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Moderna (MRNA) Research & Development (2018 - 2025)

Moderna (MRNA) has disclosed Research & Development for 8 consecutive years, with $775.0 million as the latest value for Q4 2025.

  • On a quarterly basis, Research & Development fell 30.93% to $775.0 million in Q4 2025 year-over-year; TTM through Dec 2025 was $3.1 billion, a 31.06% decrease, with the full-year FY2025 number at $3.1 billion, down 31.06% from a year prior.
  • Research & Development was $775.0 million for Q4 2025 at Moderna, down from $801.0 million in the prior quarter.
  • In the past five years, Research & Development ranged from a high of $1.4 billion in Q4 2023 to a low of $401.0 million in Q1 2021.
  • A 5-year average of $890.3 million and a median of $838.0 million in 2022 define the central range for Research & Development.
  • Peak YoY movement for Research & Development: surged 248.7% in 2021, then plummeted 42.67% in 2025.
  • Moderna's Research & Development stood at $648.0 million in 2021, then soared by 86.88% to $1.2 billion in 2022, then rose by 16.1% to $1.4 billion in 2023, then dropped by 20.2% to $1.1 billion in 2024, then crashed by 30.93% to $775.0 million in 2025.
  • Per Business Quant, the three most recent readings for MRNA's Research & Development are $775.0 million (Q4 2025), $801.0 million (Q3 2025), and $700.0 million (Q2 2025).