ModernaMRNAEarnings & Financial Report
Moderna, Inc. is an American pharmaceutical and biotechnology company based in Cambridge, Massachusetts, that focuses on RNA therapeutics, primarily mRNA vaccines. These vaccines use a copy of a molecule called messenger RNA (mRNA) to carry instructions for proteins to produce an immune response. The company's name is derived from the terms "modified", "RNA", and "modern".
MRNA Q3 2025 Key Financial Metrics
Revenue
$1.0B
Gross Profit
$809.0M
Operating Profit
$-260.0M
Net Profit
$-200.0M
Gross Margin
79.6%
Operating Margin
-25.6%
Net Margin
-19.7%
YoY Growth
-45.4%
EPS
$-0.51
Financial Flow
Moderna Q3 2025 Financial Summary
Moderna reported revenue of $1.0B for Q3 2025, with a net profit of $-200.0M (-19.7% margin). Cost of goods sold was $207.0M, operating expenses totaled $1.1B.
Key Financial Metrics
| Total Revenue | $1.0B |
|---|---|
| Net Profit | $-200.0M |
| Gross Margin | 79.6% |
| Operating Margin | -25.6% |
| Report Period | Q3 2025 |
Moderna Annual Revenue by Year
Moderna annual revenue history includes year-by-year totals (for example, 2024 revenue was $3.2B).
| Year | Annual Revenue |
|---|---|
| 2024 | $3.2B |
| 2023 | $6.8B |
| 2022 | $19.3B |
Income Statement
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.81B | $167.0M | $241.0M | $1.86B | $966.0M | $108.0M | $142.0M | $1.02B |
| YoY Growth | -44.7% | -91.0% | -29.9% | 1.7% | -65.6% | -35.3% | -41.1% | -45.4% |
Balance Sheet
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $18.43B | $16.73B | $15.68B | $15.80B | $14.14B | $12.70B | $12.01B | $12.13B |
| Liabilities | $4.57B | $3.91B | $3.97B | $3.88B | $3.24B | $2.64B | $2.61B | $2.81B |
| Equity | $13.85B | $12.82B | $11.71B | $11.93B | $10.90B | $10.07B | $9.40B | $9.33B |
Cash Flow
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $622.0M | $-989.0M | $-1.27B | $-1.57B | $825.0M | $-1.04B | $-919.0M | $-847.0M |
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