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Moderna Inc (MRNA) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

HEALTHCARE · Biotechnology · DATA UPDATED 2026-09-12

Moderna Inc (MRNA) operates in the Biotechnology industry and is headquartered in Cambridge, United States with about 4,700 employees. Its market capitalization is roughly $61 billion. In the fiscal year ended 2025-12-31, MRNA reported $1.9B in revenue and ($2.8B) in net income.

Moderna, Inc., a biotechnology company, provides messenger RNA medicines in the United States, Europe, and internationally.

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MRNA Revenue & Earnings History — Annual Income Statement

Income statementTTM → 2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-31
Total Revenue$2.2B$1.9B$3.2B$6.8B$18.9B$17.7B$274M$48M$123M$206M$108M$0M$0M
Gross Profit($280M)$1.1B$1.7B$2.2B$13.5B$15.1B$267M$48M($332M)$185M$93M$0M$0M
Gross Margin %-12.6%55.4%54.2%31.5%71.3%85.2%97.1%100.0%-270.6%90.0%86.1%—100.0%
Operating Income (EBIT)($3.3B)($3.1B)($3.9B)($4.2B)$9.4B$13.3B($763M)($546M)($413M)($269M)($224M)($1M)($4M)
Operating Margin %-149.0%-158.1%-123.3%-61.9%49.9%75.0%-278.0%-1136.1%-337.3%-130.9%-206.4%—-704.0%
Net Income($3.2B)($2.8B)($3.6B)($4.7B)$8.4B$12.2B($747M)($514M)($385M)($256M)($216M)($1M)($6M)
Net Margin %-141.4%-145.2%-111.3%-68.8%44.3%68.8%-272.2%-1070.1%-314.0%-124.3%-199.5%—-1295.4%
EBITDA($2.8B)($2.6B)($3.4B)($3.3B)$10.0B$13.5B($732M)($515M)($388M)($235M)($209M)——
Earnings Per Share (EPS)$-7.99$-7.25$-9.27$-12.34$20.10$28.31$-1.96$-1.55$-4.74$-0.68$-0.58$-0.02—
Shares Outstanding (M)396M389M384M382M416M431M381M331M81M376M376M61M—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MRNA Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-30
Total Revenue$145M$389M$678M$1.0B$142M$107M$956M$1.9B
Gross Profit$52M($566M)$226M$8M$23M$17M$217M$1.3B
Gross Margin %35.9%-145.5%33.3%0.8%16.2%15.9%22.7%72.3%
Operating Income (EBIT)($815M)($1.4B)($857M)($260M)($907M)($1.1B)($1.2B)($70M)
Operating Margin %-562.1%-356.8%-126.4%-25.6%-638.7%-981.3%-130.3%-3.8%
Net Income($782M)($1.3B)($826M)($200M)($825M)($971M)($1.1B)$13M
Net Margin %-539.3%-345.2%-121.8%-19.7%-581.0%-907.5%-117.2%0.7%
EBITDA($704M)($1.3B)($732M)($135M)($760M)($924M)($1.1B)$79M
Earnings Per Share (EPS)$-1.97$-3.40$-2.11$-0.51$-2.13$-2.52$-2.91$0.03
Shares Outstanding (M)396M395M392M390M388M386M385M399M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MRNA Free Cash Flow History

Cash flowTTM → 2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-31
Cash from Operations (CFO)($1.1B)($1.9B)($3.0B)($3.1B)$5.0B$13.6B$2.0B($459M)($331M)($331M)$67M($1M)($5M)
Capital Expenditures (CapEx)$171M$192M$1.1B$707M$400M$284M$67M$32M$106M$58M$33M$0M$0M
Free Cash Flow (FCF)($1.2B)($2.1B)($4.1B)($3.8B)$4.6B$13.3B$2.0B($491M)($437M)($390M)$34M($1M)($5M)
FCF Margin %-54.9%-106.2%-126.8%-55.9%24.3%75.2%713.9%-1021.1%-356.4%-189.4%31.0%—-955.8%
Dividends Paid———$270M$184M$124M$7M——$1M$1M——

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MRNA Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-30
Cash from Operations (CFO)($526M)($630M)$951M($847M)($919M)($1.0B)$825M($1.6B)
Capital Expenditures (CapEx)$37M$62M$39M$33M$3M$127M$522M$151M
Free Cash Flow (FCF)($563M)($692M)$912M($880M)($922M)($1.2B)$303M($1.7B)
FCF Margin %-388.3%-177.9%134.5%-86.6%-649.3%-1087.9%31.7%-92.6%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MRNA Balance Sheet History

Balance sheet2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-31
Total Assets$11.0B$12.3B$14.1B$18.4B$25.9B$24.7B$7.3B$1.6B$2.0B$1.1B$1.4B$0M$9M
Cash & Cash Equivalents$1.7B$2.6B$1.9B$2.9B$3.2B$6.8B$2.6B$236M$658M$135M$50M$0M$2M
Total Liabilities$4.2B$3.7B$3.2B$4.6B$6.7B$10.5B$4.8B$415M$432M$459M$575M$0M$14M
Total Debt (Short + Long-Term)$643M$590M$37M$25M$196M$211M$30M$68M$79M$88M$38M$0M$0M
Total Shareholders' Equity$6.8B$8.7B$10.9B$13.9B$19.1B$14.1B$2.6B$1.2B$1.5B$625M$842M$0M($4M)

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive MRNA viewer.

MRNA Metric Deep Dives

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