What is Moderna's total revenue?

Moderna (MRNA) reported total revenue of $389M in Q1 2026.

How has Moderna's total revenue changed year-over-year?

Moderna's total revenue increased by 260.2% year-over-year, from $108M to $389M.

What is the long-term trend for Moderna's total revenue?

Over 4 years (2021 to 2025), Moderna's total revenue has grown at a -43.0% compound annual growth rate (CAGR), from $18.47B to $1.94B.

What does total revenue mean?

The aggregate of all revenue from the company's operations — the top line from which all profitability metrics are derived.

Moderna MRNA Total Revenue

Total Revenue at other companies

PfizerPFE

$14.45B+5.4%

NovavaxNVAX

$139.51M-79.1%

ALN

Alnylam PharmaceuticalsALNY

$1.17B+96.4%

Ultragenyx PharmaceuticalRARE

$136M-2.2%

Viridian Therapeutics, Inc.VRDN

$141K+95.8%

Gilead SciencesGILD

$6.96B+4.4%

Segments

By product

See full

Stand-ready manufacturing revenue$32M+167%

Collaboration Arrangement, Including Arrangements With Affiliate$5M+400%

Grant revenue$0-100%

Licensing and royalty revenue$0-100%

By geography

See full

Rest of world$692M-18.9%

Europe$53M-91.1%

Other financials

Income statement

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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

See full

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

See full

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 total revenue?: Moderna (MRNA) reported total revenue of $389M in Q1 2026.
How has Moderna's total revenue changed year-over-year?: Moderna's total revenue increased by 260.2% year-over-year, from $108M to $389M.
What is the long-term trend for Moderna's total revenue?: Over 4 years (2021 to 2025), Moderna's total revenue has grown at a -43.0% compound annual growth rate (CAGR), from $18.47B to $1.94B.
What does total revenue mean?: The aggregate of all revenue from the company's operations — the top line from which all profitability metrics are derived.