The Filings Report

Moderna

MRNANasdaqCIK 1682852Healthcare / Biotechnologyfiscal year ends December38 quarters since 2017

Revenue, Q2 FY2026
$145M
+2.1% on Q2 FY2025
Net income
−$782M
+5.2% on Q2 FY2025
Free cash flow
−$563M
+38.9% on Q2 FY2025
Diluted EPS
$-1.97
+7.5% on Q2 FY2025
Revenue, TTM
$2.2B
trailing four quarters
Net margin, TTM
-141.4%
net income −$3.2B
Free cash flow, TTM
−$1.2B
−$1.1B less $171M capex
Cash and equivalents
$1.7B
long-term debt $591M, Jun 30, 2026
Shares, 12-month change
+2.6%
399M shares, Jun 30, 2026
Buybacks, TTM
—
no yield
Dividends, TTM
—
no yield
Market value
$88.5B
at the close, buybacks

Latest quarter Q2 FY2026, filed July 31, 2026. Trailing figures sum the latest four quarters. Market values at the latest close, from a market data vendor.

In Q2 FY2026, the quarter ended June 30, 2026, Moderna reported revenue of $145M, +2.1% on Q2 FY2025, and net loss of $782M (+5.2%). Operating margin was −562.1%. Free cash flow, operating cash flow less capital expenditures, was −$563M (−$526M less $37M). Diluted earnings per share were $-1.97.

The last 16 quarters

Q3 FY2022 to Q2 FY2026, through the filing of July 31, 2026.

Revenue and net incomeRevenueNet income
−$5B−$3B$0$3B$5B$8BQ3'22, Revenue: $3.4BQ3'22, Net income: $1.0BQ3'22Q4'22, Revenue: $5.1BQ4'22, Net income: $1.5BQ4'22Q1'23, Revenue: $1.9BQ1'23, Net income: $79MQ1'23Q2'23, Revenue: $344MQ2'23, Net income: −$1.4BQ2'23Q3'23, Revenue: $1.8BQ3'23, Net income: −$3.6BQ3'23Q4'23, Revenue: $2.8BQ4'23, Net income: $217MQ4'23Q1'24, Revenue: $167MQ1'24, Net income: −$1.2BQ1'24Q2'24, Revenue: $241MQ2'24, Net income: −$1.3BQ2'24Q3'24, Revenue: $1.9BQ3'24, Net income: $13MQ3'24Q4'24, Revenue: $966MQ4'24, Net income: −$1.1BQ4'24Q1'25, Revenue: $108MQ1'25, Net income: −$971MQ1'25Q2'25, Revenue: $142MQ2'25, Net income: −$825MQ2'25Q3'25, Revenue: $1.0BQ3'25, Net income: −$200MQ3'25Q4'25, Revenue: $678MQ4'25, Net income: −$826MQ4'25Q1'26, Revenue: $389MQ1'26, Net income: −$1.3BQ1'26Q2'26, Revenue: $145MQ2'26, Net income: −$782MQ2'26−$5B−$3B$0$3B$5B$8BQ3'22, Revenue: $3.4BQ3'22, Net income: $1.0BQ4'22, Revenue: $5.1BQ4'22, Net income: $1.5BQ4'22Q1'23, Revenue: $1.9BQ1'23, Net income: $79MQ2'23, Revenue: $344MQ2'23, Net income: −$1.4BQ2'23Q3'23, Revenue: $1.8BQ3'23, Net income: −$3.6BQ4'23, Revenue: $2.8BQ4'23, Net income: $217MQ4'23Q1'24, Revenue: $167MQ1'24, Net income: −$1.2BQ2'24, Revenue: $241MQ2'24, Net income: −$1.3BQ2'24Q3'24, Revenue: $1.9BQ3'24, Net income: $13MQ4'24, Revenue: $966MQ4'24, Net income: −$1.1BQ4'24Q1'25, Revenue: $108MQ1'25, Net income: −$971MQ2'25, Revenue: $142MQ2'25, Net income: −$825MQ2'25Q3'25, Revenue: $1.0BQ3'25, Net income: −$200MQ4'25, Revenue: $678MQ4'25, Net income: −$826MQ4'25Q1'26, Revenue: $389MQ1'26, Net income: −$1.3BQ2'26, Revenue: $145MQ2'26, Net income: −$782MQ2'26

Net income losses drawn in red.

