Evaxion - Public Comps and Valuation Multiples

Evaxion Overview

About Evaxion

Evaxion AS is a techBio company based on its AI platform, AI-Immunology. Evaxion’s proprietary and scalable AI prediction models harness the power of artificial intelligence to decode the human immune system and develop novel immunotherapies for cancer, bacterial diseases, and viral infections. Evaxion has developed a clinical-stage oncology pipeline of novel personalised vaccines and a preclinical infectious disease pipeline in bacterial and viral diseases with high unmet medical needs. The group is committed to transforming patients’ lives by providing innovative and targeted treatment options.

Founded

2008

HQ

Employees

Website

evaxion.ai

Sectors

Drug Development & Therapeutics
Biopharmaceuticals
BioTech

Financials

LTM Revenue $4.6M

Last FY EBITDA -$9.8M

EV

$24.6M

Valuation Multiples

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Evaxion Financials

As of September 2025, Evaxion reported last 12-month revenue of $4.6M.

In the same period, Evaxion achieved -$8.7M in LTM net income.

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Evaxion P&L

In the most recent fiscal year, Evaxion reported revenue of $3.3M and EBITDA of -$9.8M.

Evaxion expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$4.6M	XXX	$3.3M	XXX	XXX	XXX
Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
Gross Margin	n/a	XXX	n/a	XXX	XXX	XXX
EBITDA	n/a	XXX	-$9.8M	XXX	XXX	XXX
EBITDA Margin	n/a	XXX	-293%	XXX	XXX	XXX
EBIT	-$10.6M	XXX	-$14.7M	XXX	XXX	XXX
EBIT Margin	-231%	XXX	-441%	XXX	XXX	XXX
Net Profit	-$8.7M	XXX	-$10.6M	XXX	XXX	XXX
Net Margin	-191%	XXX	-316%	XXX	XXX	XXX
Net Debt	XXX	XXX	$3.1M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Evaxion including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $4.6M. In the most recent fiscal year, Evaxion achieved $3.3M in revenue and -$9.8M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$4.6M	Analyst estimates available to subscribers	$3.3M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	n/a	Analyst estimates available to subscribers	n/a	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	n/a	Analyst estimates available to subscribers	NaN% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	n/a	Analyst estimates available to subscribers	-$9.8M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	n/a	Analyst estimates available to subscribers	-292.6% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	-$10.6M	Analyst estimates available to subscribers	-$14.7M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	-230.9% EBIT margin	Analyst estimates available to subscribers	-440.6% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	-$8.7M	Analyst estimates available to subscribers	-$10.6M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	-190.5% net profit margin	Analyst estimates available to subscribers	-316.0% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$3.1M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Evaxion

This financial data table provides comprehensive performance metrics for Evaxion, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Evaxion generated $4.6M in revenue over the last twelve months.
Net income over the last twelve months reached -$8.7M.

Fiscal Year Performance

In the most recent fiscal year, Evaxion reported $3.3M in total revenue.
Fiscal year EBITDA was -$9.8M.
The company maintained a gross profit margin of NaN% in the most recent fiscal year.
EBITDA margin for the fiscal year was -292.6%.
Net profit margin reached -316.0% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Evaxion. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Evaxion Stock Performance

Evaxion has current market cap of $28.0M, and EV of $24.6M.

Market Cap Evolution

Evaxion Stock Data

As of October 2, 2025, Evaxion's stock price is $4.

See Evaxion trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$24.6M	$28.0M	XXX	XXX	XXX	XXX	$-0.89

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Evaxion Valuation Multiples

Evaxion's trades at 7.4x EV/Revenue multiple, and -2.5x EV/EBITDA.

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Evaxion Financial Valuation Multiples

As of October 2, 2025, Evaxion has market cap of $28.0M and EV of $24.6M.

Equity research analysts estimate Evaxion's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Evaxion has a P/E ratio of -3.2x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$28.0M	XXX	$28.0M	XXX	XXX	XXX
EV (current)	$24.6M	XXX	$24.6M	XXX	XXX	XXX
EV/Revenue	5.4x	XXX	7.4x	XXX	XXX	XXX
EV/EBITDA	n/a	XXX	-2.5x	XXX	XXX	XXX
EV/EBIT	-2.3x	XXX	-1.7x	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	-3.2x	XXX	-2.7x	XXX	XXX	XXX
EV/FCF	n/a	XXX	-1.9x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Evaxion Margins & Growth Rates

Evaxion's last 12 month revenue growth is 13%

Evaxion's revenue per employee in the last FY averaged $0.1M, while opex per employee averaged $0.4M for the same period.

Evaxion's rule of 40 is -29306% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Evaxion's rule of X is unknown (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Evaxion Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	13%	XXX	25%	XXX	XXX	XXX
EBITDA Margin	n/a	XXX	-293%	XXX	XXX	XXX
EBITDA Growth	n/a	XXX	n/a	XXX	XXX	XXX
Rule of 40	-29306%	XXX	-279%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	n/a	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.4M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	313%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	541%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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