Moderna, Inc. (MRNA) — financial distillation
Annual history (10-K)
Quarterly history (10-Q)
Two headline lines are shown to start. Click any item in a legend to add or remove it — every figure on the chart is one the table below also carries, for the period it names.
In brief, from the full filed history
- Revenue grew from $108.4M (period ending 2016-12-31) to $1.94B (period ending 2025-12-31) — a 37.8% annual pace across 9 year(s) of filed history.
- Net margin expanded from -199.5% to -145.2% over that same span.
- Across 26 tracked quarters, the strongest was $6.07B (quarter ending 2022-03-31) and the weakest was $8.4M (quarter ending 2020-03-31).
Annual — most recent 10-K
| Line | Value | Period ends | Form | Filing |
|---|---|---|---|---|
| Revenue | $1.94B | 2025-12-31 | 10-K | 0001682852-26-000033 |
| Operating income | $-3.07B | 2025-12-31 | 10-K | 0001682852-26-000033 |
| Net income | $-2.82B | 2025-12-31 | 10-K | 0001682852-26-000033 |
| Diluted EPS | $-7.26 | 2025-12-31 | 10-K | 0001682852-26-000033 |
| Total assets | $12.34B | 2025-12-31 | 10-K | 0001682852-26-000033 |
| Total liabilities | $3.69B | 2025-12-31 | 10-K | 0001682852-26-000033 |
| Cash & equivalents | $2.60B | 2025-12-31 | 10-K | 0001682852-26-000033 |
| Operating cash flow | $-1.87B | 2025-12-31 | 10-K | 0001682852-26-000033 |
Quarterly — most recent 10-Q
| Line | Value | Period ends | Form | Filing |
|---|---|---|---|---|
| Revenue | $145.0M | 2026-06-30 | 10-Q | 0001682852-26-000150 |
| Operating income | $-815.0M | 2026-06-30 | 10-Q | 0001682852-26-000150 |
| Net income | $-782.0M | 2026-06-30 | 10-Q | 0001682852-26-000150 |
| Diluted EPS | $-1.97 | 2026-06-30 | 10-Q | 0001682852-26-000150 |
| Total assets | $10.96B | 2026-06-30 | 10-Q | 0001682852-26-000150 |
| Total liabilities | $4.20B | 2026-06-30 | 10-Q | 0001682852-26-000150 |
| Cash & equivalents | $1.72B | 2026-06-30 | 10-Q | 0001682852-26-000150 |
| Operating cash flow | $-630.0M | 2026-03-31 | 10-Q | 0001682852-26-000060 |
Reading
The figures above are taken directly from filings with the U.S. Securities and Exchange Commission. The reading below was generated by a local language model from only those figures; it introduces no numbers of its own. It is not investment advice.
Moderna, Inc. (MRNA) operates primarily in the biotechnology sector, focusing on messenger RNA (mRNA) therapeutics and vaccines. The company’s scale is evident from its total assets of $12.34B as of 2025-12-31, reflecting substantial investments in research, development, and manufacturing capabilities. The mix of the business leans heavily towards innovative pharmaceutical products, with revenue predominantly generated from its COVID-19 vaccine sales and other mRNA-based therapeutic candidates.
The multi-year trajectory reveals a remarkable growth story for Moderna, with annual revenues escalating from $108.4M in 2016 to a peak of $18.47B in 2021, driven by the successful commercialization of its COVID-19 vaccine. However, the company has experienced a significant slowdown since then, with revenues plummeting to $1.94B in 2025. This decline coincides with a narrowing net margin expansion from -199.5% to -145.2%, indicating improved profitability despite the overall revenue contraction.
In examining the next filing, investors should focus on Moderna’s ability to sustain its research and development efforts amidst declining revenues. Key aspects to monitor include the progress of its diverse pipeline, potential new product launches, and the company’s capacity to manage its substantial liabilities while maintaining adequate cash reserves. The volatility in quarterly performance, as evidenced by the wide range between strongest ($6.07B) and weakest ($8.4M) quarters, underscores the importance of tracking both short-term fluctuations and long-term trends for a comprehensive understanding of Moderna’s financial health.
Source: SEC EDGAR company facts for CIK 0001682852 · filings index