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Side-by-side financial comparison of GRID DYNAMICS HOLDINGS, INC. (GDYN) and NOVAVAX INC (NVAX). Click either name above to swap in a different company.
NOVAVAX INC is the larger business by last-quarter revenue ($147.3M vs $104.1M, roughly 1.4× GRID DYNAMICS HOLDINGS, INC.). NOVAVAX INC runs the higher net margin — 11.9% vs -1.4%, a 13.3% gap on every dollar of revenue. On growth, NOVAVAX INC posted the faster year-over-year revenue change (66.8% vs 3.7%). Over the past eight quarters, NOVAVAX INC's revenue compounded faster (25.3% CAGR vs 12.0%).
Escape Dynamics, Inc. was a Colorado-based technology company that operated 2010–2015 focused on bringing to market single-stage-to-orbit reusable electromagnetically powered spaceplanes.
Novavax, Inc., based in Gaithersburg, Maryland, develops vaccines to counter infectious diseases. The company developed the Novavax COVID-19 vaccine, now commercialized by Sanofi. The company also develops vaccines for influenza, respiratory syncytial virus (RSV), avian flu, shingles, Clostridioides difficile, and malaria.
GDYN vs NVAX — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $104.1M | $147.3M |
| Net Profit | $-1.5M | $17.5M |
| Gross Margin | 34.8% | 85.0% |
| Operating Margin | 61.7% | 9.7% |
| Net Margin | -1.4% | 11.9% |
| Revenue YoY | 3.7% | 66.8% |
| Net Profit YoY | -150.6% | 121.6% |
| EPS (diluted) | $-0.02 | $0.28 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $104.1M | — | ||
| Q4 25 | $106.2M | $147.3M | ||
| Q3 25 | $104.2M | $70.4M | ||
| Q2 25 | $101.1M | $239.2M | ||
| Q1 25 | $100.4M | $666.5M | ||
| Q4 24 | $100.3M | $88.3M | ||
| Q3 24 | $87.4M | $84.5M | ||
| Q2 24 | $83.0M | $415.5M |
| Q1 26 | $-1.5M | — | ||
| Q4 25 | $306.0K | $17.5M | ||
| Q3 25 | $1.2M | $-202.4M | ||
| Q2 25 | $5.3M | $106.5M | ||
| Q1 25 | $2.9M | $518.6M | ||
| Q4 24 | $4.5M | — | ||
| Q3 24 | $4.3M | $-121.3M | ||
| Q2 24 | $-817.0K | $162.4M |
| Q1 26 | 34.8% | — | ||
| Q4 25 | 34.0% | 85.0% | ||
| Q3 25 | 33.3% | 69.5% | ||
| Q2 25 | 34.1% | 93.6% | ||
| Q1 25 | 36.8% | 97.9% | ||
| Q4 24 | 36.9% | 58.5% | ||
| Q3 24 | 37.4% | 28.3% | ||
| Q2 24 | 35.6% | 88.9% |
| Q1 26 | 61.7% | — | ||
| Q4 25 | 0.5% | 9.7% | ||
| Q3 25 | -0.2% | -252.7% | ||
| Q2 25 | -0.1% | 42.2% | ||
| Q1 25 | -2.0% | 77.4% | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 2.4% | -158.6% | ||
| Q2 24 | 0.0% | 38.7% |
| Q1 26 | -1.4% | — | ||
| Q4 25 | 0.3% | 11.9% | ||
| Q3 25 | 1.1% | -287.3% | ||
| Q2 25 | 5.2% | 44.5% | ||
| Q1 25 | 2.9% | 77.8% | ||
| Q4 24 | 4.5% | — | ||
| Q3 24 | 4.9% | -143.5% | ||
| Q2 24 | -1.0% | 39.1% |
| Q1 26 | $-0.02 | — | ||
| Q4 25 | $0.01 | $0.28 | ||
