Moderna R&D decreased by 16.3% to $649.00M in Q1 2026 compared to the prior quarter. Year-over-year, this metric declined by 24.2%, from $856.00M to $649.00M. Over 4 years (FY 2021 to FY 2025), R&D shows an upward trend with a 12.0% CAGR.
Analysis
StatementIncome Statement
SectionOperating Expenses
CategoryGrowth
SignalContext dependent
VolatilityModerate
First reportedQ1 2016
Last reportedQ1 2026May 1, 2026
How to read this metric
Higher spending signals a commitment to innovation and future product launches, whereas significant cuts may indicate a shift toward short-term profitability.
Detailed definition
Research and development expenses represent the costs incurred to discover new products, improve existing technologies,...
Peer comparison
Highly comparable across pharmaceutical and medical device peers, where R&D intensity is a key metric for long-term valuation.
Metric ID:
research_and_developmentHistorical Data
20 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $421.00M | $521.00M | $648.00M | $554.00M | $710.00M | $820.00M | $1.21B | $1.13B | $1.15B | $1.16B | $1.41B | $1.06B | $1.22B | $1.14B | $1.12B | $856.00M | $700.00M | $801.00M | $775.00M | $649.00M |
| QoQ Change | — | +23.8% | +24.4% | -14.5% | +28.2% | +15.5% | +47.7% | -6.6% | +1.5% | +1.0% | +21.2% | -24.4% | +14.9% | -6.9% | -1.3% | -23.7% | -18.2% | +14.4% | -3.2% | -16.3% |
| YoY Change | — | — | — | — | +68.6% | +57.4% | +86.9% | +104.2% | +61.7% | +41.5% | +16.1% | -6.0% | +6.4% | -2.0% | -20.2% | -19.5% | -42.7% | -29.6% | -30.9% | -24.2% |
Range$421.00M – $1.41B
CAGR+9.5%
Avg YoY Growth+16.7%
Median YoY Growth+2.2%
Current Streak2 quarters decline
R&D at Other Companies
Frequently Asked Questions
- What is Moderna's r&d?
- Moderna (MRNA) reported r&d of $649.00M in Q1 2026.
- How has Moderna's r&d changed year-over-year?
- Moderna's r&d decreased by 24.2% year-over-year, from $856.00M to $649.00M.
- What is the long-term trend for Moderna's r&d?
- Over 4 years (2021 to 2025), Moderna's r&d has grown at a 12.0% compound annual growth rate (CAGR), from $1.99B to $3.13B.
- What does r&d mean?
- The money spent on creating new products or improving existing ones to drive future growth.