Dynavax Technologies Corporation (DVAX) 10-Year Financial Performance & Capital Metrics

DVAX • • Industrial / General

HealthcareSpecialty & Generic PharmaBiologics & BiosimilarsVaccine Development

AboutDynavax Technologies Corporation, a biopharmaceutical company, focuses on developing and commercializing novel vaccines in the United States. The company markets HEPLISAV-B, a hepatitis B vaccine for prevention of infection caused by all known subtypes of hepatitis B virus in age 18 years and older in the United States and Europe. It also manufactures and sells CpG 1018, the adjuvant used in HEPLISAV-B. Dynavax Technologies Corporation has a collaboration agreement with Valneva Scotland Limited; agreement with Serum Institute of India Pvt. Ltd.; and sublicense agreement with Merck, Sharp & Dohme Corp. The company was formerly known as Double Helix Corporation and changed its name to Dynavax Technologies Corporation in September 1996. Dynavax Technologies Corporation was incorporated in 1996 and is headquartered in Emeryville, California.Show more

Revenue $277M +19.4%
EBITDA $4M +113.2%
Net Income $27M +527.4%
EPS (Diluted) 0.20 +503.2%
Gross Margin 82.17% +4.8%
EBITDA Margin 1.42% +111.1%
Operating Margin -1.49% +90.7%
Net Margin 9.85% +458.1%
ROE 4.48% +521.9%
ROIC -0.42% +89.8%
Debt/Equity 0.43 +3.2%
Interest Coverage -0.61 +88.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 25.5%
✓FCF machine: 21.7% free cash flow margin
✓Momentum leader: RS Rating 87 (top 13%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 51.1%
✓Trading near 52-week high

✗Weaknesses

✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y38.05%

5Y51.08%

3Y-14.23%

TTM26.73%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-29.13%

TTM-311.94%

EPS CAGR

10Y-

5Y-

3Y-29.47%

TTM-395.34%

ROCE

10Y Avg-32.07%

5Y Avg8.77%

3Y Avg12.79%

Latest-0.45%

Peer Comparison

Vaccine Development

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DVAXDynavax Technologies Corporation	1.78B	15.62	78.10	19.36%	-13.13%	-8.13%	3.39%	0.43
VXRTVaxart, Inc.	156.04M	0.65	-4.64	288.94%	-34.21%	-189.5%		0.40

