Filing Flows › Vaxart (VXRT) › Q3 2026
Vaxart (VXRT) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
Vaxart (VXRT) reported revenue of $10.6M for the third quarter 2026 (Q3 2026), -85% from a year earlier and -61% from the quarter before. Operating margin was -162.7%, net loss $17.7M (166.6% of revenue).
Vaxart, Q3 2026: revenue $10.6M (-85% year over year), operating margin -162.7%, net loss $17.7M, operating cash flow $1.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $10.6M | -61% | -85% |
| Operating profit | −$17.3M | — | — |
| Net earnings | −$17.7M | — | — |
| Operating cash flow | $1.4M | -48% | -45% |
| Free cash flow | $1.1M | -61% | -57% |
What changed
Revenue was $10.6M in Q3 2026, down 85% year over year and down 61% from the previous quarter. Government Contract was the largest line at 71% of revenue. Government Contract lost $64.9M year over year (down 90%), 105% of the total change.
Operating costs exceeded revenue by $17.3M, an operating margin of -162.7%. Total costs fell 65% while revenue fell 85%. The fastest-growing cost line was General & admin (+19%). The quarter ended with a net loss of $17.7M, wider than the previous quarter's $13.5M loss.
Operating cash flow was $1.4M (down 45% year over year). Non-cash charges added back $1.3M of depreciation and amortization and $1.2M of share-based compensation. Working capital and other items added $16.7M. Capital expenditures of $371K left free cash flow of $1.1M.
Questions
What was Vaxart's revenue in the third quarter 2026?
Vaxart (VXRT) reported revenue of $10.6M for the third quarter 2026 (Q3 2026), -85% from a year earlier and -61% from the quarter before.
Was Vaxart profitable in the third quarter 2026?
Operating loss was $17.3M (-162.7% of revenue) and net loss $17.7M.
Source: Vaxart 10-Q on SEC EDGAR.