What is Vaxxinity, Inc.'s earnings per share (EPS)?

Vaxxinity, Inc. (VAXX) reported diluted earnings per share of $-0.45 for fiscal year 2023. This represents a 25.0% 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.

Vaxxinity, Inc. Financials

VAXX

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2023 Currency USD FYE December

This page shows Vaxxinity, Inc. (VAXX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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).

Rhea AI VAXX FY2023 2026-04-22

Vaxxinity’s spending cuts are slowing losses, but the business still runs on depleting financing cash rather than revenue.

From FY2021 to FY2023, R&D plus SG&A fell from $123.2M to $58.3M. Yet year-end cash also fell from $144.9M to $4.9M, so the cost reset reduced losses without preserving the financial cushion; net losses improved, but the balance sheet became much less forgiving.

FY2023 still had a development-stage cost structure: R&D was $35.9M while revenue was not reported. Operating cash flow of -$57.2M was almost the same as net loss of -$56.9M, which means losses were largely cash losses rather than an accounting artifact; for a pre-revenue company, that is a cleaner read on how much cash the operation actually consumes.

Current assets were 1.9x current liabilities, but only $4.9M sat in cash at year-end. Against $30.9M of total liabilities, that points to thinner liquidity and much less internal funding capacity than a year earlier, so the balance sheet now provides less room for the same operating burn to continue without outside support.

Financial Health Signals

Financial Profile 15/100

Based on FY2023 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Vaxxinity, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Leverage

Vaxxinity, Inc. has a moderate D/E ratio of 2.30. This balance of debt and equity financing earns a leverage score of 55/100.

Liquidity

Vaxxinity, Inc.'s current ratio of 1.89 indicates adequate short-term liquidity, earning a score of 34/100. The company can meet its near-term obligations, though with limited headroom.

Returns

Vaxxinity, Inc. generates a -424.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -121.0% the prior year.

Piotroski F-Score Weak

0/9

Vaxxinity, Inc. passes 0 of 9 financial strength tests. No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

1.01x

For every $1 of reported earnings, Vaxxinity, Inc. generates $1.01 in operating cash flow (-$57.2M OCF vs -$56.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-83.7x

Vaxxinity, Inc. earns $-83.7 in operating income for every $1 of interest expense (-$58.3M vs $696K). 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

N/A

EBITDA

-$56.1M

YoY+24.6%

Vaxxinity, Inc.'s EBITDA was -$56.1M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 24.6% from the prior year.

Net Income

-$56.9M

YoY+24.3%

Vaxxinity, Inc. reported -$56.9M in net income in fiscal year 2023. This represents an increase of 24.3% from the prior year.

EPS (Diluted)

$-0.45

YoY+25.0%

Vaxxinity, Inc. earned $-0.45 per diluted share (EPS) in fiscal year 2023. This represents an increase of 25.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$58.0M

YoY-0.4%

Vaxxinity, Inc. generated -$58.0M in free cash flow in fiscal year 2023, representing cash available after capex. This represents a decrease of 0.4% from the prior year.

Cash & Debt

$4.9M

YoY-85.3%

Vaxxinity, Inc. held $4.9M in cash against $0 in long-term debt as of fiscal year 2023.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-424.6%

YoY-303.6pp

Vaxxinity, Inc.'s ROE was -424.6% in fiscal year 2023, measuring profit generated per dollar of shareholder equity. This is down 303.6 percentage points from the prior year.

Capital Allocation

R&D Spending

$35.9M

YoY-24.6%

Vaxxinity, Inc. invested $35.9M in research and development in fiscal year 2023. This represents a decrease of 24.6% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$803K

YoY-57.0%

Vaxxinity, Inc. invested $803K in capex in fiscal year 2023, funding long-term assets and infrastructure. This represents a decrease of 57.0% from the prior year.

VAXX Income Statement

Metric	FY23	FY22	FY21	FY20
Revenue	N/A	$0-100.0%	$66K-88.2%	$557K
Cost of Revenue	N/A	$0-100.0%	$1.9M+3625.0%	$52K
Gross Profit	N/A	$0+100.0%	-$1.9M-470.5%	$505K
R&D Expenses	$35.9M-24.6%	$47.6M-33.3%	$71.4M+247.0%	$20.6M
SG&A Expenses	$22.4M-21.0%	$28.4M-45.3%	$51.8M+324.2%	$12.2M
Operating Income	-$58.3M+23.3%	-$76.0M+39.3%	-$125.1M-287.4%	-$32.3M
Interest Expense	$696K+35.4%	$514K-38.8%	$840K-28.9%	$1.2M
Income Tax	N/A	$0	$0	$0
Net Income	-$56.9M+24.3%	-$75.2M+45.2%	-$137.2M-243.3%	-$40.0M
EPS (Diluted)	$-0.45+25.0%	$-0.60+66.5%	$-1.79	N/A

