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Dynavax Technolo Financials

DVAX
Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Dynavax Technolo (DVAX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 62 / 100
Financial Profile 62/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
19

Dynavax Technolo has an operating margin of -1.5%, meaning the company retains $-1 of operating profit per $100 of revenue. This below-average margin results in a low score of 19/100, suggesting thin profitability after operating expenses. This is up from -15.9% the prior year.

Growth
66

Dynavax Technolo's revenue surged 19.4% year-over-year to $277.2M, reflecting rapid business expansion. This strong growth earns a score of 66/100.

Leverage
89

Dynavax Technolo carries a low D/E ratio of 0.65, meaning only $0.65 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 89/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
100

With a current ratio of 10.80, Dynavax Technolo holds $10.80 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow
79

Dynavax Technolo converts 21.7% of revenue into free cash flow ($60.2M). This strong cash generation earns a score of 79/100.

Returns
21

Dynavax Technolo generates a 4.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 21/100. This is up from -1.0% the prior year.

Piotroski F-Score Strong
7/9

Dynavax Technolo passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed
2.44x

For every $1 of reported earnings, Dynavax Technolo generates $2.44 in operating cash flow ($66.5M OCF vs $27.3M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk
-0.6x

Dynavax Technolo earns $-0.6 in operating income for every $1 of interest expense (-$4.1M vs $6.8M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$277.2M
YoY+19.4%
5Y CAGR+51.1%
10Y CAGR+38.0%

Dynavax Technolo generated $277.2M in revenue in fiscal year 2024. This represents an increase of 19.4% from the prior year.

EBITDA
$505K
YoY+101.5%

Dynavax Technolo's EBITDA was $505K in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 101.5% from the prior year.

Net Income
$27.3M
YoY+527.4%

Dynavax Technolo reported $27.3M in net income in fiscal year 2024. This represents an increase of 527.4% from the prior year.

EPS (Diluted)
$0.20
YoY+500.0%

Dynavax Technolo earned $0.20 per diluted share (EPS) in fiscal year 2024. This represents an increase of 500.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$60.2M
YoY-37.6%

Dynavax Technolo generated $60.2M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 37.6% from the prior year.

Cash & Debt
$95.9M
YoY-36.2%
5Y CAGR+19.2%
10Y CAGR+6.8%

Dynavax Technolo held $95.9M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share
N/A
Shares Outstanding
125M
YoY-3.1%
5Y CAGR+8.4%
10Y CAGR+16.9%

Dynavax Technolo had 125M shares outstanding in fiscal year 2024. This represents a decrease of 3.1% from the prior year.

Margins & Returns

Gross Margin
82.2%
YoY+3.8pp
5Y CAGR+11.0pp

Dynavax Technolo's gross margin was 82.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 3.8 percentage points from the prior year.

Operating Margin
-1.5%
YoY+14.4pp
5Y CAGR+381.4pp
10Y CAGR+826.2pp

Dynavax Technolo's operating margin was -1.5% in fiscal year 2024, reflecting core business profitability. This is up 14.4 percentage points from the prior year.

Net Margin
9.8%
YoY+12.6pp
5Y CAGR+443.1pp
10Y CAGR+832.2pp

Dynavax Technolo's net profit margin was 9.8% in fiscal year 2024, showing the share of revenue converted to profit. This is up 12.6 percentage points from the prior year.

Return on Equity
4.6%
YoY+5.6pp
5Y CAGR+1845.3pp
10Y CAGR+94.9pp

Dynavax Technolo's ROE was 4.6% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 5.6 percentage points from the prior year.

Capital Allocation

R&D Spending
$61.5M
YoY+12.1%
5Y CAGR-0.3%
10Y CAGR-3.1%

Dynavax Technolo invested $61.5M in research and development in fiscal year 2024. This represents an increase of 12.1% from the prior year.

Share Buybacks
$100.0M

Dynavax Technolo spent $100.0M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures
$6.4M
YoY+54.8%
5Y CAGR-22.3%
10Y CAGR+14.3%

Dynavax Technolo invested $6.4M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 54.8% from the prior year.

