NASDAQ$MRNA
Moderna Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Moderna reported third quarter revenues of $1.9 billion and GAAP net income of $13 million.
Moderna's Q3 2024 financial results showed revenues of $1.9 billion, driven by Spikevax® sales. The company achieved a GAAP net income of $13 million and EPS of $0.03. Cost efficiency was a key focus, contributing to improved financial performance.
- Reported third quarter revenues of $1.9 billion.
- Achieved GAAP net income of $13 million and GAAP EPS of $0.03.
- Year-to-date product sales reached $2.2 billion.
- Reiterated 2024 expected product sales of $3.0 to $3.5 billion.
Headline financials
Revenue & EPS history
Moderna · Revenue · Quarterly
$1.86B
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
The Company reiterates its 2024 expected net product sales of $3.0 to $3.5 billion from its respiratory franchise. Cost of sales is now expected to be in the range of 40-45% of product sales for the year (previously 40-50%). Full-year 2024 research and development expenses are now anticipated to be in the range of $4.6 to $4.7 billion (previously $4.8 billion). Selling, general and administrative expenses for 2024 are projected to be approximately $1.2 billion. The Company continues to expect its full-year tax expense to be negligible. Capital expenditures for 2024 are now expected to be approximately $1.2 billion (previously ~$0.9 billion).
Tailwinds
- Reiterates 2024 expected net product sales of $3.0 to $3.5 billion
- Cost of sales is now expected to be in the range of 40-45% of product sales for the year
- Full-year 2024 research and development expenses are now anticipated to be in the range of $4.6 to $4.7 billion
- Selling, general and administrative expenses for 2024 are projected to be approximately $1.2 billion
- Year-end cash and investments for 2024 are projected to be approximately $9 billion
Headwinds
- Remaining focused on a prioritized research and development portfolio
- Delivering on 10 product approvals over the next three years.
- Moderna intends to file in 2024 for approval of its next-generation COVID-19 vaccine (mRNA-1283) and RSV vaccine (mRNA-1345) for high-risk adults aged 18-59
- For its flu/COVID combination vaccine (mRNA-1083), the Company intends to file in 2024, subject to ongoing discussions with the U.S. FDA, and has decided not to use a priority review voucher.
- The Company expects to start a pivotal study in the first half of 2025.
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 Q3 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