Skip to content
OpenCapital
Get started

Moderna MRNA Q4 2025 Annual earnings

Reported February 13, 2026 · Before market open

Revenue$678.0MBeat by $42.8MDiluted EPS-$2.11Beat by $0.43
Revenue estimate$635.2M
EPS estimate-$2.54

Next report

Jul 31, 2026 (In 3 weeks)
Revenue estimate$101.7M
EPS estimate-$2.00

Financials

Q4 2025

Income statement

See full
Revenue$678.0M-29.8%
Gross profit$226.0M-0.4%
Operating income-$857.0M+31.2%
Net income-$826.0M+26.3%
EPS (diluted)-$2.11+27.5%

Balance sheet

See full
Cash & equivalents$2.6B+34.6%
Total debt$1.3B+72.7%
Total equity$8.7B-20.6%
Total assets$12.3B-12.8%

Cash flow

See full
CapEx$39.0M-92.5%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$11.52B-28.0%
Enterprise value$10.26B-30.9%
P/S5.9×+1.0×

Profitability

See full
Gross margin55.3%+0.6pp
Operating margin-158.1%+66.8pp
Net margin-145.2%+68.0pp

Returns & leverage

See full
Return on equity-28.9%+0.1pp
Debt / equity0.2×+0.1×
Current ratio3.3×-0.4×

Segments

By product

See full
Grant revenue$2.0M-80.0%
Collaboration Arrangement, Including Arrangements With Affiliate$1.0M-92.3%
Licensing and royalty revenue--100%

By geography

See full
Rest of world$173.0M-18.9%
Europe$13.3M-91.1%

Versus estimates

Revenue

Q1 2026$389.0MBeat by $152.6M
Q4 2025$678.0MBeat by $42.8M
Q3 2025$1.0BBeat by $95.1MQ2 2025$142.0MMiss by $751.3MQ1 2025$107.0MMiss by $9.7MQ4 2024$956.0MBeat by $13.2M

Diluted EPS

Q1 2026-$1.18Beat by $1.84
Q4 2025-$2.11Beat by $0.43
Q3 2025-$0.51Beat by $1.36Q2 2025-$2.13Beat by $0.86Q1 2025-$2.52Beat by $0.40Q4 2024-$2.50Beat by $0.18

Ask the moment Moderna reports.

Connect your AI and ask the moment the filing drops. It reads the release, surfaces what management said, and gives you its own read.

Connect your AI
Harbor at dusk
Claude

Questions, answered.

When did Moderna report Q4 2025 earnings?
Moderna (MRNA) reported Q4 2025 earnings on February 13, 2026 before market open.
What were Moderna's Q4 2025 revenue and EPS?
Moderna reported revenue of $678.0M and diluted EPS of $-2.11 for Q4 2025.
Did Moderna beat estimates in Q4 2025?
Revenue beat the consensus estimate of $635.2M by $42.8M. EPS beat the consensus estimate of $-2.54 by $0.43.
How did Moderna's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 29.1% from $956.0M a year earlier and diluted EPS grew 15.6% from $-2.50.
Where can I find Moderna's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001682852-26-000012) and the 10-K periodic report (0001682852-26-000033) directly on SEC EDGAR. The filing index links above go to sec.gov.