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	4.05M	11.04M	327K	8.2M	35.22M	46.55M	439.44M	722.68M	232.28M	277.25M
Revenue Growth %	-0.63%	1.73%	-0.97%	24.07%	3.3%	0.32%	8.44%	0.64%	-0.68%	0.19%
Cost of Goods Sold+	0	0	1.19M	21.8M	19.39M	13.91M	173.57M	262.15M	50.17M	49.45M
COGS % of Revenue	-	-	3.65%	2.66%	0.55%	0.3%	0.39%	0.36%	0.22%	0.18%
Gross Profit+	4.05M	11.04M	-867K	-13.6M	15.83M	32.64M	265.87M	460.53M	182.12M	227.8M
Gross Margin %	1%	1%	-2.65%	-1.66%	0.45%	0.7%	0.61%	0.64%	0.78%	0.82%
Gross Profit Growth %	-0.63%	1.73%	-1.08%	-14.68%	2.16%	1.06%	7.15%	0.73%	-0.6%	0.25%
Operating Expenses+	109.12M	121.75M	93.55M	139.72M	150.67M	107.86M	131.38M	177.01M	219.15M	231.92M
OpEx % of Revenue	26.94%	11.03%	286.08%	17.04%	4.28%	2.32%	0.3%	0.24%	0.94%	0.84%
Selling, General & Admin	22.18M	37.26M	27.37M	64.77M	74.99M	79.26M	100.16M	131.41M	152.95M	170.37M
SG&A % of Revenue	5.48%	3.37%	83.69%	7.9%	2.13%	1.7%	0.23%	0.18%	0.66%	0.61%
Research & Development	86.94M	84.49M	64.99M	74.95M	62.33M	28.61M	32.23M	46.6M	54.89M	61.55M
R&D % of Revenue	21.47%	7.65%	198.74%	9.14%	1.77%	0.61%	0.07%	0.06%	0.24%	0.22%
Other Operating Expenses	317K	0	-486K	-70K	13.36M	0	-1M	-1M	11.31M	0
Operating Income+	-105.07M	-110.71M	-96M	-153.32M	-134.84M	-75.22M	134.49M	283.52M	-37.03M	-4.12M
Operating Margin %	-25.94%	-10.03%	-293.59%	-18.7%	-3.83%	-1.62%	0.31%	0.39%	-0.16%	-0.01%
Operating Income Growth %	-0.15%	-0.05%	0.13%	-0.6%	0.12%	0.44%	2.79%	1.11%	-1.13%	0.89%
EBITDA+	-103.71M	-108.45M	-91.57M	-138.84M	-113.31M	-65.89M	141.54M	290.19M	-29.75M	3.93M
EBITDA Margin %	-25.61%	-9.82%	-280.02%	-16.94%	-3.22%	-1.42%	0.32%	0.4%	-0.13%	0.01%
EBITDA Growth %	-0.15%	-0.05%	0.16%	-0.52%	0.18%	0.42%	3.15%	1.05%	-1.1%	1.13%
D&A (Non-Cash Add-back)	1.36M	2.26M	4.44M	14.48M	21.53M	9.34M	7.06M	6.67M	7.28M	8.05M
EBIT	-106.22M	-112.44M	-95.15M	-149.56M	-135.62M	-56.18M	88.7M	301.03M	2.39M	37.65M
Net Interest Income+	-367K	755K	1.34M	-5.51M	-13.61M	-17.8M	-11.04M	1.18M	25.24M	29.67M
Interest Income	205K	755K	1.34M	3.83M	3.37M	1.26M	140K	7.91M	31.99M	36.46M
Interest Expense	572K	0	0	9.34M	16.98M	19.06M	11.18M	6.73M	6.76M	6.79M
Other Income/Expense	-1.72M	-1.74M	851K	-5.58M	-17.76M	-18K	-56.97M	10.78M	32.66M	34.98M
Pretax Income+	-106.79M	-112.44M	-95.15M	-158.9M	-152.6M	-75.24M	77.52M	294.3M	-4.37M	30.86M
Pretax Margin %	-26.37%	-10.18%	-290.99%	-19.38%	-4.33%	-1.62%	0.18%	0.41%	-0.02%	0.11%
Income Tax+	-476K	0	0	0	0	0	808K	1.14M	2.02M	3.55M
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	0.99%	1%	1.46%	0.89%
Net Income+	-106.79M	-112.44M	-95.15M	-158.9M	-152.6M	-75.24M	76.71M	293.16M	-6.39M	27.31M
Net Margin %	-26.37%	-10.18%	-290.99%	-19.38%	-4.33%	-1.62%	0.17%	0.41%	-0.03%	0.1%
Net Income Growth %	-0.18%	-0.05%	0.15%	-0.67%	0.04%	0.51%	2.02%	2.82%	-1.02%	5.27%
Net Income (Continuing)	-106.79M	-112.44M	-95.15M	-158.9M	-152.6M	-75.24M	76.71M	293.16M	-6.39M	27.31M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-3.25	-2.92	-1.81	-2.55	-2.10	-0.78	0.57	1.97	-0.05	0.20
EPS Growth %	0.06%	0.1%	0.38%	-0.41%	0.18%	0.63%	1.73%	2.46%	-1.03%	5.03%
EPS (Basic)	-3.25	-2.92	-1.81	-2.55	-2.10	-0.75	0.62	2.32	-0.05	0.21
Diluted Shares Outstanding	32.88M	38.51M	52.61M	62.36M	72.02M	100.75M	133.01M	150.8M	128.73M	133.34M
Basic Shares Outstanding	32.88M	38.51M	52.61M	62.36M	72.02M	100.75M	116.26M	126.4M	128.73M	130.05M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	196.13M	81.42M	191.85M	164.56M	208.65M	290.01M	972.52M	916.99M	859.12M	848.94M
