Moderna's Revenue
- Moderna's annual revenue was $1.94 B in fiscal year 2025. The annual revenue decreased -$1.26 B from $3.20 B (in 2024) to $1.94 B (in 2025), representing a -39.23% year-over-year decline.
- Moderna's quarterly revenue was $678.00 M in the quarter ending Dec 2025. The quarterly revenue decreased -$278.00 M from $956.00 M (in Q4: Sept 2024) to $678.00 M (in Q4: Sept 2025), representing a -29.08% year-over-year decline.
- The highest annual revenue for Moderna was $18.88 B in fiscal year 2022.
- The lowest annual revenue was $60.21 M in fiscal year 2019.
- The average revenue was $5.53 B.
- Revenue is the amount of money generated by a business from sales of its goods or services. Refer to our glossary for more details, examples, and formulas.
Over the past 10 years (2016 - 2025):
Learn more about Moderna's Revenue by Segment and Revenue by Region.
Check out competitors to Moderna in a side-by-side comparison.
Explore additional financial metrics for Moderna.
Definition of Revenue :
Moderna's Revenue Trend
| 2016 | 108396000.00 |
|---|---|
| 2017 | 205825000.00 |
| 2018 | 135068000.00 |
| 2019 | 60209000.00 |
| 2020 | 803395000.00 |
| 2021 | 17736000000.00 |
| 2022 | 18875000000.00 |
| 2023 | 6848000000.00 |
| 2024 | 3199000000.00 |
| 2025 | 1944000000.00 |
| Mar 2017 | 35724000.00 |
|---|---|
| Jun 2017 | 35724000.00 |
| Sep 2017 | 42473000.00 |
| Dec 2017 | 91904000.00 |
| Mar 2018 | 29039000.00 |
| Jun 2018 | 28851000.00 |
| Sep 2018 | 41757000.00 |
| Dec 2018 | 35421000.00 |
| Mar 2019 | 16024999.00 |
| Jun 2019 | 13083000.00 |
| Sep 2019 | 17046000.00 |
| Dec 2019 | 14055000.00 |
| Mar 2020 | 8389000.00 |
| Jun 2020 | 66351000.00 |
| Sep 2020 | 157910000.00 |
| Dec 2020 | 570745000.00 |
| Mar 2021 | 1743000000.00 |
| Jun 2021 | 4215000000.00 |
| Sep 2021 | 4829000000.00 |
| Dec 2021 | 6949000000.00 |
| Mar 2022 | 5940000000.00 |
| Jun 2022 | 4566000000.00 |
| Sep 2022 | 3220000000.00 |
| Dec 2022 | 5149000000.00 |
| Mar 2023 | 1838000000.00 |
| Jun 2023 | 344000000.00 |
| Sep 2023 | 1831000000.00 |
| Dec 2023 | 2813000000.00 |
| Mar 2024 | 167000000.00 |
| Jun 2024 | 221000000.00 |
| Sep 2024 | 1855000000.00 |
| Dec 2024 | 956000000.00 |
| Mar 2025 | 107000000.00 |
| Jun 2025 | 142000000.00 |
| Sep 2025 | 1016000000.00 |
| Dec 2025 | 678000000.00 |
2025
Moderna's annual revenue was $1.94 B in fiscal year 2025.
Moderna's quarterly revenue was $107.00 M(Q1: Mar 2025), $142.00 M(Q2: Jun 2025), $1.02 B(Q3: Sep 2025), $678.00 M(Q4: Dec 2025) in fiscal year 2025.
2024
Moderna's annual revenue was $3.20 B in fiscal year 2024.
Moderna's quarterly revenue was $167.00 M(Q1: Mar 2024), $221.00 M(Q2: Jun 2024), $1.86 B(Q3: Sep 2024), $956.00 M(Q4: Dec 2024) in fiscal year 2024.
2023
Moderna's annual revenue was $6.85 B in fiscal year 2023.
Moderna's quarterly revenue was $1.84 B(Q1: Mar 2023), $344.00 M(Q2: Jun 2023), $1.83 B(Q3: Sep 2023), $2.81 B(Q4: Dec 2023) in fiscal year 2023.
2022
Moderna's annual revenue was $18.88 B in fiscal year 2022.
Moderna's quarterly revenue was $5.94 B(Q1: Mar 2022), $4.57 B(Q2: Jun 2022), $3.22 B(Q3: Sep 2022), $5.15 B(Q4: Dec 2022) in fiscal year 2022.
