Moderna Q2 2026 revenue $0.14 billion, net loss $0.78 billion
Moderna's second quarter was tiny on sales and still deeply unprofitable, but it beat expectations and improved on a year ago. Revenue of $145 million edged past last year's $142 million, EPS of -$1.97 beat the -$2.1247 consensus, and management trimmed its 2026 expense plan again. Read this as a cost-control story with a pipeline bet attached, not yet a growth story.
1 · Expected vs. Actual
Free preview belowThe GAAP net loss of $782 million, or $1.97 per share, was narrower than the $825 million lost a year earlier and better than the -$2.1247 consensus estimate. R&D fell 7% to $651 million and SG&A fell 6% to $216 million, so the improvement came from spending cuts rather than from sales. No non-GAAP EPS is given, so the only clean comparison here is GAAP to GAAP.
Revenue was $145 million, up 2.1% from $142 million a year earlier, which is effectively flat for a company this size. Product sales actually fell to $94 million from $114 million, while other revenue rose to $51 million on grants, collaborations and stand-ready manufacturing. Gross margin jumped to 35.9% from 16.2%, helped by lower unutilized manufacturing capacity costs after a 22% drop in cost of sales.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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