NASDAQ$MRNA
Moderna Inc · Q1 2021 earnings
Q1 2021 earnings · · Investor relations
Briefing
Moderna achieved its first profitable quarter, driven by commercial sales of its COVID-19 vaccine in the U.S. and initial international sales.
Moderna reported its first profitable quarter in the company's history, with total revenue reaching $1.9 billion, driven by sales of its COVID-19 vaccine. The company delivered on its supply commitments and increased its 2021 supply forecast to between 800 million and 1 billion doses.
- Moderna reported its first GAAP profitable quarter in company history.
- The company increased its 2021 supply forecast to between 800 million and 1 billion doses.
- Initial analysis of the TeenCOVE study showed vaccine efficacy against COVID-19 of 96%.
- A single booster dose of mRNA-1273 or mRNA-1273.351 increased neutralizing titers against SARS-CoV-2 variants.
Headline financials
Revenue & EPS history
Moderna · Revenue · Quarterly
$1.94B
Revenue by segment
Moderna · $1.93B total across 2 segments · Q3 2023
- Net Product Sales$1.76B—91.0%
- Other Revenue$174M—9.0%
Forward guidance
Moderna anticipates continued growth and expansion in 2021 and beyond.
Tailwinds
- Company has signed APAs for $19.2 billion in product sales for scheduled delivery in 2021.
- Company expects doses delivered in Q2 2021 to be in the range of 200-250 million doses.
- Company anticipates manufacturing investments to facilitate supply of up to 3 billion doses in 2022.
- Effective tax rate expected in the low-teens.
- Capital expenditures of $450-550 million planned for 2021.
Headwinds
- Expect quarter over quarter cost increases in R&D expenses during 2021 as research and development activities and expenses ramp up.
- Expect quarter over quarter cost increases in SG&A expenses during 2021 as commercial activities and expenses ramp up.
- Cost of sales as percentage of product sales are expected to be approximately 20% for fiscal year 2021.
- The FDA or other regulatory agencies may not agree with the Company’s regulatory approval strategies.
- Potential adverse impacts due to the global COVID-19 pandemic such as delays in regulatory review, manufacturing and clinical trials, supply chain interruptions, adverse effects on healthcare systems and disruption of the global economy
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2021
+0.8%
Avg return
Earnings day
+1.4%
Avg return
5 days after
+8.2%
Avg return
30 days after
59%
17 / 29 earnings
Positive
+21.0%
Q1 2020
Best reaction
-31.5%
Q3 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.0% | +6.2% | +2.7% | |
| Q4 2025 | +5.3% | +16.2% | +31.0% | |
| Q3 2025 | +2.6% | +12.1% | +17.6% | |
| Q1 2025 | -5.3% | -14.4% | -6.9% | |
| Q4 2024 | +3.4% | +12.5% | +8.5% | |
| Q3 2024 | -9.6% | -16.1% | -14.2% | |
| Q2 2024 | -27.4% | -31.0% | -35.1% | |
| Q1 2024 | +12.1% | +8.6% | +27.9% | |
| Q4 2023 | +10.1% | +9.8% | +20.4% | |
| Q3 2023 | +1.7% | -3.3% | +4.8% | |
| Q2 2023 | -1.8% | -9.5% | +2.1% | |
| Q1 2023 | +5.3% | +2.8% | +0.3% | |
| Q4 2022 | -12.0% | -12.2% | -4.6% | |
| Q3 2022 | +6.6% | +10.8% | +22.7% | |
| Q2 2022 | +20.8% | +13.8% | -13.8% | |
| Q1 2022 | -3.1% | -7.3% | -6.4% | |
| Q4 2021 | +11.5% | +10.2% | +22.2% | |
| Q3 2021 | -31.5% | -31.5% | -11.3% | |
| Q2 2021 | -1.3% | +9.0% | -0.6% | |
| Q1 2021 | +0.2% | -2.4% | +26.5% | |
| Q4 2020 | +6.9% | +1.4% | -7.9% | |
| Q3 2020 | +2.6% | +5.1% | +93.2% | |
| Q2 2020 | -6.0% | -8.2% | -20.2% | |
| Q1 2020 | +21.0% | +27.4% | +18.9% | |
| Q4 2019 | +10.1% | +25.8% | +26.5% | |
| Q3 2019 | +3.6% | +3.0% | +12.1% | |
| Q2 2019 | +7.3% | +5.9% | +29.2% | |
| Q1 2019 | -5.3% | -0.5% | -28.6% | |
| Q4 2018 | -3.6% | -4.4% | +21.5% | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
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