VXRT · Vaxart, Inc. · Financials
$0.32
+0.00 (+0.00%)
At close · Jul 8
Going-concern doubt
— flagged Aug 6, 2026
Substantial doubt about the company's ability to continue as a going concern.
“Based on management's current plan, the Company expects to have enough cash runway into the second quarter of 2027. If the Company is unable to raise additional capital in sufficient amounts or on acceptable terms, management's plans include further reducing or delaying operating expenses. These conditions raise substantial doubt about the Company's ability to continue as a going concern for a period of one year from the date of the issuance of these unaudited condensed consolidated financial statements.”View the 10-Q filed Aug 6, 2026
Market Cap
$126.27M
Shares
242.84M
Income-statement, balance-sheet and cash-flow figures from SEC filings, plus a debt profile anchored in the latest 10-K and updated by each 10-Q and debt exhibit.
Revenue
$237.26M
+726.7%
FY2025
Net Income
$16.33M
+124.4%
FY2025
Operating Margin
7.62%
+238.6pp
FY2025
Diluted EPS
$0.07
+121.2%
FY2025
Operating Cash Flow
$7.71M
+117.2%
FY2025
Chart any reported metric, KPI or segment over time — the full statement history lives here
Search above to add metrics — fundamentals, product and segment revenue, company KPIs, valuation.
| Line Item | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2011 | FY2010 | FY2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $243.06M | $237.26M | $28.7M | $7.38M | $107K | $892K | $4.05M | $9.86M | $4.16M | $5.84M | $9.3M | $24.6M | $68.7M | $33.6M | $14.84M | $35.01M | $10.49M | |
| $184.26M | $201.58M | $74.21M | $68.14M | $81.05M | $48.75M | $19.86M | $14.54M | $17.28M | $12.36M | $26.3M | $19.8M | $17.5M | $19.2M | $17.77M | $26.08M | $16.49M | |
| $19.19M | $17.61M | $20.78M | $22.58M | $29.39M | $21.89M | $15.2M | $6.19M | $6.68M | $3.5M | $8M | $9.4M | $10.2M | $18M | $5.37M | $6.17M | $9.99M | |
| $700K | $700K | $700K | $700K | $1.3M | $1.7M | $1.7M | $2.3M | $2.73M | $4000 | — | — | — | — | — | — | — | |
| $6M | $8.58M | $8.85M | $8.62M | $5.81M | $4.21M | $2.71M | $3.6M | $3.2M | $380K | $100K | $1.1M | $2.4M | $3M | $237K | $376K | $502K | |
| $971K | — | — | — | — | — | $122K | $4.92M | — | — | — | — | $2.1M | — | — | — | — | |
| $203.45M | $219.18M | $94.99M | $90.73M | $114.69M | $73.64M | $34.22M | $25.65M | $25.92M | — | — | — | — | — | $24.6M | $36.2M | $28.47M | |
| $39.61M | $18.07M | -$66.29M | -$83.35M | -$114.59M | -$72.75M | -$30.17M | -$15.79M | -$21.76M | -$10.02M | -$25.2M | -$19.5M | -$11.5M | -$22.1M | -$9.76M | -$1.2M | -$17.98M | |
| — | 7.62% | -230.99% | -1129.52% | -107090.65% | -8156.05% | -745.67% | -160.06% | -523.11% | -171.52% | -270.97% | -79.27% | -16.74% | -65.77% | -65.79% | -3.42% | -171.38% | |
| $45.62M | $26.65M | -$57.44M | -$74.72M | -$108.78M | -$68.54M | -$27.46M | -$12.19M | -$18.55M | -$9.64M | -$25.1M | -$18.4M | -$9.1M | -$19.1M | -$9.53M | -$822K | -$17.47M | |
| — | — | — | — | — | $0 | $0 | $315K | $821K | $3.04M | — | — | — | — | — | $210K | $1.07M | |
| — | — | — | — | — | — | — | — | $58K | $53K | — | — | — | — | $194K | $230K | $368K | |
