SEC filings · customer concentration · NVAX

Novavax's major customers

Government Of Canada accounted for 51% of Novavax's revenue in FY 2025.

2major customers now
87%of revenue from them
0listed suppliers depending on it
2019–2026years covered
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Major customers of Novavax

Customers that Novavax named in its annual report as 10% or more of revenue. A missing year means the customer was below that line or not named.

CustomerShare of revenueChange vs prior yearHistoryLatest filing
Government Of Canada51%newFY 2022: 10%FY 2025: 51%2 yearsFY 2025 · filed 26 Feb 2026
SanofiSNY36%▼ from 68%FY 2024: 68%FY 2025: 36%2 yearsFY 2025 · filed 26 Feb 2026

Formerly disclosed

CustomerShare of revenueChange vs prior yearHistoryLatest filing
Bill Melinda Gates Foundation45%last FY 2019FY 2019: 45%1 yearFY 2019 · filed 1 Mar 2022
U.S. Government43%last FY 2023FY 2019: 40%FY 2020: 46%FY 2021: 71%FY 2022: 19%FY 2023: 43%5 yearsFY 2023 · filed 26 Feb 2026
Government Of Australia18%last FY 2023FY 2022: 21%FY 2023: 18%2 yearsFY 2023 · filed 26 Feb 2026
SK Bioscience14%last FY 2021FY 2021: 14%1 yearFY 2021 · filed 28 Feb 2024
European Commission13%last FY 2024FY 2022: 40%FY 2023: 27%FY 2024: 13%3 yearsFY 2024 · filed 26 Feb 2026
Coalition For Epidemic Preparedness Innovations12%last FY 2021FY 2020: 47%FY 2021: 12%2 yearsFY 2021 · filed 28 Feb 2024

About this data

US-listed companies must disclose revenue from any single customer that reaches 10% of their total (ASC 280). ShadowGraph reads these disclosures from the XBRL data of every 10-K and 20-F we scan, keeps one value per fiscal year (restatements replace earlier values) and links each number to its filing. Companies that describe a customer only as "Customer A" are not listed by name. Figures are as reported; nothing here is investment advice.

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