Filing Flows › Novavax (NVAX) › Operating margin
Novavax (NVAX) operating margin by quarter
Novavax's operating margin was 9.7% in Q4 2025 (fourth quarter 2025), -32.6 pts from Q2 2025. Over the last 3 quarters it ranged from 9.7% (Q4 2025) to 77.3% (Q1 2025).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q4 2025 | 9.7% | -32.6 pts | — |
| Q2 2025 | 42.2% | -35.1 pts | — |
| Q1 2025 | 77.3% | — | — |
Q4 2025 at a glance
Novavax, Q4 2025: revenue $147M (+67% year over year), operating margin 9.7%, net earnings $17.5M, operating cash flow −$39.5M. The chart follows the revenue to costs, profit and cash.
Questions
What is Novavax's operating margin?
Novavax's operating margin was 9.7% in Q4 2025 (fourth quarter 2025), -32.6 pts from Q2 2025.
How has Novavax's operating margin changed?
Over the last 3 quarters it ranged from 9.7% (Q4 2025) to 77.3% (Q1 2025).