Moderna (MRNA) Operating Income (2017 - 2026)
Moderna (MRNA) posted quarterly Operating Income of -$815.0 million for Q2 2026, up 10.14% year-over-year from -$739.9 million in Q2 2025, and up 41.28% on a QoQ basis from -$1.4 billion in Q1 2026.
Moderna (MRNA) Operating Income (2017 - 2026) Analysis & Trends
Moderna has reported Operating Income for 10 years, with the latest figure at -$815.0 million in Q2 2026.
- Operating Income for Q2 2026 came in at -$815.0 million, up 10.14% year-over-year; the trailing twelve-month figure through Jun 2026 was -$3.3 billion (down 1.44% YoY), and the FY2025 annual result was -$3.1 billion, up 22.08% from the prior year.
- Operating Income grew to -$815.0 million in Q2 2026, from -$1.4 billion in the prior quarter.
- Over five years, Operating Income peaked at $4.2 billion in Q1 2022 and troughed at -$2.0 billion in Q3 2023.
- A 5-year average of -$224.5 million and a median of -$836.0 million in 2025 frame the typical range for Operating Income.
- The widest annual swing landed in 2022, when Operating Income surged 233.89%; it then slumped 20866.67% in 2024.
- A 5-year view of Operating Income shows it stood at $1.6 billion in 2022, then tumbled by 99.62% to $6.0 million in 2023, then slumped by 20866.67% to -$1.2 billion in 2024, then surged by 31.22% to -$857.0 million in 2025, then gained by 4.9% to -$815.0 million in 2026.
- Per Business Quant data, the three most recent Operating Income figures were -$815.0 million in Q2 2026, -$1.4 billion in Q1 2026, and -$857.0 million in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Op. Inc (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 137.11 Bn | 129.26 Bn | 2.84 Bn | 1.25 Bn |
| 2 | Regeneron Pharmaceuticals | 84.98 Bn | 76.99 Bn | 3.93 Bn | 1.29 Bn |
| 3 | Argenx Se | 64.52 Bn | 59.33 Bn | 1.37 Bn | 493.00 Mn |
| 4 | Moderna | 53.23 Bn | 48.09 Bn | 52.00 Mn | -815.00 Mn |
| 5 | BeOne Medicines | 41.23 Bn | 36.14 Bn | 1.53 Bn | 325.05 Mn |
| 6 | Alnylam Pharmaceuticals | 30.65 Bn | 27.34 Bn | 992.69 Mn | 231.44 Mn |
| 7 | Insmed | 27.15 Bn | 25.99 Bn | 358.27 Mn | -1.55 Mn |
| 8 | Royalty Pharma | 26.98 Bn | 26.14 Bn | - | 133.12 Mn |
| 9 | BioNTech SE | 26.78 Bn | 8.39 Bn | 668.28 Mn | -375.75 Mn |
| 10 | Roivant Sciences | 26.52 Bn | 26.52 Bn | 1.16 Mn | -365.99 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | -815.00 Mn |
| 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 |