Moderna, Inc.: Beat — EPS $0.38, Revenue $1.31B
Earnings BeatQ3 2026 · Pre-market
Did Moderna, Inc. (MRNA) beat earnings today?
Yes, Moderna, Inc. (MRNA) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+130.40% surprise
$0.38Actual
Expected: -$1.25
vs. year ago +174.5%
Total Revenue+47.49% surprise
$1.31BActual
Expected: $890.22M
vs. year ago +29.0%
Released Nov 06 · 6:45 AM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $1.31B | $1.02B | +29.0% |
| Revenue detail — reported lines | |||
| └─Net product sales | $1.27B | $973.00M | +30.8% |
| └─Other revenue | $40.00M | $43.00M | -7.0% |
| Net income | $162.00M | $ (200) million | - |
| Basic EPS | $ 0.40 | $ (0.51) | - |
| Diluted EPS | $ 0.38 | $ (0.51) | - |
Financial Outlook / Guidance
| Metric | FY26 Outlook | |
|---|---|---|
| Guidance | Expected | |
| Revenue Growth | 15%-25% (prev. up to 10% | — |
| Cost of sales | ~$1.7B (includes ~$0.9B non-recurring litigation settlement charge | $2.1BMiss -19.05% |
| Research and development expenses | ~$2.7B (prev. ~$2.9B | — |
| Selling, general and administrative expenses | ~$1.0B (prev. ~$1.0B | — |
| Capital expenditures | ~$0.2B (prev. ~$0.2B-$0.3B | — |
| Cash and investments | ~$8.1B-$8.3B (prev. ~$4.7B-$5.2B | — |
FY26 Outlook
- Revenue Growth
- Guidance15%-25%(prev. up to 10%Expected—
- Cost of sales
- Guidance~$1.7B(includes ~$0.9B non-recurring litigation settlement chargeExpected$2.1BMiss -19.05%
- Research and development expenses
- Guidance~$2.7B(prev. ~$2.9BExpected—
- Selling, general and administrative expenses
- Guidance~$1.0B(prev. ~$1.0BExpected—
- Capital expenditures
- Guidance~$0.2B(prev. ~$0.2B-$0.3BExpected—
- Cash and investments
- Guidance~$8.1B-$8.3B(prev. ~$4.7B-$5.2BExpected—
Business Highlights
- ➤Received U.S. FDA approval for mFLUSIVA for adults aged 50-64 and accelerated approval for ages 65-plus.
- ➤Conducting a limited U.S. mFLUSIVA launch for the 2026-2027 influenza season.
- ➤Received Canadian approval for mFLUSIVA.
- ➤Received Canadian approval for mCOFLU following European Union approval of mCOMBRIAX.
- ➤mCOFLU remains under review in Japan, the United Kingdom and Australia.
- ➤Presented positive Phase 3 INTerpath-001 melanoma results with Merck at ESMO 2026.
- ➤Working with Merck toward regulatory submissions and a potential intismeran commercial launch.
- ➤Propionic acidemia registrational study reached target enrollment; pivotal data expected in 2026.
- ➤Appointed Juan Andres as Chief Operating Officer, effective October 5, 2026.
- ➤Completed a convertible senior notes offering totaling approximately $3.0 billion principal amount.
- ➤Settled all pending U.S. and European disputes with GSK and granted infectious-disease patent cross-licenses.
- ➤Named to Fortune's 2026 Change the World list and Science's Top Employers survey for the twelfth consecutive year.
Management Commentary
Stéphane Bancel, Chief Executive Officer of Moderna
“We delivered 29% revenue growth in the third quarter, alongside the U.S. approval of mFLUSIVA, our fifth approved product globally, and positive Phase 3 results for intismeran in melanoma.”
Stéphane Bancel, Chief Executive Officer of Moderna
“Building on this momentum, we increased our full-year revenue growth outlook to 15%-25%, while continuing to reduce costs and strengthen our balance sheet. Looking ahead, we anticipate additional intismeran readouts, pivotal data in propionic acidemia and further regulatory approvals as we advance our pipeline and build a more diversified company.”