Novavax, Inc. (NVAX) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | -32.42M | -39.48M | 107.8M | -127.46M | -185.5M | -173.16M | -144.81M | 314.27M | -83.56M | -176.78M | -39.66M | -171.94M | -325.59M | -117.82M | -38.71M | -170.9M | -88.51M | -342.41M | -142.14M | 144.41M |
| Operating CF Margin % | -23.24% | -26.83% | 153.03% | -53.28% | -27.83% | -196.08% | -171.35% | 75.64% | -89.03% | -60.68% | -179.73% | -40.51% | 5065.23% | -40.93% | -5.27% | -91.92% | -14.64% | 47.13% | -79.48% | 48.46% |
| Operating CF Growth % | 82.52% | 77.2% | 174.44% | -140.56% | -122.01% | 2.05% | -265.18% | 282.78% | 74.34% | -50.05% | -2.45% | -0.61% | -267.86% | 65.59% | 72.77% | -218.34% | -113.35% | -166.32% | -2087.83% | 24.89% |
| Net Income | -9.49M | 17.53M | -202.38M | 106.51M | 518.65M | -81.03M | -121.3M | 162.38M | -147.55M | -178.39M | -130.78M | 58.01M | -293.9M | -182.25M | -168.61M | -510.49M | 203.41M | -846.28M | -322.43M | -352.32M |
| Depreciation & Amortization | 3.06M | 5.13M | 6.58M | 7.56M | 8.34M | 12.52M | 12.7M | 11.13M | 12.15M | 10.79M | 11.32M | 10.07M | 9.04M | 7.22M | 8.35M | 6.72M | 6.76M | 3.67M | 4.26M | 2.41M |
| Stock-Based Compensation | 0 | 7.97M | 8.55M | 9.21M | 10.29M | 10.45M | 12.05M | 14.1M | 11.56M | 15.66M | 20.76M | 20.29M | 28.65M | 27.77M | 31.54M | 38.05M | 32.93M | 32.17M | 45.27M | 53.12M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -982K | 3.61M | 129.12M | -10.42M | 16.83M | -66.45M | 4.1M | 11.43M | 6.03M | 24.75M | 15.06M | 30.3M | 11.24M | 70.59M | 221.47M | 150.88M | 848K | 116.94M | 3.29M | 9.25M |
| Working Capital Changes | -25.01M | -73.7M | 165.93M | -240.33M | -739.6M | -48.65M | -52.37M | 115.23M | 34.27M | -49.59M | 43.98M | -290.61M | -80.62M | -41.16M | -131.46M | 143.93M | -332.46M | 351.1M | 127.46M | 431.95M |
| Change in Receivables | 86.24M | -51.94M | 207.93M | -168.81M | 73.87M | 913K | -37.59M | 94.71M | 296.05M | -240.02M | 232.06M | -284.91M | 18.43M | 77.84M | 58.48M | 168.86M | -56.02M | -401.49M | 16.22M | 0 |
| Change in Inventory | -226K | 2.15M | -3.75M | -4.01M | 2.38M | -189K | -1.07M | -2.64M | 16.82M | 8.09M | -63.18M | -10.14M | -9.22M | -51.34M | -22.74M | -304.17M | -99.56M | 0 | 0 | 0 |
| Change in Payables | -60.08M | -21.54M | -26.54M | -62.64M | -211.85M | -42.47M | 23.33M | -94.02M | -272.46M | -29.54M | 93.98M | -213.14M | -230.1M | 822.98M | -88.74M | 294.66M | -115.5M | 0 | 65.5M | 61.89M |
| Cash from Investing | -28.36M | 20.48M | -136.53M | 111.1M | -73.32M | 144.01M | 31.91M | -372.71M | -7.25M | -9.08M | -18.39M | -7.78M | -23.56M | -22.06M | -29.52M | -24.58M | -16.83M | -16.36M | -12.19M | -12.9M |
| Capital Expenditures | -1.27M | -2.08M | -2.02M | -247K | -1.59M | -2.25M | -2.01M | -3.13M | -7.25M | -9.08M | -18.39M | -7.78M | 0 | 0 | 0 | 0 | -16.83M | 0 | 0 | -15.15M |
