Moderna's Q2 Revenue Hits $145M, Net Loss Narrows 5% as Full-Year Outlook Improves

Moderna reported second-quarter 2026 revenue of $145 million, up 2% year-over-year, according to an SEC 8-K filing.

📊 Price at time of writing (Aug 1, 2026, 01:09 AM KST)
$56.78 ▼ -1.97%

Q2 Results at a Glance

Moderna's second-quarter revenue edged higher, but the company remained unprofitable. Net loss came in at $800 million, down 5% from the same period last year. Cost of revenue fell 22% to $93 million, while R&D spending dropped 7% to $651 million. The revenue increase was driven by long-term supply agreements with foreign governments, including the U.K., and expanded contract manufacturing income, which offset lower COVID-19 vaccine sales in the U.S. and Latin America. Cash and investments totaled $6.9 billion as of June 30, down from $7.5 billion at the end of March. Moderna said it separately paid a $950 million litigation settlement in July.

• Revenue: $145 million, up 2% from $142 million in the year-ago quarter
• Loss per share (EPS): -$1.97, improved from -$2.13 a year earlier
• Net loss: $800 million, down 5% (a decrease of $43 million) from the year-ago quarter

Full-Year Outlook

Moderna maintained its prior guidance for 2026 revenue to grow by up to 10% over 2025. The company expects about 55% of second-half revenue to land in the third quarter. Full-year cost of revenue guidance was lowered from $1.8 billion to $1.7 billion, which includes a one-time $900 million charge for the litigation settlement. R&D spending guidance was also cut from $3.0 billion to $2.9 billion, while SG&A expenses are expected to be around $1.0 billion. The company raised its year-end cash forecast to a range of $4.7 billion to $5.2 billion, about $200 million higher than its previous guidance. CEO Stéphane Bancel said, 'We are preparing for U.S. approval of our seasonal flu vaccine, mFLUSIVA, in the second half of 2026.'

Market Reaction

Moderna shares were trading at $56.78, down 1.97% from the previous close, as of 1:09 AM KST on August 1, when this article was written. International outlets reported that the results beat market expectations, driven by strong COVID-19 vaccine sales. However, sentiment was weighed down by an interim analysis of the Phase 3 trial for norovirus vaccine candidate mRNA-1403, which failed to meet criteria for early success. The seasonal flu vaccine mFLUSIVA, which received a unanimous recommendation for approval from a U.S. advisory committee, awaits a final regulatory decision on August 5.

Revenue by Region

• U.S.: $87 million
• International: $58 million

This article was automatically generated based on the original SEC 8-K filing and international media reports, with the goal of delivering key data quickly after disclosure. Readers are advised to review the company's official filing before making trading decisions. Stock prices reflect the time of writing and may differ from current levels.