FY2025 · ended Dec 31, 2025 · Revenue $237.26M, +726.7% YoY · Filed Mar 13, 2026
Vaxart, Inc. (VXRT) files with the SEC under industry code 2836, Biological Products, (No Diagnostic Substances). In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $237.3 million and net income of $16.3 million. Free cash flow was $7.6 million. As of Sep 30, 2026 it held $65.5 million in cash and investments and $7.2 million in total debt.
Revenue (TTM)
$181.27M
+22.3% vs year-ago TTM
Net income (TTM)
$29.04M
+157.3% vs year-ago TTM
Operating cash flow (TTM)
$32.82M
+208.3% vs year-ago TTM
Free cash flow (TTM)
$31.96M
+204.9% vs year-ago TTM
EPS
$0.07
+109.2% vs prior year
Dividend per share
None
Shares outstanding
240.63M
+5.6% vs prior year
Net cash
$58.32M
as of Sep 30, 2026
Operating margin
16.6%
FY 2026
Company profile
- Industry
- Biological Products, (No Diagnostic Substances) (SIC 2836)
- Listed as
- VXRT (OTC)
- Fiscal year ends
- December 31
- Incorporated in
- DE
- Headquarters
- South San Francisco, CA
- SEC filer status
- Accelerated filer, Smaller reporting company
- SEC CIK
- 72444
- Former names
- Aviragen Therapeutics, Inc. (until Feb 15, 2018); Biota Pharmaceuticals, Inc. (until Apr 13, 2016); NABI BIOPHARMACEUTICALS (until Nov 8, 2012); NABI BIOPHARMACEUTICALS (until Jun 29, 2010); NABI /DE/ (until Feb 14, 2002)
Other Biological Products, (No Diagnostic Substances) companies
- Amgen Inc AMGN
- Gilead Sciences, Inc. GILD
- Moderna, Inc. MRNA
- Argenx SE ARGX
- Revolution Medicines, Inc. RVMD
- Biogen Inc. BIIB
- BioNTech SE BNTX
- Exelixis, Inc. EXEL
All 182 Biological Products, (No Diagnostic Substances) companies
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $237.3M | $28.7M | $7.4M | $107,000 | $892,000 |
| Operating income | $18.1M | -$66.3M | -$83.3M | -$114.6M | -$72.8M |
| Net income | $16.3M | -$66.9M | -$82.5M | -$107.8M | -$70.5M |
| Diluted EPS | $0.07 | — | — | — | — |
| Operating cash flow | $7.7M | -$44.8M | -$70.5M | -$94.8M | -$59.8M |
| Free cash flow | $7.6M | -$45.3M | -$72.3M | -$104.4M | -$65.0M |
| Total assets | $186.1M | $166.4M | $91.8M | $153.8M | $221.2M |
| Total liabilities | $98.3M | $107.5M | $34.0M | $43.2M | $33.6M |
| Stockholders' equity | $87.8M | $58.9M | $57.8M | $110.6M | $187.5M |
| Cash and investments | $63.8M | $51.7M | $39.7M | $95.7M | $182.7M |
| Total debt | $9.0M | $17.5M | $20.1M | $21.7M | $13.0M |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 10-Q | Quarterly report | Nov 5, 2026 | Sep 30, 2026 |
| 8-K |
Current report
Results of operations
|
Nov 5, 2026 | Nov 5, 2026 |
| 8-K |
Current report
Officer or director change, Regulation FD disclosure
|
Oct 19, 2026 | Oct 16, 2026 |
| 8-K |
Current report
Other events
|
Sep 14, 2026 | Sep 3, 2026 |
| 8-K |
Current report
Other events
|
Aug 25, 2026 | Aug 21, 2026 |
| 10-Q | Quarterly report | Aug 6, 2026 | Jun 30, 2026 |
All 1002 Vaxart, Inc. SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.