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Moderna, Inc. (MRNA) stock

MRNANasdaqBiological Products, (No Diagnostic Substances)Fiscal year ends December 31
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 31, 2026Score 5/30567% above fair value
$221.72−1.04 (-0.47%)

Close on Oct 30, 2026Market cap $88.52BP/E –Yield –

Earnings

Moderna's quarterly results as reported in its earnings releases, with the company's own outlook. Hover a number to see the sentence it came from.

Next report
Nov 5, 2026
Q3 FY2026 · estimated, before the open
Revenue, Q2 FY2026
$145.00M
+2.1% on a year earlier
EPS, Q2 FY2026
-$1.97
-$2.13 a year earlier
Latest guidance
Raised
Jul 31, 2026 · 6 items

Quarterly results

Revenue and earnings per share from each of Moderna's earnings releases, newest first

QuarterReportedRevenueYoYEPSSource
Q3 FY2026ended Sep 30, 2026Nov 5, 2026Expected––––
Q2 FY2026ended Jun 30, 2026Jul 31, 2026before the open$145.00M+2.1%-$1.97Release
Q1 FY2026ended Mar 31, 2026May 1, 2026before the open$389.00M+260.2%-$3.40Release
Q4 FY2025ended Dec 31, 2025Feb 13, 2026before the open$678.00M-32.2%-$2.11Release
Q3 FY2025ended Sep 30, 2025Nov 6, 2025before the open$1.00B-47.4%-$0.51Release
Q2 FY2025ended Jun 30, 2025Aug 1, 2025before the open$142.00M-41.1%-$2.13Release
Q1 FY2025ended Mar 31, 2025May 1, 2025before the open$108.00M-35.3%-$2.52Release
Q4 FY2024ended Dec 31, 2024Feb 14, 2025before the open$1.00B-64.3%-$2.91Release
Q3 FY2024ended Sep 30, 2024Nov 7, 2024before the open$1.90B+5.6%$0.03Release
Q2 FY2024ended Jun 30, 2024Aug 1, 2024before the open$241.00M-29.9%-$3.33Release
Q1 FY2024ended Mar 31, 2024May 2, 2024before the open$167.00M-91.2%-$3.07Release
Q4 FY2023ended Dec 31, 2023Feb 22, 2024before the open$2.80B-45.1%$0.55Release

Figures as first announced; later restatements appear under Financials. Expected dates are estimated from the company's past reporting pattern.

Current guidance

Moderna's latest outlook for periods it has not reported yet, compared with what it said before

MetricPeriodGuidanceBeforeChangeGiven
RevenueFY2026+10%–NewFeb 13, 2026
revenue growthFY2026+10%+10%ReaffirmedJul 31, 2026
Capital expendituresFY2026$200.00M – $300.00M$200.00M – $300.00MReaffirmedJul 31, 2026
Capital expendituresFY2026$200.00M – $300.00M–NewFeb 13, 2026
Cost of salesFY2026$1.70B$1.80BLoweredJul 31, 2026
Cost of salesFY2026$900.00M–RaisedFeb 13, 2026
estimated GAAP operating costsGAAPFY2026$5.40B – $5.70B–NewMay 1, 2025
GAAP operating expensesGAAPFY2026$4.90B–NewJan 12, 2026
potential cash cost savingsFY2026$500.00M–NewJan 13, 2025
Research and development expensesFY2026$2.90B$3.00BRaisedJul 31, 2026
Research and development expensesFY2026$3.00B–RaisedFeb 13, 2026
Selling, general and administrative expensesFY2026$1.00B$1.00BLoweredJul 31, 2026
Selling, general and administrative expensesFY2026$1.00B–LoweredFeb 13, 2026
Year-end cash and investmentsFY2026$4.70B – $5.20B$4.50B – $5.00BRaisedJul 31, 2026
Year-end cash and investmentsFY2026$5.50B – $6.00B–RaisedFeb 13, 2026
annual salesFY2027$8.00B – $15.00B–NewMay 4, 2023
GAAP operating cost estimateGAAPFY2027$4.70B – $5.00B–NewMay 1, 2025
GAAP operating expensesGAAPFY2027$4.20B – $4.60B–NewJan 12, 2026

Guidance vs results

The last range Moderna gave before each report, against the figure it then reported. Full years add up the four quarters.