| Q3 25 | $0.01 | $-1.25 | ||
| Q2 25 | $0.06 | $0.62 | ||
| Q1 25 | $0.03 | $2.93 | ||
| Q4 24 | $0.06 | — | ||
| Q3 24 | $0.05 | $-0.76 | ||
| Q2 24 | $-0.01 | $0.99 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $327.5M | $735.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $530.1M | $-127.8M |
| Total Assets | $605.0M | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $327.5M | — | ||
| Q4 25 | $342.1M | $735.1M | ||
| Q3 25 | $338.6M | $762.9M | ||
| Q2 25 | $336.8M | $612.3M | ||
| Q1 25 | $325.5M | $731.5M | ||
| Q4 24 | $334.7M | $923.1M | ||
| Q3 24 | $231.3M | $909.5M | ||
| Q2 24 | $256.0M | $1.0B |
| Q1 26 | $530.1M | — | ||
| Q4 25 | $542.1M | $-127.8M | ||
| Q3 25 | $537.7M | $-156.7M | ||
| Q2 25 | $532.2M | $37.6M | ||
| Q1 25 | $517.4M | $-75.6M | ||
| Q4 24 | $517.8M | $-623.8M | ||
| Q3 24 | $400.2M | $-526.4M | ||
| Q2 24 | $388.4M | $-431.7M |
| Q1 26 | $605.0M | — | ||
| Q4 25 | $612.9M | $1.2B | ||
| Q3 25 | $613.2M | $1.2B | ||
| Q2 25 | $608.9M | $1.3B | ||
| Q1 25 | $590.9M | $1.3B | ||
| Q4 24 | $592.2M | $1.6B | ||
| Q3 24 | $477.3M | $1.7B | ||
| Q2 24 | $443.6M | $1.8B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $-39.5M |
| Free Cash FlowOCF − Capex | — | $-41.6M |
| FCF MarginFCF / Revenue | — | -28.2% |
| Capex IntensityCapex / Revenue | — | 1.4% |
| Cash ConversionOCF / Net Profit | — | -2.25× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-250.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $9.9M | $-39.5M | ||
| Q3 25 | $7.0M | $107.8M | ||
| Q2 25 | $14.4M | $-127.5M | ||
| Q1 25 | $9.4M | $-185.5M | ||
| Q4 24 | $7.1M | $-87.3M | ||
| Q3 24 | $9.2M | $-144.8M | ||
| Q2 24 | $10.7M | $314.3M |
| Q1 26 | — | — | ||
| Q4 25 | $6.1M | $-41.6M | ||
| Q3 25 | $2.9M | $105.8M | ||
| Q2 25 | $10.2M | $-127.7M | ||
| Q1 25 | $6.0M | $-186.7M | ||
| Q4 24 | $4.4M | $-100.3M | ||
| Q3 24 | $5.9M | $-146.2M | ||
| Q2 24 | $8.0M | $311.4M |
| Q1 26 | — | — | ||
| Q4 25 | 5.7% | -28.2% | ||
| Q3 25 | 2.8% | 150.2% | ||
| Q2 25 | 10.1% | -53.4% | ||
| Q1 25 | 6.0% | -28.0% | ||
| Q4 24 | 4.4% | -113.6% | ||
| Q3 24 | 6.8% | -173.0% | ||
| Q2 24 | 9.7% | 74.9% |
| Q1 26 | — | — | ||
| Q4 25 | 3.6% | 1.4% | ||
| Q3 25 | 3.9% | 2.9% | ||
| Q2 25 | 4.1% | 0.1% | ||
| Q1 25 | 3.3% | 0.2% | ||
| Q4 24 | 2.6% | 14.8% | ||
| Q3 24 | 3.7% | 1.6% | ||
| Q2 24 | 3.2% | 0.7% |
| Q1 26 | — | — | ||
| Q4 25 | 32.34× | -2.25× | ||
| Q3 25 | 5.92× | — | ||
| Q2 25 | 2.73× | -1.20× | ||
| Q1 25 | 3.21× | -0.36× | ||
| Q4 24 | 1.56× | — | ||
| Q3 24 | 2.15× | — | ||
| Q2 24 | — | 1.94× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GDYN
Segment breakdown not available.
NVAX
| Licensing Royalties And Other | $107.9M | 73% |
| Products | $39.2M | 27% |
