NASDAQ$MRNA
Moderna Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Moderna's second quarter sales were on target, with progress in securing new contracts and advancing late-stage clinical pipeline.
Moderna reported second quarter 2023 revenues of $0.3 billion, a net loss of $1.4 billion, and a loss per share of $3.62. The company is on track to deliver 2023 sales between $6 billion to $8 billion, dependent on COVID vaccination rates in the U.S.
- Second quarter revenue reached $0.3 billion.
- Net loss amounted to $1.4 billion, with a loss per share of $3.62.
- The company expects $6 billion to $8 billion in 2023 COVID-19 vaccine sales.
- Submitted RSV vaccine to regulators globally ahead of potential 2024 launch.
Headline financials
Revenue & EPS history
Moderna · Revenue · Quarterly
$344M
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 COVID-19 vaccine sales of $6 billion to $8 billion in 2023, dependent on U.S. vaccination rates. Cost of sales is expected to be approximately $3.5 billion to $4 billion for the year. Full-year 2023 expenses are projected to be approximately $6.0 billion, with $4.5 billion in R&D. The company anticipates a full-year tax benefit of approximately $0.7 billion to $1.0 billion.
Tailwinds
- Expecting 2023 COVID-19 vaccine sales of $6 billion to $8 billion.
- Approximately $4 billion from previously announced COVID-19 vaccine Advance Purchase Agreements (APAs).
- $2 billion to $4 billion in signed and anticipated commercial contracts in the U.S., as well as other markets.
- Expecting a 2024 launch of its RSV vaccine.
- Anticipates a full-year tax benefit of approximately $0.7 billion to $1.0 billion.
Headwinds
- Approximately $1 billion of the original $5 billion in APAs to be deferred to 2024.
- Sales will be subject to the timing of regulatory approvals.
- Expecting a 2023 second half sales split of approximately 30% in the third quarter and 70% in the fourth quarter.
- Cost of sales to be approximately $3.5 billion to $4 billion for the year.
- Primarily driven by the U.S. fall 2023 COVID-19 market size, which is dependent on vaccination rates and is likely to be 50 to 100 million doses.
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 Q2 2023
+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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