Vaxcyte, Inc. (PCVX) Earnings
Vaxcyte, Inc. is expected to report next earnings on August 5, 2026 (in NaN days), with a consensus EPS estimate of $-1.98. PCVX has beaten EPS estimates in 2 of its last 12 reported quarters (average surprise -21.2% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $-1.77 | $-2.30 | -29.7% | — | — |
| Feb 24, 2026 | $-1.46 | $-1.80 | -23.3% | — | — |
| Nov 4, 2025 | $-1.27 | $-1.56 | -22.8% | — | — |
| Aug 6, 2025 | $-1.12 | $-1.22 | -8.9% | — | — |
| May 7, 2025 | $-1.02 | $-1.04 | -2.0% | — | — |
| Feb 27, 2024 | $-0.90 | $-1.82 | -102.2% | $14M | — |
| Feb 27, 2023 | $-0.84 | $-0.73 | +13.1% | — | — |
| Feb 28, 2022 | $-0.46 | $-0.54 | -17.4% | — | — |
| Nov 10, 2021 | $-0.47 | $-0.51 | -8.5% | — | — |
| Aug 11, 2021 | $-0.46 | $-0.46 | +0.0% | — | — |
| Nov 12, 2020 | $-0.42 | $-0.41 | +2.4% | — | — |
| Aug 12, 2020 | $-1.27 | $-1.72 | -35.4% | — | — |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q4 FY2025 · February 24, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Grant Pickering discussed progress in the pneumococcal conjugate vaccine (PCV) franchise, including accelerating growth in the adult PCV market, results from Phase II studies, and updates on clinical trials like OPUS-1, -2, -3. Jim Wassil provided details on the VAX-31 adult Phase III program, infant PCV programs, and the resumption of development for VAX-A1. Andrew Guggenhime talked about financial position, public affairs and policy engagement, and expected increases in expenses in 2026.
Guidance
Andrew Guggenhime mentioned that in 2026, total expenses, particularly in R&D, are expected to increase meaningfully due to manufacturing spend for commercial readiness and higher clinical spend. Capitalized costs are expected to trend down in 2026. Grant Pickering highlighted the catalyst-rich time ahead with multiple clinical readouts starting later this year and into 2027.
Analyst Q&A
Q: Two from Roger Song with Jefferies about OPUS-1 powering and manufacturing consistency study.
A: Grant Pickering answered on OPUS-1 powering and manufacturing consistency.
Q: Jonathan Miller with Evercore on catch-up rec for adult market and dose response in infant study.
A: Grant Pickering responded.
Q: Erik Lavington with Mizuho on Group A Strep development.
A: Grant Pickering and Jim Wassil answered.
Q: Evan Wang on for Seamus Fernandez on Group A Strep and VAX-31 pre-commercialization and post-marketing studies.
A: Grant Pickering and Andrew Guggenhime answered.
Q: Carter Gould with Cantor on OPUS-1 serotype 3 comparisons.
A: Grant Pickering answered.
Q: Dina Ramadane on for Jason Gerberry on OPUS-1 data scenarios and VAX-XL.
A: Grant Pickering answered.
Q: Tara Bancroft with TD Cowen on OPUS-2 and -3 and their impact.
A: Grant Pickering answered.
Q: Asad Haider with Goldman Sachs on infant program data announcement and PCV competitive landscape.
A: Grant Pickering and Andrew Guggenhime answered.
Q: Thomas Shrader with BTIG on OPUS-3 and Merck's equivalent trial.
A: Grant Pickering and Jim Wassil answered.
Q: Joseph Stringer with Needham & Company on FDA safety database requirement.
A: Grant Pickering and James Wassil answered.
Q: Edward calling in for David Risinger on PCV uptake for 50+ age group.
A: Grant Pickering and Mike Mullette answered