Flagship explainer
How Moderna, Inc. makes its money
Start with a dollar of revenue and follow what the filing says remains.
Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.
| Filed line | Value | % of revenue | Source |
|---|---|---|---|
| $1.9B | 100% |
| |
| Cost of revenue | $868M | 45% |
|
| $1.1B | 55% |
| |
| −$3.1B | −158% |
| |
| Income before tax | −$2.8B | −142% |
|
| Income tax | $54M | 3% |
|
| −$2.8B | −145% |
|
Source:
- SEC filing · FY 2025Filing detailsAccession 0001682852-26-000033