$NVAX
NOVAVAX INC Stock $nvax

$nvax Overview Financials Valuation SEC Filings Company Website

2022 Q1 Form 10-Q Financial Statement

#000100069422000009 Filed on May 10, 2022

Income Statement

Concept	2022 Q1	2021 Q1
Revenue	$704.0M	$447.2M
YoY Change	57.41%	13143.38%
Cost Of Revenue	$15.20M	$0.00
YoY Change
Gross Profit	$688.8M	$447.2M
YoY Change	54.01%
Gross Profit Margin	97.84%	100.0%
Selling, General & Admin	$95.99M	$63.20M
YoY Change	51.89%	572.34%
% of Gross Profit	13.94%	14.13%
Research & Development	$383.5M	$592.7M
YoY Change	-35.3%	3407.97%
% of Gross Profit	55.68%	132.52%
Depreciation & Amortization	$6.765M	$2.300M
YoY Change	194.13%	155.56%
% of Gross Profit	0.98%	0.51%
Operating Expenses	$383.5M	$592.7M
YoY Change	-35.3%	3407.97%
Operating Profit	$209.3M	-$208.6M
YoY Change	-200.32%	811.18%
Interest Expense	$4.876M	$4.839M
YoY Change	0.76%	42.2%
% of Operating Profit	2.33%
Other Income/Expense, Net	$1.654M	-$6.231M
YoY Change	-126.54%
Pretax Income	$206.1M	-$219.7M
YoY Change	-193.8%	748.27%
Income Tax	$2.662M	$3.017M
% Of Pretax Income	1.29%
Net Earnings	$203.4M	-$222.7M
YoY Change	-191.33%	761.12%
Net Earnings / Revenue	28.89%	-49.8%
Basic Earnings Per Share	$2.66	-$3.05
Diluted Earnings Per Share	$2.56	-$3.05
COMMON SHARES
Basic Shares Outstanding	76.46M shares	73.04M shares
Diluted Shares Outstanding	80.71M shares	73.04M shares

Balance Sheet

Concept	2022 Q1	2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$1.571B	$1.998B
YoY Change	-21.36%	741.49%
Cash & Equivalents	$1.571B	$1.995B
Short-Term Investments		$1.629B
Other Short-Term Assets	$191.6M	$146.8M
YoY Change	30.55%	720.11%
Inventory	$106.6M
Prepaid Expenses
Receivables	$478.2M	$102.2M
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$2.347B	$2.247B
YoY Change	4.48%	780.4%
LONG-TERM ASSETS
Property, Plant & Equipment	$247.2M	$192.0M
YoY Change	28.73%	1678.19%
Goodwill	$130.8M	$130.9M
YoY Change	-0.09%
Intangibles	$4.535M	$5.270M
YoY Change	-13.95%
Long-Term Investments
YoY Change
Other Assets	$18.61M	$31.93M
YoY Change	-41.7%	356.13%
Total Long-Term Assets	$487.5M	$361.6M
YoY Change	34.82%	396.0%
TOTAL ASSETS
Total Short-Term Assets	$2.347B	$2.247B
Total Long-Term Assets	$487.5M	$361.6M
Total Assets	$2.835B	$2.608B
YoY Change	8.68%	694.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$135.1M	$113.6M
YoY Change	18.95%	4444.2%
Accrued Expenses	$559.9M	$148.6M
YoY Change	276.74%	1138.43%
Deferred Revenue	$1.100B
YoY Change
Short-Term Debt	$323.8M	$0.00
YoY Change
Long-Term Debt Due	$116.7M	$121.1M
YoY Change	-3.65%
Total Short-Term Liabilities	$2.261B	$1.209B
YoY Change	87.08%	6260.82%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$339.1M
YoY Change	-100.0%	5.64%
Other Long-Term Liabilities	$66.80M	$21.60M
YoY Change	209.28%	78.5%
Total Long-Term Liabilities	$66.80M	$21.60M
YoY Change	209.28%	-93.52%
TOTAL LIABILITIES
Total Short-Term Liabilities	$2.261B	$1.209B
Total Long-Term Liabilities	$66.80M	$21.60M
Total Liabilities	$2.770B	$1.569B
YoY Change	76.49%	345.81%
SHAREHOLDERS EQUITY
Retained Earnings	-$3.415B	-$2.097B
YoY Change	62.84%
Common Stock	$787.0K	$745.0K
YoY Change	5.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$85.90M	$44.46M
YoY Change	93.22%
Treasury Stock Shares	599.4K shares	409.0K shares
Shareholders Equity	$65.32M	$1.039B
YoY Change
Total Liabilities & Shareholders Equity	$2.835B	$2.608B
YoY Change	8.68%	694.99%