Cash & Short-Term Investments	196.13M	81.42M	191.85M	145.54M	151.06M	165.04M	545.95M	624.39M	742.3M	713.83M
Cash Only	44.81M	24.29M	26.58M	49.35M	39.88M	32.07M	436.19M	202M	150.28M	95.88M
Short-Term Investments	151.31M	57.13M	165.27M	96.19M	111.17M	132.96M	109.76M	422.39M	592.02M	617.95M
Accounts Receivable	1.39M	1.34M	854K	3.7M	8.89M	22.66M	131.82M	147.51M	44.53M	46.91M
Days Sales Outstanding	125.63	44.36	953.24	164.91	92.09	177.68	109.49	74.5	69.98	61.75
Inventory	-3.82M	-8.18M	312K	19.02M	41.33M	63.69M	61.34M	59.45M	53.29M	70.05M
Days Inventory Outstanding	-	-	95.38	318.55	778.08	1.67K	128.98	82.77	387.72	517.13
Other Current Assets	0	6.84M	1.31M	6.1M	0	0	73.76M	85.63M	19M	18.15M
Total Non-Current Assets+	20.51M	28.27M	26.93M	46.33M	70.42M	63.26M	66.73M	68.86M	137.98M	137.31M
Property, Plant & Equipment	13.8M	17.17M	16.62M	17.06M	62.27M	57.15M	60.98M	63.34M	61.58M	60.61M
Fixed Asset Turnover	0.29x	0.64x	0.02x	0.48x	0.57x	0.81x	7.21x	11.41x	3.77x	4.57x
Goodwill	2.04M	1.97M	2.24M	2.14M	2.08M	2.3M	2.13M	2.01M	2.07M	1.95M
Intangible Assets	0	0	0	11.72M	2.5M	0	0	0	0	0
Long-Term Investments	0	602K	629K	619K	0	0	0	0	0	71.58M
Other Non-Current Assets	4.66M	9.12M	8.07M	15.4M	3.56M	3.81M	3.62M	3.52M	74.33M	3.18M
Total Assets+	216.63M	109.68M	218.78M	210.88M	279.07M	353.27M	1.04B	985.85M	997.1M	986.26M
Asset Turnover	0.02x	0.10x	0.00x	0.04x	0.13x	0.13x	0.42x	0.73x	0.23x	0.28x
Asset Growth %	0.57%	-0.49%	0.99%	-0.04%	0.32%	0.27%	1.94%	-0.05%	0.01%	-0.01%
Total Current Liabilities+	28.79M	20.04M	18.59M	38.03M	53.05M	77.41M	556.4M	150.07M	62.2M	78.63M
Accounts Payable	3.43M	3.8M	4.54M	5.28M	9.28M	3.31M	2.6M	3.21M	5.25M	9.06M
Days Payables Outstanding	-	-	1.39K	88.39	174.66	86.91	5.47	4.47	38.16	66.89
Short-Term Debt	0	0	0	0	0	0	0	0	0	4.17M
Deferred Revenue (Current)	1000K	0	0	0	0	1000K	1000K	0	0	0
Other Current Liabilities	0	0	0	24.7M	24.85M	10.74M	18.03M	0	24K	22K
Current Ratio	6.81x	4.06x	10.32x	4.33x	3.93x	3.75x	1.75x	6.11x	13.81x	10.80x
Quick Ratio	6.95x	4.47x	10.30x	3.83x	3.15x	2.92x	1.64x	5.71x	12.96x	9.91x
Cash Conversion Cycle	-	-	-338.93	395.07	695.51	1.76K	233	152.8	419.54	512
Total Non-Current Liabilities+	29.55M	20.48M	19.24M	109.79M	217.73M	217.17M	260.47M	254.76M	312.83M	310.82M
Long-Term Debt	0	0	0	100.87M	178.6M	179.81M	220.49M	221.58M	222.7M	223.85M
Capital Lease Obligations	0	0	0	0	37.84M	34.79M	34.32M	32.8M	29.72M	26.39M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	26.9M	20.48M	643K	8.91M	1.28M	2.57M	5.66M	384K	60.41M	60.58M
Total Liabilities	29.55M	20.48M	19.24M	147.82M	270.78M	294.58M	816.87M	404.84M	375.02M	389.46M
Total Debt+	0	0	0	100.87M	216.45M	217.85M	257.38M	258.01M	256.91M	254.42M
Net Debt	-44.81M	-24.29M	-26.58M	51.52M	176.56M	185.77M	-178.81M	56.01M	106.64M	158.53M
Debt / Equity	-	-	-	1.60x	26.11x	3.71x	1.16x	0.44x	0.41x	0.43x
Debt / EBITDA	-	-	-	-	-	-	1.82x	0.89x	-	64.74x
Net Debt / EBITDA	-	-	-	-	-	-	-1.26x	0.19x	-	40.34x
Interest Coverage	-183.69x	-	-	-16.42x	-7.94x	-3.95x	12.03x	42.12x	-5.48x	-0.61x
Total Equity+	187.08M	89.2M	199.55M	63.06M	8.29M	58.69M	222.37M	581.01M	622.07M	596.8M
Equity Growth %	0.86%	-0.52%	1.24%	-0.68%	-0.87%	6.08%	2.79%	1.61%	0.07%	-0.04%
Book Value per Share	5.69	2.32	3.79	1.01	0.12	0.58	1.67	3.85	4.83	4.48
Total Shareholders' Equity	187.08M	89.2M	199.55M	63.06M	8.29M	58.69M	222.37M	581.01M	622.07M	596.8M
Common Stock	38K	39K	62K	63K	84K	110K	123K	128K	130K	125K