Free cash flow
−$2B−$1B$0$1B$2BQ3'22, Free cash flow: $163MQ3'22Q4'22, Free cash flow: $1.6BQ4'22Q1'23, Free cash flow: −$1.3BQ1'23Q2'23, Free cash flow: −$1.1BQ2'23Q3'23, Free cash flow: −$1.7BQ3'23Q4'23, Free cash flow: $402MQ4'23Q1'24, Free cash flow: −$1.2BQ1'24Q2'24, Free cash flow: −$1.5BQ2'24Q3'24, Free cash flow: −$1.7BQ3'24Q4'24, Free cash flow: $303MQ4'24Q1'25, Free cash flow: −$1.2BQ1'25Q2'25, Free cash flow: −$922MQ2'25Q3'25, Free cash flow: −$880MQ3'25Q4'25, Free cash flow: $891MQ4'25Q1'26, Free cash flow: −$692MQ1'26Q2'26, Free cash flow: −$563MQ2'26−$2B−$1B$0$1B$2BQ3'22, Free cash flow: $163MQ4'22, Free cash flow: $1.6BQ4'22Q1'23, Free cash flow: −$1.3BQ2'23, Free cash flow: −$1.1BQ2'23Q3'23, Free cash flow: −$1.7BQ4'23, Free cash flow: $402MQ4'23Q1'24, Free cash flow: −$1.2BQ2'24, Free cash flow: −$1.5BQ2'24Q3'24, Free cash flow: −$1.7BQ4'24, Free cash flow: $303MQ4'24Q1'25, Free cash flow: −$1.2BQ2'25, Free cash flow: −$922MQ2'25Q3'25, Free cash flow: −$880MQ4'25, Free cash flow: $891MQ4'25Q1'26, Free cash flow: −$692MQ2'26, Free cash flow: −$563MQ2'26

Operating cash flow less capital expenditures; negative quarters in red.

Cash and equivalents against long-term debtCash and equivalentsLong-term debt
$0$1B$2B$3B$4BQ3'22, Cash and equivalents: $3.0BQ3'22Q4'22, Cash and equivalents: $3.2BQ4'22Q1'23, Cash and equivalents: $3.4BQ1'23Q2'23, Cash and equivalents: $3.8BQ2'23Q3'23, Cash and equivalents: $2.9BQ3'23Q4'23, Cash and equivalents: $2.9BQ4'23Q1'24, Cash and equivalents: $2.1BQ1'24Q2'24, Cash and equivalents: $2.5BQ2'24Q3'24, Cash and equivalents: $1.6BQ3'24Q4'24, Cash and equivalents: $1.9BQ4'24, Long-term debt: $0Q4'24Q1'25, Cash and equivalents: $1.6BQ1'25Q2'25, Cash and equivalents: $1.3BQ2'25Q3'25, Cash and equivalents: $1.1BQ3'25Q4'25, Cash and equivalents: $2.6BQ4'25, Long-term debt: $590MQ4'25Q1'26, Cash and equivalents: $1.9BQ1'26, Long-term debt: $590MQ1'26Q2'26, Cash and equivalents: $1.7BQ2'26, Long-term debt: $591MQ2'26$0$1B$2B$3B$4BQ3'22, Cash and equivalents: $3.0BQ4'22, Cash and equivalents: $3.2BQ4'22Q1'23, Cash and equivalents: $3.4BQ2'23, Cash and equivalents: $3.8BQ2'23Q3'23, Cash and equivalents: $2.9BQ4'23, Cash and equivalents: $2.9BQ4'23Q1'24, Cash and equivalents: $2.1BQ2'24, Cash and equivalents: $2.5BQ2'24Q3'24, Cash and equivalents: $1.6BQ4'24, Cash and equivalents: $1.9BQ4'24, Long-term debt: $0Q4'24Q1'25, Cash and equivalents: $1.6BQ2'25, Cash and equivalents: $1.3BQ2'25Q3'25, Cash and equivalents: $1.1BQ4'25, Cash and equivalents: $2.6BQ4'25, Long-term debt: $590MQ4'25Q1'26, Cash and equivalents: $1.9BQ1'26, Long-term debt: $590MQ2'26, Cash and equivalents: $1.7BQ2'26, Long-term debt: $591MQ2'26

Positions at each quarter end, as filed; short-term investments are not included.