Cashflow Statement

Concept	2022 Q1	2021 Q1
OPERATING ACTIVITIES
Net Income	$203.4M	-$222.7M
YoY Change	-191.33%	761.12%
Depreciation, Depletion And Amortization	$6.765M	$2.300M
YoY Change	194.13%	155.56%
Cash From Operating Activities	-$88.51M	$663.1M
YoY Change	-113.35%	-2969.26%
INVESTING ACTIVITIES
Capital Expenditures	-$16.83M	-$13.80M
YoY Change	21.93%	13700.0%
Acquisitions
YoY Change
Other Investing Activities	$0.00	$155.4M
YoY Change	-100.0%	-369.79%
Cash From Investing Activities	-$16.83M	$141.6M
YoY Change	-111.88%	-345.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net	$179.4M	$564.9M
YoY Change	-68.24%	203.82%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	$159.9M	$577.0M
YoY Change	-72.29%	210.34%
NET CHANGE
Cash From Operating Activities	-$88.51M	$663.1M
Cash From Investing Activities	-$16.83M	$141.6M
Cash From Financing Activities	$159.9M	$577.0M
Net Change In Cash	$55.84M	$1.380B
YoY Change	-95.95%	1214.45%
FREE CASH FLOW
Cash From Operating Activities	-$88.51M	$663.1M
Capital Expenditures	-$16.83M	-$13.80M
Free Cash Flow	-$71.68M	$676.9M
YoY Change	-110.59%	-3041.7%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2022Q1	dei	Amendment Flag AmendmentFlag	false
CY2022Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2022
CY2022Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2022Q1	dei	Entity Central Index Key EntityCentralIndexKey	0001000694
CY2022Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2022Q1	dei	Document Type DocumentType	10-Q
CY2022Q1	dei	Document Quarterly Report DocumentQuarterlyReport	true
CY2022Q1	dei	Document Period End Date DocumentPeriodEndDate	2022-03-31
CY2022Q1	dei	Document Transition Report DocumentTransitionReport	false
CY2022Q1	dei	Entity File Number EntityFileNumber	000-26770
CY2022Q1	dei	Entity Registrant Name EntityRegistrantName	NOVAVAX, INC.
CY2022Q1	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
CY2022Q1	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	22-2816046
CY2022Q1	dei	Entity Address Address Line1 EntityAddressAddressLine1	21 Firstfield Road
CY2022Q1	dei	Entity Address City Or Town EntityAddressCityOrTown	Gaithersburg
CY2022Q1	dei	Entity Address Country EntityAddressCountry	MD
CY2022Q1	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	20878
CY2022Q1	dei	City Area Code CityAreaCode	(240)
CY2022Q1	dei	Local Phone Number LocalPhoneNumber	268-2000
CY2022Q1	dei	Security12b Title Security12bTitle	Common Stock, Par Value $0.01 per share
CY2022Q1	dei	Trading Symbol TradingSymbol	NVAX
CY2022Q1	dei	Security Exchange Name SecurityExchangeName	NASDAQ
CY2022Q1	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2022Q1	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2022Q1	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
CY2022Q1	dei	Entity Small Business EntitySmallBusiness	false
CY2022Q1	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
CY2022Q1	dei	Entity Shell Company EntityShellCompany	false
CY2022Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	78134595	shares
CY2022Q1	us-gaap	Revenues Revenues	703971000	USD
CY2021Q1	us-gaap	Revenues Revenues	447229000	USD
CY2022Q1	us-gaap	Cost Of Revenue CostOfRevenue	15204000	USD
CY2021Q1	us-gaap	Cost Of Revenue CostOfRevenue	0	USD
CY2022Q1	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	383483000	USD
CY2021Q1	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	592671000	USD
CY2022Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	95992000	USD
CY2021Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	63190000	USD
CY2022Q1	us-gaap	Costs And Expenses CostsAndExpenses	494679000	USD
CY2021Q1	us-gaap	Costs And Expenses CostsAndExpenses	655861000	USD
CY2022Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	209292000	USD
CY2021Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-208632000	USD
CY2022Q1	us-gaap	Interest Expense InterestExpense	4876000	USD
CY2021Q1	us-gaap	Interest Expense InterestExpense	4839000	USD
CY2022Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	1654000	USD
CY2021Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-6231000	USD
CY2022Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	206070000	USD
CY2021Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-219702000	USD
CY2022Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	2662000	USD
CY2021Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	3017000	USD
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	203408000	USD
