Overview
- Moderna reported Q4 2025 revenue of $678 million and a loss per share of $2.11, both better than Wall Street estimates.
- Full‑year 2025 sales totaled about $1.9 billion, with the U.S. accounting for more than 60% despite a steep quarter‑to‑quarter decline late in the year.
- The company maintained its target of 10% revenue growth in 2026 and forecast roughly half of sales from international markets.
- The FDA issued a refuse‑to‑file for Moderna’s mRNA flu vaccine over trial comparator design; the company requested a Type A meeting, and a report said internal FDA reviewers supported review before being overruled by vaccine chief Vinay Prasad.
- Flu and COVID‑plus‑flu filings were accepted in the EU, Canada, and Australia, 2026 guidance assumes no revenue from those products, and R&D spending is projected at about $3 billion.