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Moderna (MRNA) Operating Expenses (2017 - 2026)

Moderna (MRNA) has disclosed Operating Expenses for 10 consecutive years, with $1.8 billion as the latest value for Q1 2026.

  • For Q1 2026, Operating Expenses rose 53.45% year-over-year to $1.8 billion; the TTM value through Mar 2026 reached $5.6 billion, down 18.38%, while the annual FY2025 figure was $5.0 billion, 30.12% down from the prior year.
  • Operating Expenses hit $1.8 billion in Q1 2026 for Moderna, up from $1.5 billion in the prior quarter.
  • Across five years, Operating Expenses topped out at $3.8 billion in Q3 2023 and bottomed at $1.0 billion in Q2 2025.
  • Average Operating Expenses over 5 years is $2.1 billion, with a median of $1.9 billion recorded in 2024.
  • Year-over-year, Operating Expenses surged 174.07% in 2022 and then plummeted 49.73% in 2024.
  • Moderna's 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 tumbled by 30.61% to $1.5 billion in 2025, then grew by 15.77% to $1.8 billion in 2026.
  • According to Business Quant data, Operating Expenses over the past three periods came in at $1.8 billion, $1.5 billion, and $1.3 billion for Q1 2026, Q4 2025, and Q3 2025 respectively.