What is Moderna's gross profit?

Moderna (MRNA) reported gross profit of -$566M in Q1 2026.

How has Moderna's gross profit changed year-over-year?

Moderna's gross profit decreased by 3244.4% year-over-year, from $18M to -$566M.

What is the long-term trend for Moderna's gross profit?

Over 4 years (2021 to 2025), Moderna's gross profit has grown at a -49.0% compound annual growth rate (CAGR), from $15.85B to $1.08B.

What does gross profit mean?

Revenue minus cost of revenue — the profit available to cover operating expenses, representing the company's pricing power and production efficiency.

Moderna MRNA Gross Profit

Gross Profit at other companies

PfizerPFE

$10.9B+0.3%

NovavaxNVAX

$108.82M-83.3%

ALN

Alnylam PharmaceuticalsALNY

$959.66M+83.1%

Gilead SciencesGILD

$5.52B+7.6%

Other financials

Income statement

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Revenue$389.0M+260%

Operating income-$1.4B-32.2%

Net income-$1.3B-38.3%

EPS (diluted)-$3.40-34.9%

Balance sheet

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Cash & equivalents$1.9B+17.4%

Total debt$1.3B+71.9%

Total equity$7.4B-26.4%

Total assets$11.5B-9.6%

Cash flow

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Operating cash flow-$630.0M+39.2%

CapEx$62.0M-47.0%

Free cash flow-$692.0M+40.0%

Valuation

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Market cap$27.09B+115%

Enterprise value$26.51B+120%

P/S12.2×+8.1×

Profitability

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Gross margin22.1%-32.0pp

Operating margin-153.3%+67.8pp

Net margin-143.6%+80.2pp

FCF margin-132.4%—

Returns & leverage

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Return on equity-36.6%+11.9pp

Debt / equity0.2×+0.1×

Current ratio2.4×-1.8×

Where this comes from

Calculated from Moderna’s reported figures.

$389.0Mtotal revenue−$955.0Mtotal cost of revenue=-$566M

The official record: Moderna’s 10-Q, filed May 1, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Moderna's gross profit?: Moderna (MRNA) reported gross profit of -$566M in Q1 2026.
How has Moderna's gross profit changed year-over-year?: Moderna's gross profit decreased by 3244.4% year-over-year, from $18M to -$566M.
What is the long-term trend for Moderna's gross profit?: Over 4 years (2021 to 2025), Moderna's gross profit has grown at a -49.0% compound annual growth rate (CAGR), from $15.85B to $1.08B.
What does gross profit mean?: Revenue minus cost of revenue — the profit available to cover operating expenses, representing the company's pricing power and production efficiency.