Retained Earnings	-699.73M	-812.17M	-907.33M	-1.07B	-1.22B	-1.29B	-1.22B	-924.2M	-930.58M	-903.27M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-2.93M	-3.62M	-881K	-2.02M	-2.39M	273K	-2.27M	-5.44M	-2.11M	-4.72M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-92.56M	-107.05M	-77.52M	-131.3M	-121.25M	-92.25M	335.53M	62.72M	100.56M	66.51M
Operating CF Margin %	-22.85%	-9.69%	-237.06%	-16.02%	-3.44%	-1.98%	0.76%	0.09%	0.43%	0.24%
Operating CF Growth %	-0.26%	-0.16%	0.28%	-0.69%	0.08%	0.24%	4.64%	-0.81%	0.6%	-0.34%
Net Income	-106.79M	-112.44M	-95.15M	-158.9M	-152.6M	-75.24M	76.71M	293.16M	-6.39M	27.31M
Depreciation & Amortization	1.36M	2.26M	4.44M	14.48M	21.53M	9.34M	7.06M	6.67M	7.28M	8.05M
Stock-Based Compensation	9.32M	14.13M	14.92M	23.48M	25.46M	13.48M	21.29M	32.91M	42.59M	52.62M
Deferred Taxes	2.38M	1.13M	-203K	-1.46M	6.06M	0	0	61.77M	-5.24M	0
Other Non-Cash Items	272K	602K	-209K	2.75M	11.97M	-6.92M	58.25M	-33.38M	1.12M	-5.43M
Working Capital Changes	905K	-12.72M	-1.31M	-11.66M	-33.67M	-32.91M	172.22M	-298.42M	61.21M	-16.04M
Change in Receivables	-667K	52K	52K	7.34M	-17.84M	-13.78M	-109.16M	-15.7M	43.27M	-2.37M
Change in Inventory	10.65M	-11.2M	-312K	-18.71M	-22.31M	-22.36M	-234K	-32.4M	3.91M	-19.91M
Change in Payables	1.25M	1.18M	-1.92M	3.42M	4.85M	-3.45M	-767K	691K	1.95M	3.9M
Cash from Investing+	-85.8M	86.25M	-108.7M	55.47M	-42.78M	-26.53M	14.22M	-316M	-153.93M	-18.04M
Capital Expenditures	-6.97M	-7.76M	-669K	-15.19M	-29.4M	-4.07M	-9.48M	-7.14M	-4.1M	-6.35M
CapEx % of Revenue	1.72%	0.7%	2.05%	1.85%	0.83%	0.09%	0.02%	0.01%	0.02%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	-11M	-7M	-149K	1M	0	0	0
Cash from Financing+	173.96M	531K	187.84M	99.07M	154.35M	109.5M	55.78M	19.52M	1.39M	-102.02M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	1.05M	531K	1.91M	71K	567K	961K	-2.01M	1.43M	-4.97M	-2.02M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-99.53M	-114.81M	-78.19M	-146.49M	-150.65M	-103.32M	326.05M	55.58M	96.46M	60.16M
FCF Margin %	-24.58%	-10.4%	-239.1%	-17.87%	-4.28%	-2.22%	0.74%	0.08%	0.42%	0.22%
FCF Growth %	-0.32%	-0.15%	0.32%	-0.87%	-0.03%	0.31%	4.16%	-0.83%	0.74%	-0.38%
FCF per Share	-3.03	-2.98	-1.49	-2.35	-2.09	-1.03	2.45	0.37	0.75	0.45
FCF Conversion (FCF/Net Income)	0.87x	0.95x	0.81x	0.83x	0.79x	1.23x	4.37x	0.21x	-15.74x	2.44x
Interest Paid	0	0	0	0	0	16.54M	9.81M	5.64M	5.64M	5.64M
Taxes Paid	0	0	0	0	0	0	1.31M	2.21M	2.01M	4.58M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-74.28%	-81.4%	-65.91%	-121.01%	-427.72%	-224.65%	54.59%	72.98%	-1.06%	4.48%
Return on Invested Capital (ROIC)	-77.72%	-80.15%	-60.54%	-79.98%	-67.55%	-26.28%	70.04%	62.49%	-4.07%	-0.42%
Gross Margin	100%	100%	-265.14%	-165.87%	44.95%	70.12%	60.5%	63.73%	78.4%	82.17%
Net Margin	-2636.89%	-1018.24%	-29099.08%	-1938.27%	-433.29%	-161.63%	17.46%	40.56%	-2.75%	9.85%
Debt / Equity	-	-	-	1.60x	26.11x	3.71x	1.16x	0.44x	0.41x	0.43x
Interest Coverage	-183.69x	-	-	-16.42x	-7.94x	-3.95x	12.03x	42.12x	-5.48x	-0.61x
FCF Conversion	0.87x	0.95x	0.81x	0.83x	0.79x	1.23x	4.37x	0.21x	-15.74x	2.44x
Revenue Growth	-63.29%	172.67%	-97.04%	2407.03%	329.6%	32.18%	844%	64.45%	-67.86%	19.36%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
H E P L I S A V B	-	-	36.03M	61.87M	125.94M	213.29M	268.43M
H E P L I S A V B Growth	-	-	-	71.72%	103.55%	69.37%	25.85%
Other Revenue	-	432K	7.24M	2.34M	9.04M	18.99M	8.82M
Other Revenue Growth	-	-	1576.85%	-67.66%	285.74%	110.10%	-53.57%
Cp G1018	-	-	3.28M	375.23M	587.71M	-	-
Cp G1018 Growth	-	-	-	11350.38%	56.63%	-	-
Collaboration Revenue	1.39M	143K	-	-	-	-	-
Collaboration Revenue Growth	-	-89.68%	-	-	-	-	-

