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OTC · Health care

Vaxart, Inc. (VXRT)

Vaxart, Inc. brought in $243.1M of revenue over the twelve months to June 30, 2026, up 201.1% from a year earlier. Net income was $38.6M, a net margin of 15.9%. Operating cash flow minus capital spending left $7.6M of free cash flow in fiscal 2025. At June 30, 2026 it held $50.9M in cash. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on August 6, 2026.

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Price
$0.45
-1.24% on the day · September 28, 2026
52-week range $0.31 to $0.84
Market cap
$110.2M
Revenue (last 12 months)
$243.1M
+201.1% year on year
Net margin
15.9%
P/E
6.5
on FY2025 diluted EPS

What Vaxart, Inc. does

Vaxart, Inc. is registered with the SEC under industry code SIC 2836 (Biological Products, (No Diagnostic Substances)). Its shares trade on OTC under the ticker VXRT.

Revenue and profit by year

Revenue
FY18: $4.2M $4.2M FY18FY19: $9.9M $9.9M FY19FY20: $4M $4M FY20FY21: $892K $892K FY21FY22: $107K $107K FY22FY23: $7.4M $7.4M FY23FY24: $28.7M $28.7M FY24FY25: $237.3M $237.3M FY25
Net income
FY18: -$18M -$18M FY18FY19: -$18.6M -$18.6M FY19FY20: -$32.2M -$32.2M FY20FY21: -$70.5M -$70.5M FY21FY22: -$107.8M -$107.8M FY22FY23: -$82.5M -$82.5M FY23FY24: -$66.9M -$66.9M FY24FY25: $16.3M $16.3M FY25

Fiscal years as reported in annual reports. Amounts in USD.

Key figures

Fiscal yearRevenueOperating incomeNet incomeDiluted EPSFree cash flow
2025$237.3M$18.1M$16.3M$0.07$7.6M
2024$28.7M-$66.3M-$66.9M-$0.33-$45.3M
2023$7.4M-$83.3M-$82.5M-$0.57-$72.3M
2022$107K-$114.6M-$107.8M-$0.84-$104.4M
2021$892K-$72.8M-$70.5M-$0.58-$65M
2020$4M-$30.2M-$32.2M-$0.36-$25M

Full financial statements: income, balance sheet and cash flow

Where VXRT ranks in Health care

Revenue$237.3M
#257 of 742 in Health care · Top 35%
Revenue growth+726.7%
#11 of 529 in Health care · Top 2%
Net margin6.9%
#145 of 541 in Health care · Top 27%
Free cash flow margin3.2%
#205 of 488 in Health care · Top 42%

Latest fiscal year of every company in the sector with the figure reported. Revenue is ranked among companies reporting in US dollars; growth and margins among companies with at least 10 million of revenue. Health care

Latest SEC filings

What Vaxart, Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.

  1. September 14, 2026
  2. August 25, 2026
  3. August 6, 2026
    Quarterly report 10-Q · period to June 30, 2026Revenue fell 32% to $27.2M versus the same quarter last year; diluted EPS -$0.06 versus -$0.07.
  4. August 6, 2026
  5. July 28, 2026
  6. July 17, 2026
  7. July 7, 2026
  8. July 6, 2026
  9. July 2, 2026
  10. July 2, 2026

Recent insider filings (Forms 3, 4 and 144): 10, the latest on July 20, 2026. Insider transactions on SEC

What is VXRT worth? A DCF from its reported cash flow

Insider trades

What the people running Vaxart, Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.

No insider bought or sold shares on the open market in the last 90 days. The 5 reported changes were pay in shares, option exercises, shares withheld for tax or gifts.

Bought (open market)
$0
last 90 days
Sold
$0
last 90 days
DateInsiderWhatSharesPriceValueFiling
July 16, 2026 Finney KevinDirector Received as pay 39,400 - - Form 4
July 16, 2026 Wheadon David E.Director Received as pay 39,400 - - Form 4
July 16, 2026 Watson W. MarkDirector Received as pay 39,400 - - Form 4
July 16, 2026 Heron Elaine JDirector Received as pay 39,400 - - Form 4
July 16, 2026 Breitmeyer James BDirector Received as pay 8,315 - - Form 4
May 22, 2026 Watson W. MarkDirector Bought 10,000 $0.65 $6.5K Form 4
May 19, 2026 Grasman Jeroen NicolaasChief Financial Officer Shares withheld for tax 31,395 $0.61 $19.2K Form 4
April 23, 2026 Breitmeyer James BDirector Received as pay 78,800 - - Form 4
March 28, 2026 Tucker SeanSVP, Chief Scientific Officer Shares withheld for tax 3,924 $0.65 $2.6K Form 4

All insider filings on SEC.gov · Where insiders are buying across the market

Who owns VXRT

Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.

5% holders

Anyone who owns more than 5% of a class of shares must say so on Schedule 13D (if they may seek to influence the company) or 13G (a passive holder). The latest filing of each holder is shown: 13G filings of the last 2 years, 13D of the last 3.

We have not read this company's Schedule 13D and 13G filings yet.

Largest institutional holders

No Form 13F positions imported for this company yet.

Insiders

Reported holdings of insiders who filed a Form 4 in the last 12 months: the shares each one held after their latest reported transaction. This is not the total held by all insiders.

7 insiders reported holding 2,155,343 shares in total, about $978.5K at the last price.

HolderSharesAs of
Tucker SeanSVP, Chief Scientific Officer 882,811 March 28, 2026
Grasman Jeroen NicolaasChief Financial Officer 545,605 May 19, 2026
Finney KevinDirector 244,171 July 16, 2026
Watson W. MarkDirector 173,525 July 16, 2026
Heron Elaine JDirector 135,966 July 16, 2026
Breitmeyer James BDirector 87,115 July 16, 2026
Wheadon David E.Director 86,150 July 16, 2026

Schedule 13D/13G filings on SEC.gov

All filings on SEC EDGAR

Questions about VXRT

What does Vaxart, Inc. do?

Vaxart, Inc. is registered with the SEC under industry code SIC 2836 (Biological Products, (No Diagnostic Substances)). Its shares trade on OTC under the ticker VXRT.

Is Vaxart, Inc. profitable?

Yes. Over the twelve months to June 30, 2026 it reported net income of $38.6M on revenue of $243.1M, a net margin of 15.9%.

How much revenue does Vaxart, Inc. make?

Over the twelve months to June 30, 2026 Vaxart, Inc. reported revenue of $243.1M. That is 201.1% more than a year earlier.

When did Vaxart, Inc. last report?

Its most recent periodic report is the quarterly report (10-Q) filed on August 6, 2026. It covers the period to June 30, 2026. Its newest filing of any kind is the other event from September 14, 2026.

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Where the numbers come from

Financial figures are the values Vaxart, Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.

Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.