Moderna, Inc.
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
$220.83−0.89 (-0.40%)
Close on Nov 2, 2026Market cap $88.16BP/E –Yield –
Moderna Cost of sales — Total: $868M in FY2025, down 40.7% from a year earlier.
Latest, FY2025
868
Period ended Dec 31, 2025
Change on a year earlier
-40.7%
1,464 in FY2024
History
8 years
Since FY2018
Sources
6
Documents cited below
Where the FY2025 figure comes from
Source: Form 10-K (filed 2026-02-20) ↗
Reported in Form 10-Q / 10-K Consolidated Statements of Operations, MD&A & Note 6.
Annual history
Hover a value to see the sentence it was read from; calculated values show their formula
| Period | Ended | Cost of sales — Total ($M) ($M) | Year on year | Source |
|---|---|---|---|---|
| FY2025 | Dec 31, 2025 | 868 | -40.7% | Form 10-K (filed 2026-02-20) ↗ |
| FY2024 | Dec 31, 2024 | 1,464 | -68.8% | Form 10-K (filed 2026-02-20) ↗ |
| FY2023 | Dec 31, 2023 | 4,693 | -13.3% | Form 10-K (filed 2026-02-20) ↗ |
| FY2022 | Dec 31, 2022 | 5,416 | +107.0% | Form 10-K (filed 2025-02-21) ↗ |
| FY2021 | Dec 31, 2021 | 2,617 | +32,612.5% | Form 10-K (filed 2024-02-23) ↗ |
| FY2020 | Dec 31, 2020 | 8 | – | Form 10-K (filed 2023-02-24) ↗ |
| FY2019 | Dec 31, 2019 | 0 | – | Form 10-K (filed 2022-02-25) ↗ |
| FY2018 | Dec 31, 2018 | 0 | – | Form 10-K (filed 2021-02-26) ↗ |
Breakdown
What makes up cost of sales — Total
- Cost of sales as % of net product sales (%)48.0% · FY2025
- Third-party royalties & milestone payments included in cost of sales ($M)88 · FY2025
- Inventory write-downs (excess & expiring shelf-life vaccines/raw materials) ($M)291 · FY2025
- Unutilized manufacturing capacity & CMO wind-down charges ($M)263 · FY2024
- Losses on firm purchase commitments & CMO cancellation fees ($M)24 · FY2025
- Stock-based compensation expense in cost of sales ($M)26 · FY2025
Cite this data
StockData. (2026). Moderna Cost of sales — Total ($M), annual FY2018–FY2025 [Data set]. Compiled from Moderna SEC filings and investor materials. https://stockdatahq.com/stocks/mrna/kpis/cos-total
See every metric in the Moderna KPI table. Data updated Nov 3, 2026.