Revenue by Geography

	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	-	-	-	63.78M	133.77M	230.94M	273.62M
UNITED STATES Growth	-	-	-	-	109.72%	72.64%	18.48%
Non-US	-	-	-	375.66M	588.91M	1.34M	3.63M
Non-US Growth	-	-	-	-	56.77%	-99.77%	171.17%

Frequently Asked Questions

Valuation & Price

Dynavax Technologies Corporation (DVAX) has a price-to-earnings (P/E) ratio of 78.1x. This suggests investors expect higher future growth.

Growth & Financials

Dynavax Technologies Corporation (DVAX) reported $330.5M in revenue for fiscal year 2024. This represents a 1429% increase from $21.6M in 2011.

Dynavax Technologies Corporation (DVAX) grew revenue by 19.4% over the past year. This is strong growth.

Dynavax Technologies Corporation (DVAX) reported a net loss of $43.4M for fiscal year 2024.

Dividend & Returns

Dynavax Technologies Corporation (DVAX) has a return on equity (ROE) of 4.5%. This is below average, suggesting room for improvement.

Dynavax Technologies Corporation (DVAX) generated $80.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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Dynavax Technologies Corporation (DVAX) 10-Year Financial Performance & Capital Metrics

DVAX • • Industrial / General

HealthcareSpecialty & Generic PharmaBiologics & BiosimilarsVaccine Development

Revenue $277M +19.4%
EBITDA $4M +113.2%
Net Income $27M +527.4%
EPS (Diluted) 0.20 +503.2%
Gross Margin 82.17% +4.8%
EBITDA Margin 1.42% +111.1%
Operating Margin -1.49% +90.7%
Net Margin 9.85% +458.1%
ROE 4.48% +521.9%
ROIC -0.42% +89.8%
Debt/Equity 0.43 +3.2%
Interest Coverage -0.61 +88.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 25.5%
✓FCF machine: 21.7% free cash flow margin
✓Momentum leader: RS Rating 87 (top 13%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 51.1%
✓Trading near 52-week high

✗Weaknesses

✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y38.05%

5Y51.08%

3Y-14.23%

TTM26.73%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-29.13%

TTM-311.94%

EPS CAGR

10Y-

5Y-

3Y-29.47%

TTM-395.34%

ROCE

10Y Avg-32.07%

5Y Avg8.77%

3Y Avg12.79%

Latest-0.45%

Peer Comparison

Vaccine Development

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DVAXDynavax Technologies Corporation	1.78B	15.62	78.10	19.36%	-13.13%	-8.13%	3.39%	0.43
VXRTVaxart, Inc.	156.04M	0.65	-4.64	288.94%	-34.21%	-189.5%		0.40

