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Moderna Income Statement

Revenue, expenses, and profitability over time

Moderna generated $2.2B in trailing twelve-month revenue, down 0.3% year-over-year. Net income was -$3.2B with a -143.55% net margin. Gross margin stands at 22.11% and operating margin at -153.35%. Diluted EPS is $-8.15, which grew 0.1% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$2.2BGross Profit (TTM)$492.0MOperating Income (TTM)-$3.4BNet Income (TTM)-$3.2BEps Diluted (TTM)$-8.15
Latest FilingQ1 2026
Report Date2026-05-01
Market Cap$19.7B
ROE-36.56%

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$-2.91$-2.52$-2.13$-0.51$-2.11$-3.40
Diluted earnings per share$-2.91$-2.52$-2.13$-0.51$-2.11$-3.40
Weighted-average shares, basic384M386M388M390M389M395M
Weighted-average shares, diluted384M386M388M390M389M395M

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
General and administrative$351M$212M$230M$268M$308M$173M
Research and development$1.1B$856M$700M$801M$775M$649M
Total operating expenses$2.2B$1.2B$1B$1.3B$1.5B$1.8B

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gross profit$227M$18M$23M$809M$226M-$566M
Operating income-$1.2B-$1.1B-$907M-$260M-$857M-$1.4B

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes-$1.2B-$964M-$818M-$187M-$799M-$1.3B

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense-$64M$7M$7M$13M$27M$9M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Interest income$91M$90M$81M$73M$70M$72M
Other income (expense), net-$29M-$4M$8M$0-$12M-$18M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income-$1.1B-$971M-$825M-$200M-$826M-$1.3B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other income, net (Note 6)-$29M-$4M$8M$0-$12M-$18M
Revenue From Contract With Customer Excluding Assessed Tax$966M$108M$142M$1B$678M$389M

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total cost of revenue$739M$90M$119M$207M$452M$955M

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenue$966M$108M$142M$1B$678M$389M