2021
Moderna's annual revenue was $17.74 B in fiscal year 2021.
Moderna's quarterly revenue was $1.74 B(Q1: Mar 2021), $4.22 B(Q2: Jun 2021), $4.83 B(Q3: Sep 2021), $6.95 B(Q4: Dec 2021) in fiscal year 2021.
2020
Moderna's annual revenue was $803.40 M in fiscal year 2020.
Moderna's quarterly revenue was $8.39 M(Q1: Mar 2020), $66.35 M(Q2: Jun 2020), $157.91 M(Q3: Sep 2020), $570.75 M(Q4: Dec 2020) in fiscal year 2020.
2019
Moderna's annual revenue was $60.21 M in fiscal year 2019.
Moderna's quarterly revenue was $16.02 M(Q1: Mar 2019), $13.08 M(Q2: Jun 2019), $17.05 M(Q3: Sep 2019), $14.06 M(Q4: Dec 2019) in fiscal year 2019.
2018
Moderna's annual revenue was $135.07 M in fiscal year 2018.
Moderna's quarterly revenue was $29.04 M(Q1: Mar 2018), $28.85 M(Q2: Jun 2018), $41.76 M(Q3: Sep 2018), $35.42 M(Q4: Dec 2018) in fiscal year 2018.
2017
Moderna's annual revenue was $205.83 M in fiscal year 2017.
Moderna's quarterly revenue was $35.72 M(Q1: Mar 2017), $35.72 M(Q2: Jun 2017), $42.47 M(Q3: Sep 2017), $91.90 M(Q4: Dec 2017) in fiscal year 2017.
2016
Moderna's annual revenue was $108.40 M in fiscal year 2016.
in fiscal year 2016.
Moderna's Revenue (Year-over-Year Change)
| 2016 | 0 |
|---|---|
| 2017 | +89.88 |
| 2018 | -34.38 |
| 2019 | -55.42 |
| 2020 | +1,234.34 |
| 2021 | +2,107.63 |
| 2022 | +6.42 |
| 2023 | -63.72 |
| 2024 | -53.29 |
| 2025 | -39.23 |
| Q1: Mar 17 | 0 |
|---|---|
| Q2: Jun 17 | 0 |
| Q3: Sep 17 | 0 |
| Q4: Dec 17 | 0 |
| Q1: Mar 18 | -18.71 |
| Q2: Jun 18 | -19.24 |
| Q3: Sep 18 | -1.69 |
| Q4: Dec 18 | -61.46 |
| Q1: Mar 19 | -44.82 |
| Q2: Jun 19 | -54.65 |
| Q3: Sep 19 | -59.18 |
| Q4: Dec 19 | -60.32 |
| Q1: Mar 20 | -47.65 |
| Q2: Jun 20 | 407.15 |
| Q3: Sep 20 | 826.38 |
| Q4: Dec 20 | 3,960.80 |
| Q1: Mar 21 | 20,677.21 |
| Q2: Jun 21 | 6,252.58 |
| Q3: Sep 21 | 2,958.07 |
| Q4: Dec 21 | 1,117.53 |
| Q1: Mar 22 | 240.79 |
| Q2: Jun 22 | 8.33 |
| Q3: Sep 22 | -33.32 |
| Q4: Dec 22 | -25.90 |
| Q1: Mar 23 | -69.06 |
| Q2: Jun 23 | -92.47 |
| Q3: Sep 23 | -43.14 |
| Q4: Dec 23 | -45.37 |
| Q1: Mar 24 | -90.91 |
| Q2: Jun 24 | -35.76 |
| Q3: Sep 24 | 1.31 |
| Q4: Dec 24 | -66.01 |
| Q1: Mar 25 | -35.93 |
| Q2: Jun 25 | -35.75 |
| Q3: Sep 25 | -45.23 |
| Q4: Dec 25 | -29.08 |
2025
Moderna’s annual revenue decreased -39.23% during fiscal year 2025 compared to 2024. It represents a decline of -$1.26 B from $3.20 B (in 2024) to $1.94 B (in 2025).
2024
Moderna’s annual revenue decreased -53.29% during fiscal year 2024 compared to 2023. It represents a decline of -$3.65 B from $6.85 B (in 2023) to $3.20 B (in 2024).
