Every 10-Q that Moderna, Inc. (MRNA) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow MRNA and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MRNA filings page.
Moderna reported second-quarter 2026 revenue of $145 million, roughly flat year over year, as net product sales fell to $94 million on lower COVID demand, offset by higher stand-ready manufacturing and collaboration revenue. The quarter’s net loss was $782 million, or $(1.97) per share.
For the first six months of 2026, revenue rose 114% to $534 million, driven by higher international COVID vaccine sales, but cost of sales jumped 401% to $1,048 million, largely from $884 million of royalties tied to a $950 million settlement with Arbutus and Genevant. This contributed to a six‑month net loss of $2,125 million and $79 million of inventory write-downs.
R&D and selling, general and administrative expenses declined versus 2025 as late-stage programs wound down and costs were tightened, while the pipeline advanced: EU approval for mCOMBRIAX, a positive FDA advisory vote for flu vaccine mRNA‑1010 (PDUFA August 5, 2026), an expanded CEPI partnership of up to $50 million, and a Recordati deal with a $50 million upfront for mRNA‑3927. Liquidity remained significant with $6,910 million in cash and investments plus a $600 million term loan and undrawn delayed-draw capacity, though a $950 million settlement payment and potential additional exposure of up to $1.3 billion and ongoing litigation remain key overhangs.
Moderna reported a sharply wider net loss for Q1 2026 as a major legal settlement overshadowed strong vaccine revenue growth. Total revenue rose to $389 million from $108 million, driven by higher COVID vaccine sales, especially in Europe, and increased stand-ready manufacturing revenue.
Net loss deepened to $1.343 billion, or $(3.40) per share, mainly because cost of sales jumped to $955 million, including about $878 million of royalty and settlement-related expenses tied to resolving global litigation with Arbutus and Genevant. R&D and SG&A both declined year over year as the company tightened spending.
Moderna ended the quarter with $7.456 billion in cash, cash equivalents and investments and a long-term term loan of $600 million. It also signed a $50 million propionic acidemia collaboration with Recordati, continued to receive influenza program funding from Blackstone, and secured European Commission approval for its mCOMBRIAX flu–COVID combination vaccine.
Moderna (MRNA) reported Q3 2025 results with total revenue of $1,016 million, driven by net product sales of $973 million and other revenue of $43 million. The company posted a net loss of $200 million (basic and diluted EPS $(0.51)), compared with net income of $13 million a year ago. For the nine months, revenue was $1,266 million and net loss was $1,996 million.
U.S. sales led results, contributing $782 million in the quarter. By product, COVID vaccines accounted for $971 million and RSV for $2 million. Cost of sales was $207 million, and R&D expense was $801 million as Moderna advances its pipeline and commercial portfolio. Cash and cash equivalents were $1,132 million, with current marketable securities of $3,372 million and non‑current marketable securities of $2,143 million.
Inventory write-downs declined to $67 million in Q3 (from $214 million in Q3 2024). Deferred revenue totaled $320 million as of September 30, 2025. The company launched commercial sales of mNEXSPIKE in Q3 2025 and continues to recognize reductions to influenza program R&D from its funding arrangement with Blackstone.