Moderna Reports Q3 Revenue Growth and Raises 2026 Outlook
Moderna reported Q3 2026 revenue of $1.3 billion, up 29% year over year, and GAAP net income of $0.2 billion, or $0.38 per share. It raised its full-year revenue growth outlook to 15%-25% from 10%, improved its GAAP operating expense outlook by approximately $0.2 billion and expects year-end cash of $8.1-$8.3 billion.
Moderna reported third-quarter 2026 revenue of $1.3 billion, a 29% increase compared to the same period in 2025, and a GAAP net income of $0.2 billion, or $0.38 per share. Driven by strong international demand for its COVID-19 vaccine and strategic partnerships, the company outperformed analyst expectations. Consequently, Moderna raised its full-year 2026 revenue growth outlook to 15%-25%, up from its previous guidance of 10%. The company also improved its GAAP operating expense outlook by approximately $0.2 billion and increased its expected year-end cash balance to $8.1-$8.3 billion.
Additionally, Moderna highlighted the U.S. FDA approval of its flu vaccine, mFLUSIVA, and positive Phase 3 data for its melanoma candidate, intismeran.