DVAX Income Statement

Metric Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23
Revenue $94.9M-0.6% $95.4M+40.0% $68.2M-5.4% $72.0M-10.7% $80.6M+9.3% $73.8M+45.3% $50.8M-8.6% $55.6M
Cost of Revenue $14.4M+2.6% $14.0M+1.9% $13.8M+2.7% $13.4M+2.5% $13.1M+9.2% $12.0M+9.3% $11.0M+26.2% $8.7M
Gross Profit $80.5M-1.1% $81.4M+49.7% $54.4M-7.2% $58.6M-13.2% $67.5M+9.3% $61.8M+55.2% $39.8M-15.1% $46.9M
R&D Expenses $19.1M+15.0% $16.6M-14.2% $19.4M+3.8% $18.7M+29.6% $14.4M-3.7% $14.9M+10.5% $13.5M-4.2% $14.1M
SG&A Expenses $40.1M-20.4% $50.4M+5.6% $47.7M+14.7% $41.6M-3.4% $43.1M+3.4% $41.7M-5.5% $44.1M+6.7% $41.3M
Operating Income $21.3M+47.4% $14.4M+161.1% -$23.6M-1347.0% -$1.6M-116.2% $10.1M+94.0% $5.2M+129.3% -$17.8M-109.3% -$8.5M
Interest Expense $1.6M+0.1% $1.6M-3.0% $1.7M-0.6% $1.7M+0.2% $1.7M+0.1% $1.7M+0.2% $1.7M+0.2% $1.7M
Income Tax $1.5M-40.2% $2.5M+240.5% -$1.8M-407.3% $578K-74.0% $2.2M-36.8% $3.5M+226.8% -$2.8M-457.3% $777K
Net Income $26.9M+43.8% $18.7M+119.5% -$96.1M-1463.1% $7.0M-59.9% $17.6M+54.5% $11.4M+230.6% -$8.7M-4082.2% $219K
EPS (Diluted) $0.21+50.0% $0.14+118.2% $-0.77 N/A $0.12+50.0% $0.08+214.3% $-0.07 N/A

DVAX Balance Sheet

Metric Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23
Total Assets $946.5M+3.1% $918.4M-2.9% $945.9M-4.1% $986.3M-7.1% $1.1B+4.5% $1.0B+3.0% $986.6M-1.1% $997.1M
Current Assets $814.3M+3.6% $785.7M-3.7% $816.0M-3.9% $848.9M-8.3% $926.2M+5.0% $882.0M+3.6% $851.3M-0.9% $859.1M
Cash & Equivalents $160.2M+61.7% $99.1M+91.6% $51.7M-46.1% $95.9M-19.7% $119.3M+6.1% $112.5M-14.8% $132.0M-12.1% $150.3M
Inventory $73.3M-3.2% $75.7M+1.7% $74.4M+6.2% $70.1M+12.3% $62.4M-0.1% $62.5M+1.1% $61.8M+16.0% $53.3M
Accounts Receivable N/A N/A N/A N/A N/A N/A N/A N/A
Goodwill $2.2M0.0% $2.2M+8.5% $2.0M+4.2% $1.9M-6.9% $2.1M+4.2% $2.0M-0.7% $2.0M-2.2% $2.1M
Total Liabilities $412.4M-2.8% $424.3M+2.2% $415.0M+6.6% $389.5M+2.3% $380.6M+1.9% $373.5M+1.5% $368.1M-1.9% $375.0M
Current Liabilities $106.8M-9.6% $118.2M+72.9% $68.4M-13.0% $78.6M+12.3% $70.0M+12.6% $62.2M+11.1% $56.0M-10.0% $62.2M
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $534.1M+8.1% $494.2M-6.9% $530.9M-11.0% $596.8M-12.4% $681.4M+6.0% $642.8M+3.9% $618.5M-0.6% $622.1M
Retained Earnings -$953.7M+2.7% -$980.7M+1.9% -$999.4M-10.6% -$903.3M+0.8% -$910.3M+1.9% -$927.9M+1.2% -$939.3M-0.9% -$930.6M

DVAX Cash Flow Statement

Metric Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23
Operating Cash Flow $33.8M+44.4% $23.4M+219.3% -$19.6M-137.0% $53.0M+172.3% $19.5M+81.7% $10.7M+164.2% -$16.7M-221.2% $13.8M
Capital Expenditures $1.2M-14.8% $1.5M-63.0% $3.9M+12.9% $3.5M+158.4% $1.3M+72.8% $779K+4.0% $749K-56.5% $1.7M
Free Cash Flow $32.6M+48.3% $22.0M+193.3% -$23.6M-147.6% $49.5M+173.3% $18.1M+82.4% $9.9M+157.0% -$17.4M-244.7% $12.0M
Investing Cash Flow $27.3M-71.2% $94.8M+1271.8% $6.9M-70.4% $23.4M+251.1% -$15.5M+46.2% -$28.8M-1116.1% $2.8M+114.0% -$20.2M
Financing Cash Flow -$61K+99.9% -$71.9M-125.6% -$31.9M+67.8% -$98.9M-4093.3% $2.5M+275.0% -$1.4M+66.3% -$4.2M-336.7% $1.8M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks $572K-99.2% $71.2M+141.5% $29.5M-70.5% $100.0M $0 $0 $0 N/A