| CapEx % of Revenue | 0.91% | 1.41% | 2.86% | 0.1% | 0.24% | 2.55% | 2.38% | 0.75% | 7.72% | 3.12% | 83.35% | 1.83% | -366.49% | 7.67% | 4.02% | 13.22% | 2.78% | -2.25% | 6.82% | 5.08% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 39.75M | 19.48M | 0 | -280K | 0 | 192.64M | 0 | 0 | 0 | 0 | 0 | 0 | -23.56M | -22.06M | -29.52M | -24.58M | 0 | -16.36M | -12.19M | 0 |
| Cash from Financing | 37.67M | -6.6M | 42.44M | -1.04M | -7.06M | -3.42M | -97K | 258.22M | 5.89M | 100.39M | 197.12M | 61.34M | -354.38M | 191.44M | -30.98M | 4.66M | 159.87M | -60.71M | -15.72M | -38.84M |
| Debt Issued (Net) | 45.83M | -6.27M | 41.62M | -612K | -2.2M | -2.76M | -512K | -366K | -360K | -2.32M | 1.76M | -453K | -351.33M | 122.3M | -29.99M | 4.93M | -20.84M | -64.03M | -10.26M | -41.65M |
| Equity Issued (Net) | -8.16M | -330K | 820K | -428K | 0 | 0 | 0 | 256.41M | 6.86M | 103.25M | 195.01M | 61.99M | 0 | 69.14M | 0 | 0 | 179.38M | 0 | 0 | 2.8M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -8.16M | -330K | 820K | -428K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.65M |
| Other Financing | 0 | 0 | 0 | 0 | -4.86M | -666K | 415K | 2.17M | -616K | -540K | 354K | -198K | -3.05M | 0 | -983K | -268K | 1.32M | 3.32M | -5.46M | 0 |
| Net Change in Cash | -23.15M | -27.3M | 14.35M | -9.5M | -266.81M | -43.3M | -106.97M | 199.62M | -87.87M | -82.55M | 148.42M | -119M | -711.9M | 55.82M | -94.49M | -196.59M | 55.84M | -418.57M | -175.91M | 93.67M |
| Free Cash Flow | -33.69M | -41.55M | 105.79M | -127.71M | -187.1M | -175.41M | -146.83M | 311.14M | -90.81M | -185.86M | -58.05M | -179.72M | -349.15M | -139.88M | -68.23M | -195.48M | -105.34M | -358.77M | -154.33M | 129.26M |
| FCF Margin % | -24.15% | -28.24% | 150.17% | -53.38% | -28.07% | -198.63% | -173.73% | 74.89% | -96.75% | -63.79% | -263.08% | -42.34% | 5431.72% | -48.6% | -9.29% | -105.14% | -17.42% | 49.38% | -86.29% | 43.37% |
| FCF Growth % | 81.99% | 76.31% | 172.05% | -141.04% | -106.04% | 5.62% | -152.95% | 273.13% | 73.99% | -32.87% | 14.92% | 8.06% | -231.46% | 61.01% | 55.79% | -251.23% | -116.22% | -110.32% | -913.81% | 15.54% |
| FCF per Share | -0.21 | -0.24 | 0.65 | -0.72 | -1.05 | -1.09 | -0.92 | 1.88 | -0.65 | -1.50 | -0.56 | -1.73 | -4.05 | -1.75 | -0.87 | -2.50 | -1.31 | -4.82 | -2.06 | 1.74 |
| FCF Conversion (FCF/Net Income) | 3.42x | -2.25x | -0.53x | -1.20x | -0.36x | 2.14x | 1.19x | 1.94x | 0.57x | 0.99x | 0.30x | -2.96x | 1.11x | 0.65x | 0.23x | 0.33x | -0.44x | 0.40x | 0.44x | -0.41x |
| Interest Paid | 0 | 0 | 0 | 7.01M | 2.8M | 9.07M | 1.32M | 5.97M | 1.21M | 5.6M | 457K | 4.73M | 6.57M | 775K | 8.66M | 1.95M | 6.65M | 1.66M | 7.72M | 0 |
| Taxes Paid | 0 | 0 | 0 | 3.42M | 1.5M | 308K | -8K | 578K | 71K | 62K | 0 | 128K | 0 | 137K | 65K | 2.33M | 15.45M | 6.57M | 3.02M | 0 |