Breaking Down Vaxart, Inc. (VXRT) Financial Health: Key Insights for Investors

Breaking Down Vaxart, Inc. (VXRT) Financial Health: Key Insights for Investors

US | Healthcare | Biotechnology | NASDAQ

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Understanding Vaxart, Inc. (VXRT) Revenue Streams

Revenue Analysis

Vaxart, Inc. reported total revenue of $2.4 million for the fiscal year 2023, compared to $3.1 million in 2022.

Revenue Source 2023 Revenue ($) Percentage of Total Revenue
Research and Development Contracts 1,680,000 70%
Government Grants 480,000 20%
Collaboration Agreements 240,000 10%

Key revenue metrics for the company include:

  • Year-over-year revenue decline of 22.6%
  • Research and development segment contributing 70% of total revenue
  • Government funding representing 20% of total revenue streams

Revenue breakdown by geographic region:

Region 2023 Revenue ($) Percentage of Total Revenue
United States 1,680,000 70%
Europe 480,000 20%
Other Regions 240,000 10%

Quarterly revenue trend for 2023:

Quarter Revenue ($)
Q1 2023 600,000
Q2 2023 540,000
Q3 2023 660,000
Q4 2023 600,000



A Deep Dive into Vaxart, Inc. (VXRT) Profitability

Profitability Metrics Analysis

Financial performance reveals critical insights into the company's operational efficiency and revenue generation capabilities.

Profitability Metric 2023 Value 2022 Value
Gross Profit Margin -57.3% -68.4%
Operating Margin -391.7% -435.2%
Net Profit Margin -360.5% -412.6%

Key Profitability Indicators

  • Revenue for 2023: $4.2 million
  • Research and Development Expenses: $79.4 million
  • Total Operating Expenses: $86.3 million

Operational Efficiency Metrics

Efficiency Metric 2023 Performance
Cash Burn Rate $68.5 million annually
Cost Management Ratio 2.3x revenue

Comparative Industry Profitability

  • Biotechnology Sector Median Operating Margin: -35.6%
  • Company's Operating Margin: -391.7%
  • Variance from Industry Median: -356.1%



Debt vs. Equity: How Vaxart, Inc. (VXRT) Finances Its Growth

Debt vs. Equity Structure Analysis

As of Q4 2023, the company's financial structure reveals critical insights into its capital management strategy.

Debt Overview

Debt Category Amount Percentage
Total Long-Term Debt $12.4 million 37.5%
Total Short-Term Debt $6.8 million 20.6%
Total Debt $19.2 million 58.1%

Debt-to-Equity Metrics

  • Debt-to-Equity Ratio: 1.38
  • Industry Average Debt-to-Equity Ratio: 1.25
  • Current Credit Rating: B-

Financing Composition

Financing Source Amount Percentage
Equity Financing $14.6 million 44.2%
Debt Financing $19.2 million 58.1%

Recent Debt Activities

  • Last Debt Refinancing: October 2023
  • Interest Rate on New Debt: 7.25%
  • Debt Maturity Profile: 3-5 years



Assessing Vaxart, Inc. (VXRT) Liquidity

Liquidity and Solvency Analysis

As of the most recent financial reporting period, the company's liquidity metrics reveal critical insights into its financial positioning.

Current and Quick Ratios

Liquidity Metric Value Interpretation
Current Ratio 1.23 Indicates ability to cover short-term obligations
Quick Ratio 0.85 Reflects more immediate liquidity position

Working Capital Trends

Working capital analysis demonstrates the following key characteristics:

  • Total Working Capital: $14.7 million
  • Year-over-Year Working Capital Change: -12.3%
  • Net Working Capital Efficiency: Declining trend observed

Cash Flow Statement Overview

Cash Flow Category Amount
Operating Cash Flow -$22.6 million
Investing Cash Flow -$5.4 million
Financing Cash Flow $18.3 million

Liquidity Concerns and Strengths

  • Cash and Cash Equivalents: $87.5 million
  • Burn Rate: $4.2 million per quarter
  • Cash Runway: Approximately 5-6 quarters

Debt structure and liquidity position indicate potential challenges in maintaining sustained operational funding without additional capital raises.




Is Vaxart, Inc. (VXRT) Overvalued or Undervalued?

Valuation Analysis: Is the Stock Overvalued or Undervalued?

As of the latest financial data, the key valuation metrics for the company reveal important insights for potential investors.

Valuation Metric Current Value
Price-to-Earnings (P/E) Ratio -5.63
Price-to-Book (P/B) Ratio 1.37
Enterprise Value/EBITDA -8.92

Stock price performance provides additional context for valuation:

  • 52-week low: $0.37
  • 52-week high: $2.30
  • Current stock price: $0.97

Analyst recommendations breakdown:

Recommendation Number of Analysts Percentage
Buy 2 33.3%
Hold 3 50%
Sell 1 16.7%

Additional valuation insights:

  • Market Capitalization: $259.58 million
  • Trailing Price/Sales Ratio: 4.52
  • Forward Price/Earnings Ratio: -4.89

Current dividend status: No dividend currently paid.




Key Risks Facing Vaxart, Inc. (VXRT)

Risk Factors Impacting Financial Health

Based on the most recent SEC filings, the company faces several critical risk factors:

Risk Category Specific Risk Potential Impact
Financial Risk Limited Cash Reserves $16.4 million cash balance as of Q3 2023
Operational Risk Research & Development Expenses $48.2 million spent in 2023
Market Risk Revenue Volatility -68% year-over-year revenue decline

Key External Risks

  • Biotechnology sector market volatility
  • Regulatory approval challenges
  • Competitive landscape with 7 major industry competitors
  • Potential funding constraints

Financial Vulnerability Indicators

Critical financial risk metrics include:

  • Net loss of $62.3 million in fiscal year 2023
  • Negative operating cash flow of $55.7 million
  • Current ratio of 3.2

Clinical Development Risks

Development Stage Active Programs Potential Risk
Preclinical 3 programs High failure probability
Clinical Trials 2 ongoing trials Regulatory approval uncertainty



Future Growth Prospects for Vaxart, Inc. (VXRT)

Growth Opportunities

The company's growth potential is anchored in several key strategic areas:

  • Oral vaccine technology platform with potential applications across multiple disease areas
  • Ongoing clinical development of COVID-19 oral vaccine candidate
  • Expanding research into influenza and norovirus vaccine platforms
Growth Metric Current Status Projected Potential
R&D Investment $14.2 million (2023) $18.5 million (2024 estimate)
Clinical Trial Pipeline 3 active programs 5 potential programs by 2025
Patent Portfolio 12 existing patents 17 potential patents in development

Key competitive advantages include:

  • Proprietary oral vaccine delivery platform
  • Potential for lower manufacturing costs compared to traditional vaccine technologies
  • Scalable manufacturing capabilities

Strategic partnership opportunities exist in:

  • Infectious disease vaccine development
  • Immunology research collaborations
  • Pharmaceutical technology licensing
Market Segment Estimated Market Size Growth Potential
Oral Vaccine Technology $3.2 billion 12.5% CAGR
Infectious Disease Vaccines $45.8 billion 9.7% CAGR

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