Income statement

Last eight quarters, newest first, through Q2 FY2026 filed July 31, 2026.

Moderna income statement, quarterly
Millions of dollarsQ2 FY2026ended Jun 30, 2026filed Jul 31, 2026Q1 FY2026ended Mar 31, 2026filed May 1, 2026Q4 FY2025ended Dec 31, 2025filed Feb 20, 2026Q3 FY2025ended Sep 30, 2025filed Nov 6, 2025Q2 FY2025ended Jun 30, 2025filed Aug 1, 2025Q1 FY2025ended Mar 31, 2025filed May 1, 2025Q4 FY2024ended Dec 31, 2024filed Feb 21, 2025Q3 FY2024ended Sep 30, 2024filed Nov 7, 2024YoYQ2 FY2026vs Q2 FY2025
Revenue1453896781,0161421089661,862+2.1%
Cost of revenue9395545220711990739514−21.8%
Gross profit—————————
Research and development6516497758017008561,1221,137−7.0%
Selling, general and administrative216173308268230212351281−6.1%
Operating income(815)(1,388)(857)(260)(907)(1,050)(1,246)(70)+10.1%
Other income (expense)(19)(18)(12)08(4)(29)(12)−337.5%
Pretax income(767)(1,334)(799)(187)(818)(964)(1,184)21+6.2%
Income tax159271377(64)8+114.3%
Net income(782)(1,343)(826)(200)(825)(971)(1,120)13+5.2%
Diluted EPS ($)(1.97)(3.40)—(0.51)(2.13)(2.52)—0.03+7.5%
Diluted shares (millions)398395—390388386—399—

Fourth quarters are the fiscal year less the first nine months when the filer reports no discrete fourth quarter, and are marked. Diluted EPS is never derived, so a derived quarter shows none. Italic figures are derived.

Balance sheet

Last eight quarters, newest first, through Q2 FY2026 filed July 31, 2026.

Moderna balance sheet, quarterly
Millions of dollarsQ2 FY2026ended Jun 30, 2026filed Jul 31, 2026Q1 FY2026ended Mar 31, 2026filed May 1, 2026Q4 FY2025ended Dec 31, 2025filed Feb 20, 2026Q3 FY2025ended Sep 30, 2025filed Nov 6, 2025Q2 FY2025ended Jun 30, 2025filed Aug 1, 2025Q1 FY2025ended Mar 31, 2025filed May 1, 2025Q4 FY2024ended Dec 31, 2024filed Feb 21, 2025Q3 FY2024ended Sep 30, 2024filed Nov 7, 2024YoYQ2 FY2026vs Q2 FY2025
Cash and equivalents1,7231,9082,5951,1321,2791,6231,9271,644+34.7%
Short-term investments3,4153,2973,2043,3723,8524,3525,0985,223−11.3%
Total current assets5,8155,7706,5446,5986,1716,7668,0999,666−5.8%
Total assets10,96111,48812,33812,13512,01012,70414,14215,803−8.7%
Total current liabilities2,5342,3951,9871,6811,5721,6042,2062,201+61.2%
Long-term debt591590590———0——
Total liabilities4,2004,0803,6882,8052,6112,6383,2413,876+60.9%
Stockholders’ equity6,7617,4088,6509,3309,39910,06610,90111,927−28.1%
Shares outstanding (millions)399397395391389387386385—

Positions at each period end. Nothing on this statement is derived. Long-term debt is the filed noncurrent line only; no total-debt composite is constructed across filers. Italic figures are derived.

