Valneva Reports Widening Losses Despite Revenue Growth

Investing.com – French vaccine manufacturer Valneva announced on Wednesday that despite a slight increase in revenue, the company’s net loss for 2025 has widened.

The company reported a net loss of €115.2 million for 2025, significantly worse than the previous year. The increased loss is due to the absence of one-time gains that benefited performance in 2024.

Revenue in 2025 grew modestly, mainly driven by increased sales of the company’s own vaccines. Sales of Japanese encephalitis and chikungunya vaccines increased during this period, offsetting declines in third-party product sales.

Valneva reported an adjusted full-year EBITDA of negative €59 million.

Gross profit margin in 2025 was under pressure due to rising manufacturing costs, batch failures, and inventory write-downs.

R&D expenses increased during the year, mainly driven by the company’s Shigella vaccine project and post-marketing obligations related to the chikungunya vaccine.

For 2026, Valneva reaffirmed its revenue guidance, expecting total revenue between €155 million and €170 million. The company expects product sales to be between €145 million and €160 million.

Valneva stated that operating cash consumption is expected to further decrease in 2026. The company also anticipates releasing key clinical trial results within the year.

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