---
schema_version: "secwatch.filing_event.v1"
accession: "0001682852-25-000031"
form_type: "8-K"
ticker: "MRNA"
cik: "0001682852"
company_name: "Moderna, Inc."
filed_at: "2025-05-01T23:59:59+00:00"
generated_at: "2026-05-23T00:42:26.633917+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Moderna Q1 net loss $1.0B, revenue $108M; reiterates 2025 revenue guidance $1.5-2.5B

## Summary
- Q1 2025 revenue $108M (down 35% YoY); GAAP net loss $(1.0)B, EPS $(2.52).
- Reiterates 2025 revenue guidance $1.5-2.5B; expects H1 revenue ~$0.2B due to seasonality.
- Announces cost-cutting plan: reduce GAAP operating costs by $1.4-1.7B by 2027; new 2027 estimate $4.7-5.0B.
- Pipeline milestones: next-gen COVID vaccine PDUFA May 31; RSV vaccine PDUFA June 12; flu/COVID combo approval targeted 2026.
- Cash and investments $8.4B at March 31 (down from $9.5B at Dec 31); expects year-end ~$6B.

## SEC filing metadata
- accession: 0001682852-25-000031
- form_type: 8-K
- ticker: MRNA
- cik: 0001682852
- company_name: Moderna, Inc.
- filed_at: 2025-05-01T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1682852/000168285225000031/0001682852-25-000031-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1682852/000168285225000031/mrna-20250501.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001682852-25-000031
- JSON: https://secwatch.observer/filing/0001682852-25-000031.json
- Plain text: https://secwatch.observer/filing/0001682852-25-000031.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.