Moderna Q3 net loss $200M, revenue $1.0B down 45% YoY; narrows 2025 guidance

Moderna, Inc.

2025-Q3 EPS reported -$5.15 revenue$1,266,000,000

Q3 revenue $1.0B (down 45% YoY); net loss $(0.51)/share vs. EPS $0.03 in Q3 2024.
2025 revenue range narrowed to $1.6-2.0B; GAAP opex cut by $0.7B to $5.2-5.4B.
Year-end cash target raised by $0.5-1.0B to $6.5-7.0B; Q3-end cash $6.6B.
COVID vaccine sales $971M; RSV mRESVIA sales $2M; mNEXSPIKE launched in US.
Discontinues congenital CMV program after Phase 3 missed primary endpoint; norovirus study extends.

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