Novavax, Inc. (NVAX) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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NVAX Revenue Growth
Revenue Breakdown (FY 2025)
NVAX's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
NVAX Revenue Analysis (2014–2025)
As of May 8, 2026, Novavax, Inc. (NVAX) generated trailing twelve-month (TTM) revenue of $596.3 million, reflecting significant decline in growth of -79.1% year-over-year. The most recent quarter (Q1 2026) recorded $139.5 million in revenue, down 5.2% sequentially.
Looking at the longer-term picture, NVAX's 5-year compound annual growth rate (CAGR) stands at +118.8%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $1.60 billion in 2022.
Revenue diversification analysis shows NVAX's business is primarily driven by Product (50%), Nuvaxovid Sales (46%), and Supply Sales (4%).
When compared to Healthcare sector peers including MRNA (-29.1% YoY), BNTX (+4.0% YoY), and PFE (+1.4% YoY), NVAX has underperformed the peer group in terms of revenue growth. Compare NVAX vs MRNA →
NVAX Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NVAXCurrent | $596M | -79.1% | +118.8% | 50.1% | |
 MRNA | $1.9B | -29.1% | +19.3% | -158.1% | |
 BNTX | $2.8B | +4.0% | +41.7% | -22.6% | |
 PFE | $62.6B | +1.4% | +8.5% | 24.7% | |
 SNY | $46.7B | +14.1% | +4.6% | 13.6% | |
 GSK | $32.7B | +5.4% | +6.0% | 25.5% |
NVAX Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.12B | +64.7% | $1.05B | 93.7% | $563.3M | 50.1% |
| 2024 | $682.2M | +22.6% | $479.4M | 70.3% | $-248,931,000 | -36.5% |
| 2023 | $556.4M | -65.2% | $212.6M | 38.2% | $-566,511,000 | -101.8% |
| 2022 | $1.60B | +709.3% | $696.3M | 43.5% | $-644,736,000 | -40.3% |
| 2021 | $197.6M | +782.5% | $197.6M | 100.0% | $-1,686,576,000 | -853.6% |
| 2020 | $22.4M | +20.0% | $22.4M | 100.0% | $-416,719,000 | -1861.3% |
| 2019 | $18.7M | -45.6% | $-95,180,000 | -510.0% | $-120,581,000 | -646.1% |
| 2018 | $34.3M | +10.0% | $34.3M | 100.0% | $-173,918,000 | -507.2% |
| 2017 | $31.2M | +103.1% | $31.2M | 100.0% | $-171,710,000 | -550.8% |
| 2016 | $15.4M | -57.6% | $-222,586,000 | -1449.8% | $-269,113,000 | -1752.8% |
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Start ComparisonNVAX — Frequently Asked Questions
Quick answers to the most common questions about buying NVAX stock.
Is NVAX's revenue growth accelerating or slowing?
NVAX revenue declined -79.1% year-over-year, contrasting with the 5-year CAGR of +118.8%. TTM revenue fell to $596M. This reverses the prior growth trend.
What is NVAX's long-term revenue growth rate?
Novavax, Inc.'s 5-year revenue CAGR of +118.8% reflects the variable expansion pattern. Current YoY growth of -79.1% is below this long-term average.
How is NVAX's revenue distributed by segment?
NVAX reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.