Moderna, Inc. stock research
FY2023 Q1
Moderna (MRNA) Gross Margin — Quarter Ended Mar 31, 2023
Revenue and gross profit both decreased compared to the prior quarter and the same quarter last year, while cost of revenue declined at a slower pace. Gross margin weakened from both the immediately preceding quarter and the year-ago period.
Gross margin takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue and gross profit both decreased compared to the prior quarter and the same quarter last year, while cost of revenue declined at a slower pace. Gross margin weakened from both the immediately preceding quarter and the year-ago period.
- The strongest observable driver is the relationship between revenue and cost of revenue: revenue declined more sharply than cost of revenue, compressing gross margin.
- Compared to the prior quarter, revenue and gross profit were lower, and gross margin weakened. Versus the same quarter one year earlier, all three metrics were lower, with gross margin showing a more pronounced decline.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
57.5%
Gross profit
$1.1B
Revenue
$1.9B
Cost of revenue
$792.0M
Quarter-over-quarter change
n/a
Year-over-year change
-25.8 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2023 | $1.9B | $1.1B | $792.0M | 57.5% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Previous quarter unavailable
n/a
Year-over-year change
Mar 31, 2022
-25.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable driver is the relationship between revenue and cost of revenue: revenue declined more sharply than cost of revenue, compressing gross margin.
Compared to the prior quarter, revenue and gross profit were lower, and gross margin weakened. Versus the same quarter one year earlier, all three metrics were lower, with gross margin showing a more pronounced decline.
Monitor the trajectory of cost of revenue relative to revenue, as its slower decline is the primary factor behind margin compression.