DVAX Financial Ratios

Metric Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23
Gross Margin 84.8%-0.5pp 85.3%+5.5pp 79.8%-1.6pp 81.4%-2.4pp 83.8%0.0pp 83.8%+5.3pp 78.4%-6.0pp 84.4%
Operating Margin 22.4%+7.3pp 15.1%+49.8pp -34.7%-32.4pp -2.3%-14.8pp 12.5%+5.5pp 7.0%+42.0pp -35.0%-19.7pp -15.3%
Net Margin 28.4%+8.8pp 19.6%+160.6pp -141.0%-150.8pp 9.8%-12.0pp 21.8%+6.4pp 15.4%+32.6pp -17.2%-17.6pp 0.4%
Return on Equity 5.0%+1.2pp 3.8%+21.9pp -18.1%-19.3pp 1.2%-1.4pp 2.6%+0.8pp 1.8%+3.2pp -1.4%-1.4pp 0.0%
Return on Assets 2.8%+0.8pp 2.0%+12.2pp -10.2%-10.9pp 0.7%-0.9pp 1.7%+0.5pp 1.1%+2.0pp -0.9%-0.9pp 0.0%
Current Ratio 7.62+1.0 6.65-5.3 11.93+1.1 10.80-2.4 13.23-1.0 14.18-1.0 15.20+1.4 13.81
Debt-to-Equity 0.77-0.1 0.86+0.1 0.78+0.1 0.65+0.1 0.56-0.0 0.58-0.0 0.600.0 0.60
FCF Margin 34.4%+11.3pp 23.0%+57.6pp -34.6%-103.3pp 68.8%+46.3pp 22.5%+9.0pp 13.5%+47.8pp -34.3%-56.0pp 21.7%

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Frequently Asked Questions

Dynavax Technolo (DVAX) reported $277.2M in total revenue for fiscal year 2024. This represents a 19.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Dynavax Technolo (DVAX) revenue grew by 19.4% year-over-year, from $232.3M to $277.2M in fiscal year 2024.

Yes, Dynavax Technolo (DVAX) reported a net income of $27.3M in fiscal year 2024, with a net profit margin of 9.8%.

Dynavax Technolo (DVAX) reported diluted earnings per share of $0.20 for fiscal year 2024. This represents a 500.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Dynavax Technolo (DVAX) had EBITDA of $505K in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

Dynavax Technolo (DVAX) had a gross margin of 82.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

Dynavax Technolo (DVAX) had an operating margin of -1.5% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

Dynavax Technolo (DVAX) had a net profit margin of 9.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Dynavax Technolo (DVAX) has a return on equity of 4.6% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

Dynavax Technolo (DVAX) generated $60.2M in free cash flow during fiscal year 2024. This represents a -37.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Dynavax Technolo (DVAX) generated $66.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

Dynavax Technolo (DVAX) had $986.3M in total assets as of fiscal year 2024, including both current and long-term assets.

Dynavax Technolo (DVAX) invested $6.4M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

Dynavax Technolo (DVAX) invested $61.5M in research and development during fiscal year 2024.

Yes, Dynavax Technolo (DVAX) spent $100.0M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

Dynavax Technolo (DVAX) had 125M shares outstanding as of fiscal year 2024.

Dynavax Technolo (DVAX) had a current ratio of 10.80 as of fiscal year 2024, which is generally considered healthy.

Dynavax Technolo (DVAX) had a debt-to-equity ratio of 0.65 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

Dynavax Technolo (DVAX) had a return on assets of 2.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

Dynavax Technolo (DVAX) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Dynavax Technolo (DVAX) has an earnings quality ratio of 2.44x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Dynavax Technolo (DVAX) has an interest coverage ratio of -0.6x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Dynavax Technolo (DVAX) scores 62 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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