Novavax (NVAX) revenue breakdown
By product, Product sales is the largest at 61% of fiscal 2025 revenue; Licensing, royalties, and other grew fastest, 133% a year over 6 years.
By region, Rest of North America is the largest at 51% of fiscal 2025 revenue, growing 44% a year over 3 years.
Revenue by product
Fiscal years, as Novavax reports them in its 10-K filings; fiscal 2025 total $1.1B.
| Products | 2016 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|
| Product sales | — | — | — | — | $1.6B | $548M | $213M | $685M | 61% |
| Licensing, royalties, and other | — | $3M | $22M | $198M | $44M | $8M | $469M | $438M | 39% |
| Grants | — | — | — | — | — | $427M | — | — | — |
| Grants | $13M | $16M | $453M | $949M | $383M | — | — | — | — |
| Government Contract | $2M | — | — | — | — | — | — | — | — |
Revenue by region
Fiscal years, as Novavax reports them in its 10-K filings; fiscal 2025 total $1.1B.
| Regions | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|
| Rest of North America | $194M | $13M | $4M | $576M | 51% |
| United States | $383M | $444M | $523M | $406M | 36% |
| Rest of the world | $578M | $254M | $59M | $126M | 11% |
| Europe | $827M | $272M | $96M | $16M | 1% |
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Where does Novavax make its money?
In fiscal 2025, by product: Product sales $685M, Licensing, royalties, and other $438M.
From Novavax's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.