EVAX revenueFY2025$7.53M
- FY YoY
- +125.1%
EVAX revenue was $7.53M for fiscal 2025 (ended Dec 31, 2025), up 125.1% from fiscal 2024.
Evaxion A/S (EVAX) financials
For fiscal 2025 (ended Dec 31, 2025), Evaxion A/S reported $7.53M of revenue and -$7.71M of net income.
- Revenue, FY2025
- $7.53M
- Revenue growth, YoY
- +125.1%
- Net income, FY2025
- -$7.71M
- Net margin
- -102.4%
- Free cash flow, FY2025
- -$6.64M
- Cash
- $23.23M
- Total debt
- $5.54M
- P/S
- 3.50
- Market cap
- $26.4M
FY2022FY2025
FY2018FY2025
FY2018FY2025
EVAX revenue and earnings growth
EVAX net incomeFY2025-$7.71M
EVAX net income was -$7.71M for fiscal 2025 (ended Dec 31, 2025), compared with -$10.57M in fiscal 2024.
EVAX free cash flowFY2025-$6.64M
EVAX free cash flow was -$6.64M for fiscal 2025 (ended Dec 31, 2025), compared with -$12.94M in fiscal 2024.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7.53M | $3.34M | $73.0K | $0 | - | - | - | - |
| Research and development | $9.97M | $10.46M | $11.92M | $17.06M | $19.58M | $10.90M | $8.22M | $3.73M |
| Selling, general and admin | $6.79M | $7.62M | $10.35M | $8.21M | $6.25M | $5.67M | $2.65M | $1.90M |
| Operating income | -$9.23M | -$14.73M | -$22.20M | -$25.26M | -$25.83M | -$16.57M | -$10.86M | -$5.63M |
| Interest expense | $0 | $0 | $1.0K | $34.0K | $5.0K | $29.0K | $36.0K | $10.0K |
| Pre-tax income | -$8.62M | -$11.36M | -$22.91M | -$23.94M | -$24.71M | -$16.57M | -$12.02M | -$6.27M |
| Income tax | -$908.0K | -$788.0K | -$790.0K | -$772.0K | -$178.0K | -$1.56M | -$825.0K | -$735.0K |
| Net income | -$7.71M | -$10.57M | -$22.13M | -$23.17M | -$24.53M | -$15.02M | -$11.20M | -$5.54M |
| EPS, basic | -$0.02 | -$0.20 | -$0.81 | -$0.98 | -$1.26 | -$0.97 | -$0.81 | - |
| EPS, diluted | - | - | -$0.81 | -$0.98 | -$1.26 | -$0.97 | -$0.81 | - |
| Diluted shares | 320.4M | 53.6M | 27.3M | 23.6M | 19.5M | 15.4M | 13.9M | 12.9M |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $23.23M | $5.95M | $5.58M | $13.18M | $32.17M | $5.83M | $9.56M | $7.43M |
| Receivables | - | - | $1.95M | $2.79M | $1.14M | $1.55M | $575.0K | - |
| Current assets | $24.90M | $8.77M | $8.35M | $16.98M | $34.70M | $10.95M | $10.96M | - |
| Total assets | $28.41M | $12.48M | $12.89M | $22.02M | $40.16M | $11.96M | $11.08M | - |
| Current liabilities | $4.26M | $4.37M | $7.08M | $3.76M | $4.32M | $4.93M | $1.72M | - |
| Short-term debt | $190.0K | $159.0K | $159.0K | $136.0K | - | - | - | - |
| Long-term debt | $5.35M | $8.01M | $8.49M | $7.86M | $1.04M | - | - | - |
| Total debt | $5.54M | $8.17M | $8.65M | $8.00M | $1.04M | - | - | - |
| Total liabilities | $11.37M | $14.14M | $17.62M | $13.72M | $7.73M | $4.93M | $1.72M | - |
| Shareholders' equity | $17.04M | -$1.65M | -$4.73M | $8.30M | $32.44M | $7.04M | $9.36M | -$931.0K |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$6.63M | -$12.94M | -$17.69M | -$25.77M | -$21.93M | -$12.44M | -$7.02M | -$1.99M |
