Moderna Inc

MRNA: XNAS (USA)

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Moderna Earnings: Slowing Cash Burn Despite Lower Covid Vaccine Demand

Karen Andersen

Nov 6, 2025

Moderna reported third-quarter $1 billion in revenue (45% decline) and a $200 million net loss. Management updated full-year guidance, including narrowed revenue guidance and lower cost of sales and operating expenses, resulting in a higher expected $6.5 billion-$7.0 billion year-end cash balance.

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Moderna Inc

Moderna Earnings: Slowing Cash Burn Despite Lower Covid Vaccine Demand

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