Sunday 11 October 2026 Export all VXRT data to Excel Powerpack

VAXART, INC.

VAXART, INC.’s revenue for fiscal 2025 (year ended December 2025) was $237.3 million, up 726.7% from fiscal 2024. In the quarter to June 2026, revenue fell 31.6%, EPS grew 14.3% and free cash flow grew 117.4%, each against the same quarter a year earlier. Revenue growth for three consecutive years, operating cash flow growth for three; insiders bought in the last twelve months.

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Market cap: $92.4M
P/E: 2.8×
Fwd P/E: 2.1×
Dividend yield: —
F-score: 6/9
Altman Z: −1.06
Beneish M: 3.73
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

	Dec '25	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Jun '17
Piotroski F-Score Full definition →	6	4	3	2	3	4	4	—	—	—
P/E ratio Full definition →	5.83	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score Full definition →	(1.06)	(4.57)	(7.29)	(3.10)	11.97	9.29	(5.09)	(5.27)	(30.97)	(6.02)
P/S ratio Full definition →	0.34	4.65	11.97	315.02	853.72	124.61	0.77	2.86	2.68	0.12
Altman Z″-Score (non-manufacturers) Full definition →	(4.73)	(12.33)	(16.58)	(5.78)	5.11	4.95	(11.08)	(11.39)	(74.58)	(11.45)
P/FCF ratio Full definition →	10.64	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Beneish M-Score Full definition →	3.73	(1.09)	58.85	(4.48)	(4.03)	(4.85)	(2.02)	24.45	—	—
P/Operating CF Full definition →	2.63	(18.16)	(6.53)	(4.12)	(48.15)	(46.83)	(1.99)	(2.08)	(14.81)	(0.57)
P/B ratio Full definition →	0.92	2.26	1.53	1.09	4.06	4.09	0.58	1.06	0.00	0.05
Price to Tangible BV Full definition →	1.00	2.62	1.80	1.19	4.42	4.67	0.00	0.00	0.00	0.05
EV/Sales Full definition →	0.08	2.89	6.75	66.88	668.39	93.54	(0.49)	0.56	7.28	(4.65)
EV/EBITDA Full definition →	0.68	0.00	0.00	0.00	0.00	0.00	0.39	0.00	0.00	3.45
EV/Operating CF Full definition →	2.33	(1.85)	(0.71)	(0.27)	(9.96)	(15.94)	0.37	(0.16)	(6.15)	1.46
EV/FCF Full definition →	2.37	(1.83)	(0.69)	(0.24)	(9.17)	(15.16)	0.34	(0.15)	(6.12)	1.46
Quick Ratio Full definition →	1.33	0.70	3.11	5.34	15.45	10.81	1.87	1.78	0.80	6.64
Current Ratio Full definition →	1.57	0.75	3.32	5.55	15.69	10.93	1.92	1.96	0.83	6.76
Net Debt/EBITDA Full definition →	(2.42)	0.89	0.53	0.88	2.43	4.62	1.11	0.52	(3.77)	1.41
Debt/Assets Full definition →	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.52%	856.11%	0.25%
Debt/Equity Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.17	(1.00)	0.01
Asset Turnover Full definition →	1.35	0.22	0.06	0.00	0.00	0.04	0.27	0.21	0.26	0.16
Operating CF/Net income Full definition →	0.47	0.67	0.85	0.88	0.85	0.74	0.70	0.79	0.81	1.02
Capex/Depreciation Full definition →	(0.02)	(0.07)	(0.22)	(1.70)	(1.20)	(0.45)	(0.24)	(0.22)	(0.09)	0.00
Interest Coverage Full definition →	6.40	(22.33)	(57.60)	(87.81)	(49.16)	(16.10)	(6.61)	(8.12)	(3.30)	(15.28)
ROE Full definition →	22.26%	(114.71%)	(97.94%)	(72.29%)	(45.33%)	(47.26%)	(154.15%)	133.50%	124.46%	(90.60%)
ROA Full definition →	9.26%	(51.85%)	(67.13%)	(57.47%)	(37.71%)	(33.98%)	(51.61%)	(92.31%)	(55.85%)	(52.13%)
ROIC Full definition →	47.09%	(575.30%)	(287.93%)	(481.30%)	(216.07%)	0.00%	0.00%	(811.31%)	0.00%	0.00%
Return on Tangible Assets Full definition →	29.79%	481.19%	(189.39%)	(110.96%)	(42.71%)	(27.25%)	(215.95%)	(222.75%)	31,150.00%	(85.96%)
Average Days of Receivables Full definition →	78.99	152.22	148.79	68.22	29.05	30.13	133.94	157.62	39.38	24.61
