Novavax profit margin NVAX

Gross, operating and net profit as a share of revenue over the last twelve months, from 2012.

Net margin, 12 months: −59.9%
Operating margin, 12 months: −56.6%
Net margin on a year earlier: −99.1 pts
Peer median: 22.2%

Over the twelve months to Jun 30, 2026, Novavax kept −59.9% of its revenue as net profit, with an operating margin of −56.6% and a gross margin of 78.6%.

Five years earlier its net margin was −80.4%.

The median for 10 biotech stocks of a similar size is 22.2%.

Profit margin over time

GrossOperatingNet

Open the interactive chart, with overlays and comparisons

Fiscal year by fiscal year

Fiscal year	Net margin	Operating margin	Gross margin
FY2025	39.2%	40.3%	93.5%
FY2024	−27.5%	−36.5%	70.3%
FY2023	−55.4%	−57.6%	65.1%
FY2022	−33.2%	−32.5%	54.5%
FY2021	n/a	n/a	100.0%
FY2020	−87.9%	−87.6%	n/a
FY2019	n/a	n/a	n/a
FY2018	n/a	n/a	n/a
FY2017	n/a	n/a	n/a
FY2016	n/a	n/a	n/a
FY2015	n/a	n/a	n/a
FY2014	n/a	n/a	n/a
FY2013	n/a	n/a	n/a
FY2012	n/a	n/a	n/a
FY2011	n/a	n/a	n/a

Quarter by quarter

Quarter	Ended	Net margin, 12 months	Change on a year	Operating margin
Q2 FY26	Jun 30, 2026	−59.9%	−99.1 pts	−56.6%
Q1 FY26	Mar 31, 2026	−14.7%	−52.9 pts	−13.1%
Q4 FY25	Dec 31, 2025	39.2%	+66.7 pts	40.3%
Q3 FY25	Sep 30, 2025	32.1%	+64.3 pts	28.9%
Q2 FY25	Jun 30, 2025	39.2%	+69.0 pts	32.6%
Q1 FY25	Mar 31, 2025	38.1%	+78.2 pts	32.8%
Q4 FY24	Dec 31, 2024	−27.5%	+27.9 pts	−36.5%
Q3 FY24	Sep 30, 2024	−32.2%	+20.1 pts	−34.1%
Q2 FY24	Jun 30, 2024	−29.8%	+6.9 pts	−29.7%
Q1 FY24	Mar 31, 2024	−40.0%	+45.0 pts	−40.0%
Q4 FY23	Dec 31, 2023	−55.4%	−22.2 pts	−57.6%
Q3 FY23	Sep 30, 2023	−52.3%	+19.3 pts	−59.7%

Against its peers

Companies in Biotechnology nearest Novavax's size, closest first, today.

Company	Profit margin
NVAXNovavax	−59.9%
VCELVericel	7.9%
ADMAAdma Biologics	33.0%
MGTXMeiraGTx	19.9%
KRYSKrystal Biotech	54.8%
RGENRepligen	5.3%
TECHBIO-TECHNE	15.0%
PLXProtalix BioTherapeutics	23.5%
HALOHalozyme Therapeutics	24.9%
NBIXNeurocrine Biosciences	20.9%
EXELExelixis	35.3%
Peer median	22.2%

Where Novavax ranks

#26of 29Biotech stocks with the highest profit margins

What the profit margin tells you

Profit as a share of revenue at three levels: gross (after making the product), operating (after running the business) and net (after everything, including tax and interest).

Compare within an industry. 10% is superb for a retailer and poor for a software company.

More on Novavax

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.