Cash flow statement

Last eight quarters, newest first, through Q2 FY2026 filed July 31, 2026.

Moderna cash flow statement, quarterly
Millions of dollarsQ2 FY2026ended Jun 30, 2026filed Jul 31, 2026Q1 FY2026ended Mar 31, 2026filed May 1, 2026Q4 FY2025ended Dec 31, 2025filed Feb 20, 2026Q3 FY2025ended Sep 30, 2025filed Nov 6, 2025Q2 FY2025ended Jun 30, 2025filed Aug 1, 2025Q1 FY2025ended Mar 31, 2025filed May 1, 2025Q4 FY2024ended Dec 31, 2024filed Feb 21, 2025Q3 FY2024ended Sep 30, 2024filed Nov 7, 2024YoYQ2 FY2026vs Q2 FY2025
Operating cash flow(526)(630)930(847)(919)(1,037)825(1,566)+42.8%
Capital expenditures376239333117522151+1133.3%
Free cash flow (CFO − capex)(563)(692)891(880)(922)(1,154)303(1,717)+38.9%
Depreciation and amortization56566651563859510.0%
Share repurchases——————00—
Dividends paid—————————

10-Qs file cash flows as year-to-date totals, so quarterly figures are differenced from consecutive filings and marked. Free cash flow is operating cash flow less capital expenditures, computed from the two filed lines. Italic figures are derived.

Annual statements

Every fiscal year filed, newest first, through FY2025 filed February 20, 2026.

Income statement

Moderna income statement, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 20, 2026FY2024ended Dec 31, 2024filed Feb 21, 2025FY2023ended Dec 31, 2023filed Feb 23, 2024FY2022ended Dec 31, 2022filed Feb 24, 2023FY2021ended Dec 31, 2021filed Feb 25, 2022FY2020ended Dec 31, 2020filed Feb 26, 2021FY2019ended Dec 31, 2019filed Feb 27, 2020FY2018ended Dec 31, 2018filed Mar 13, 2019FY2017ended Dec 31, 2017filed Mar 13, 2019FY2016ended Dec 31, 2016filed Mar 13, 2019
Revenue1,9443,2366,84819,26318,47180360135206108
Cost of revenue8681,4644,6935,4162,617800——
Gross profit——————————
Research and development3,1324,5434,8453,2951,9911,370496454410275
Selling, general and administrative1,0181,1741,5491,132567188110946557
Operating income(3,074)(3,945)(4,239)9,42013,296(763)(546)(413)(269)(224)
Other income (expense)(8)(87)(124)(45)(29)(6)(8)2(2)(3)
Pretax income(2,768)(3,607)(3,942)9,57513,285(744)(515)(384)(256)(215)
Income tax54(46)7721,2131,0833(1)001
Net income(2,822)(3,561)(4,714)8,36212,202(747)(514)(385)(256)(216)
Diluted EPS ($)(7.26)(9.28)(12.33)20.1228.29(1.96)(1.55)———
Diluted shares (millions)389384382416431381331———

Balance sheet

Moderna balance sheet, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 20, 2026FY2024ended Dec 31, 2024filed Feb 21, 2025FY2023ended Dec 31, 2023filed Feb 23, 2024FY2022ended Dec 31, 2022filed Feb 24, 2023FY2021ended Dec 31, 2021filed Feb 25, 2022FY2020ended Dec 31, 2020filed Feb 26, 2021FY2019ended Dec 31, 2019filed Feb 27, 2020FY2018ended Dec 31, 2018filed Mar 13, 2019FY2017ended Dec 31, 2017filed Mar 13, 2019FY2016ended Dec 31, 2016filed Mar 13, 2019
Cash and equivalents2,5951,9272,9073,2056,8482,62423665813550
Short-term investments3,2045,0985,6976,6973,8791,984867863621—
Total current assets6,5448,09910,32513,43116,0716,2981,1291,563783—
Total assets12,33814,14218,42625,85824,6697,3371,5892,0201,084—
Total current liabilities1,9872,2063,0154,9239,1284,389143223191—
Long-term debt5900————————
Total liabilities3,6883,2414,5726,73510,5244,776415432459—
Stockholders’ equity8,65010,90113,85419,12314,1452,5611,1751,530(551)(335)
Shares outstanding (millions)395386382386403400369329——

