How has Moderna's licensing and royalty revenue — total revenue changed year-over-year?

Moderna's licensing and royalty revenue — total revenue decreased by 100.0% year-over-year, from $8M to $0.

What does licensing and royalty revenue — total revenue mean?

This metric represents the total gross revenue recognized from licensing intellectual property and royalty agreements within a specific business segment. It reflects the monetization of proprietary technology or research assets through third-party partnerships. This is a key indicator of the firm's ability to generate passive or recurring income streams from its R&D pipeline.

Moderna MRNA Licensing and royalty revenue — Total Revenue

Other product segments

Stand-ready manufacturing revenue

$32M+167%

Collaboration Arrangement, Including Arrangements With Affiliate

$5M+400%

Grant revenue

$0-100%

Similar metrics at other companies

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$372.25M+7.6%

ARDXLicensing revenue — Total revenues

$51K-99.0%

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$947K-94.4%

NVAXRoyalties — Total Revenue

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MRAMLicensing, royalty, patent, engineering services and other revenue — Total Revenue

$772K-63.4%

Other financials

Income statement

See full

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

See full

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

See full

Gross margin22.1%-32.0pp

Operating margin-153.3%+67.8pp

Net margin-143.6%+80.2pp

FCF margin-132.4%—

Returns & leverage

See full

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 us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

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 licensing and royalty revenue — total revenue?: Moderna (MRNA) reported licensing and royalty revenue — total revenue of $0 in Q1 2026.
How has Moderna's licensing and royalty revenue — total revenue changed year-over-year?: Moderna's licensing and royalty revenue — total revenue decreased by 100.0% year-over-year, from $8M to $0.
What does licensing and royalty revenue — total revenue mean?: This metric represents the total gross revenue recognized from licensing intellectual property and royalty agreements within a specific business segment. It reflects the monetization of proprietary technology or research assets through third-party partnerships. This is a key indicator of the firm's ability to generate passive or recurring income streams from its R&D pipeline.