Novavax (NASDAQ:NVAX) reported fourth-quarter financial results that caught Wall Street by surprise, swinging to a profit during a period analysts expected to remain firmly in the red.
The Gaithersburg, Maryland-based biotechnology company posted a fourth-quarter net income of $17.5 million, or 11 cents per share.
The performance dramatically outperformed market forecasts.
Analysts surveyed by Zacks Investment Research had predicted a net loss of 66 cents per share.
Revenue for the quarter reached $147.1 million, nearly doubling the $78.4 million consensus estimate.
For the full fiscal year 2025, Novavax reported a total profit of $440.3 million, or $2.58 per share, on total revenue of $1.12 billion.
These annual figures reflect the transformative impact of the company's multi-billion dollar licensing agreement with Sanofi, which provided a massive influx of non-dilutive capital and shifted the commercial responsibility for its COVID-19 vaccine in several key markets.