PeriodMetricGuidanceActualResult
FY2025Revenue$1.90B$1.93BΣ4QAbove range
Q2 FY2023Revenue$200.00M – $300.00M$344.00MAbove range

Guidance history

Every forecast Moderna put in an earnings release, newest first

GivenMetricPeriodGuidanceChange
Jul 31, 2026Capital expendituresFY2026$200.00M – $300.00MReaffirmed
Jul 31, 2026Cost of salesFY2026$1.70BLowered
Jul 31, 2026Research and development expensesFY2026$2.90BRaised
Jul 31, 2026Selling, general and administrative expensesFY2026$1.00BLowered
Jul 31, 2026Year-end cash and investmentsFY2026$4.70B – $5.20BRaised
Jul 31, 2026revenue growthFY2026+10%Reaffirmed
May 1, 2026Capital expendituresFY2026$200.00M – $300.00MNew
May 1, 2026Cost of salesFY2026$1.80BNew
May 1, 2026Research and development expensesFY2026$3.00BRaised
May 1, 2026Selling, general and administrative expensesFY2026$1.00BLowered
May 1, 2026Year-end cash and investmentsFY2026$4.50B – $5.00BRaised
May 1, 2026revenue growthFY2026+10%Reaffirmed
Feb 13, 2026Capital expendituresFY2026$200.00M – $300.00MNew
Feb 13, 2026Cost of salesFY2026$900.00MRaised
Feb 13, 2026Research and development expensesFY2026$3.00BRaised
Feb 13, 2026Selling, general and administrative expensesFY2026$1.00BLowered
Feb 13, 2026Year-end cash and investmentsFY2026$5.50B – $6.00BRaised
Feb 13, 2026RevenueFY2026+10%New
Jan 12, 2026expected GAAP operating expensesFY2025$5.00B – $5.20BLowered
Jan 12, 2026GAAP operating expensesFY2026$4.90BNew

Read from the company's earnings releases; each figure links to its sentence on hover. “Raised” and “Lowered” compare with the previous range for the same metric and period.

Press releases

Releases Moderna filed with the SEC as exhibits to Form 8-K or 6-K

  1. Moderna Adds Chief Operating Officer Role as Company Expands into Oncology
    Update
  2. Moderna Announces Proposed Private Placement of $2.0 Billion of Convertible Senior Notes
    News
  3. Moderna Announces Pricing of Upsized $2.6 Billion Offering of Convertible Senior Notes
    News
  4. Moderna Reports Second Quarter 2026 Financial Results and Provides Business Updates
    Results
  5. Moderna Appoints Michael McDonnell to Board of Directors
    Update
  6. Moderna Reports First Quarter 2026 Financial Results and Provides Business Updates
    Results
  7. Moderna Reports Fourth Quarter and Fiscal Year 2025 Financial Results and Provides Business Updates
    Results
  8. Moderna Receives Refusal-to-File Letter from the U.S. Food and Drug Administration for Its Investigational Seasonal Influenza Vaccine, mRNA-1010
    Update
  9. Moderna Provides Business and Pipeline Updates at 44th Annual J.P. Morgan Healthcare Conference
    Results
  10. 2025: A Year of Commercial Progress, Pipeline Momentum and Financial Discipline
    Update
  11. Moderna Analyst Day Highlights Pipeline Progress and Business Strategy Updates
    Update
  12. Moderna Reports Third Quarter 2025 Financial Results and Provides Business Updates
    Results
  13. Moderna Reports Second Quarter 2025 Financial Results and Provides Business Updates
    Results
  14. Moderna Reports First Quarter 2025 Financial Results and Provides Business Updates
    Results
  15. Moderna Reports Fourth Quarter and Fiscal Year 2024 Financial Results and Provides Business Updates
    Results