The earnings call presented a mix of positive developments such as FDA approvals and substantial cost reductions, alongside challenges including a significant revenue decline and workforce restructuring. While there are promising advancements in the pipeline and financial discipline is evident, the financial performance and external shipment delays present notable concerns.
Company Guidance -
Q3 2025
During Moderna's Second Quarter 2025 earnings call, the company provided detailed guidance on financial performance and strategic priorities. Moderna reported Q2 revenues of $2.1 billion and a net loss of $0.8 billion, in line with expectations due to the seasonal nature of its respiratory vaccine business. The company ended the quarter with $7.5 billion in cash and investments. Notably, Moderna achieved a 35% reduction in combined cost of sales and SG&A compared to Q2 2024, and a 40% reduction in operating expenses on a cash cost basis year-over-year, amounting to $581 million. The company outlined its focus on three strategic priorities: driving use of commercial products, advancing its pipeline to drive sales growth, and executing with financial discipline. Key developments included FDA approvals for its mNEXSPIKE and mRESVIA vaccines, positive Phase III flu vaccine data, and a significant cost reduction plan, including a 10% workforce reduction to align its cost structure with business conditions. Moderna also adjusted its 2025 revenue forecast to a range of $1.5 billion to $2.2 billion, reflecting a timing shift in U.K. COVID vaccine shipments. The company remains committed to achieving a cash cost breakeven target by 2028.
FDA Approvals and Pipeline Progress
Moderna received FDA approval for mNEXSPIKE, a next-generation COVID vaccine, and mRESVIA for high-risk individuals aged 18-59. Spikevax was also approved for high-risk children aged 6 months to 11 years. Positive Phase III efficacy data for the flu vaccine was also announced.
Significant Cost Reductions
Moderna achieved a 35% reduction in cost of sales and SG&A combined compared to Q2 2024, and reduced operating expenses by $581 million year-over-year, a 40% reduction. An additional $400 million in cost reductions is expected for 2025.
Strong Cash Position
The company ended the quarter with $7.5 billion in cash and investments.
Patent Victory
The U.K. Court of Appeal upheld the decision that Moderna's EP'949 patent is valid and infringed by Pfizer and BioNTech.
Moderna (MRNA) Earnings, Revenues Date & History
The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
MRNA Earnings-Related Price Changes
Report Date
Price 1 Day Before
Price 1 Day After
Percentage Change
Aug 01, 2025
$29.56
$27.60
-6.63%
May 01, 2025
$28.54
$27.03
-5.29%
Feb 14, 2025
$31.92
$32.99
+3.35%
Nov 07, 2024
$51.81
$50.28
-2.95%
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Moderna (MRNA) report earnings?
Moderna (MRNA) is schdueled to report earning on Oct 30, 2025, Before Open (Confirmed).
What is Moderna (MRNA) earnings time?
Moderna (MRNA) earnings time is at Oct 30, 2025, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.