Novavax, Inc. (NVAX) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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Revenue Growth Metrics
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 March 1, 2026, Novavax, Inc. (NVAX) generated trailing twelve-month (TTM) revenue of $1.12 billion, reflecting explosive growth of +66.6% year-over-year. The most recent quarter (Q4 2025) recorded $147.1 million in revenue, up 108.9% 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 BNTX (+3.7% YoY), MRNA (-56.1% YoY), and CDTX (-100.0% YoY), NVAX has underperformed the peer group in terms of revenue growth. Compare NVAX vs BNTX →
Peer Comparison
Compare NVAX's revenue metrics with industry peers
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NVAXCurrent | $1.1B | +66.6% | +118.8% | 40.3% | |
| BNTX | $2.8B | +3.7% | +90.9% | -47.8% | |
| MRNA | $3.2B | -56.1% | +121.3% | -123.3% | |
| CDTX | $1M | -100.0% | -42.9% | -13811.9% | |
| SCNI | $658,000 | +303.9% | - | -1312.8% | |
| VIR | $69M | -7.6% | +0.4% | -682.7% |
Historical Revenue Data
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.12B | +64.7% | $1.05B | 93.5% | $452.8M | 40.3% |
| 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 ComparisonFrequently Asked Questions
Is NVAX's revenue growth accelerating or slowing?
NVAX revenue is accelerating at +66.6% year-over-year, exceeding the 5-year CAGR of +118.8%. TTM revenue reached $1.1B. Growth momentum has increased versus prior periods.
What is NVAX's long-term revenue growth rate?
Novavax, Inc.'s 5-year revenue CAGR of +118.8% reflects the sustained expansion pattern. Current YoY growth of +66.6% is above 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.