Novavax Sees FY23 Revenue Of $900M- $1.1B Versus Prior Guidance Of $1.3B-$1.5B Versus Consensus Of $1.37B , Sees Q1 FY24 Revenue Of $300M
Portfolio Pulse from Benzinga Newsdesk
Novavax has revised its FY23 revenue guidance to $900M-$1.1B, down from the previous estimate of $1.3B-$1.5B. The company also expects Q1 FY24 revenue of $300M. The updated guidance reflects the full delivery timing and revenue recognition of sales associated with the 2023-2024 vaccination season. The company expects some revenue recognition to extend into Q1 2024 due to a delayed start and longer season in the U.S.
November 09, 2023 | 1:07 pm
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Novavax has lowered its FY23 revenue guidance, which could negatively impact investor sentiment and potentially lead to a short-term decrease in the company's stock price.
Companies often see their stock prices affected by changes in revenue guidance. In this case, Novavax has lowered its FY23 revenue guidance, which could lead to negative investor sentiment and a potential short-term decrease in the company's stock price.
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