NASDAQ$MRNA
Moderna Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Moderna reported first quarter revenues, GAAP net loss and GAAP diluted EPS. The company prepares for launches of RSV vaccine and Spikevax® 2024-2025 formula and reaffirms 2024 expected product sales.
Moderna reported first quarter revenues of $167 million, a GAAP net loss of $1.2 billion, and a GAAP diluted EPS of $(3.07). The company is preparing for the launches of its RSV vaccine and Spikevax® 2024-2025 formula and reaffirms its 2024 expected product sales of approximately $4 billion.
- Reported $167 million in Spikevax (COVID-19 vaccine) sales in Q1 2024, including $100 million in U.S. sales and $67 million of international sales.
- Reaffirmed 2024 expected revenue of approximately $4 billion from its respiratory franchise.
- Anticipates initial regulatory approvals of its RSV vaccine (mRNA-1345) beginning in the first half of 2024.
- Advanced three new vaccine programs (Epstein-Barr virus, Varicella-Zoster virus, norovirus) toward Phase 3 clinical trials.
Headline financials
Revenue & EPS history
Moderna · Revenue · Quarterly
$167M
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 reaffirms its 2024 expected revenue of approximately $4 billion from its respiratory franchise, and now expects approximately $0.3 billion in net sales in the first half of the year. Cost of sales is expected to be approximately 35% of product sales for the year. Full-year 2024 research and development expenses are anticipated to be approximately $4.5 billion. Selling, general and administrative expenses for 2024 are projected to be approximately $1.3 billion.
Tailwinds
- Reaffirms 2024 expected revenue of approximately $4 billion from its respiratory franchise.
- Cost of sales is expected to be approximately 35% of product sales for the year.
- Full-year 2024 research and development expenses are anticipated to be approximately $4.5 billion.
- Selling, general and administrative expenses for 2024 are projected to be approximately $1.3 billion.
- Company continues to expect its full-year tax expense to be negligible.
Headwinds
- Expects approximately $0.3 billion in net sales in the first half of the year, reflecting the seasonality of the respiratory business.
- Year-end cash and investments for 2024 are projected to be approximately $9 billion.
- Capital expenditures for 2024 are expected to be approximately $0.9 billion.
- Company is discontinuing development of its preclinical PD-L1 program (mRNA-6981).
- Net loss was $(1.2) billion for the first quarter of 2024.
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 2024
+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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