Filing Flows › Vaxart (VXRT) › Q2 2026
Vaxart (VXRT) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 6, 2026
Vaxart (VXRT) reported revenue of $27.2M for the second quarter 2026 (Q2 2026), -32% from a year earlier and -31% from the quarter before. Operating margin was -48.5%, net loss $13.5M (49.6% of revenue).
Vaxart, Q2 2026: revenue $27.2M (-32% year over year), operating margin -48.5%, net loss $13.5M, operating cash flow $2.8M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $27.2M | -31% | -32% |
| Operating profit | −$13.2M | -355% | — |
| Net earnings | −$13.5M | -361% | — |
| Operating cash flow | $2.8M | — | — |
| Free cash flow | $2.7M | — | — |
What changed
Revenue was $27.2M in Q2 2026, down 32% year over year and down 31% from the previous quarter. Government Contract was the largest line at 89% of revenue. Government Contract lost $15.4M year over year (down 39%), 123% of the total change.
Operating costs exceeded revenue by $13.2M, an operating margin of -48.5%. Total costs fell 26% while revenue fell 32%. The fastest-growing cost line was General & admin (+44%). The quarter ended with a net loss of $13.5M, after a profit of $5.2M the previous quarter.
Operating cash flow was $2.8M. Non-cash charges added back $741K of depreciation and amortization and $1.3M of share-based compensation. Working capital and other items added $14.2M. Capital expenditures of $35K left free cash flow of $2.7M.
Questions
What was Vaxart's revenue in the second quarter 2026?
Vaxart (VXRT) reported revenue of $27.2M for the second quarter 2026 (Q2 2026), -32% from a year earlier and -31% from the quarter before.
Was Vaxart profitable in the second quarter 2026?
Operating loss was $13.2M (-48.5% of revenue) and net loss $13.5M.
Source: Vaxart 10-Q on SEC EDGAR.