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Moderna MRNA Stand-ready manufacturing revenue — Total Revenue

Other product segments

Collaboration Arrangement, Including Arrangements With Affiliate
$5M+400%
Grant revenue
$0-100%
Licensing and royalty revenue
$0-100%

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PDYNManufacturing Revenue — Revenue
$139.75K—

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$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

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 stand-ready manufacturing revenue — total revenue?
Moderna (MRNA) reported stand-ready manufacturing revenue — total revenue of $32M in Q1 2026.
How has Moderna's stand-ready manufacturing revenue — total revenue changed year-over-year?
Moderna's stand-ready manufacturing revenue — total revenue increased by 166.7% year-over-year, from $12M to $32M.
What does stand-ready manufacturing revenue — total revenue mean?
This metric represents revenue generated from contractual arrangements where the company maintains manufacturing capacity or readiness for a partner or client. It reflects the monetization of specialized infrastructure and operational preparedness rather than the direct sale of finished therapeutic products. This revenue stream is typically associated with long-term strategic partnerships or government contracts that prioritize supply chain security and manufacturing agility.