Cash flow statement

Moderna cash flow statement, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 20, 2026FY2024ended Dec 31, 2024filed Feb 21, 2025FY2023ended Dec 31, 2023filed Feb 23, 2024FY2022ended Dec 31, 2022filed Feb 24, 2023FY2021ended Dec 31, 2021filed Feb 25, 2022FY2020ended Dec 31, 2020filed Feb 26, 2021FY2019ended Dec 31, 2019filed Feb 27, 2020FY2018ended Dec 31, 2018filed Mar 13, 2019FY2017ended Dec 31, 2017filed Mar 13, 2019FY2016ended Dec 31, 2016filed Mar 13, 2019
Operating cash flow(1,873)(3,004)(3,118)4,98113,6202,027(459)(331)(331)67
Capital expenditures1921,05170740028468321065833
Free cash flow (CFO − capex)(2,065)(4,055)(3,825)4,58113,3361,959(491)(437)(390)34
Depreciation and amortization2111856173482323131252115
Share repurchases201,1533,32985700———
Dividends paid——————————

Insider activity

Form 4 filings by officers, directors and 10% owners, November 1, 2024 to November 1, 2026. Only open-market purchases and sales count as buys and sells; awards, exercises, tax withholding and gifts are listed in grey and never counted.

Bought, three months
$0
0 purchases by 0 insiders; officers and directors $0
Sold, three months
$63M
12 sales by 4 insiders; officers and directors $63M
Bought, twelve months
$0
0 purchases by 0 insiders; officers and directors $0
Sold, twelve months
$82M
22 sales by 6 insiders; officers and directors $82M

The last 25 transactions

TradedInsiderRoleTransactionSharesPriceValueHeld afterFiled
Oct 15, 2026Hoge StephenPresidentoption exercise76,452$12.21$933K2MOct 16, 2026
Oct 15, 2026Hoge StephenPresidentopen-market sale10b5-139,145$220.72$9M2MOct 16, 2026
Oct 14, 2026Hoge StephenPresidentoption exercise76,453$12.21$933K2MOct 16, 2026
Oct 14, 2026Hoge StephenPresidentopen-market sale10b5-138,774$213.47$8M2MOct 16, 2026
Oct 14, 2026Hoge StephenPresidentopen-market sale10b5-1450$214.15$96K2MOct 16, 2026
Oct 5, 2026Mock James MChief Financial Officeroption exercise1,454——60,829Oct 7, 2026
Oct 5, 2026Mock James MChief Financial Officertax withholding704$190.01$134K60,125Oct 7, 2026
Sep 15, 2026Hoge StephenPresidentoption exercise76,452$12.21$933K2MSep 16, 2026
Sep 15, 2026Hoge StephenPresidentopen-market sale10b5-140,281$146.07$6M2MSep 16, 2026
Sep 14, 2026Hoge StephenPresidentoption exercise76,453$12.21$933K2MSep 16, 2026
Sep 14, 2026Hoge StephenPresidentopen-market sale10b5-140,294$144.13$6M2MSep 16, 2026
Sep 10, 2026Mock James MChief Financial Officeroption exercise19,836$30.96$614K94,211Sep 14, 2026
Sep 10, 2026Mock James MChief Financial Officeropen-market sale10b5-119,836$134.49$3M74,375Sep 14, 2026
Sep 10, 2026Mock James MChief Financial Officeropen-market sale10b5-115,000$134.49$2M59,375Sep 14, 2026
Sep 4, 2026Mock James MChief Financial Officeroption exercise11,797——80,079Sep 8, 2026
Sep 4, 2026Mock James MChief Financial Officertax withholding5,704$148.87$849K74,375Sep 8, 2026
Sep 4, 2026Klinger Shannon ThymeChief Legal Officeroption exercise11,797——87,044Sep 8, 2026
Sep 4, 2026Klinger Shannon ThymeChief Legal Officertax withholding5,704$148.87$849K81,340Sep 8, 2026
Sep 1, 2026Klinger Shannon ThymeChief Legal Officeroption exercise3,471$30.96$107K77,600Sep 3, 2026
Sep 1, 2026Klinger Shannon ThymeChief Legal Officeropen-market sale10b5-13,471$139.95$486K74,129Sep 3, 2026
Sep 1, 2026Klinger Shannon ThymeChief Legal Officeroption exercise2,166——76,295Sep 3, 2026
Sep 1, 2026Klinger Shannon ThymeChief Legal Officertax withholding1,048$140.34$147K75,247Sep 3, 2026
Sep 1, 2026Mock James MChief Financial Officeroption exercise2,475——69,479Sep 3, 2026
Sep 1, 2026Mock James MChief Financial Officertax withholding1,197$140.34$168K68,282Sep 3, 2026
Sep 1, 2026Hoge StephenPresidentoption exercise9,283——1MSep 3, 2026

