Moderna Q4 2025: revenue $678 million, full-year revenue $1.94 billion, 2026 growth target kept
Moderna reported fourth-quarter 2025 revenue of $678 million, down 30% from a year earlier, as COVID-19 vaccine sales fell. Full-year revenue dropped 40% to $1.94 billion and the net loss narrowed to $2.8 billion, helped by lower R&D and SG&A. Management kept its 2026 plan for up to 10% revenue growth, with year-end 2026 cash guided to $5.5 to $6.0 billion before any further credit facility draw.
- Q4 2025 revenue: $678 million (Q4 2024: $966 million); GAAP EPS $(2.11)
- Full-year 2025 revenue: $1,944 million, down 40% from $3,236 million
- Full-year 2025 GAAP net loss: $(2,822) million, EPS $(7.26)
- 2026 guidance: revenue up to 10% growth, R&D about $3.0 billion, SG&A about $1.0 billion
- Year-end 2026 cash guidance: $5.5 to $6.0 billion, excluding further credit facility draws
Source
Moderna press release (SEC Form 8-K, Exhibit 99.1)Feb 13, 2026
SEC filing 8-K · accession 0001682852-26-000015 · sec.gov ↗