The financials
Moderna by the numbers
Moderna (MRNA) reported revenue of $145M in Q2 2026 (quarter ended Jun 30, 2026), up 2.1% from the same quarter a year earlier. That came with a gross margin of 36% and net loss of $782M. For the full year FY2025, revenue was $1.94B (−40% year on year) and net income −$2.82B. Its largest product in Q2 2026 was COVID19 at $91M, 63% of the disclosed total, well ahead of Stand Ready Manufacturing at 21%.
| Income statement | Q2 2026 | Q2 2025 | Change |
|---|---|---|---|
| Revenue | $145M | $142M | +2.1% |
| Gross profit | $52M | $23M | +126% |
| Operating income | −$815M | −$907M | n/a |
| Net income | −$782M | −$825M | n/a |
| Diluted EPS | −$1.97 | −$2.13 | n/a |
| Product | Revenue | Share |
|---|---|---|
| COVID19 | $91M | 63% |
| Stand Ready Manufacturing | $31M | 21% |
| Collaboration Arrangement Including Arrangements With Affiliate | $15M | 10% |
| License And Royalty | $3.0M | 2.1% |
| RSV | $3.0M | 2.1% |
| Grant | $2.0M | 1.4% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Q2 2026Total $145.0M (-63%)
Collaboration Arrangement Including Arrangements With Affiliate grew +275% year on yearGrant -60% year on year
Segment Latestquarter on quarteryear on year
- COVID19$91.0M$91.0MQoQ -74%year on year -20%-74%-20%
- Stand Ready Manufacturing$31.0M$31.0MQoQ -3.1%year on year +82%-3.1%+82%
- Collaboration Arrangement Including Arrangements With Affiliate$15.0M$15.0MQoQ +200%year on year +275%+200%+275%
- License And Royalty$3.0M$3.0MQoQ -year on year +50%-+50%
- RSV$3.0M$3.0MQoQ -57%year on year --57%-
- Grant$2.0M$2.0MQoQ -year on year -60%--60%
Biotechnology
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