Vaxart, Inc. (OTC:VXRT)
Insiders here have filed 1 Form 4 in the last 90 days, but all of them are share awards, grants or other non-market transactions. Those are compensation, not a decision to buy, so they are not scored.
Keeps a healthy share of every dollar it sells.
- Revenue
- $243.1M
- Net income
- $38.6M
- Net margin
- 15.9%
Little or no net debt.
- Total debt
- $7.8M
- Cash
- $50.9M
- Net debt / EBITDA
- -0.91x
Comfortably covers what is due within a year.
- Current assets
- $116.7M
- Current liabilities
- $73.1M
- Current ratio
- 1.60
The business funds itself from operations.
- Operating cash flow
- $34.0M
- Free cash flow
- $33.4M
- FCF margin
- 13.7%
Not funding itself by issuing shares.
- Shares outstanding
- 242.2M
- Share growth (1y)
- 6.0%
Five pillars — profitability, leverage, liquidity, cash generation, dilution & runway — each scored 0–20 from the company’s own income statement, balance sheet and cash-flow statement, then scaled to 100. A pillar the statements cannot answer is left out rather than guessed; fewer than three and no score is shown.
VXRT Income Statement
| Fiscal Period | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|
| Period Ending | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 |
| Revenue | 27.18 M | 39.23 M | 104.24 M | 72.41 M | 39.73 M | 20.88 M |
| Revenue Growth (YoY) | -31.58 % | 87.90 % | 586.46 % | 1367.93 % | 520.68 % | 857.18 % |
| Cost of Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 27.18 M | 39.23 M | 104.24 M | 72.41 M | 39.73 M | 20.88 M |
| SG&A Expense | 6.60 M | 4.64 M | 3.67 M | 4.28 M | 4.60 M | 5.07 M |
| R&D Expense | 33.75 M | 29.41 M | 45.15 M | 75.95 M | 49.73 M | 30.74 M |
| Operating Expenses | 40.36 M | 34.05 M | 48.82 M | 80.22 M | 54.33 M | 35.81 M |
| Operating Income | -13.17 M | 5.17 M | 55.42 M | -7.81 M | -14.60 M | -14.94 M |
| Pretax Income | -13.46 M | 5.21 M | 55.39 M | -8.12 M | -14.97 M | -15.50 M |
| Tax Provision | 29.00 K | 29.00 K | 344.00 K | 17.00 K | 20.00 K | 95.00 K |
| Net Income | -13.49 M | 5.18 M | 55.05 M | -8.14 M | -14.99 M | -15.59 M |
| EPS (Basic) | -0.06 | 0.02 | 0.23 | -0.04 | -0.07 | -0.07 |
| EPS (Diluted) | -0.06 | 0.02 | 0.23 | -0.04 | -0.07 | -0.07 |
| Shares Outstanding | 242.17 M | 240.65 M | 230.27 M | 228.93 M | 228.37 M | 227.92 M |
Quarterly figures; YoY compares the same fiscal quarter a year earlier. Source: public market data.