CY2021Q1	us-gaap	Net Income Loss NetIncomeLoss	-222719000	USD
CY2022Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	2.66
CY2021Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-3.05
CY2022Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	2.56
CY2021Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-3.05
CY2022Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	76457000	shares
CY2021Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	73035000	shares
CY2022Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	80711000	shares
CY2021Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	73035000	shares
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	203408000	USD
CY2021Q1	us-gaap	Net Income Loss NetIncomeLoss	-222719000	USD
CY2022Q1	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	0	USD
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CY2022Q1	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	203449000	USD
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CY2022Q1	us-gaap	Inventory Net InventoryNet	106648000	USD
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CY2022Q1	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	86352000	USD
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CY2021Q1	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	-6362000	USD
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CY2021Q1	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	549584000	USD
CY2022Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-88510000	USD
CY2021Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	663085000	USD
CY2022Q1	us-gaap	Payments To Acquire Productive Assets PaymentsToAcquireProductiveAssets	16826000	USD
CY2021Q1	us-gaap	Payments To Acquire Productive Assets PaymentsToAcquireProductiveAssets	13781000	USD
CY2022Q1	us-gaap	Payments To Acquire Marketable Securities PaymentsToAcquireMarketableSecurities	0	USD
CY2021Q1	us-gaap	Payments To Acquire Marketable Securities PaymentsToAcquireMarketableSecurities	2167000	USD
CY2022Q1	us-gaap	Proceeds From Sale And Maturity Of Available For Sale Securities ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities	0	USD
CY2021Q1	us-gaap	Proceeds From Sale And Maturity Of Available For Sale Securities ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities	157557000	USD
CY2022Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-16826000	USD
CY2021Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	141609000	USD
CY2022Q1	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	179385000	USD
CY2021Q1	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	564859000	USD
CY2022Q1	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	1318000	USD
CY2021Q1	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	24099000	USD
CY2022Q1	us-gaap	Finance Lease Principal Payments FinanceLeasePrincipalPayments	20838000	USD
CY2021Q1	us-gaap	Finance Lease Principal Payments FinanceLeasePrincipalPayments	11971000	USD
CY2022Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	159865000	USD
CY2021Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	576987000	USD
CY2022Q1	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	1312000	USD
CY2021Q1	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	-1349000	USD
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	55841000	USD
CY2021Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	1380332000	USD
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	1528259000	USD
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	648738000	USD
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	1584100000	USD
CY2021Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	2029070000	USD
CY2022Q1	nvax	Non Cash Related Transactions For Finance Lease Right Of Use Asset NonCashRelatedTransactionsForFinanceLeaseRightOfUseAsset	58352000	USD
CY2021Q1	nvax	Non Cash Related Transactions For Finance Lease Right Of Use Asset NonCashRelatedTransactionsForFinanceLeaseRightOfUseAsset	9770000	USD
CY2022Q1	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	15874000	USD
CY2021Q1	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	9076000	USD
CY2022Q1	us-gaap	Interest Paid Net InterestPaidNet	6654000	USD
CY2021Q1	us-gaap	Interest Paid Net InterestPaidNet	7530000	USD
CY2022Q1	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	15451000	USD
CY2021Q1	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	3017000	USD
