Moderna (MRNA) 10-K Summary — Year Ended Dec 31, 2023

Moderna is a biotechnology company that experienced a significant decline in annual revenue and reported a net loss. The company's cash position decreased as it funded operations and share repurchases.

Key takeaway

Year ended Dec 31, 2023 · FY2025 10-K

Financial snapshot

Selected annual figures reported with the filing, shown separately from the narrative summary.

Annual revenue

$6.8B

Revenue reported for the fiscal year.

Operating income

-$4.2B

Income from operations reported for the year.

Net income

-$4.7B

Net income reported for the year.

Operating cash flow

-$3.1B

Cash generated by operating activities.

Annual revenue trend

Reported annual revenue and its change from the preceding fiscal year.

Period ended	Revenue	Year-over-year change
Dec 31, 2021	$18.5B	n/a
Dec 31, 2022	$19.3B	+4.3%
Dec 31, 2023	$6.8B	-64.4%

Business overview

The company is a biotechnology firm that generates revenue from product sales. The business overview section of the filing provides additional context not included in this extract.

Financial performance

The company's annual revenue declined sharply compared to the prior period. It reported a net loss and negative cash flow from operations, with operating income also negative.

Material risks

The filing includes a risk factors section. Based on the financial results, the company faces material risks from declining revenue and operating losses. No other specific risk details are available from the provided context.

Liquidity and capital

The company's cash, cash equivalents, and investments decreased during the period, primarily due to cash used in operations, stock repurchases, and capital expenditures. Working capital also declined.

What to watch

Readers should monitor the company's revenue trends in the next filing.