Research and Development Expense of Revenue Full definition →	84.96%	258.58%	923.46%	75,751.40%	5,465.13%	490.93%	147.43%	415.36%	211.59%	317.98%
Selling, General and Administrative Expense of Revenue Full definition →	7.42%	72.40%	306.06%	27,463.55%	2,454.04%	375.73%	62.74%	160.64%	59.92%	89.89%
Intangible Assets out of Total Assets Full definition →	0.04	0.05	0.10	0.06	0.07	0.10	0.46	0.55	0.01	0.00
Share Based Compensation of Revenue Full definition →	3.50%	40.07%	191.52%	12,698.13%	994.06%	107.71%	6.36%	12.96%	8.17%	21.35%
Graham Net Nets Full definition →	0.47	(0.29)	0.13	0.47	0.18	0.20	(0.86)	(0.79)	(1.89)	18.50
Graham Number Full definition →	0.72	0.00	0.00	0.00	0.00	0.00	0.00	0.00	36.56	0.00
Earnings Yield Full definition →	17.14%	(51.52%)	(95.08%)	(89.36%)	(9.25%)	(6.13%)	(291.43%)	(122.87%)	(90.75%)	(113.45%)
Free Cash Flow Yield Full definition →	9.40%	(33.97%)	(81.73%)	(86.97%)	(8.53%)	(4.95%)	(184.65%)	(128.47%)	(44.31%)	(2,561.52%)
Revenue per Share Full definition →	1.03	0.14	0.05	0.00	0.01	0.05	0.46	0.66	42.93	2.53
Operating CF per Share Full definition →	0.03	(0.22)	(0.49)	(0.74)	(0.49)	(0.27)	(0.61)	(2.30)	(73.82)	(8.54)
Capex per Share Full definition →	0.00	0.00	(0.01)	(0.08)	(0.04)	(0.01)	(0.04)	(0.11)	(0.35)	0.00
Free Cash Flow per Share Full definition →	0.03	(0.22)	(0.50)	(0.82)	(0.54)	(0.28)	(0.65)	(2.42)	(74.17)	(8.54)
Cash per Share Full definition →	0.28	0.26	0.27	0.75	1.37	1.44	0.63	1.82	21.96	10.99
Shareholders Equity per Share Full definition →	0.38	0.29	0.40	0.87	1.54	1.40	0.60	1.78	(284.72)	5.32
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	0.38	0.29	0.40	0.87	1.54	1.40	0.60	1.78	(284.72)	5.32
Free Cash Flow Full definition →	7.57	(45.32)	(72.20)	(104.38)	(64.99)	(24.97)	(13.94)	(15.25)	(10.09)	(30.00)
Working Capital Full definition →	49.37	(22.62)	31.81	81.53	158.38	116.77	8.42	7.17	(0.77)	34.00
Capital Expenditures Full definition →	(0.14)	(0.55)	(1.75)	(9.60)	(5.16)	(1.22)	(0.85)	(0.71)	(0.05)	—
Net Current Asset Value Full definition →	37.84	(39.20)	11.51	56.20	135.53	99.35	(6.48)	(9.34)	(39.49)	18.50
EV/EBIT Full definition →	0.99	0.00	0.00	0.00	0.00	0.00	0.30	0.00	0.00	1.86
Capex to Sales Full definition →	0.00	0.02	0.24	89.73	5.78	0.30	0.09	0.17	0.01	0.00
Price to Operating Income Full definition →	4.46	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other line items
Depreciation/Fixed assets Full definition →	1.53	0.93	0.68	0.36	0.65	1.83	17.12	3.02	0.75	0.50
Cash ROIC Full definition →	5.00%	(40.96%)	(74.04%)	(50.59%)	(18.36%)	(9.98%)	(52.65%)	(61.79%)	(337.81%)	(52.26%)
Accounts Receivable Turnover Full definition →	7.49	3.83	4.87	2.35	4.40	2.05	3.64	3.43	9.49	13.69
Accounts Payable Turnover Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover Full definition →	—	—	—	0.00	—	—	—	—	—	—
Average Days of Payables Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days of Inventory on Hand Full definition →	—	—	—	0.00	—	—	—	—	—	—
Average Receivables Full definition →	31.66	7.49	1.51	0.05	0.20	1.98	2.71	1.21	0.62	0.65
Average Payables Full definition →	14.23	4.27	3.55	4.69	3.00	1.49	0.91	1.18	1.40	2.65
Average Assets Full definition →	176.23	129.11	122.84	187.51	186.88	94.81	36.13	19.88	22.31	56.40
Average Common Equity Full definition →	73.36	58.37	84.20	149.06	155.47	68.18	12.10	(13.74)	(10.01)	32.45

Fold the line items

Columns are period end dates

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