CY2022Q1	us-gaap	Nature Of Operations NatureOfOperations	Organization and Business<div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Novavax, Inc. (“Novavax,” and together with its wholly owned subsidiaries, the “Company”) is a biotechnology company that promotes improved global health through the discovery, development, and commercialization of innovative vaccines to prevent serious infectious diseases. The Company’s coronavirus vaccine, NVX-CoV2373, and its lead influenza vaccine candidate, a quadrivalent influenza vaccine, previously known as NanoFlu, are genetically engineered, three-dimensional nanostructures of recombinant proteins critical to disease pathogenesis and may elicit differentiated immune responses, which may be more efficacious than naturally occurring immunity or traditional vaccines. NVX-CoV2373 and the Company’s influenza vaccine include the use of the Company's proprietary Matrix-M</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:115%;position:relative;top:-3.5pt;vertical-align:baseline">™</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> adjuvant.</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">As of March 31, 2022, the Company had received approval, interim authorization, provisional approval, conditional marketing authorization, and emergency use authorization (“EUA”) from multiple regulatory authorities globally for NVX-CoV2373, including by the World Health Organization (“WHO”), as well as the European Medicines Agency's (“EMA”) and the United Kingdom's Medicines and Healthcare products Regulatory Agency (“MHRA”), both of which are considered regulatory authorities that apply stringent standards and meet the WHO standards for quality, safety, and efficacy in their regulatory review process. </span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">During the three months ended March 31, 2022, the Company commenced commercial shipments of NVX-CoV2373 doses, under the brand name, Nuvaxovid™.</span></div>
CY2022Q1	us-gaap	Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax	-1300000	USD
CY2021Q4	us-gaap	Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax	-1400000	USD
CY2022Q1	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	1	segment
CY2022Q1	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<div style="margin-top:12pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div style="margin-top:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain amounts reported in prior periods have been reclassified to conform to current period financial statement presentation. These reclassifications have no material effect on previously reported financial position, cash flows, or results of operations.</span></div>
CY2022Q1	us-gaap	Use Of Estimates UseOfEstimates	<div style="margin-top:12pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from those estimates.</span></div>
CY2022Q1	us-gaap	Billed Contract Receivables BilledContractReceivables	425900000	USD
CY2021Q4	us-gaap	Billed Contract Receivables BilledContractReceivables	419700000	USD
CY2022Q1	us-gaap	Unbilled Contracts Receivable UnbilledContractsReceivable	52300000	USD
CY2021Q4	us-gaap	Unbilled Contracts Receivable UnbilledContractsReceivable	35300000	USD
CY2021Q4	us-gaap	Receivables Net Current ReceivablesNetCurrent	454993000	USD
CY2022Q1	nvax	Receivables Net Current Additions ReceivablesNetCurrentAdditions	625124000	USD
CY2022Q1	nvax	Receivables Current Net Deductions ReceivablesCurrentNetDeductions	601961000	USD
CY2022Q1	us-gaap	Receivables Net Current ReceivablesNetCurrent	478156000	USD
CY2021Q4	nvax	Deferred Revenue Current And Non Current DeferredRevenueCurrentAndNonCurrent	1595472000	USD
CY2022Q1	nvax	Deferred Revenue Current Additions DeferredRevenueCurrentAdditions	49094000	USD
CY2022Q1	nvax	Deferred Revenue Current Deductions DeferredRevenueCurrentDeductions	108586000	USD
CY2022Q1	nvax	Deferred Revenue Current And Non Current DeferredRevenueCurrentAndNonCurrent	1535980000	USD
CY2022Q1	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	1100000000	USD
CY2021Q4	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	1400000000	USD
CY2022Q1	us-gaap	Contract With Customer Liability Noncurrent ContractWithCustomerLiabilityNoncurrent	441700000	USD
CY2021Q4	us-gaap	Contract With Customer Liability Noncurrent ContractWithCustomerLiabilityNoncurrent	172500000	USD
CY2022Q1	us-gaap	Revenue Remaining Performance Obligation RevenueRemainingPerformanceObligation	7000000000	USD
