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Moderna (MRNA) Operating Expenses (2017 - 2025)

Moderna (MRNA) has disclosed Operating Expenses for 9 consecutive years, with $1.5 billion as the latest value for Q4 2025.

  • On a quarterly basis, Operating Expenses fell 30.61% to $1.5 billion in Q4 2025 year-over-year; TTM through Dec 2025 was $5.0 billion, a 30.12% decrease, with the full-year FY2025 number at $5.0 billion, down 30.12% from a year prior.
  • Operating Expenses was $1.5 billion for Q4 2025 at Moderna, up from $1.3 billion in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $3.8 billion in Q3 2023 to a low of $671.0 million in Q1 2021.
  • A 5-year average of $1.9 billion and a median of $1.8 billion in 2021 define the central range for Operating Expenses.
  • Peak YoY movement for Operating Expenses: soared 583.6% in 2021, then tumbled 49.73% in 2024.
  • Moderna's Operating Expenses stood at $1.8 billion in 2021, then soared by 94.56% to $3.5 billion in 2022, then decreased by 19.95% to $2.8 billion in 2023, then decreased by 21.14% to $2.2 billion in 2024, then crashed by 30.61% to $1.5 billion in 2025.
  • Per Business Quant, the three most recent readings for MRNA's Operating Expenses are $1.5 billion (Q4 2025), $1.3 billion (Q3 2025), and $1.0 billion (Q2 2025).