| -$386K | -$44K | $31K | -$62K | — | — | — | -$2.37M | $3.86M | $433K | -$200K | $300K | $200K | — | $37K | $291K | -$48K | |
| — | — | — | — | — | — | — | — | -$3000 | — | — | — | — | — | — | — | — | |
| $39.01M | $16.8M | -$66.69M | -$82.2M | -$107.69M | -$70.36M | -$31.98M | -$18.16M | -$17.9M | -$9.58M | -$25.4M | -$19.2M | -$11.3M | -$8.6M | -$9.53M | -$887K | -$18.73M | |
| $419K | $476K | $260K | $261K | $67K | $107K | $238K | $490K | $109K | $300K | -$100K | -$100K | -$300K | $100K | -$2.02M | -$1.77M | — | |
| $38.59M | $16.33M | -$66.95M | -$82.47M | -$107.76M | -$70.47M | -$32.22M | -$18.65M | -$18.01M | -$9.58M | -$25.4M | -$19.1M | -$11M | -$8.7M | -$4.53M | $878K | -$18.73M | |
| — | 6.88% | -233.27% | -1117.56% | -100708.41% | -7900.22% | -796.34% | -189.06% | -432.96% | -164.1% | -273.12% | -77.64% | -16.01% | -25.89% | -30.54% | 2.51% | -178.54% | |
| -$17.14M | — | — | — | — | — | — | — | -$18.35M | -$12.46M | — | — | — | — | — | — | — | |
| $38.59M | $16.32M | -$66.94M | -$82.17M | -$107.98M | -$70.54M | -$32.22M | -$18.65M | — | -$29.4M | -$25.3M | -$27M | -$9.5M | -$12.9M | — | — | — | |
| USD/shares | $0.17 | $0.07 | -$0.33 | -$0.57 | -$0.84 | -$0.58 | — | — | — | -$0.76 | -$0.66 | -$0.54 | — | -$0.31 | — | — | — |
| USD/shares | — | $0.07 | -$0.33 | — | — | — | — | — | — | -$0.76 | -$0.66 | -$0.54 | — | -$0.31 | — | — | — |
| shares | — | 230.27M | 202.14M | 144.82M | 127.68M | 121.45M | 88.3M | 21.57M | 6.32M | 135.95K | 38.64M | 35.37M | 31.35M | 28.22M | 42.34M | 44.31M | 50.63M |
| shares | — | 230.35M | 202.14M | — | — | 121.45M | 88.3M | 21.57M | 6.32M | 135.95K | 38.64M | 35.37M | 31.35M | 28.22M | 42.34M | 44.44M | 50.63M |
Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing.
TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative.
Capital Returned to Shareholders
Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2009–FY2014: $51.51M in buybacks.
Debt Profile
Annual debt figures are established from 10-K filings and updated by subsequent 10-Q and 8-K disclosures. Instrument balances are not summed into a company total unless the filing itself reports that total.
Debt data is being processed. Please check back later.
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.
Valuation
EV/Revenue
—
Peer median 5.42×
EV/EBIT
—
Peer median 10.72×
P/E (TTM)
—
Peer median 8.36×
Peer medians compare against the 305 similar-size Biotechnology companies (of 537 listed).
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Product & Service (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Government Contract | $224,516,000 | $24,858,000 | $0 | — | — | $0 | -$20,000 |
| License | $8,705,000 | $0 | — | — | — | — | — |
| Collaboration Revenue | $2,108,000 | $0 | — | — | — | — | — |
| Non-Cash Royalty Revenue | $1,929,000 | $3,842,000 | $3,920,000 | $107,000 | $879,000 | $886,000 | $5,030,000 |
| Grant | — | — | $3,459,000 | $0 | — | — | — |
| Royalty | — | — | — | — | — | $2,962,000 | $4,446,000 |
| Customer Service Contracts | — | — | — | — | $13,000 | $198,000 | $406,000 |