Moderna, Inc.

MRNA · Nasdaq · ·

Compare

$223.22-3.5%Nov 13 close

Figures through September 30, 2026, from the 10-Q filed November 6, 2026

1W: -12.2%
1M: -5.6%

Moderna, Inc. (MRNA) stock — is it a good business? — InspectStocks

Moderna, Inc.

MRNA · Nasdaq · ·

Compare

$223.22-3.5%Nov 13 close

Figures through September 30, 2026, from the 10-Q filed November 6, 2026

1W: -12.2%
1M: -5.6%

Just reported

Q3 2026 results

From Moderna's results release of November 6, 2026; its quarterly report has since been filed.

Revenue
Actual
$1.31B
+29% y/y
Guided
—
No guide given
EPS, GAAP
Actual
$0.38
Guided
—
No guide given
Operating income, GAAP
Actual
$130M
Guided
—
No guide given

Set against the company's own guidance and the same quarter a year earlier, not analysts' estimates, which we do not hold. Adjusted figures are the company's own non-GAAP measures, as stated in the release.

How it makes money

COVID-19 vaccine sales, including Spikevax and mNEXSPIKE93%
Payments for manufacturing capacity4%
Government and other grants1%
Collaboration revenue1%
Licensing and royalties1%
RSV vaccine sales, including mRESVIA0%

Shares of revenue are estimates for year ended 2025-12-31, not figures from a filing.

Competes with

What it sells6

Spikevax
A COVID-19 vaccine updated to target circulating virus variants.
mNEXSPIKE
A COVID-19 vaccine that uses a lower mRNA dose than Spikevax and focuses the immune response on key parts of the virus.
mRESVIA
An RSV vaccine for older adults and certain adults at increased risk of severe RSV illness.

Show 3 more

mFLUSIVA
An influenza vaccine approved in the United States and Canada for adults aged 50 and older; commercial sales began in September 2026.
mCOMBRIAX
A vaccine combining protection against influenza and COVID-19, authorized in Europe and Canada for adults aged 50 and older; it had not been commercialized by September 30, 2026.
Intismeran autogene (mRNA-4157)
An investigational personalized cancer treatment designed around mutations in an individual patient's tumor; it is being developed with Merck alongside pembrolizumab.

Who buys it4

Wholesalers and distributors, which are the main route for sales in the United States.
Retail pharmacies, health care providers and government entities, which also buy vaccines in the United States.
Governments and international organizations that purchase vaccines.
Governments in the United Kingdom, Canada and Australia, which have multi-year commitments to purchase mRNA products.

What it stands on, and what could break it

What the business leans on

1COVID-19 vaccine sales made up 93.1% of revenue in 2025, tying revenue closely to demand for those vaccines.
2Vaccine sales are seasonal and depend on public health recommendations, changes in circulating viruses and whether people choose to get vaccinated.
3Some materials and manufacturing processes rely on single-source suppliers, and the company also uses outside manufacturers and suppliers.
4Intismeran autogene is being developed with Merck, with development costs and potential profits or losses generally shared equally.
5Vaccine products can require cold storage and careful shipping.

What could go wrong

1Demand for seasonal vaccines can change with public health recommendations, virus circulation, customer orders and willingness to vaccinate; these changes can affect sales.
2Clinical trials and regulatory reviews may delay or prevent approval of new vaccines and treatments; the influenza vaccine mRNA-1010 had faced a regulatory filing setback before its amended application was accepted for review.
3Manufacturing or supply problems, including supplier interruptions, product-release issues or failures to maintain required shipping and storage conditions, could delay or limit product supply.

Full financial statements →

About Moderna, Inc.

Moderna makes vaccines using messenger RNA (mRNA), which gives cells instructions to make a protein that can help prevent or treat disease. It also develops mRNA-based treatments, including a personalized cancer treatment being developed with Merck and treatments for rare inherited diseases. As of September 30, 2026, it had five approved products, though its flu-plus-COVID vaccine had not yet been commercialized.

Head office: Cambridge, Massachusetts
Founded: 2010
Listed on: Nasdaq
Financial year ends: December 31

Built from Moderna, Inc.’s own filings with the U.S. Securities and Exchange Commission (SEC). Figures are as reported, with per-share history restated onto today’s share basis. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.

