Novavax Earnings: Everything You Must Know Now

Novavax, Inc. (NASDAQ:NVAX) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.

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Novavax, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased to $-0.07 in the quarter versus EPS of $-0.06 in the year-earlier quarter.

Revenue: Decreased 17.46% to $3.83 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Novavax, Inc. reported adjusted EPS loss of $0.07 per share. By that measure, the company missed the mean analyst estimate of $-0.06. It missed the average revenue estimate of $5.54 million.

Quoting Management: “Highlighting a very eventful quarter were the impressive results we reported last month from the Phase II clinical trial of our RSV vaccine candidate, which has the potential to become a new standard of preventive care if later-stage studies are successful,” said Stanley C. Erck, President and Chief Executive Officer of Novavax. “The vaccine induced clinically meaningful immunity against RSV infection with no apparent safety concerns, suggesting it may protect infants through maternal immunization — an important consideration in preventing severe respiratory disease due to RSV. In the meantime, we are continuing our work in collaboration with the U.S. Department of Health and Human Services’ Office of Biomedical Advanced Research and Development Authority (BARDA) to develop seasonal and pandemic influenza vaccines and prepare for later-stage clinical trials and are making important progress in both programs. We shall continue to manage our financial resources carefully as we execute these development programs and look forward to reporting on our clinical and corporate progress later this year.”

Key Stats (on next page)…

Revenue decreased 16.19% from $4.57 million in the previous quarter. EPS increased to $-0.07 in the quarter versus EPS of $-0.07 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a loss of $0.04 to a loss $0.05. For the current year, the average estimate has moved down from a loss of $0.19 to a loss of $0.22 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)