CY2022Q1	us-gaap	Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1 RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1	P12M
CY2022Q1	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	203408000	USD
CY2021Q1	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-222719000	USD
CY2022Q1	us-gaap	Interest On Convertible Debt Net Of Tax InterestOnConvertibleDebtNetOfTax	3403000	USD
CY2021Q1	us-gaap	Interest On Convertible Debt Net Of Tax InterestOnConvertibleDebtNetOfTax	0	USD
CY2022Q1	us-gaap	Net Income Loss Attributable To Parent Diluted NetIncomeLossAttributableToParentDiluted	206811000	USD
CY2021Q1	us-gaap	Net Income Loss Attributable To Parent Diluted NetIncomeLossAttributableToParentDiluted	-222719000	USD
CY2022Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	76457000	shares
CY2021Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	73035000	shares
CY2022Q1	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	4254000	shares
CY2021Q1	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	0	shares
CY2022Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	80711000	shares
CY2021Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	73035000	shares
CY2022Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	2.66
CY2021Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-3.05
CY2022Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	2.56
CY2021Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-3.05
CY2022Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	1474000	shares
CY2021Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	8659000	shares
CY2022Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	1570954000	USD
CY2021Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	1515116000	USD
CY2022Q1	us-gaap	Restricted Cash And Cash Equivalents At Carrying Value RestrictedCashAndCashEquivalentsAtCarryingValue	11492000	USD
CY2021Q4	us-gaap	Restricted Cash And Cash Equivalents At Carrying Value RestrictedCashAndCashEquivalentsAtCarryingValue	11490000	USD
CY2022Q1	us-gaap	Restricted Cash And Cash Equivalents Noncurrent RestrictedCashAndCashEquivalentsNoncurrent	1654000	USD
CY2021Q4	us-gaap	Restricted Cash And Cash Equivalents Noncurrent RestrictedCashAndCashEquivalentsNoncurrent	1653000	USD
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	1584100000	USD
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	1528259000	USD
CY2022Q1	us-gaap	Inventory Raw Materials InventoryRawMaterials	34664000	USD
CY2021Q4	us-gaap	Inventory Raw Materials InventoryRawMaterials	8872000	USD
CY2022Q1	us-gaap	Inventory Work In Process InventoryWorkInProcess	66101000	USD
CY2021Q4	us-gaap	Inventory Work In Process InventoryWorkInProcess	0	USD
CY2022Q1	us-gaap	Inventory Finished Goods InventoryFinishedGoods	5883000	USD
CY2021Q4	us-gaap	Inventory Finished Goods InventoryFinishedGoods	0	USD
CY2022Q1	us-gaap	Inventory Net InventoryNet	106648000	USD
CY2021Q4	us-gaap	Inventory Net InventoryNet	8872000	USD
CY2021Q4	us-gaap	Goodwill Goodwill	131479000	USD
CY2022Q1	us-gaap	Goodwill Foreign Currency Translation Gain Loss GoodwillForeignCurrencyTranslationGainLoss	-723000	USD
CY2022Q1	us-gaap	Goodwill Goodwill	130756000	USD
CY2022Q1	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	11618000	USD
CY2022Q1	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	7083000	USD
CY2022Q1	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	4535000	USD
CY2021Q4	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	11961000	USD
CY2021Q1	us-gaap	Short Term Lease Cost ShortTermLeaseCost	127600000	USD
CY2021Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	7191000	USD
CY2021Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	4770000	USD
CY2022Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	100000	USD
CY2021Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	100000	USD
CY2022Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear	300000	USD
CY2022Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Next Twelve Months FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths	400000	USD
CY2022Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Two FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo	400000	USD
CY2022Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Three FiniteLivedIntangibleAssetsAmortizationExpenseYearThree	400000	USD
CY2022Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Four FiniteLivedIntangibleAssetsAmortizationExpenseYearFour	400000	USD
CY2022Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Five FiniteLivedIntangibleAssetsAmortizationExpenseYearFive	400000	USD
