Filing Flows › Novavax (NVAX) › Q3 2026 › vs Q2 2026
Novavax (NVAX) Q3 2026 vs Q2 2026 (quarter over quarter)
Novavax's revenue rose $11.6M (+20%) from $56.7M in Q2 2026 to $68.3M in Q3 2026. The biggest changes: Product sales +$6.8M (+36%); Licensing, royalties, and other +$4.8M (+13%).
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 draws each line against Q2 2026, the increases inside each band.
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Licensing, royalties, and other | $42.6M | $37.8M | $4.8M | +13% |
| Product sales | $25.7M | $18.9M | $6.8M | +36% |
| Revenue | $68.3M | $56.7M | $11.6M | +20% |
| Other income, net | $1.6M | $3.2M | −$1.6M | -50% |
| Net loss | $31.4M | $53.4M | −$22.0M | -41% |
| Costs & expenses | $101M | $113M | −$12.0M | -11% |
| Operating costs | $99.6M | $112M | −$12.0M | -11% |
| Income tax | $1.7M | $1.7M | $11K | +0.6% |
| Cost of revenue | $23.5M | $14.2M | $9.2M | +65% |
| Research & development | $52.4M | $70.7M | −$18.2M | -26% |
| SG&A | $23.6M | $26.7M | −$3.0M | -11% |
| Operating cash sources | $105M | $84.0M | $21.3M | +25% |
| Depreciation & amortization | $3.0M | $3.1M | −$9K | -0.3% |
| Share-based compensation | $8.0M | $8.1M | −$134K | -2% |
| Cash used in operations | $94.2M | $72.8M | $21.4M | +29% |
| Net loss absorbed | $31.4M | $53.4M | −$22.0M | -41% |
| Working capital & other | $73.9M | $30.6M | $43.3M | +142% |
Questions
How much did Novavax's revenue grow quarter over quarter in Q3 2026?
Novavax's revenue rose $11.6M (+20%) from $56.7M in Q2 2026 to $68.3M in Q3 2026.
What drove Novavax's revenue change in Q3 2026?
Product sales +$6.8M (+36%); Licensing, royalties, and other +$4.8M (+13%).