Vaxart, Inc.
VXRT- Exchange
- OTC
- Industry
- Biological Products, (No Diagnostic Substances)
- SEC CIK
- 0000072444
No open-market purchases or sales by Vaxart, Inc. insiders were filed in the last 90 days; 4 institutions reported holding it in 13F filings for Q2 2026, worth $39.0K in total; no superinvestor holds it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Nov 8, 2026, 10:29 PM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Mar 12, 2026 | – | Mar 14, 2024 | – | Feb 24, 2022 |
| Revenue | $237.3M | $28.7M | $7.38M | $107.0K | $892.0K |
| Operating expenses | $219.2M | $95.0M | $90.7M | $114.7M | $73.6M |
| Research and development | $201.6M | $74.2M | $68.1M | $81.1M | $48.7M |
| Selling, general and administrative | $17.6M | $20.8M | $22.6M | $29.4M | $21.9M |
| Operating income | $18.1M | -$66.3M | -$83.3M | -$114.6M | -$72.8M |
| Interest expense | – | – | – | – | $0 |
| Income tax | $476.0K | $260.0K | $261.0K | $67.0K | $107.0K |
| Net income | $16.3M | -$66.9M | -$82.5M | -$107.8M | -$70.5M |
| EPS, basic | $0.07 | $-0.33 | $-0.57 | $-0.84 | – |
| EPS, diluted | $0.07 | – | – | – | – |
| Weighted shares, basic | 230.3M | 202.1M | 144.8M | 127.7M | – |
| Weighted shares, diluted | 230.3M | – | – | – | – |
| Margins and growth | |||||
| Operating margin | 7.6% | -231.0% | -1129.5% | -107090.7% | -8156.1% |
| Net margin | 6.9% | -233.3% | -1117.6% | -100708.4% | -7900.2% |
| Revenue growth, year over year | +726.7% | +288.9% | +6,796.3% | −88.0% | −78.0% |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Mar 12, 2026 | – | Mar 14, 2024 | – | Feb 24, 2022 |
| Cash and equivalents | – | – | $34.8M | $44.0M | – |
| Short-term investments | $9.99M | $26.5M | $4.96M | $49.7M | $22.7M |
| Accounts receivable | $14.6M | $5.76M | $3.01M | $20.0K | $71.0K |
| Total current assets | $136.1M | $68.3M | $45.5M | $99.5M | $169.2M |
| Property, plant and equipment | $5.43M | $8.71M | $11.7M | $15.6M | $6.60M |
| Goodwill | $4.51M | $4.51M | $4.51M | $4.51M | $4.51M |
| Intangible assets | $2.83M | $3.56M | $4.29M | $5.02M | $10.6M |
| Total assets | $186.1M | $166.4M | $91.8M | $153.8M | $221.2M |
| Accounts payable | $21.5M | $6.96M | $1.58M | $5.51M | $3.87M |
| Total current liabilities | $86.8M | $90.9M | $13.7M | $17.9M | $10.8M |
| Total liabilities | $98.3M | $107.5M | $34.0M | $43.3M | $33.6M |
| Shareholders' equity | $87.8M | $58.9M | $57.8M | $110.6M | $187.5M |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Mar 12, 2026 | – | Mar 14, 2024 | – | Feb 24, 2022 |
| Operating cash flow | $7.71M | -$44.8M | -$70.5M | -$94.8M | -$59.8M |
| Capital expenditures | $145.0K | $554.0K | $1.87M | $9.60M | $5.16M |
| Free cash flow | $7.57M | -$45.3M | -$72.3M | -$104.4M | -$65.0M |
| Depreciation and amortization | $8.58M | $8.85M | $8.62M | $5.80M | $4.21M |
| Stock-based compensation | $8.31M | $11.5M | $14.1M | $13.6M | $8.87M |
| Investing cash flow | $16.6M | -$21.3M | $44.0M | -$20.4M | -$49.1M |
| Financing cash flow | $4.24M | $56.6M | $15.2M | $17.5M | $125.8M |
| Net change in cash | $28.6M | -$9.53M | -$11.3M | -$97.7M | $16.9M |
| Ratio | |||||
| Stock-based compensation, % of revenue | 3.5% | 40.1% | 191.5% | 12698.1% | 994.1% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Oct 30, 2026 | 243.7M | +1.5% | SEC |
| Jul 31, 2026 | 242.8M | +6.1% | SEC |
| May 1, 2026 | 242.0M | +6.0% | SEC |
| Mar 6, 2026 | 240.6M | +5.6% | SEC |
| Nov 6, 2025 | 240.1M | +5.5% | SEC |
| Aug 6, 2025 | 228.9M | +0.7% | SEC |
| May 6, 2025 | 228.2M | +29.1% | SEC |
| Mar 13, 2025 | 227.9M | +31.1% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.