Novavax (NVAX) Operating Expenses (2010 - 2026)

Novavax's Operating Expenses history runs 17 years deep, the most recent figure standing at $154.9 million for Q1 2026.

• On a quarterly basis, Operating Expenses rose 2.52% year-over-year to $154.9 million in Q1 2026; TTM through Mar 2026 was $674.5 million, a 20.04% decrease from a year earlier, with the FY2025 full-year figure at $670.7 million, down 27.97% from the prior year.
• Operating Expenses improved to $154.9 million in Q1 2026 per NVAX's latest filing, from $132.9 million in the prior quarter.
• Across five years, Operating Expenses topped out at $861.8 million in Q3 2022 and bottomed at $132.9 million in Q4 2025.
• The 5-year median for Operating Expenses is $254.5 million (2024), against an average of $349.0 million.
• Across the five-year window, Operating Expenses surged 77.32% in 2022 and sank 63.72% in 2023, its largest moves.
• Year by year, Operating Expenses stood at $601.3 million in 2022, then retreated by 21.02% to $474.9 million in 2023, then plunged by 53.8% to $219.4 million in 2024, then tumbled by 39.42% to $132.9 million in 2025, then increased by 16.58% to $154.9 million in 2026.
• Per Business Quant, the three latest NVAX Operating Expenses figures stand at $154.9 million (Q1 2026), $132.9 million (Q4 2025), and $248.5 million (Q3 2025).