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Moderna, Inc.

Moderna, Inc.

NASDAQ•MRNA
CEO: Mr. Stephane Bancel
Sector: Healthcare
Industry: Biotechnology
Listing Date: 2018-12-07
Moderna, Inc., a biotechnology company, discovers, develops, and commercializes messenger RNA therapeutics and vaccines for the treatment of infectious diseases, immuno-oncology, rare diseases, autoimmune, and cardiovascular diseases in the United States, Europe, and internationally. Its respiratory vaccines include COVID-19, influenza, and respiratory syncytial virus, spikevax, and hMPV/PIV3 vaccines; latent vaccines comprise cytomegalovirus, epstein-barr virus, herpes simplex virus, varicella zoster virus, and human immunodeficiency virus vaccines; public health vaccines consists of Zika, Nipah, Mpox vaccines; and infectious diseases vaccines, such as lyme and norovirus vaccines. The company also offers systemic secreted and cell surface therapeutics; cancer vaccines, such as personalized cancer, KRAS, and checkpoint vaccines; intratumoral immuno-oncology products; rare disease intracellular therapeutics; and inhaled pulmonary therapeutics. It has strategic alliances and collaborations with AstraZeneca; Merck & Co., Inc; Vertex Pharmaceuticals Incorporated; Vertex Pharmaceuticals (Europe) Limited; Chiesi Farmaceutici S.p.A.; Metagenomi, Inc.; Carisma Therapeutics, Inc.; CytomX Therapeutics; Defense Advanced Research Projects Agency; Biomedical Advanced Research and Development Authority; Institute for Life Changing Medicines; The Bill & Melinda Gates Foundation; and OpenAI. The company was formerly known as Moderna Therapeutics, Inc. and changed its name to Moderna, Inc. in August 2018. Moderna, Inc. was founded in 2010 and is headquartered in Cambridge, Massachusetts.
Contact Information
200 Technology Square, Cambridge, MA, 02139, United States
617-714-6500
www.modernatx.com
Market Cap
$12.17B
P/E (TTM)
-3.9
40.4
Dividend Yield
--
52W High
$48.92
52W Low
$22.28
52W Range
33%
Rank59Top 76.7%
2.6
F-Score
Modified Piotroski Analysis
Based on 9-year fundamentals
Weak • 2.6 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2024

Financial Dashboard

Q3 2025 Data

Revenue

$1.02B-45.23%
4-Quarter Trend

EPS

-$0.51-1608.88%
4-Quarter Trend

FCF

-$880.00M-48.75%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Product Sales Decline Net product sales $1.17B for nine months, down 46% versus prior year, driven by lower COVID vaccine demand.
Loss Reduction Achieved Net loss $(1.996)B for nine months, representing an 18% improvement due to disciplined operating expense management.
R&D Spending Streamlined Research and development expenses $2.36B year-to-date, decreasing 31% compared to 2024 due to trial wind-downs.
Operating Cash Usage Down Net cash used in operations $(2.803)B for nine months, usage decreased 27% from prior period due to lower net loss.

Risk Factors

COVID Sales Transition Anticipating full year 2025 sales decline as COVID transitions to seasonal vaccine with increased commercial competition.
Ongoing Patent Litigation Facing multiple patent infringement actions globally regarding mRNA platform technology and lipid nanoparticle components.
Manufacturing Cost Volatility Fixed nature of manufacturing costs creates variability in cost of sales percentage relative to fluctuating sales volume.

Outlook

Flu Vaccine Submissions Expected Expecting to complete regulatory submissions for seasonal flu vaccine (mRNA-1010) in US, Canada, EU by January 2026.
Oncology Pipeline Progress Advancing INT in multiple Phase 3 melanoma and NSCLC trials; PA therapeutic reached registrational study enrollment.
New Manufacturing Operational International mRNA manufacturing facilities in Australia and UK became operational in Q3 2025 supporting local supply.

Peer Comparison

Revenue (TTM)

BioMarin Pharmaceutical Inc.BMRN
$3.09B
+12.4%
Exelixis, Inc.EXEL
$2.29B
+9.9%
Moderna, Inc.MRNA
$2.22B
-56.1%

Gross Margin (Latest Quarter)

Ionis Pharmaceuticals, Inc.IONS
98.5%
-0.7pp
Exelixis, Inc.EXEL
96.9%
+0.1pp
Madrigal Pharmaceuticals, Inc.MDGL
95.6%
+1.7pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
VRNA$72.68B-145.1-30.0%42.7%
RVMD$15.57B-15.9-49.2%7.0%
ROIV$15.09B-39.5-8.0%2.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
2.0%
Moderate Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
25%
Cash Flow Needs Attention

Research & Insights

Next earnings:Feb 13, 2026
|
EPS:-$2.79
|
Revenue:-
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 6, 2025|
    Revenue: $1.02B-45.2%
    |
    EPS: $-0.51-1608.9%
    Beat
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 1, 2025|
    Revenue: $142.00M-35.7%
    |
    EPS: $-2.13-36.0%
    Beat
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 1, 2025|
    Revenue: $107.00M-35.9%
    |
    EPS: $-2.52-18.2%
    Beat
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 21, 2025|
    Revenue: $3.20B-53.3%
    |
    EPS: $-9.27+24.9%
    Miss
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 7, 2024|
    Revenue: $1.86B+1.3%
    |
    EPS: $0.03-100.4%
    Beat
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 1, 2024|
    Revenue: $221.00M-35.8%
    |
    EPS: $-3.33-8.0%
    Beat
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 2, 2024|
    Revenue: $167.00M-90.9%
    |
    EPS: $-3.08-1640.0%
    Beat
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 23, 2024|
    Revenue: $6.85B-63.7%
    |
    EPS: $-12.34-158.0%
    Miss