| Capital expenditures | $11.0K | $0 | $87.0K | $292.0K | $1.30M | $149.0K | $61.0K | $7.0K |
| Free cash flow | -$6.64M | -$12.94M | -$17.78M | -$26.07M | -$23.23M | -$12.59M | -$7.08M | -$2.00M |
| Investing cash flow | -$14.0K | -$3.0K | -$93.0K | -$268.0K | -$1.33M | -$393.0K | -$68.0K | $6.0K |
| Financing cash flow | $22.41M | $13.13M | $10.69M | $7.85M | $49.80M | $8.82M | $9.51M | $9.03M |
| Stock-based compensation | $307.0K | $357.0K | $479.0K | $942.0K | $1.38M | $3.41M | $2.36M | $2.07M |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 125.1% | 4480.8% | - | - | - | - | - | - |
| Operating margin | -122.7% | -440.6% | -30406.8% | - | - | - | - | - |
| Net margin | -102.4% | -316.0% | -30308.2% | - | - | - | - | - |
| Free cash flow margin | -88.2% | -387.0% | -24353.4% | - | - | - | - | - |
| Return on equity | -45.2% | - | - | -279.0% | -75.6% | -213.4% | -119.6% | - |
| Return on assets | -27.1% | -84.6% | -171.7% | -105.2% | -61.1% | -125.5% | -101.0% | - |
| Current ratio | 5.85 | 2.01 | 1.18 | 4.51 | 8.03 | 2.22 | 6.36 | - |
| Debt to equity | 0.32 | - | - | 0.96 | 0.03 | - | - | - |
Source: XBRL data Evaxion A/S files with the SEC, latest filing dated Mar 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
Foreign private issuers file annual reports with the SEC, so there are no quarterly statements here.
EVAX peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| EVAX | $7.53M | +125.1% | -$7.71M | -102.4% | $26.4M |
| AMGN | $38.90B | +8.2% | $9.39B | 24.1% | $251.65B |
| GILD | $30.99B | +6.5% | -$3.86B | -12.5% | $211.94B |
| MRNA | $2.52B | +13.1% | -$2.79B | -110.5% | $101.49B |
| ARGX | $4.25B | +88.6% | $1.29B | 30.4% | $60.30B |
| RVMD | $0 | - | -$1.13B | - | $41.76B |
| BIIB | $10.30B | +2.3% | $347.50M | 3.4% | $37.44B |
| BNTX | €2.87B | +4.3% | -€1.14B | -39.6% | $21.91B |
| EXEL | $2.50B | +9.1% | $885.14M | 35.5% | $17.22B |
EVAX FAQ
7 questionsWhat is EVAX revenue?
Evaxion A/S (EVAX) reported $7.53M of revenue for fiscal 2025 (ended Dec 31, 2025). That is up 125.1% from the year before.Is EVAX profitable?
No. Evaxion A/S reported a net loss of $7.71M for fiscal 2025 (ended Dec 31, 2025).How much cash and debt does EVAX have?
Evaxion A/S reported $23.23M in cash and cash equivalents and $5.54M of debt on its most recent balance sheet in SEC filings.How fast is EVAX revenue growing?
Evaxion A/S's revenue changed +125.1% in fiscal 2025, to $7.53M.What is EVAX free cash flow?
Evaxion A/S generated -$6.64M of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of -$6.63M less capital expenditures.When did EVAX last report financial results?
The latest statements here come from Evaxion A/S's 20-F filed on Mar 5, 2026, covering the period ended Dec 31, 2025.Where does this EVAX financial data come from?
Quantisnow builds these statements from the structured XBRL data Evaxion A/S files with the SEC. It is provided for information only and is not investment advice.