Moderna’s Q1 Revenue Soars 260% to $389M, Loss Widened by $0.9B Charge
MRNA•Moderna’s Q1 revenue hit $389 million, up 260% year-over-year and topping the $251.8 million consensus, with 80% from international partnership deliveries. The company reported a $3.40-per-share loss widened by a $0.9 billion litigation settlement charge and reiterated plans for 10% revenue growth in 2026.
1. Q1 Financial Results
Moderna reported first-quarter revenue of $389 million, a 260% increase from $108 million a year ago, surpassing the $251.8 million consensus. GAAP loss widened to $3.40 per share versus the $2.02 expected, reflecting higher one-time charges and ongoing operational investments.
2. Litigation Settlement Impact
The company took a $0.9 billion non-recurring charge related to a litigation settlement with Arbutus Biopharma and Genevant Sciences, boosting the GAAP net loss to $1.3 billion. The $950 million payment is scheduled for Q3 2026, with adjusted losses significantly lower excluding this expense.
3. Outlook and Guidance
Moderna reaffirmed its target of up to 10% revenue growth for full-year 2026 and maintained GAAP operating expense reduction goals excluding the settlement. The company forecasts year-end cash and investments of $4.5 billion to $5.0 billion and anticipates additional global approvals, including its seasonal flu vaccine.