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	4.05M	11.04M	327K	8.2M	35.22M	46.55M	439.44M	722.68M	232.28M	277.25M
Revenue Growth %	-0.63%	1.73%	-0.97%	24.07%	3.3%	0.32%	8.44%	0.64%	-0.68%	0.19%
Cost of Goods Sold+	0	0	1.19M	21.8M	19.39M	13.91M	173.57M	262.15M	50.17M	49.45M
COGS % of Revenue	-	-	3.65%	2.66%	0.55%	0.3%	0.39%	0.36%	0.22%	0.18%
Gross Profit+	4.05M	11.04M	-867K	-13.6M	15.83M	32.64M	265.87M	460.53M	182.12M	227.8M
Gross Margin %	1%	1%	-2.65%	-1.66%	0.45%	0.7%	0.61%	0.64%	0.78%	0.82%
Gross Profit Growth %	-0.63%	1.73%	-1.08%	-14.68%	2.16%	1.06%	7.15%	0.73%	-0.6%	0.25%
Operating Expenses+	109.12M	121.75M	93.55M	139.72M	150.67M	107.86M	131.38M	177.01M	219.15M	231.92M
OpEx % of Revenue	26.94%	11.03%	286.08%	17.04%	4.28%	2.32%	0.3%	0.24%	0.94%	0.84%
Selling, General & Admin	22.18M	37.26M	27.37M	64.77M	74.99M	79.26M	100.16M	131.41M	152.95M	170.37M
SG&A % of Revenue	5.48%	3.37%	83.69%	7.9%	2.13%	1.7%	0.23%	0.18%	0.66%	0.61%
Research & Development	86.94M	84.49M	64.99M	74.95M	62.33M	28.61M	32.23M	46.6M	54.89M	61.55M
R&D % of Revenue	21.47%	7.65%	198.74%	9.14%	1.77%	0.61%	0.07%	0.06%	0.24%	0.22%
Other Operating Expenses	317K	0	-486K	-70K	13.36M	0	-1M	-1M	11.31M	0
Operating Income+	-105.07M	-110.71M	-96M	-153.32M	-134.84M	-75.22M	134.49M	283.52M	-37.03M	-4.12M
Operating Margin %	-25.94%	-10.03%	-293.59%	-18.7%	-3.83%	-1.62%	0.31%	0.39%	-0.16%	-0.01%
Operating Income Growth %	-0.15%	-0.05%	0.13%	-0.6%	0.12%	0.44%	2.79%	1.11%	-1.13%	0.89%
EBITDA+	-103.71M	-108.45M	-91.57M	-138.84M	-113.31M	-65.89M	141.54M	290.19M	-29.75M	3.93M
EBITDA Margin %	-25.61%	-9.82%	-280.02%	-16.94%	-3.22%	-1.42%	0.32%	0.4%	-0.13%	0.01%
EBITDA Growth %	-0.15%	-0.05%	0.16%	-0.52%	0.18%	0.42%	3.15%	1.05%	-1.1%	1.13%
D&A (Non-Cash Add-back)	1.36M	2.26M	4.44M	14.48M	21.53M	9.34M	7.06M	6.67M	7.28M	8.05M
EBIT	-106.22M	-112.44M	-95.15M	-149.56M	-135.62M	-56.18M	88.7M	301.03M	2.39M	37.65M
Net Interest Income+	-367K	755K	1.34M	-5.51M	-13.61M	-17.8M	-11.04M	1.18M	25.24M	29.67M
Interest Income	205K	755K	1.34M	3.83M	3.37M	1.26M	140K	7.91M	31.99M	36.46M
Interest Expense	572K	0	0	9.34M	16.98M	19.06M	11.18M	6.73M	6.76M	6.79M
Other Income/Expense	-1.72M	-1.74M	851K	-5.58M	-17.76M	-18K	-56.97M	10.78M	32.66M	34.98M
Pretax Income+	-106.79M	-112.44M	-95.15M	-158.9M	-152.6M	-75.24M	77.52M	294.3M	-4.37M	30.86M
Pretax Margin %	-26.37%	-10.18%	-290.99%	-19.38%	-4.33%	-1.62%	0.18%	0.41%	-0.02%	0.11%
Income Tax+	-476K	0	0	0	0	0	808K	1.14M	2.02M	3.55M
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	0.99%	1%	1.46%	0.89%
Net Income+	-106.79M	-112.44M	-95.15M	-158.9M	-152.6M	-75.24M	76.71M	293.16M	-6.39M	27.31M
Net Margin %	-26.37%	-10.18%	-290.99%	-19.38%	-4.33%	-1.62%	0.17%	0.41%	-0.03%	0.1%
Net Income Growth %	-0.18%	-0.05%	0.15%	-0.67%	0.04%	0.51%	2.02%	2.82%	-1.02%	5.27%
Net Income (Continuing)	-106.79M	-112.44M	-95.15M	-158.9M	-152.6M	-75.24M	76.71M	293.16M	-6.39M	27.31M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-3.25	-2.92	-1.81	-2.55	-2.10	-0.78	0.57	1.97	-0.05	0.20
EPS Growth %	0.06%	0.1%	0.38%	-0.41%	0.18%	0.63%	1.73%	2.46%	-1.03%	5.03%
EPS (Basic)	-3.25	-2.92	-1.81	-2.55	-2.10	-0.75	0.62	2.32	-0.05	0.21
Diluted Shares Outstanding	32.88M	38.51M	52.61M	62.36M	72.02M	100.75M	133.01M	150.8M	128.73M	133.34M
Basic Shares Outstanding	32.88M	38.51M	52.61M	62.36M	72.02M	100.75M	116.26M	126.4M	128.73M	130.05M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	196.13M	81.42M	191.85M	164.56M	208.65M	290.01M	972.52M	916.99M	859.12M	848.94M
Cash & Short-Term Investments	196.13M	81.42M	191.85M	145.54M	151.06M	165.04M	545.95M	624.39M	742.3M	713.83M
Cash Only	44.81M	24.29M	26.58M	49.35M	39.88M	32.07M	436.19M	202M	150.28M	95.88M
Short-Term Investments	151.31M	57.13M	165.27M	96.19M	111.17M	132.96M	109.76M	422.39M	592.02M	617.95M
Accounts Receivable	1.39M	1.34M	854K	3.7M	8.89M	22.66M	131.82M	147.51M	44.53M	46.91M
Days Sales Outstanding	125.63	44.36	953.24	164.91	92.09	177.68	109.49	74.5	69.98	61.75
Inventory	-3.82M	-8.18M	312K	19.02M	41.33M	63.69M	61.34M	59.45M	53.29M	70.05M
Days Inventory Outstanding	-	-	95.38	318.55	778.08	1.67K	128.98	82.77	387.72	517.13
Other Current Assets	0	6.84M	1.31M	6.1M	0	0	73.76M	85.63M	19M	18.15M
Total Non-Current Assets+	20.51M	28.27M	26.93M	46.33M	70.42M	63.26M	66.73M	68.86M	137.98M	137.31M
Property, Plant & Equipment	13.8M	17.17M	16.62M	17.06M	62.27M	57.15M	60.98M	63.34M	61.58M	60.61M
Fixed Asset Turnover	0.29x	0.64x	0.02x	0.48x	0.57x	0.81x	7.21x	11.41x	3.77x	4.57x
Goodwill	2.04M	1.97M	2.24M	2.14M	2.08M	2.3M	2.13M	2.01M	2.07M	1.95M
Intangible Assets	0	0	0	11.72M	2.5M	0	0	0	0	0
Long-Term Investments	0	602K	629K	619K	0	0	0	0	0	71.58M
Other Non-Current Assets	4.66M	9.12M	8.07M	15.4M	3.56M	3.81M	3.62M	3.52M	74.33M	3.18M
Total Assets+	216.63M	109.68M	218.78M	210.88M	279.07M	353.27M	1.04B	985.85M	997.1M	986.26M
Asset Turnover	0.02x	0.10x	0.00x	0.04x	0.13x	0.13x	0.42x	0.73x	0.23x	0.28x
Asset Growth %	0.57%	-0.49%	0.99%	-0.04%	0.32%	0.27%	1.94%	-0.05%	0.01%	-0.01%
Total Current Liabilities+	28.79M	20.04M	18.59M	38.03M	53.05M	77.41M	556.4M	150.07M	62.2M	78.63M
Accounts Payable	3.43M	3.8M	4.54M	5.28M	9.28M	3.31M	2.6M	3.21M	5.25M	9.06M
Days Payables Outstanding	-	-	1.39K	88.39	174.66	86.91	5.47	4.47	38.16	66.89
Short-Term Debt	0	0	0	0	0	0	0	0	0	4.17M
Deferred Revenue (Current)	1000K	0	0	0	0	1000K	1000K	0	0	0
Other Current Liabilities	0	0	0	24.7M	24.85M	10.74M	18.03M	0	24K	22K
Current Ratio	6.81x	4.06x	10.32x	4.33x	3.93x	3.75x	1.75x	6.11x	13.81x	10.80x
Quick Ratio	6.95x	4.47x	10.30x	3.83x	3.15x	2.92x	1.64x	5.71x	12.96x	9.91x
Cash Conversion Cycle	-	-	-338.93	395.07	695.51	1.76K	233	152.8	419.54	512
Total Non-Current Liabilities+	29.55M	20.48M	19.24M	109.79M	217.73M	217.17M	260.47M	254.76M	312.83M	310.82M
Long-Term Debt	0	0	0	100.87M	178.6M	179.81M	220.49M	221.58M	222.7M	223.85M
Capital Lease Obligations	0	0	0	0	37.84M	34.79M	34.32M	32.8M	29.72M	26.39M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	26.9M	20.48M	643K	8.91M	1.28M	2.57M	5.66M	384K	60.41M	60.58M
Total Liabilities	29.55M	20.48M	19.24M	147.82M	270.78M	294.58M	816.87M	404.84M	375.02M	389.46M
Total Debt+	0	0	0	100.87M	216.45M	217.85M	257.38M	258.01M	256.91M	254.42M
Net Debt	-44.81M	-24.29M	-26.58M	51.52M	176.56M	185.77M	-178.81M	56.01M	106.64M	158.53M
Debt / Equity	-	-	-	1.60x	26.11x	3.71x	1.16x	0.44x	0.41x	0.43x
Debt / EBITDA	-	-	-	-	-	-	1.82x	0.89x	-	64.74x
Net Debt / EBITDA	-	-	-	-	-	-	-1.26x	0.19x	-	40.34x
Interest Coverage	-183.69x	-	-	-16.42x	-7.94x	-3.95x	12.03x	42.12x	-5.48x	-0.61x
Total Equity+	187.08M	89.2M	199.55M	63.06M	8.29M	58.69M	222.37M	581.01M	622.07M	596.8M
Equity Growth %	0.86%	-0.52%	1.24%	-0.68%	-0.87%	6.08%	2.79%	1.61%	0.07%	-0.04%
Book Value per Share	5.69	2.32	3.79	1.01	0.12	0.58	1.67	3.85	4.83	4.48
Total Shareholders' Equity	187.08M	89.2M	199.55M	63.06M	8.29M	58.69M	222.37M	581.01M	622.07M	596.8M
Common Stock	38K	39K	62K	63K	84K	110K	123K	128K	130K	125K
Retained Earnings	-699.73M	-812.17M	-907.33M	-1.07B	-1.22B	-1.29B	-1.22B	-924.2M	-930.58M	-903.27M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-2.93M	-3.62M	-881K	-2.02M	-2.39M	273K	-2.27M	-5.44M	-2.11M	-4.72M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-92.56M	-107.05M	-77.52M	-131.3M	-121.25M	-92.25M	335.53M	62.72M	100.56M	66.51M
Operating CF Margin %	-22.85%	-9.69%	-237.06%	-16.02%	-3.44%	-1.98%	0.76%	0.09%	0.43%	0.24%
Operating CF Growth %	-0.26%	-0.16%	0.28%	-0.69%	0.08%	0.24%	4.64%	-0.81%	0.6%	-0.34%
Net Income	-106.79M	-112.44M	-95.15M	-158.9M	-152.6M	-75.24M	76.71M	293.16M	-6.39M	27.31M
Depreciation & Amortization	1.36M	2.26M	4.44M	14.48M	21.53M	9.34M	7.06M	6.67M	7.28M	8.05M
Stock-Based Compensation	9.32M	14.13M	14.92M	23.48M	25.46M	13.48M	21.29M	32.91M	42.59M	52.62M
