MRNA Q3 2025

Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025

Earnings

Moderna delivered a notably stronger-than-expected third quarter, with the biotech posting a loss of $0.51 per share against a consensus estimate of -$2.18, a 76.60% beat, as disciplined cost management and a solid early start to the respiratory viru… Read more Moderna delivered a notably stronger-than-expected third quarter, with the biotech posting a loss of $0.51 per share against a consensus estimate of -$2.18, a 76.60% beat, as disciplined cost management and a solid early start to the respiratory virus season combined to lift results well above the bar Wall Street had set. Revenue came in at $1.02 billion, beating the $869.89 million consensus by 16.80%, though the figure still represents a 45.2% decline year-over-year as the company continues navigating a post-pandemic reset in COVID vaccination demand. The primary engine was $971 million in COVID vaccine sales, with the U.S. Accounting for $781 million of that total. Cost of sales fell sharply to just 21% of net product sales, down from 28% a year ago, underscoring the cost discipline driving the beat. Looking ahead, Moderna narrowed its full-year 2025 revenue guidance to $1.60–$2.00 billion while raising its year-end cash projection to $6.50–$7.00 billion, bolstered by a recently secured $1.5 billion credit facility as the company targets cash breakeven by 2028.