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Novavax (NVAX) guidance and outlook
Novavax (NVAX) raised some and lowered other parts of its guidance on Nov 5, 2026: Revenue $5.0M for FY2026; Revenue $125M for FY2026; Revenue $5.0M for FY2027. Novavax's 10-Q filed Nov 5, 2026 makes 20 forward-looking statements.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| Revenue | FY2026 | $5.0M | lowered |
| Revenue | FY2026 | $125M | raised |
| Revenue | FY2027 | $5.0M | new |
From the earnings release filed Nov 5, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Nov 5, 2026
- Instead, they are based only on our current beliefs and expectations about the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions.
- We believe our recombinant nanoparticle vaccine technology and our proprietary Matrix-M ® adjuvant are well suited for the development and commercialization of vaccine candidates targeting areas both within and beyond the infectious disease space, including in hard-to-treat infectious diseases and oncology.
- In August 2026, our partners received approvals for the Nuvaxovid™ formulation targeting the SARS-CoV-2 XFG variant for the 2026–2027 vaccination season in major markets, including the United States, the European Union and Japan.
- Additionally, we intend to continue developing our early-stage pipeline programs using a disciplined and capital-efficient approach.
- Our R&D investment strategy seeks to place targeted investments on the programs with the highest potential value, both within infectious disease and beyond, with the intent of partnering these programs earlier in the development process, while maintaining the flexibility to advance internal assets when strategically advantageous.
- We updated our total expected costs and the amounts of variable consideration for research and development transition services that support further regulatory approval and development of the COVID-19 Vaccine (“Sanofi Transition Services”) to reflect the release of the PMC.
- We do not intend to make additional investments in these programs and are seeking a partner to advance both vaccine candidates.
- • Manufacturing technology transfer to Sanofi for Nuvaxovid™ is expected to be completed in mid-2027, which would trigger a $75 million milestone payment to us.
- • Our differentiated C. difficile (C. diff) vaccine program is on track to advance into the clinic as early as 2027.
- During the three months ended September 30, 2026, we recognized a decrease of $0.9 million in the estimate of cumulative revenue recognized for the Sanofi Transition Services performance obligation to reflect changes in total expected costs and estimated variable consideration from expected cost reimbursements, primarily as a result of the release of the PMC.
- During the nine months ended September 30, 2026, we recognized an increase in the estimate of cumulative revenue recognized for the Sanofi Transition Services performance obligation of $14.5 million as a result of changes in total expected costs and changes to estimates of variable consideration from expected cost reimbursements.
- We plan to continue developing other vaccines and product candidates, such as our potential combination vaccine candidates, which are in various stages of development.
Novavax's latest quarter
Novavax, Q3 2026: revenue $68.3M (-3% year over year), operating margin -45.8%, net loss $31.4M, operating cash flow −$94.2M. The chart follows the revenue to costs, profit and cash.
Questions
Did Novavax raise or lower its guidance?
Novavax (NVAX) raised some and lowered other parts of its guidance on Nov 5, 2026: Revenue $5.0M for FY2026; Revenue $125M for FY2026; Revenue $5.0M for FY2027.
What does Novavax expect?
Instead, they are based only on our current beliefs and expectations about the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. We believe our recombinant nanoparticle vaccine technology and our proprietary Matrix-M ® adjuvant are well suited for the development and commercialization of vaccine candidates targeting areas both within and beyond the infectious disease space, including in hard-to-treat infectious diseases and oncology. In August 2026, our partners received approvals for the Nuvaxovid™ formul
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.