Full insider history for Moderna, or insider activity across all companies. A record of filings, not a recommendation.

Tracked funds holding it

1 of the tracked managers held MRNA in their latest 13F filing, through August 14, 2026. Weight is the share of the fund’s reported portfolio. How the funds have traded MRNA by quarter.

FundManagerQuarterValueSharesWeightMove
Baron Capital GroupRon BaronQ2 2026$139M2M0.21%new

Sources

Fiscal year ends in month 12; periods are labeled with the issuer's own fiscal calendar. Values are as most recently filed (restatements apply; per-share values are on current split basis per the connector's split table, flagged in adjusted). Flow items flagged in `derived` were computed (Q4 = FY − nine months; quarterly cash flow differenced from year-to-date filings) rather than read from a filing. `reconciliation.repaired` lists periods where a full-year figure was filed in a quarter slot: that row was dropped and the quarter rebuilt from the annual figure. `reconciliation.quarantined` lists periods where four filed quarters do not sum to the filed year — those quarterly values are withheld, so a blank there is a withholding rather than an absence of reporting.

Filer
Moderna, Inc., CIK 1682852 on EDGAR
Extract generated
August 27, 2026
Withheld
1 line-years whose four quarters do not sum to the filed year: depreciation amortization FY2020
Repaired
none
XBRL concepts behind each line

Income statement

Revenue: RevenueFromContractWithCustomerExcludingAssessedTax, Revenues
Cost of revenue: CostOfGoodsAndServicesSold
Gross profit: not filed
Research and development: ResearchAndDevelopmentExpense
Selling, general and administrative: GeneralAndAdministrativeExpense
Operating income: OperatingIncomeLoss
Other income (expense): OtherNonoperatingIncomeExpense
Pretax income: IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest, IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Income tax: IncomeTaxExpenseBenefit
Net income: NetIncomeLoss
Diluted EPS ($): EarningsPerShareDiluted
Diluted shares (millions): WeightedAverageNumberOfDilutedSharesOutstanding

Balance sheet

Cash and equivalents: CashAndCashEquivalentsAtCarryingValue
Short-term investments: AvailableForSaleSecuritiesDebtSecuritiesCurrent
Total current assets: AssetsCurrent
Total assets: Assets
Total current liabilities: LiabilitiesCurrent
Long-term debt: LongTermDebtNoncurrent
Total liabilities: Liabilities
Stockholders’ equity: StockholdersEquity
Shares outstanding (millions): dei:EntityCommonStockSharesOutstanding

Cash flow statement

Operating cash flow: NetCashProvidedByUsedInOperatingActivities
Capital expenditures: PaymentsToAcquirePropertyPlantAndEquipment
Free cash flow (CFO − capex): not filed
Depreciation and amortization: DepreciationDepletionAndAmortization
Share repurchases: PaymentsForRepurchaseOfCommonStock
Dividends paid: not filed

The data

The statements on this page as files, generated August 27, 2026.

JSON file
/data/financials/MRNA.json