Just reported

Q3 2026 results

From Moderna's results release of November 6, 2026; its quarterly report has since been filed.

Revenue
Actual
$1.31B
+29% y/y
Guided
—
No guide given
EPS, GAAP
Actual
$0.38
Guided
—
No guide given
Operating income, GAAP
Actual
$130M
Guided
—
No guide given

Keep exploring

The themes Moderna is part of, the highest-graded companies in its industry, and the companies in its sector whose grade rose recently.

The theme it is part of

Highest-graded in Biotechnology

Graded A or B and worth $2B or more: A first, then the largest.

Grade rose recently in Healthcare

Rose to A or B on a filing in the last 90 days, worth $2B or more: largest first.

How it makes money

COVID-19 vaccine sales, including Spikevax and mNEXSPIKE93%
Payments for manufacturing capacity4%
Government and other grants1%
Collaboration revenue1%
Licensing and royalties1%
RSV vaccine sales, including mRESVIA0%

Shares of revenue are estimates for year ended 2025-12-31, not figures from a filing.

Competes with

What it sells6

Spikevax
A COVID-19 vaccine updated to target circulating virus variants.
mNEXSPIKE
A COVID-19 vaccine that uses a lower mRNA dose than Spikevax and focuses the immune response on key parts of the virus.
mRESVIA
An RSV vaccine for older adults and certain adults at increased risk of severe RSV illness.

Show 3 more

mFLUSIVA
An influenza vaccine approved in the United States and Canada for adults aged 50 and older; commercial sales began in September 2026.
mCOMBRIAX
A vaccine combining protection against influenza and COVID-19, authorized in Europe and Canada for adults aged 50 and older; it had not been commercialized by September 30, 2026.
Intismeran autogene (mRNA-4157)
An investigational personalized cancer treatment designed around mutations in an individual patient's tumor; it is being developed with Merck alongside pembrolizumab.

Who buys it4

Wholesalers and distributors, which are the main route for sales in the United States.
Retail pharmacies, health care providers and government entities, which also buy vaccines in the United States.
Governments and international organizations that purchase vaccines.
Governments in the United Kingdom, Canada and Australia, which have multi-year commitments to purchase mRNA products.

What it stands on, and what could break it

What the business leans on

1COVID-19 vaccine sales made up 93.1% of revenue in 2025, tying revenue closely to demand for those vaccines.
2Vaccine sales are seasonal and depend on public health recommendations, changes in circulating viruses and whether people choose to get vaccinated.
3Some materials and manufacturing processes rely on single-source suppliers, and the company also uses outside manufacturers and suppliers.
4Intismeran autogene is being developed with Merck, with development costs and potential profits or losses generally shared equally.
5Vaccine products can require cold storage and careful shipping.

What could go wrong

1Demand for seasonal vaccines can change with public health recommendations, virus circulation, customer orders and willingness to vaccinate; these changes can affect sales.
2Clinical trials and regulatory reviews may delay or prevent approval of new vaccines and treatments; the influenza vaccine mRNA-1010 had faced a regulatory filing setback before its amended application was accepted for review.
3Manufacturing or supply problems, including supplier interruptions, product-release issues or failures to maintain required shipping and storage conditions, could delay or limit product supply.

Full financial statements →

About Moderna, Inc.

Head office: Cambridge, Massachusetts
Founded: 2010
Listed on: Nasdaq
Financial year ends: December 31

Moderna, Inc.

Moderna, Inc.

Q3 2026 results

Revenue

EPS, GAAP

Operating income, GAAP

How it makes money

Competes with

What it sells6

Who buys it4

What it stands on, and what could break it

What the business leans on

What could go wrong

About Moderna, Inc.

Q3 2026 results

Revenue

EPS, GAAP

Operating income, GAAP

Keep exploring

The theme it is part of

Highest-graded in Biotechnology

Grade rose recently in Healthcare

How it makes money

Competes with

What it sells6

Who buys it4

What it stands on, and what could break it

What the business leans on

What could go wrong

About Moderna, Inc.

Keep exploring

The theme it is part of

Highest-graded in Biotechnology

Grade rose recently in Healthcare

Biotech

Growth & cash — 3 of 5

Business trend

Share price and grade over time