Filing Flows › Moderna (MRNA) › Q2 2026 › vs Q2 2025
Moderna (MRNA) Q2 2026 vs Q2 2025 (year over year)
Moderna's revenue rose $3.0M (+2%) from $142M in Q2 2025 to $145M in Q2 2026. The biggest changes: Other revenue +$23.0M (+82%); Net product sales −$20.0M (-18%).
Moderna, Q2 2026: revenue $145M (+2% year over year), operating margin -562.1%, net loss $782M, operating cash flow −$526M. The chart draws each line against Q2 2025, the increases inside each band.
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| COVID | $91.0M | $114M | −$23.0M | -20% |
| Stand-ready manufacturing revenue | $31.0M | $17.0M | $14.0M | +82% |
| Collaboration Arrangement, Including Arrangements with Affiliate | $15.0M | $4.0M | $11.0M | +275% |
| RSV | $3.0M | $0 | $3.0M | — |
| Licensing and royalty revenue | $3.0M | $2.0M | $1.0M | +50% |
| Grant revenue | $2.0M | $5.0M | −$3.0M | -60% |
| Net product sales | $94.0M | $114M | −$20.0M | -18% |
| Other revenue | $51.0M | $28.0M | $23.0M | +82% |
| Revenue | $145M | $142M | $3.0M | +2% |
| Other income, net | $48.0M | $89.0M | −$41.0M | -46% |
| Net loss | $782M | $825M | −$43.0M | -5% |
| Costs & expenses | $975M | $1.1B | −$81.0M | -8% |
| Operating costs | $960M | $1.0B | −$89.0M | -8% |
| Income tax | $15.0M | $7.0M | $8.0M | +114% |
| Cost of revenue | $93.0M | $119M | −$26.0M | -22% |
| Research & development | $651M | $700M | −$49.0M | -7% |
| General & admin | $216M | $230M | −$14.0M | -6% |
| Operating cash sources | $782M | $825M | −$43.0M | -5% |
| Depreciation & amortization | $56.0M | $56.0M | $0 | 0% |
| Share-based compensation | $120M | $130M | −$10.0M | -8% |
| Working capital & other | $80.0M | −$280M | $360M | — |
| Cash used in operations | $526M | $919M | −$393M | -43% |
| Net loss absorbed | $782M | $825M | −$43.0M | -5% |
Questions
How much did Moderna's revenue grow year over year in Q2 2026?
Moderna's revenue rose $3.0M (+2%) from $142M in Q2 2025 to $145M in Q2 2026.
What drove Moderna's revenue change in Q2 2026?
Other revenue +$23.0M (+82%); Net product sales −$20.0M (-18%).