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Moderna MRNA Net product sales — Gross product sales

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Other financials

Income statement

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Revenue$145.0M+2.1%
Gross profit$52.0M+126%
Operating income-$815.0M+10.1%
Net income-$782.0M+5.2%
EPS (diluted)-$1.97+7.5%

Balance sheet

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Cash & equivalents$1.7B+34.5%
Total debt$1.2B+60.8%
Total equity$6.8B-28.1%
Total assets$11.0B-8.7%

Cash flow

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Operating cash flow-$526.0M+42.8%
CapEx$37.0M+1,133%
Free cash flow-$563.0M+38.9%

Valuation

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Market cap$22.46B+116%
Enterprise value$21.97B+122%
P/S10.1×+6.7×

Profitability

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Gross margin23.4%-29.1pp
Operating margin-149%+99.9pp
Net margin-141.4%+141pp
FCF margin-132.4%

Returns & leverage

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Return on equity-39%+28.0pp
Debt / equity0.2×+0.1×
Current ratio2.3×-1.6×

Where this comes from

Reported directly by Moderna in its filing.

Tagged under the XBRL concept mrna:RevenueFromContractWithCustomerExcludingAssessedTaxGross.

The source filing: Moderna’s 10-Q, filed May 1, 2026.

Filed
May 1, 2026, 4:10 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001682852-26-000060
Line itemThree Months Ended March 31, 2026Three Months Ended March 31, 2025
Gross product sales$350$105
Product sales provision:
Wholesaler chargebacks, discounts and fees11(22)
Returns, rebates and other fees(9)3
Total product sales provision adjustments$2$(19)
Net product sales$352$86

Item 1. Financial Statements (Unaudited)

FAQ

What is Moderna's net product sales — gross product sales?
Moderna (MRNA) reported net product sales — gross product sales of $350M in Q1 2026.
How has Moderna's net product sales — gross product sales changed year-over-year?
Moderna's net product sales — gross product sales increased by 233.3% year-over-year, from $105M to $350M.
What is the long-term trend for Moderna's net product sales — gross product sales?
Over 3 years (2021 to 2025), Moderna's net product sales — gross product sales has grown at a -42.8% compound annual growth rate (CAGR), from $17.68B to $3.31B.
What does net product sales — gross product sales mean?
This represents the total invoiced sales of products before any deductions for rebates, chargebacks, discounts, or returns. It provides a view of the total market demand and pricing volume before accounting for contractual adjustments.

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