Moderna (MRNA) Operating Expenses (2017 - 2026)

Moderna (MRNA) has 10 years of Operating Expenses data on file, last reported at $1.8 billion in Q1 2026.

• On a quarterly basis, Operating Expenses rose 53.45% year-over-year to $1.8 billion in Q1 2026; TTM through Mar 2026 was $5.6 billion, a 18.38% decrease from a year earlier, with the FY2025 full-year figure at $5.0 billion, down 30.12% from the prior year.
• Operating Expenses for Q1 2026 stood at $1.8 billion, up from $1.5 billion in the prior quarter.
• Over the last five years, Operating Expenses for MRNA reached as high as $3.8 billion in Q3 2023 and fell as low as $1.0 billion in Q2 2025.
• Historically, Operating Expenses has averaged $2.1 billion across 5 years, with a median of $1.9 billion in 2024.
• Across the five-year window, Operating Expenses jumped 174.07% in 2022 and sank 49.73% in 2024, its largest moves.
• Year by year, Operating Expenses stood at $3.5 billion in 2022, then dropped by 19.95% to $2.8 billion in 2023, then dropped by 21.14% to $2.2 billion in 2024, then sank by 30.61% to $1.5 billion in 2025, then gained by 15.77% to $1.8 billion in 2026.
• Per Business Quant data, the three most recent Operating Expenses figures were $1.8 billion in Q1 2026, $1.5 billion in Q4 2025, and $1.3 billion in Q3 2025.