Vaxart, Inc.

Vaxart, Inc. reported a profitable fiscal year 2025, with net income of $16.3 million, a significant improvement from a net loss of $66.9 million in 2024. This turnaround was driven by substantial revenue of $237.3 million, primarily from government contracts ($224.5 million) and a new license and collaboration agreement ($10.8 million). Operating income was $18.1 million, compared to an operating loss of $66.3 million in the prior year. The company's cash position strengthened, with cash and cash equivalents increasing to $53.8 million from $25.2 million, supported by positive operating cash flow of $7.7 million. Key forward-looking items include the ongoing Phase 2b COVID-19 study funded by a BARDA contract and the advancement of second-generation norovirus vaccine candidates.

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