Moderna, Inc. (MRNA) Financial Statements
Industry: Biological Products, (No Diagnostic Substances)
In fiscal 2025, Moderna reported revenue of $1.94B, down 39.9% from $3.24B the year before. Net income was -$2.82B (a -145.2% net margin), or -$7.26 per diluted share. Gross margin was 55.3% and operating margin was -158.1%. Operating activities generated -$1.87B of cash, leaving -$2.06B of free cash flow. At fiscal year end, Moderna held $12.34B in total assets against $3.69B in total liabilities, including $2.60B of cash and equivalents.
Open the full interactive Moderna financials → Quarterly statements, key ratios, valuation history and price charts.
Moderna Key Stats
| Share Price | $216.25 |
|---|---|
| Market Cap | $86.07B |
| Revenue YoY Growth | -39.9% |
| 52-Week Range | $22.36 – $225.00 |
| Shares Outstanding | 398.0 million (basic, 2026 Q2) |
Moderna Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $803.4M | $18.47B | $19.26B | $6.85B | $3.24B | $1.94B |
| Cost of Goods Sold | $7.9M | $2.62B | $5.42B | $4.69B | $1.46B | $868.0M |
| Gross Profit | $795.5M | $15.85B | $13.85B | $2.15B | $1.77B | $1.08B |
| Operating Income | -$763.1M | $13.30B | $9.42B | -$4.24B | -$3.94B | -$3.07B |
| Pre-Tax Income | -$744.5M | $13.29B | $9.57B | -$3.94B | -$3.61B | -$2.77B |
| Income Tax | $2.6M | $1.08B | $1.21B | $772.0M | -$46.0M | $54.0M |
| Net Income | -$747.1M | $12.20B | $8.36B | -$4.71B | -$3.56B | -$2.82B |
| Diluted EPS | -$1.96 | $28.29 | $20.12 | -$12.33 | -$9.28 | -$7.26 |
Moderna Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $1.02B | $678.0M | $389.0M | $145.0M |
| Net Income | -$200.0M | -$826.0M | -$1.34B | -$782.0M |
| Diluted EPS | -$0.51 | -$2.12 | -$3.40 | -$1.97 |
Moderna Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.62B | $6.85B | $3.21B | $2.91B | $1.93B | $2.60B |
| Current Assets | $6.30B | $16.07B | $13.43B | $10.32B | $8.10B | $6.54B |
| Total Assets | $7.34B | $24.67B | $25.86B | $18.43B | $14.14B | $12.34B |
| Current Liabilities | $4.39B | $9.13B | $4.92B | $3.02B | $2.21B | $1.99B |
| Total Long-Term Debt | — | — | — | — | — | $590.0M |
| Total Liabilities | $4.78B | $10.52B | $6.74B | $4.57B | $3.24B | $3.69B |
| Shareholders' Equity | $2.56B | $14.14B | $19.12B | $13.85B | $10.90B | $8.65B |
Moderna Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $2.03B | $13.62B | $4.98B | -$3.12B | -$3.00B | -$1.87B |
| Cash From Investing | -$1.67B | -$8.52B | -$5.18B | $4.21B | $1.95B | $1.95B |
| Cash From Financing | $2.03B | -$873.0M | -$3.45B | -$1.38B | $56.0M | $593.0M |
| Free Cash Flow | $1.96B | $13.34B | $4.58B | -$3.83B | -$4.05B | -$2.06B |
Figures from Moderna's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Moderna financials page for every line item.
Moderna Company Profile
| Ticker | MRNA |
|---|---|
| Exchange | Nasdaq |
| Industry | Biological Products, (No Diagnostic Substances) |
| Headquarters | Cambridge, Massachusetts |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001682852 |
Frequently Asked Questions
What was Moderna's revenue in fiscal 2025?
Moderna (MRNA) reported revenue of $1.94B for fiscal 2025.
What is Moderna's annual revenue history?
Moderna's annual revenue by fiscal year: 2020: $803.4M; 2021: $18.47B; 2022: $19.26B; 2023: $6.85B; 2024: $3.24B; 2025: $1.94B.
What was Moderna's net income in fiscal 2025?
Moderna reported net income of -$2.82B for fiscal 2025.
What was Moderna's earnings per share (EPS) in fiscal 2025?
Moderna's diluted EPS was -$7.26 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Moderna generate in fiscal 2025?
Moderna generated -$2.06B of free cash flow in fiscal 2025.
What was Moderna's revenue last quarter?
In its most recent reported quarter (2026 Q2), Moderna reported revenue of $145.0M.
How much debt does Moderna have?
Moderna reported $590.0M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Moderna are outstanding?
Moderna reported a weighted average of 398.0 million basic shares outstanding in 2026 Q2.
What is Moderna's market cap?
Based on its latest closing price, Moderna (MRNA) has a market capitalization of about $86.07B.
When does Moderna's fiscal year end?
Moderna's fiscal year end, as registered with the SEC, is December 31.
Where is Moderna headquartered?
Moderna lists its business address in Cambridge, Massachusetts in its SEC filings.