Moderna (MRNA) EBITDA (2017 - 2026)

Moderna's (MRNA) quarterly EBITDA came in at -$1.4 billion in Q1 2026, down 32.19% year-on-year from -$2.0 billion in Q1 2025, and down 61.96% on a QoQ basis from -$857.0 million in Q4 2025.

Moderna (MRNA) EBITDA (2017 - 2026) Analysis & Trends

Moderna (MRNA) has 10 years of EBITDA data on file, last reported at -$1.4 billion in Q1 2026.

  • On a quarterly basis, EBITDA fell 32.19% year-over-year to -$1.4 billion in Q1 2026; TTM through Mar 2026 was -$3.4 billion, a 8.5% increase from a year earlier, with the FY2025 full-year figure at -$3.1 billion, up 22.08% from the prior year.
  • EBITDA for Q1 2026 stood at -$1.4 billion, down from -$857.0 million in the prior quarter.
  • Over the last five years, EBITDA for MRNA reached as high as $4.2 billion in Q1 2022 and fell as low as -$2.0 billion in Q3 2023.
  • Historically, EBITDA has averaged -$189.8 million across 5 years, with a median of -$857.0 million in 2025.
  • Across the five-year window, EBITDA surged 233.89% in 2022 and plunged 20866.67% in 2024, its largest moves.
  • Year by year, EBITDA stood at $1.6 billion in 2022, then sank by 99.62% to $6.0 million in 2023, then plunged by 20866.67% to -$1.2 billion in 2024, then jumped by 31.22% to -$857.0 million in 2025, then tumbled by 61.96% to -$1.4 billion in 2026.
  • Per Business Quant data, the three most recent EBITDA figures were -$1.4 billion in Q1 2026, -$857.0 million in Q4 2025, and -$260.0 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) EBITDA (Qtr)
1 Oculis Holding AG 68,785.72 Bn 68,785.72 Bn - -27.75 Mn
2 Nanobiotix 1,895.57 Bn 1,895.51 Bn - -
3 BeOne Medicines 471.35 Bn 466.56 Bn 1.35 Bn 249.90 Mn
4 NuCana 279.75 Bn 279.75 Bn - -3.72 Mn
5 Vertex Pharmaceuticals 120.24 Bn 113.00 Bn 2.59 Bn 1.14 Bn
6 Regeneron Pharmaceuticals 67.80 Bn 59.04 Bn 3.31 Bn 642.90 Mn
7 Belite Bio 62.51 Bn 62.51 Bn - -32.68 Mn
8 Argenx Se 57.38 Bn 57.38 Bn 1.41 Bn 493.00 Mn
9 Revolution Medicines 37.78 Bn 37.78 Bn - -445.22 Mn
10 Moderna 22.52 Bn 17.32 Bn -566.00 Mn -1.39 Bn

Historic Data

Download Data
DateValue
Mar 31, 2026 -1.39 Bn
Dec 31, 2025 -857.00 Mn
Sep 30, 2025 -260.00 Mn
Jun 30, 2025 -907.00 Mn
Mar 31, 2025 -1.05 Bn
Dec 31, 2024 -1.25 Bn
Sep 30, 2024 -70.00 Mn
Jun 30, 2024 -1.36 Bn
Mar 31, 2024 -1.27 Bn
Dec 31, 2023 6.00 Mn
Sep 30, 2023 -2.01 Bn
Jun 30, 2023 -1.87 Bn
Mar 31, 2023 -366.00 Mn
Dec 31, 2022 1.58 Bn
Sep 30, 2022 1.17 Bn
Jun 30, 2022 2.45 Bn
Mar 31, 2022 4.23 Bn
Dec 31, 2021 5.41 Bn
Sep 30, 2021 3.56 Bn
Jun 30, 2021 3.06 Bn