2023
Moderna’s annual revenue decreased -63.72% during fiscal year 2023 compared to 2022. It represents a decline of -$12.03 B from $18.88 B (in 2022) to $6.85 B (in 2023).
2022
Moderna’s annual revenue increased +6.42% during fiscal year 2022 compared to 2021. It represents a growth of $1.14 B from $17.74 B (in 2021) to $18.88 B (in 2022).
2021
Moderna’s annual revenue decreased +2,107.63% during fiscal year 2021 compared to 2020. It represents a decline of $16.93 B from $803.40 M (in 2020) to $17.74 B (in 2021).
2020
Moderna’s annual revenue decreased +1,234.34% during fiscal year 2020 compared to 2019. It represents a decline of $743.19 M from $60.21 M (in 2019) to $803.40 M (in 2020).
2019
Moderna’s annual revenue decreased -55.42% during fiscal year 2019 compared to 2018. It represents a decline of -$74.86 M from $135.07 M (in 2018) to $60.21 M (in 2019).
2018
Moderna’s annual revenue decreased -34.38% during fiscal year 2018 compared to 2017. It represents a decline of -$70.76 M from $205.83 M (in 2017) to $135.07 M (in 2018).
2017
Moderna’s annual revenue increased +89.88% during fiscal year 2017 compared to 2016. It represents a growth of $97.43 M from $108.40 M (in 2016) to $205.83 M (in 2017).
Summary Table (Annual)
| Period | Revenue | Year-over-Year Change |
|---|---|---|
| 2025 | $1.94 B | -39.23% |
| 2024 | $3.20 B | -53.29% |
| 2023 | $6.85 B | -63.72% |
| 2022 | $18.88 B | +6.42% |
| 2021 | $17.74 B | +2,107.63% |
| 2020 | $803.40 M | +1,234.34% |
| 2019 | $60.21 M | -55.42% |
| 2018 | $135.07 M | -34.38% |
| 2017 | $205.83 M | +89.88% |
Summary Table (Quarterly)
| Period | Revenue | Year-over-Year Change |
|---|---|---|
| Q4: Dec 25 | $678.00 M | -29.08% |
| Q3: Sep 25 | $1.02 B | -45.23% |
| Q2: Jun 25 | $142.00 M | -35.75% |
| Q1: Mar 25 | $107.00 M | -35.93% |
| Q4: Dec 24 | $956.00 M | -66.01% |
| Q3: Sep 24 | $1.86 B | 1.31% |
| Q2: Jun 24 | $221.00 M | -35.76% |
| Q1: Mar 24 | $167.00 M | -90.91% |
| Q4: Dec 23 | $2.81 B | -45.37% |
| Q3: Sep 23 | $1.83 B | -43.14% |
| Q2: Jun 23 | $344.00 M | -92.47% |
| Q1: Mar 23 | $1.84 B | -69.06% |
| Q4: Dec 22 | $5.15 B | -25.90% |
| Q3: Sep 22 | $3.22 B | -33.32% |
| Q2: Jun 22 | $4.57 B | 8.33% |
| Q1: Mar 22 | $5.94 B | 240.79% |
| Q4: Dec 21 | $6.95 B | 1,117.53% |
| Q3: Sep 21 | $4.83 B | 2,958.07% |
| Q2: Jun 21 | $4.22 B | 6,252.58% |
| Q1: Mar 21 | $1.74 B | 20,677.21% |
| Q4: Dec 20 | $570.75 M | 3,960.80% |
| Q3: Sep 20 | $157.91 M | 826.38% |
| Q2: Jun 20 | $66.35 M | 407.15% |
| Q1: Mar 20 | $8.39 M | -47.65% |
| Q4: Dec 19 | $14.06 M | -60.32% |
| Q3: Sep 19 | $17.05 M | -59.18% |
| Q2: Jun 19 | $13.08 M | -54.65% |
| Q1: Mar 19 | $16.02 M | -44.82% |
| Q4: Dec 18 | $35.42 M | -61.46% |
| Q3: Sep 18 | $41.76 M | -1.69% |
| Q2: Jun 18 | $28.85 M | -19.24% |
| Q1: Mar 18 | $29.04 M | -18.71% |
| Q4: Dec 17 | $91.90 M | - |
| Q3: Sep 17 | $42.47 M | - |
| Q2: Jun 17 | $35.72 M | - |
| Q1: Mar 17 | $35.72 M | - |
