.73% in premarket trading to $7.66, reflecting investor enthusiasm for the significantly improved financial performance and raised full-year guidance. This positive reaction follows a challenging period for Novavax, which had reported disappointing Q4 2024 results with revenue of just $88.3 million.
Quarterly Performance Highlights
Novavax reported a remarkable transformation in its financial position for Q1 2025, posting net income of $519 million compared to a net loss of $148 million in Q1 2024. This translated to earnings per share of $3.22 (basic) and $2.93 (diluted), a substantial improvement from the -$1.05 per share reported in the same quarter last year.
The company’s total revenue of $667 million consisted of $622 million in product sales and $45 million in licensing, royalties, and other revenue. Notably, the Nuvaxovid sales of $608 million included $603 million related to the termination of two Advanced Purchase Agreements (APAs) and recognition of cash received in prior years.
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