Moderna's transition from pandemic-driven demand to a seasonal commercial market has resulted in a severe revenue contraction, with 2026Q2 revenue of $145M down 85% from 2024Q3's $1.9B.
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Revenue has collapsed from $1.9B in 2024Q3 to $145M in 2026Q2, with gross margin deteriorating to 35.9% and net losses of -$782M in the latest quarter.
Moderna is expected to launch over ten products by 2035, with a focus on respiratory vaccines and immuno-oncology, driving a Revenue CAGR of over +15% from 2026-2035.
Moderna specializes in mRNA therapeutics, leveraging its proprietary technology platform to develop innovative medicines, including vaccines and oncology treatments.
Moderna is making progress in its personalized cancer vaccine program, including late-stage data and collaborations with Merck, positioning it as a leader in immuno-oncology.
Trailing total returns as of 11/7/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
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Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Nov 6, 2026 | $0.38+134.5% vs -$1.10 | $1.3B+47.5% vs $890M |
Q3 2026 Jul 31, 2026 | -$1.97+3.0% vs -$2.03 | $145M+40.9% vs $103M |
Q2 2026 May 1, 2026 | -$3.40+23.6% vs -$4.45 | $389M+64.6% vs $236M |
Q1 2026 Feb 13, 2026 | -$2.11+16.9% vs -$2.54 | $678M+6.7% vs $635M |
Moderna stock has surged as much as 10% in Friday's trading session, reaching a fresh 52-week high after delivering much stronger-than-expected Q3 results.
Moderna, Inc. ( MRNA ) Q3 2026 Earnings Call November 6, 2026 8:00 AM EST Company Participants Lavina Talukdar - Senior VP & Head of Investor Relations Stéphane Bancel - CEO & Director James Mock - Chief Financial Officer Stephen Hoge - President David Berman - Chief Development Officer Conference Call Participants Salveen Richter - Goldman Sachs Group, Inc., Research Division Terence Flynn - Morgan Stanley, Research Division Eliana Merle - Barclays Bank PLC, Research Division Edward Tenthoff - Piper Sandler & Co., Research Division Alec Stranahan - BofA Securities, Research Division Myles Minter - William Blair & Company L.L.C., Research Division Tyler Van Buren - TD Cowen, Research Division Lin Tsai - Jefferies LLC, Research Division Michael Yee - UBS Investment Bank, Research Division Courtney Breen - Bernstein Institutional Services LLC, Research Division Alexandria Hammond - Wolfe Research, LLC Jessica Fye - JPMorgan Chase & Co, Research Division Luca Issi - RBC Capital Markets, Research Division Presentation Operator Good day, and thank you for standing by.
Moderna's Q3 earnings beat estimates on strong COVID-19 vaccine sales, returning to profitability and boosting its 2026 revenue growth outlook.
GSK, Moderna settle patent dispute over Moderna COVID, RSV shots
Benchmark MRNA against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Moderna, Inc. (MRNA)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $254.19 | $100.86B | -39.19 | -39.23% | -110.46% | -37.62% | — | |
| $87.51 | $21.98B | -13.43 | 0.2% | -61.28% | -8.06% | — | |
| $10.78 | $1.77B | -23.17 | 64.69% | -18.64% | — | — | |
| $29.39 | $167.51B | 41.91 | -1.65% | 6.34% | 4.58% | 5.85% | |
| $276.22 | $664.92B | 42.02 | 6.05% | 16.2% | 19.55% | 1.85% | |
| $186.43 | $290.83B | 26.47 | 8.63% | 17.68% | 22.18% | 1.71% |
Moderna, Inc. (MRNA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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Moderna, Inc. (MRNA) SEC filings — annual & quarterly reports (10-K, 10-Q)
Jul 31, 2026·SEC
Jul 8, 2026·SEC
May 11, 2026·SEC
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Moderna, Inc. (MRNA) stock FAQ — growth, dividends, profitability & financials explained
Moderna, Inc. (MRNA) reported $2.52B in revenue over the trailing twelve months. Revenue was $1.94B in fiscal year 2025. That is 1693% more than the $108.4M of fiscal year 2016.
Moderna, Inc. (MRNA) grew revenue by 13.7% over the trailing twelve months, compared with the twelve months before.
No. Moderna, Inc. (MRNA) reported a net loss of $2.79B over the trailing twelve months.
Moderna, Inc. (MRNA) had a return on equity (ROE) of -37.6% over the trailing twelve months. A negative ROE means the company lost money over the period.
Moderna, Inc. (MRNA) had negative free cash flow of $1.95B over the trailing twelve months.
