Earnings Releases·Nov 6, 2026, 6:47 AM ET

Moderna — Third Quarter 2026 Earnings Summary

Q3 2026 revenue reached $1.3 billion, a 29% year-over-year increase, with GAAP net income of $0.2 billion ($0.38 EPS) reversing a $200 million net loss from the prior year period.
Full-year 2026 revenue growth guidance was raised to 15%–25% (previously up to 10%), while GAAP operating expenses were reduced by approximately $0.2 billion and capital expenditures lowered to $0.2 billion.
The company raised $2.6 billion in net proceeds from convertible notes issuance, increasing year-end cash and investments outlook to $8.1–$8.3 billion, partially offset by a $950 million litigation settlement payment.
Strategic pipeline progress includes U.S. FDA approval for mFLUSIVA, positive Phase 3 results for intismeran in melanoma, and registrational enrollment completion for propionic acidemia, though the Norovirus vaccine program failed Phase 3 interim criteria.
Leadership changes include the appointment of Juan Andres as Chief Operating Officer and a new patent cross-license agreement with GSK resolving all infectious disease disputes with no payment obligations.