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Moderna income statement

In fiscal 2025, Moderna reported revenue of $1.94bn, down 39.9% on the year before, operating income of −$3.07bn (a -158.1% margin) and net income of −$2.82bn, or −$7.26 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Revenue0.10.20.10.10.818.519.36.83.21.92.2
Cost of revenue——0.00.00.02.65.44.71.50.91.7
Gross profit——0.10.10.815.913.82.21.81.10.5
Research and development0.30.40.50.51.42.03.34.84.53.12.9
General and administrative0.10.10.10.10.20.61.11.51.21.01.0
Operating income−0.2−0.3−0.4−0.5−0.813.39.4−4.2−3.9−3.1−3.3
Income before tax−0.2−0.3−0.4−0.5−0.713.39.6−3.9−3.6−2.8−3.1
Income tax0.0−0.00.0−0.00.01.11.20.8−0.00.10.1
Net income−0.2−0.3−0.4−0.5−0.712.28.4−4.7−3.6−2.8−3.2
Diluted EPS−$0.95−$1.04−$1.24−$1.55−$1.96$28.29$20.12−$12.33−$9.28−$7.26−$8.00
Diluted shares (average)243m258m324m331m381m431m416m382m384m389m394m
EBITDA−0.2−0.2−0.4−0.5−0.713.59.8−3.6−3.8−2.9−3.1

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Moderna's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Moderna.