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Black Diamond Therapeutics vs Novavax: BDTX and NVAX compared
Black Diamond Therapeutics is the larger company: $70.0M of revenue in its latest quarter (Q1 2025) against $68.3M for Novavax (Q3 2026). Black Diamond Therapeutics is more profitable, with an operating margin of 77.9% against -45.8%.
Where the money goes: BDTX and NVAX
Black Diamond Therapeutics (BDTX) · Q1 2025
Black Diamond Therapeutics, Q1 2025: revenue $70.0M, operating margin 77.9%, net earnings $56.5M, operating cash flow $53.4M. The chart follows the revenue to costs, profit and cash.
Novavax (NVAX) · Q3 2026
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.
| Black Diamond Therapeutics (BDTX) | Novavax (NVAX) | |
|---|---|---|
| Latest quarter | Q1 2025 | Q3 2026 |
| Revenue | $70.0M | $68.3M |
| Revenue growth, Y/Y | — | -3% |
| Operating margin | 77.9% | -45.8% |
| Net earnings | $56.5M | −$31.4M |
| Net margin | 80.8% | -45.9% |
| Operating cash flow | $53.4M | −$94.2M |
Where the revenue comes from
Novavax
- Licensing, royalties, and other: $42.6M (62%)
- Product sales: $25.7M (38%)
Questions
Which is bigger, Black Diamond Therapeutics or Novavax?
Black Diamond Therapeutics is the larger company: $70.0M of revenue in its latest quarter (Q1 2025) against $68.3M for Novavax (Q3 2026).
Is Black Diamond Therapeutics or Novavax growing faster?
Black Diamond Therapeutics is more profitable, with an operating margin of 77.9% against -45.8%.
More: Black Diamond Therapeutics earnings · how Black Diamond Therapeutics makes money · Novavax earnings · how Novavax makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed May 12, 2025; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.