Deferred Taxes	2.38M	1.13M	-203K	-1.46M	6.06M	0	0	61.77M	-5.24M	0
Other Non-Cash Items	272K	602K	-209K	2.75M	11.97M	-6.92M	58.25M	-33.38M	1.12M	-5.43M
Working Capital Changes	905K	-12.72M	-1.31M	-11.66M	-33.67M	-32.91M	172.22M	-298.42M	61.21M	-16.04M
Change in Receivables	-667K	52K	52K	7.34M	-17.84M	-13.78M	-109.16M	-15.7M	43.27M	-2.37M
Change in Inventory	10.65M	-11.2M	-312K	-18.71M	-22.31M	-22.36M	-234K	-32.4M	3.91M	-19.91M
Change in Payables	1.25M	1.18M	-1.92M	3.42M	4.85M	-3.45M	-767K	691K	1.95M	3.9M
Cash from Investing+	-85.8M	86.25M	-108.7M	55.47M	-42.78M	-26.53M	14.22M	-316M	-153.93M	-18.04M
Capital Expenditures	-6.97M	-7.76M	-669K	-15.19M	-29.4M	-4.07M	-9.48M	-7.14M	-4.1M	-6.35M
CapEx % of Revenue	1.72%	0.7%	2.05%	1.85%	0.83%	0.09%	0.02%	0.01%	0.02%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	-11M	-7M	-149K	1M	0	0	0
Cash from Financing+	173.96M	531K	187.84M	99.07M	154.35M	109.5M	55.78M	19.52M	1.39M	-102.02M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	1.05M	531K	1.91M	71K	567K	961K	-2.01M	1.43M	-4.97M	-2.02M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-99.53M	-114.81M	-78.19M	-146.49M	-150.65M	-103.32M	326.05M	55.58M	96.46M	60.16M
FCF Margin %	-24.58%	-10.4%	-239.1%	-17.87%	-4.28%	-2.22%	0.74%	0.08%	0.42%	0.22%
FCF Growth %	-0.32%	-0.15%	0.32%	-0.87%	-0.03%	0.31%	4.16%	-0.83%	0.74%	-0.38%
FCF per Share	-3.03	-2.98	-1.49	-2.35	-2.09	-1.03	2.45	0.37	0.75	0.45
FCF Conversion (FCF/Net Income)	0.87x	0.95x	0.81x	0.83x	0.79x	1.23x	4.37x	0.21x	-15.74x	2.44x
Interest Paid	0	0	0	0	0	16.54M	9.81M	5.64M	5.64M	5.64M
Taxes Paid	0	0	0	0	0	0	1.31M	2.21M	2.01M	4.58M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-74.28%	-81.4%	-65.91%	-121.01%	-427.72%	-224.65%	54.59%	72.98%	-1.06%	4.48%
Return on Invested Capital (ROIC)	-77.72%	-80.15%	-60.54%	-79.98%	-67.55%	-26.28%	70.04%	62.49%	-4.07%	-0.42%
Gross Margin	100%	100%	-265.14%	-165.87%	44.95%	70.12%	60.5%	63.73%	78.4%	82.17%
Net Margin	-2636.89%	-1018.24%	-29099.08%	-1938.27%	-433.29%	-161.63%	17.46%	40.56%	-2.75%	9.85%
Debt / Equity	-	-	-	1.60x	26.11x	3.71x	1.16x	0.44x	0.41x	0.43x
Interest Coverage	-183.69x	-	-	-16.42x	-7.94x	-3.95x	12.03x	42.12x	-5.48x	-0.61x
FCF Conversion	0.87x	0.95x	0.81x	0.83x	0.79x	1.23x	4.37x	0.21x	-15.74x	2.44x
Revenue Growth	-63.29%	172.67%	-97.04%	2407.03%	329.6%	32.18%	844%	64.45%	-67.86%	19.36%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
H E P L I S A V B	-	-	36.03M	61.87M	125.94M	213.29M	268.43M
H E P L I S A V B Growth	-	-	-	71.72%	103.55%	69.37%	25.85%
Other Revenue	-	432K	7.24M	2.34M	9.04M	18.99M	8.82M
Other Revenue Growth	-	-	1576.85%	-67.66%	285.74%	110.10%	-53.57%
Cp G1018	-	-	3.28M	375.23M	587.71M	-	-
Cp G1018 Growth	-	-	-	11350.38%	56.63%	-	-
Collaboration Revenue	1.39M	143K	-	-	-	-	-
Collaboration Revenue Growth	-	-89.68%	-	-	-	-	-

Revenue by Geography

	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	-	-	-	63.78M	133.77M	230.94M	273.62M
UNITED STATES Growth	-	-	-	-	109.72%	72.64%	18.48%
Non-US	-	-	-	375.66M	588.91M	1.34M	3.63M
Non-US Growth	-	-	-	-	56.77%	-99.77%	171.17%

Frequently Asked Questions

Valuation & Price

Dynavax Technologies Corporation (DVAX) has a price-to-earnings (P/E) ratio of 78.1x. This suggests investors expect higher future growth.

Growth & Financials

Dynavax Technologies Corporation (DVAX) reported $330.5M in revenue for fiscal year 2024. This represents a 1429% increase from $21.6M in 2011.

Dynavax Technologies Corporation (DVAX) grew revenue by 19.4% over the past year. This is strong growth.

Dynavax Technologies Corporation (DVAX) reported a net loss of $43.4M for fiscal year 2024.

Dividend & Returns

Dynavax Technologies Corporation (DVAX) has a return on equity (ROE) of 4.5%. This is below average, suggesting room for improvement.

Dynavax Technologies Corporation (DVAX) generated $80.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.