Filing Flows › Moderna (MRNA) › R&D spending
Moderna (MRNA) R&D spending by quarter
Moderna's R&D spending was $583M in Q3 2026 (third quarter 2026), -10% from Q2 2026. Over the last 7 quarters it ranged from $583M (Q3 2026) to $856M (Q1 2025).
| Quarter | R&D spending | Q/Q | Y/Y |
|---|---|---|---|
| Q3 2026 | $583M | -10% | -27% |
| Q2 2026 | $651M | +0.3% | -7% |
| Q1 2026 | $649M | -16% | -24% |
| Q4 2025 | $775M | -3% | — |
| Q3 2025 | $801M | +14% | — |
| Q2 2025 | $700M | -18% | — |
| Q1 2025 | $856M | — | — |
Q3 2026 at a glance
Moderna, Q3 2026: revenue $1.3B (+29% year over year), operating margin 9.9%, net earnings $162M, operating cash flow −$1.6B. The chart follows the revenue to costs, profit and cash.
Questions
What is Moderna's R&D spending?
Moderna's R&D spending was $583M in Q3 2026 (third quarter 2026), -10% from Q2 2026.
How has Moderna's R&D spending changed?
Over the last 7 quarters it ranged from $583M (Q3 2026) to $856M (Q1 2025).