$NVAX
NOVAVAX INC

2020 Q4 Form 10-Q Financial Statement

#000155837020013462 Filed on November 10, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $279.7M $157.0M $2.507M
YoY Change 3078.41% 6163.42% -67.59%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $61.30M $56.90M $7.900M
YoY Change 647.56% 620.25% -4.82%
% of Gross Profit
Research & Development $401.2M $294.1M $18.61M
YoY Change 1269.28% 1480.18% -54.97%
% of Gross Profit
Depreciation & Amortization $1.800M $1.200M $800.0K
YoY Change 80.0% 50.0% -61.9%
% of Gross Profit
Operating Expenses $462.5M $294.1M $18.61M
YoY Change 1133.33% 1480.18% -54.97%
Operating Profit -$193.9M -$14.99M
YoY Change 1194.07% -64.23%
Interest Expense -$3.700M $4.460M $3.403M
YoY Change 19.35% 31.06% 0.0%
% of Operating Profit
Other Income/Expense, Net $9.000M $952.0K $5.000K
YoY Change 18940.0% -126.32%
Pretax Income -$177.6M -$197.3M -$18.00M
YoY Change 458.49% 996.17% -59.64%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$177.6M -$197.3M -$18.04M
YoY Change 458.49% 993.55% -59.52%
Net Earnings / Revenue -63.5% -125.66% -719.7%
Basic Earnings Per Share -$3.21
Diluted Earnings Per Share -$2.699M -$3.21 -$740.7K
COMMON SHARES
Basic Shares Outstanding 63.66M 61.55M shares
Diluted Shares Outstanding 61.55M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $711.0M $504.0M $71.20M
YoY Change 802.28% 607.87% -43.98%
Cash & Equivalents $553.4M $334.2M $75.93M
Short-Term Investments $492.6M $297.6M $0.00
Other Short-Term Assets $9.662M $151.1M $17.90M
YoY Change 120.8% 744.13% -46.41%
Inventory
Prepaid Expenses
Receivables $262.0M $16.20M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.248B $671.2M $89.00M
YoY Change 1183.54% 654.18% -44.56%
LONG-TERM ASSETS
Property, Plant & Equipment $180.0M $131.8M $19.00M
YoY Change 1472.34% 593.86% -35.25%
Goodwill $135.4M $126.9M
YoY Change 164.65%
Intangibles $5.725M $5.332M
YoY Change 2.58%
Long-Term Investments
YoY Change
Other Assets $13.22M $8.294M $1.100M
YoY Change 85.65% 654.0% 35.14%
Total Long-Term Assets $334.3M $272.8M $75.80M
YoY Change 341.52% 259.9% -15.72%
TOTAL ASSETS
Total Short-Term Assets $1.248B $671.2M $89.00M
Total Long-Term Assets $334.3M $272.8M $75.80M
Total Assets $1.582B $944.0M $164.8M
YoY Change 814.96% 472.83% -34.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $54.33M $15.10M $4.200M
YoY Change 1767.08% 259.45% -38.14%
Accrued Expenses $137.4M $78.81M $14.80M
YoY Change 824.13% 432.51% -29.4%
Deferred Revenue $273.2M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $105.9M $55.90M
YoY Change
Total Short-Term Liabilities $579.7M $239.2M $21.60M
YoY Change 2147.23% 1007.49% -53.76%
LONG-TERM LIABILITIES
Long-Term Debt $362.1M $384.8M $320.3M
YoY Change 12.94% 20.14% 0.47%
Other Long-Term Liabilities $13.48M $11.26M $12.80M
YoY Change 7.26% -12.02% 40.47%
Total Long-Term Liabilities $13.48M $11.26M $333.1M
YoY Change 7.26% -96.62% 3555.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $579.7M $239.2M $21.60M
Total Long-Term Liabilities $13.48M $11.26M $333.1M
Total Liabilities $955.3M $637.8M $354.6M
YoY Change 166.11% 79.85% -5.98%
SHAREHOLDERS EQUITY
Retained Earnings -$1.874B -$1.697B
YoY Change 30.9%
Common Stock $714.0K $633.0K
YoY Change 120.37%
Preferred Stock
YoY Change
Treasury Stock (at cost) $41.81M $41.21M
YoY Change 1518.51%
Treasury Stock Shares 396.6K shares $391.4K
Shareholders Equity $627.2M $106.4M -$189.8M
YoY Change
Total Liabilities & Shareholders Equity $1.582B $944.0M $164.8M
YoY Change 814.96% 472.83% -34.21%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income -$177.6M -$197.3M -$18.04M
YoY Change 458.49% 993.55% -59.52%
Depreciation, Depletion And Amortization $1.800M $1.200M $800.0K
YoY Change 80.0% 50.0% -61.9%
Cash From Operating Activities -$128.5M -$6.500M -$32.30M
YoY Change 442.19% -79.88% -3.87%
INVESTING ACTIVITIES
Capital Expenditures -$42.00M -$8.700M -$300.0K
YoY Change 13900.0% 2800.0% -25.0%
Acquisitions
YoY Change
Other Investing Activities $10.80M -$91.90M $18.30M
YoY Change -602.19% 117.86%
Cash From Investing Activities -$31.10M -$100.8M $18.00M
YoY Change 15450.0% -660.0% 125.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 404.6M -22.30M 12.00M
YoY Change 1239.74% -285.83% 1100.0%
NET CHANGE
Cash From Operating Activities -128.5M -6.500M -32.30M
Cash From Investing Activities -31.10M -100.8M 18.00M
Cash From Financing Activities 404.6M -22.30M 12.00M
Net Change In Cash 245.0M -129.6M -2.300M
YoY Change 3788.89% 5534.78% -90.65%
FREE CASH FLOW
Cash From Operating Activities -$128.5M -$6.500M -$32.30M
Capital Expenditures -$42.00M -$8.700M -$300.0K
Free Cash Flow -$86.50M $2.200M -$32.00M
YoY Change 269.66% -106.88% -3.61%

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Note 1 – Organization</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">Novavax, Inc. (“Novavax,” and together with its wholly owned subsidiaries, Novavax AB and Novavax CZ (formerly, Praha Vaccines a.s.), the “Company”) is a late-stage biotechnology company that promotes improved global health through the discovery, development and commercialization of innovative vaccines to prevent serious infectious diseases and address urgent, global health needs. The Company’s vaccine candidates, including both its coronavirus vaccine candidate, NVX-CoV2373, and its lead influenza vaccine candidate, NanoFlu<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">TM</sup>, 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. The Company’s technology targets a variety of infectious diseases. The Company is also developing proprietary immune stimulating saponin-based adjuvants at Novavax AB, its wholly owned Swedish subsidiary. The Company’s lead adjuvant, Matrix-M™, has been shown to enhance immune responses and has been well-tolerated in multiple clinical trials.</p>
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