Metric	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	$50K	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	$7.9M-5.2%	$8.3M-27.0%	$11.4M	N/A	$12.5M+16.9%	$10.7M-7.1%	$11.5M
SG&A Expenses	N/A	$5.5M-9.0%	$6.1M-17.6%	$7.4M	N/A	$7.3M+11.3%	$6.6M-1.9%	$6.7M
Operating Income	N/A	-$13.4M+6.8%	-$14.4M+23.3%	-$18.8M	N/A	-$19.8M-14.8%	-$17.2M+5.2%	-$18.2M
Interest Expense	N/A	$176K+20.5%	$146K-24.0%	$192K	N/A	$54K-48.6%	$105K0.0%	$105K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	-$13.1M+6.0%	-$14.0M+24.1%	-$18.4M	N/A	-$19.3M-11.6%	-$17.3M+5.5%	-$18.3M
EPS (Diluted)	N/A	$-0.10+9.1%	$-0.11+26.7%	$-0.15	N/A	$-0.15-7.1%	$-0.14+6.7%	$-0.15

VAXX Balance Sheet

Metric	FY23	FY22	FY21	FY20
Total Assets	$44.3M-58.4%	$106.4M-36.2%	$166.7M+232.4%	$50.1M
Current Assets	$33.2M-64.6%	$93.9M-39.2%	$154.3M+332.5%	$35.7M
Cash & Equivalents	$4.9M-85.3%	$33.5M-76.9%	$144.9M+365.2%	$31.1M
Inventory	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	$0-100.0%	$26K
Goodwill	N/A	N/A	N/A	N/A
Total Liabilities	$30.9M-30.1%	$44.2M+16.2%	$38.1M-72.3%	$137.5M
Current Liabilities	$17.6M-43.1%	$30.9M+12.5%	$27.5M-30.1%	$39.4M
Long-Term Debt	N/A	N/A	N/A	N/A
Total Equity	$13.4M-78.4%	$62.2M-51.7%	$128.6M+247.2%	-$87.4M
Retained Earnings	-$361.6M-18.7%	-$304.7M-32.8%	-$229.5M-148.6%	-$92.3M

Metric	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22
Total Assets	$44.3M-22.9%	$57.5M-19.5%	$71.4M-16.6%	$85.5M-19.6%	$106.4M-13.5%	$123.0M-10.2%	$137.0M-7.1%	$147.5M
Current Assets	$33.2M-28.3%	$46.4M-22.4%	$59.7M-18.7%	$73.4M-21.8%	$93.9M-13.1%	$108.1M-11.4%	$122.0M-8.5%	$133.3M
Cash & Equivalents	$4.9M-71.7%	$17.4M-53.1%	$37.1M+64.1%	$22.6M-32.5%	$33.5M+77.4%	$18.9M-83.2%	$112.7M-9.7%	$124.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$30.9M-8.5%	$33.8M-7.1%	$36.4M-7.7%	$39.4M-10.9%	$44.2M+3.6%	$42.7M+7.7%	$39.7M+13.7%	$34.9M
Current Liabilities	$17.6M-18.3%	$21.6M-9.3%	$23.8M-10.2%	$26.5M-14.5%	$30.9M-4.6%	$32.4M+10.7%	$29.3M+20.0%	$24.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$13.4M-43.4%	$23.7M-32.3%	$35.0M-24.1%	$46.1M-25.8%	$62.2M-22.5%	$80.3M-17.5%	$97.3M-13.6%	$112.7M
Retained Earnings	-$361.6M-3.3%	-$350.2M-3.9%	-$337.1M-4.3%	-$323.1M-6.0%	-$304.7M-7.2%	-$284.2M-7.3%	-$265.0M-7.0%	-$247.7M

VAXX Cash Flow Statement

Metric	FY23	FY22	FY21	FY20
Operating Cash Flow	-$57.2M-2.3%	-$55.9M+30.9%	-$81.0M-138.8%	-$33.9M
Capital Expenditures	$803K-57.0%	$1.9M+41.6%	$1.3M-10.8%	$1.5M
Free Cash Flow	-$58.0M-0.4%	-$57.8M+29.8%	-$82.3M-132.6%	-$35.4M
Investing Cash Flow	$28.8M+153.0%	-$54.4M-4026.9%	-$1.3M+10.8%	-$1.5M
Financing Cash Flow	-$1.1M-582.6%	-$167K-100.1%	$196.2M0.0%	$196.2M
Dividends Paid	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A

Metric	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22
Operating Cash Flow	-$11.8M+10.2%	-$13.2M-8.4%	-$12.2M+39.4%	-$20.1M-38.5%	-$14.5M-27.0%	-$11.4M-8.2%	-$10.5M+46.0%	-$19.5M
Capital Expenditures	$414K+226.0%	$127K+41.1%	$90K-47.7%	$172K-41.1%	$292K-9.3%	$322K-40.3%	$539K-24.4%	$713K
Free Cash Flow	-$12.3M+7.9%	-$13.3M-8.7%	-$12.2M+39.4%	-$20.2M-36.9%	-$14.8M-26.0%	-$11.7M-5.8%	-$11.1M+45.2%	-$20.2M
Investing Cash Flow	-$407K+93.3%	-$6.1M-122.9%	$26.6M+204.5%	$8.7M-67.9%	$27.2M+133.9%	-$80.3M-14806.9%	-$539K+24.4%	-$713K
Financing Cash Flow	-$313K+17.4%	-$379K-400.8%	$126K+122.0%	-$574K-426.6%	-$109K-39.7%	-$78K-1400.0%	$6K-57.1%	$14K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