CY2022Q1	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	10400000	USD
CY2021Q4	nvax	Long Term Supply Agreement Incremental Borrowing Rate LongTermSupplyAgreementIncrementalBorrowingRate	0.024
CY2022Q1	us-gaap	Short Term Lease Cost ShortTermLeaseCost	78100000	USD
CY2022Q1	us-gaap	Operating Lease Expense OperatingLeaseExpense	10400000	USD
CY2021Q1	us-gaap	Operating Lease Expense OperatingLeaseExpense	1000000	USD
CY2022Q1	us-gaap	Finance Lease Interest Expense FinanceLeaseInterestExpense	1100000	USD
CY2021Q1	us-gaap	Finance Lease Interest Expense FinanceLeaseInterestExpense	2100000	USD
CY2016Q1	us-gaap	Debt Related Commitment Fees And Debt Issuance Costs DebtRelatedCommitmentFeesAndDebtIssuanceCosts	10000000	USD
CY2016Q1	us-gaap	Debt Instrument Face Amount DebtInstrumentFaceAmount	325000000	USD
CY2016Q1	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	10000000	USD
CY2016Q1	us-gaap	Debt Instrument Term DebtInstrumentTerm	P7Y
CY2022Q1	us-gaap	Debt Instrument Face Amount DebtInstrumentFaceAmount	325000000	USD
CY2021Q4	us-gaap	Debt Instrument Face Amount DebtInstrumentFaceAmount	325000000	USD
CY2022Q1	us-gaap	Unamortized Debt Issuance Expense UnamortizedDebtIssuanceExpense	1186000	USD
CY2021Q4	us-gaap	Unamortized Debt Issuance Expense UnamortizedDebtIssuanceExpense	1542000	USD
CY2022Q1	us-gaap	Convertible Notes Payable ConvertibleNotesPayable	323814000	USD
CY2021Q4	us-gaap	Convertible Notes Payable ConvertibleNotesPayable	323458000	USD
CY2022Q1	us-gaap	Long Term Debt Percentage Bearing Fixed Interest Rate LongTermDebtPercentageBearingFixedInterestRate	0.0375
CY2022Q1	us-gaap	Interest Expense Debt Excluding Amortization InterestExpenseDebtExcludingAmortization	3047000	USD
CY2022Q1	us-gaap	Interest Expense Debt Excluding Amortization InterestExpenseDebtExcludingAmortization	3047000	USD
CY2021Q1	us-gaap	Interest Expense Debt Excluding Amortization InterestExpenseDebtExcludingAmortization	3047000	USD
CY2021Q1	us-gaap	Interest Expense Debt Excluding Amortization InterestExpenseDebtExcludingAmortization	3047000	USD
CY2022Q1	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	356000	USD
CY2022Q1	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	356000	USD
CY2021Q1	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	356000	USD
CY2021Q1	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	356000	USD
CY2022Q1	us-gaap	Interest Expense Debt InterestExpenseDebt	3403000	USD
CY2021Q1	us-gaap	Interest Expense Debt InterestExpenseDebt	3403000	USD
CY2022Q1	nvax	Shelf Registration Statement Remaining Unissued Capital ShelfRegistrationStatementRemainingUnissuedCapital	318000000	USD
CY2022Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	32933000	USD
CY2021Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	53060000	USD
CY2022Q1	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized	239000000	USD
CY2022Q1	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1 EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1	P1Y
CY2022Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue	5600000	USD
CY2021Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue	81500000	USD
CY2022Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	65.78
CY2021Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	116.26
CY2022Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue	154000000	USD
CY2022Q1	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	P7Y8M12D
CY2022Q1	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1	47000000	USD
CY2022Q1	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1	P6Y7M6D
CY2022Q1	us-gaap	Current Federal State And Local Tax Expense Benefit CurrentFederalStateAndLocalTaxExpenseBenefit	600000	USD
CY2021Q1	us-gaap	Current Federal State And Local Tax Expense Benefit CurrentFederalStateAndLocalTaxExpenseBenefit	0	USD
CY2022Q1	us-gaap	Current Foreign Tax Expense Benefit CurrentForeignTaxExpenseBenefit	2100000	USD
CY2021Q1	us-gaap	Current Foreign Tax Expense Benefit CurrentForeignTaxExpenseBenefit	3000000	USD

Files In Submission

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$NVAX
NOVAVAX INC Stock $nvax

2022 Q1 Form 10-Q Financial Statement

#000100069422000009 Filed on May 10, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$NVAX NOVAVAX INC Stock $nvax

2022 Q1 Form 10-Q Financial Statement

#000100069422000009 Filed on May 10, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$NVAX
NOVAVAX INC Stock $nvax