Moderna, Inc.
Close on Nov 2, 2026Market cap $88.16BP/E –Yield –
Moderna Research and development expenses — Total GAAP by Quarter
Research and development expenses — Total GAAP ($M) ($M)
Moderna Research and development expenses — Total GAAP: $651M in Q2 2026, down 7.0% from a year earlier.
Where the Q2 2026 figure comes from
Source: Form 10-Q (filed 2026-07-31) ↗
Reported in Form 10-Q / 10-K Consolidated Statements of Operations & MD&A.
Quarterly history
Hover a value to see the sentence it was read from; calculated values show their formula
| Period | Ended | Research and development expenses — Total GAAP ($M) ($M) | Year on year | Source |
|---|---|---|---|---|
| Q2 2026 | Jun 30, 2026 | 651 | -7.0% | Form 10-Q (filed 2026-07-31) ↗ |
| Q1 2026 | Mar 31, 2026 | 649 | -24.2% | Form 10-Q (filed 2026-05-01) ↗ |
| Q4 2025 | Dec 31, 2025 | 775 | -30.9% | Form 10-K (filed 2026-02-20) ↗ |
| Q3 2025 | Sep 30, 2025 | 801 | -29.6% | Form 10-Q (filed 2025-11-06) ↗ |
| Q2 2025 | Jun 30, 2025 | 700 | -42.7% | Form 10-Q (filed 2026-07-31) ↗ |
| Q1 2025 | Mar 31, 2025 | 856 | -19.5% | Form 10-Q (filed 2026-05-01) ↗ |
| Q4 2024 | Dec 31, 2024 | 1,122 | -20.2% | Form 10-K (filed 2026-02-20) ↗ |
| Q3 2024 | Sep 30, 2024 | 1,137 | -2.0% | Form 10-Q (filed 2025-11-06) ↗ |
| Q2 2024 | Jun 30, 2024 | 1,221 | +6.4% | Form 10-Q (filed 2025-08-01) ↗ |
| Q1 2024 | Mar 31, 2024 | 1,063 | -6.0% | Form 10-Q (filed 2025-05-01) ↗ |
| Q4 2023 | Dec 31, 2023 | 1,406 | +16.1% | Form 10-K (filed 2026-02-20) ↗ |
| Q3 2023 | Sep 30, 2023 | 1,160 | +41.5% | Form 10-Q (filed 2024-11-07) ↗ |
| Q2 2023 | Jun 30, 2023 | 1,148 | +61.7% | Form 10-Q (filed 2024-08-01) ↗ |
| Q1 2023 | Mar 31, 2023 | 1,131 | +104.2% | Form 10-Q (filed 2024-05-02) ↗ |
| Q4 2022 | Dec 31, 2022 | 1,211 | +86.9% | Form 10-K (filed 2025-02-21) ↗ |
| Q3 2022 | Sep 30, 2022 | 820 | +57.4% | Form 10-Q (filed 2023-11-03) ↗ |
| Q2 2022 | Jun 30, 2022 | 710 | +68.6% | Form 10-Q (filed 2023-08-03) ↗ |
| Q1 2022 | Mar 31, 2022 | 554 | +38.2% | Form 10-Q (filed 2023-05-04) ↗ |
| Q4 2021 | Dec 31, 2021 | 648 | -14.6% | Form 10-K (filed 2024-02-23) ↗ |
| Q3 2021 | Sep 30, 2021 | 521 | +51.5% | Form 10-Q (filed 2022-11-03) ↗ |
| Q2 2021 | Jun 30, 2021 | 421 | +177.0% | Form 10-Q (filed 2022-08-03) ↗ |
| Q1 2021 | Mar 31, 2021 | 401 | +248.7% | Form 10-Q (filed 2022-05-04) ↗ |
| Q4 2020 | Dec 31, 2020 | 759 | +545.4% | Form 10-K (filed 2023-02-24) ↗ |
| Q3 2020 | Sep 30, 2020 | 344 | +187.6% | Form 10-Q (filed 2021-11-04) ↗ |
| Q2 2020 | Jun 30, 2020 | 152 | +18.5% | Form 10-Q (filed 2021-08-05) ↗ |
| Q1 2020 | Mar 31, 2020 | 115 | -11.9% | Form 10-Q (filed 2021-05-06) ↗ |
| Q4 2019 | Dec 31, 2019 | 118 | -21.8% | Form 10-K (filed 2022-02-25) ↗ |
| Q3 2019 | Sep 30, 2019 | 120 | +9.7% | Form 10-Q (filed 2020-10-30) ↗ |
| Q2 2019 | Jun 30, 2019 | 128 | +22.8% | Form 10-Q (filed 2020-08-06) ↗ |
| Q1 2019 | Mar 31, 2019 | 131 | +45.0% | Form 10-Q (filed 2019-05-09) ↗ |
| Q4 2018 | Dec 31, 2018 | 150 | – | Form 10-K (filed 2021-02-26) ↗ |
| Q3 2018 | Sep 30, 2018 | 109 | – | Form 10-Q (filed 2019-11-06) ↗ |
| Q2 2018 | Jun 30, 2018 | 105 | – | Form 10-Q (filed 2019-08-08) ↗ |
| Q1 2018 | Mar 31, 2018 | 90.1 | – | Form 10-Q (filed 2019-05-09) ↗ |
Breakdown
What makes up research and development expenses — Total GAAP
Cite this data
StockData. (2026). Moderna Research and development expenses — Total GAAP ($M), quarterly Q1 2018–Q2 2026 [Data set]. Compiled from Moderna SEC filings and investor materials. https://stockdatahq.com/stocks/mrna/kpis/rd-total
See every metric in the Moderna KPI table. Data updated Nov 3, 2026.