VAXX Financial Ratios

Metric	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	-2834.9%-2925.5pp	90.7%
Operating Margin	N/A	N/A	-189507.6%-183711.9pp	-5795.7%
Net Margin	N/A	N/A	-207840.9%-200667.3pp	-7173.6%
Return on Equity	-424.6%-303.6pp	-121.0%-14.3pp	-106.7%	N/A
Return on Assets	-128.5%-57.8pp	-70.7%+11.6pp	-82.3%-2.6pp	-79.7%
Current Ratio	1.89-1.1	3.03-2.6	5.61+4.7	0.91
Debt-to-Equity	2.30+1.6	0.71+0.4	0.30+1.9	-1.57
FCF Margin	N/A	N/A	-124709.1%-118355.9pp	-6353.1%

Metric	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	-34448.0%	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	-34504.0%	N/A
Return on Equity	N/A	-55.5%-15.5pp	-39.9%0.0pp	-39.9%	N/A	-24.0%-6.3pp	-17.7%-1.5pp	-16.2%
Return on Assets	N/A	-22.9%-3.3pp	-19.6%+2.0pp	-21.5%	N/A	-15.7%-3.1pp	-12.6%-0.2pp	-12.4%
Current Ratio	1.89-0.3	2.15-0.4	2.51-0.3	2.77-0.3	3.03-0.3	3.33-0.8	4.17-1.3	5.46
Debt-to-Equity	2.30+0.9	1.42+0.4	1.04+0.2	0.85+0.1	0.71+0.2	0.53+0.1	0.41+0.1	0.31
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	-22152.0%	N/A

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Frequently Asked Questions

Is Vaxxinity, Inc. profitable?

No, Vaxxinity, Inc. (VAXX) reported a net income of -$56.9M in fiscal year 2023.

What is Vaxxinity, Inc.'s EBITDA?

Vaxxinity, Inc. (VAXX) had EBITDA of -$56.1M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization.

What is Vaxxinity, Inc.'s return on equity (ROE)?

Vaxxinity, Inc. (VAXX) has a return on equity of -424.6% for fiscal year 2023, measuring how efficiently the company generates profit from shareholder equity.

What is Vaxxinity, Inc.'s free cash flow?

Vaxxinity, Inc. (VAXX) generated -$58.0M in free cash flow during fiscal year 2023. This represents a -0.4% 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.

What is Vaxxinity, Inc.'s operating cash flow?

Vaxxinity, Inc. (VAXX) generated -$57.2M in operating cash flow during fiscal year 2023, representing cash generated from core business activities.

What are Vaxxinity, Inc.'s total assets?

Vaxxinity, Inc. (VAXX) had $44.3M in total assets as of fiscal year 2023, including both current and long-term assets.

What are Vaxxinity, Inc.'s capital expenditures?

Vaxxinity, Inc. (VAXX) invested $803K in capital expenditures during fiscal year 2023, funding long-term assets and infrastructure.

How much does Vaxxinity, Inc. spend on research and development?

Vaxxinity, Inc. (VAXX) invested $35.9M in research and development during fiscal year 2023.

What is Vaxxinity, Inc.'s current ratio?

Vaxxinity, Inc. (VAXX) had a current ratio of 1.89 as of fiscal year 2023, which is generally considered healthy.

What is Vaxxinity, Inc.'s debt-to-equity ratio?

Vaxxinity, Inc. (VAXX) had a debt-to-equity ratio of 2.30 as of fiscal year 2023, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Vaxxinity, Inc.'s return on assets (ROA)?

Vaxxinity, Inc. (VAXX) had a return on assets of -128.5% for fiscal year 2023, measuring how efficiently the company uses its assets to generate profit.

What is Vaxxinity, Inc.'s cash runway?

Based on fiscal year 2023 data, Vaxxinity, Inc. (VAXX) had $4.9M in cash against an annual operating cash burn of $57.2M. This gives an estimated cash runway of approximately 1 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Vaxxinity, Inc.'s Piotroski F-Score?

Vaxxinity, Inc. (VAXX) has a Piotroski F-Score of 0 out of 9, indicating weak 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Vaxxinity, Inc.'s earnings high quality?

Vaxxinity, Inc. (VAXX) has an earnings quality ratio of 1.01x, considered low quality (accrual-driven). 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.

Can Vaxxinity, Inc. cover its interest payments?

Vaxxinity, Inc. (VAXX) has an interest coverage ratio of -83.7x, 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.

How financially healthy is Vaxxinity, Inc.?

Vaxxinity, Inc. (VAXX) scores 15 out of 100 on our Financial Profile, indicating weak 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.