Moderna (MRNA) 10-K Summary — Year Ended Dec 31, 2024

Moderna reported a significant decline in revenue and a large net loss for the period. The company's cash and investments decreased substantially, reflecting negative operating cash flow and capital expenditures.

Key takeaway

Year ended Dec 31, 2024 · FY2025 10-K

Financial snapshot

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

Annual revenue

$3.2B

Revenue reported for the fiscal year.

Operating income

-$3.9B

Income from operations reported for the year.

Net income

-$3.6B

Net income reported for the year.

Operating cash flow

-$3B

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%
Dec 31, 2024	$3.2B	-52.7%

Business overview

The supplied filing context does not contain a description of the company's business, only a reference to the Business section. Therefore, no specific business details can be provided.

Financial performance

Revenue decreased significantly from the prior year, and the company reported a large operating loss as well as a net loss. Operating cash flow was negative for the period.

Material risks

The filing includes a risk factors section, but specific risk details are not provided in the supplied data. No material risks can be identified from the available context.

Liquidity and capital

Cash, cash equivalents, and investments declined substantially, primarily due to net cash used in operations and capital expenditures. Working capital also decreased over the period.

What to watch

Readers should monitor the company's revenue trajectory and operating cash flow in the next filing, given the recent declines.