EarningsQ2 2026 Earnings Report
MX:VXRT Q2 2026 EPS Results
Actual EPS-$1.02
Consensus EPS-$2.05
Beat/MissBeat by +$1.02
One Year Ago EPS-$1.19
MX:VXRT Q2 2026 Revenue Results
Actual Revenue$463.99M
Expected Revenue$447.38M
Beat/MissBeat by +$16.61M
YoY Revenue Growth-31.58%
Earnings Announcement Details
QuarterQ2 2026
Date08/06/2026
TimeAfter Close
Conference CallThursday, August 6, 2026
MX:VXRT Upcoming Earnings
Vaxart's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:VXRT Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presents a balanced mix of encouraging clinical and operational developments alongside material financial and timing risks. Key positives include a clean 12‑month safety signal in the sentinel cohort, BARDA’s $29 million contract modification enabling deeper analyses, a fully enrolled ~5,000‑participant main cohort with topline expected H1 2027, governance improvements, and a defined cash runway with flexible financing options. Offsetting these are a ~31.5% year‑over‑year revenue decline, a limited cash runway into Q2 2027 that creates timing pressure for funding or partner opt‑ins, reliance on BARDA for data release timing, uncertainty around the norovirus partnership and development timelines, and that the sentinel cohort was not powered to demonstrate efficacy (symptomatic case counts were similar between arms). On balance, positives (safety readout, BARDA support, large main cohort enrollment, governance actions) are meaningful but are matched by significant near‑term financing and commercialization uncertainties; the overall tone is constructive but cautious.Company Guidance
Positive 12-Month Safety Readout from Phase IIb Sentinel Cohort
In July Vaxart reported positive 12-month safety data from the ~400‑participant sentinel cohort in the Phase IIb COVID-19 trial: 0 vaccine‑related serious health complications and 0 severe or long‑lasting adverse events in either the oral pill or mRNA comparator arms.
Favorable Tolerability Profile for Oral Pill vs mRNA Comparator
Oral pill side effects were generally mild-to-moderate (fatigue 20.9%, headache 18.9%, loss of appetite ~10%); comparators had higher local and systemic reactogenicity (injection site pain >60%, tenderness 40.2%, fatigue 35.2%, muscle pain 33.2%, headache 28.6%).
Main Phase IIb Cohort Fully Enrolled (~5,000) with Topline Data Expected H1 2027
The main cohort of ~5,000 participants (vaccinated against KP.2 variant) is fully enrolled and powered to deliver statistically significant safety and efficacy readouts; topline results are expected in the first half of 2027.
Additional BARDA Funding to Support Deeper Analyses
A June contract modification with BARDA released an additional $29 million to fund expanded exploratory analyses (deeper subvariant genomic sequencing, extended mucosal and cellular biomarker profiling and other high‑resolution analytics) across the main cohort.
Cash Position and Flexible Financing Options
Cash, cash equivalents and short‑term investments were $64 million at quarter end, with management projecting runway into Q2 2027 under the current plan. A $25 million share purchase agreement (Lincoln Park Capital) remains available for flexible capital access.
Reduced Quarterly Loss and Disciplined Cost Management
Net loss improved to $13.5 million (‑$0.06 per share) from $15.0 million (‑$0.07) year‑over‑year (~10% improvement). R&D spend declined to $33.7 million from $49.7 million (a ~32.2% reduction), reflecting lower clinical expenses and other cost controls.
Governance Enhancements and Shareholder Engagement
Company entered a cooperation agreement with a shareholder group, reorganized Board leadership, appointed new committee chairs, formed a Stockholder Engagement Committee and a Clinical & Regulatory Affairs Committee, and is searching for an additional independent director.
Platform Advantages and Scientific Rationale Highlighted
Management emphasized mucosal IgA induction, broad cross‑reactivity potential versus SARS‑CoV‑2 variants, and the platform’s potential for needle‑free, room‑temperature‑stable oral vaccines across targets (COVID, norovirus, flu, HPV, HBV).
MX:VXRT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed