Government Contract was Vaxart’s largest product and service line in fiscal 2025, bringing in $224.52M of $237.26M (95%).
| Product and Service | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Government Contract | — | — | $24.90M | $224.52M | |||||
| License | — | — | — | $8.71M | |||||
| Grant | — | $3.46M | — | — | |||||
| Royalty | — | — | — | — | |||||
| Non Cash Royalty Revenue | $107.00K | $3.92M | $3.84M | $1.93M | |||||
| Collaboration Revenue | — | — | — | $2.11M | |||||
| Customer Service Contracts | — | — | — | — | |||||
| Total | $107.00K | $7.38M | $28.74M | $237.26M |
Vaxart brought in $237.26M from its four product and service lines in fiscal 2025, the year ended December 31, 2025. Vaxart regrouped these lines after fiscal 2024, so the total does not compare directly with that year's $28.74M. Government Contract was the largest at $224.52M (94.6%), ahead of License at $8.71M (3.7%) and Collaboration Revenue at $2.11M (0.9%). The remaining line, Non Cash Royalty Revenue, brought in $1.93M.
Vaxart began breaking out License in fiscal 2025 and Collaboration Revenue in fiscal 2025. Vaxart stopped reporting Grant as a separate line after fiscal 2023, when it brought in $3.46M.
Vaxart (VXRT) reports its revenue by product and service. In fiscal 2025, Government Contract was its largest product and service line, bringing in $224.52M (94.6% of the total), followed by License at $8.71M (3.7%).
Government Contract was Vaxart's largest product and service line in fiscal 2025, bringing in $224.52M, or 94.6% of the $237.26M total across its four product and service lines.
Every figure comes from Vaxart's annual financial filings, as reported. Each line keeps the name Vaxart gives it, and years follow its fiscal calendar.
Vaxart's revenue by product and service goes back to fiscal 2017, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.