Some people wrongly understood that Novavax reduced total forecast by $100m. No. They didn’t.
Novavax $Novavax(NVAX)$ are still expecting to get $1.4-1.6B into its pocket. As they said in Q1 EC.
CEO John Jacobs explained to CNBC.
The new guidance does not include $100 million in cash that Canada paid during the second quarter – an amount that "would have been revenue" had the parties completed the transaction, he said.
"We're still on track for the revenue, but we'd rather have it in cash," Jacobs told CNBC. "That's a good thing for Novavax."
It means that income from cash transfers and sales revenues stayed at $1.4-1.6B as Q1 guidance but the income of $100m delivered in cash is not considered (accounting wise) as revenue ( just because no doses were physically delivered) but the money is in the pocket. So who cares.
Sales forecast and expenses for the rest of the year has not changed by a single dollar.
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