NASDAQ$MRNA
Moderna Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Moderna reported a net loss of $1.3 billion and total revenue of $241 million.
Moderna reported second quarter revenues of $241 million, a GAAP net loss of $1.3 billion, and a GAAP EPS of $(3.33). The company updated its 2024 financial framework and revised expectations for product sales to $3.0 to $3.5 billion. Moderna received U.S. FDA approval for its RSV vaccine, mRESVIA, and began shipping in July. Positive Phase 3 data was announced for both a combination vaccine against influenza and COVID-19 and a next-generation COVID-19 vaccine.
- Second quarter revenues were reported at $241 million.
- GAAP net loss for the quarter was $1.3 billion, with a GAAP EPS of $(3.33).
- The 2024 financial framework was updated, with product sales expectations revised to $3.0 to $3.5 billion.
- U.S. FDA approval was received for the RSV vaccine, mRESVIA, with shipments beginning in July.
Headline financials
Revenue & EPS history
Moderna · Revenue · Quarterly
$241M
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 revises its 2024 expected net product sales to $3.0 to $3.5 billion from its respiratory franchise. Cost of sales is expected to be in the range of 40-50% of product sales for the year. Full-year 2024 research and development expenses are anticipated to be approximately $4.5 billion.
Tailwinds
- Sales split of 40-50% in Q3 with the balance in Q4 2024, subject to the timing of regulatory approvals.
- mRNA-1345, ACIP issued a recommendation for all unvaccinated people 75 years of age and older and unvaccinated people ages 60-74 who are at increased risk for RSV.
- EMA adopted a positive opinion recommending marketing authorization in the EU for mRESVIA.
- Moderna’s seasonal flu vaccine (mRNA-1010) demonstrated consistently acceptable safety and tolerability across three Phase 3 trials.
- The Company is engaging with regulators and intends to file in 2024.
Headwinds
- Update in product sales is driven by three primary factors: very low EU sales in 2024.
- Potential revenue deferrals for certain international sales into 2025.
- An increasingly competitive environment for respiratory vaccines in the U.S.
- Cost of sales is expected to be in the range of 40-50% of product sales for the year.
- Full-year 2024 research and development expenses are anticipated to be approximately $4.5 billion.
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 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 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro