What is Moderna's grant revenue — award amount?

Moderna (MRNA) reported grant revenue — award amount of $590M in Q1 2025.

What does grant revenue — award amount mean?

This represents the maximum authorized funding amount committed by grantors for specific research programs. It serves as a forward-looking indicator of potential future revenue streams tied to research milestones. Monitoring this helps investors understand the total scope of external financial backing for the company's R&D efforts.

Moderna MRNA Grant revenue — Award amount

Discontinued — last reported Q1 '25

Similar metrics at other companies

FORMDeferred grant

$18M0.0%

FROGGrants — Maximum Additional Payments As A Grant Recipient1

$6M—

AAONGrant proceeds received

$1.65M—

UHSIncrease Decrease In Deferred Grant Revenue

$0—

HIIGrant proceeds for capital expenditures

$3M—

AVAVIncome recognized in respect of BARDA

$19.62M-4.4%

Other financials

Income statement

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Revenue$389.0M+260%

Gross profit-$566.0M-3,244%

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$25.38B+83.8%

Enterprise value$24.8B+93.6%

P/S11.4×+7.1×

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

Reported directly by Moderna in its filing.

Tagged under the XBRL concept mrna:RevenueFromGrantsMaximumAward.

The official record: Moderna’s 10-Q, filed November 6, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Moderna's grant revenue — award amount?: Moderna (MRNA) reported grant revenue — award amount of $590M in Q1 2025.
What does grant revenue — award amount mean?: This represents the maximum authorized funding amount committed by grantors for specific research programs. It serves as a forward-looking indicator of potential future revenue streams tied to research milestones. Monitoring this helps investors understand the total scope of external financial backing for the company's R&D efforts.