NASDAQ$MRNA
Moderna Inc · Q4 2024 earnings
Q4 2024 earnings · · Before market open · Investor relations
Briefing
Moderna Q4 2024 earnings report showed a significant decline in revenue and profitability due to lower COVID-19 vaccine sales.
Moderna reported a sharp year-over-year revenue decline in Q4 2024, primarily driven by reduced demand for its COVID-19 vaccine. The company posted a substantial net loss and negative operating income, reflecting restructuring costs and lower sales volumes. Despite these challenges, Moderna continued advancing its late-stage pipeline and cost-cutting initiatives.
- Revenue fell by 64.48% YoY due to lower COVID-19 vaccine sales.
- The company reported a net loss of $1.12 billion compared to a net income of $217 million in Q4 2023.
- Operating margin turned negative, driven by restructuring costs and lower sales volumes.
- Moderna is focusing on pipeline expansion and cost efficiency to improve future performance.
Headline financials
Revenue & EPS history
Moderna · Revenue · Quarterly
$1B
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 expects 2025 revenue between $1.5 billion and $2.5 billion, with a strong focus on pipeline expansion and cost efficiency.
Tailwinds
- Pipeline expansion with up to 10 product approvals expected by 2027.
- Regulatory filings for next-gen COVID-19, RSV, and flu/COVID combo vaccines.
- Cost reduction initiatives expected to remove nearly $1 billion in expenses.
- Cash balance projected to remain strong at approximately $6 billion by year-end.
- Focus on operational efficiencies and restructuring to optimize financial performance.
Headwinds
- Continued revenue decline expected due to lower COVID-19 vaccine sales.
- High R&D expenses will continue due to ongoing late-stage trials.
- Operating losses may persist until new product approvals drive revenue growth.
- Competitive pressures in the COVID-19 and respiratory vaccine markets.
- Market uncertainty regarding demand for future vaccines.
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 Q4 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