Moderna, Inc. stock research
FY2024 Q3
Moderna (MRNA) Gross Margin — Quarter Ended Sep 30, 2024
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year. Cost of revenue was lower than the year-ago quarter, contributing to a gross margin that improved from negative to positive territory.
Gross margin takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year. Cost of revenue was lower than the year-ago quarter, contributing to a gross margin that improved from negative to positive territory.
- The gross margin strengthened significantly compared to both the prior quarter and the year-ago quarter, driven by a higher gross profit relative to revenue.
- Compared to the immediately preceding quarter, revenue, gross profit, and gross margin were all higher. Compared to the same quarter one year earlier, revenue was slightly higher, gross profit turned positive from negative, and gross margin improved markedly.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
72.4%
Gross profit
$1.3B
Revenue
$1.9B
Cost of revenue
$514.0M
Quarter-over-quarter change
+20.1 pts
Year-over-year change
+94.8 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 |
|---|---|---|---|---|
| Dec 31, 2023 | $2.8B | $1.9B | $929.0M | 67.0% |
| Mar 31, 2024 | $167.0M | $71.0M | $96.0M | 42.5% |
| Jun 30, 2024 | $241.0M | $126.0M | $115.0M | 52.3% |
| Sep 30, 2024 | $1.9B | $1.3B | $514.0M | 72.4% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2024
+20.1 pts
Year-over-year change
Sep 30, 2023
+94.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin strengthened significantly compared to both the prior quarter and the year-ago quarter, driven by a higher gross profit relative to revenue.
Compared to the immediately preceding quarter, revenue, gross profit, and gross margin were all higher. Compared to the same quarter one year earlier, revenue was slightly higher, gross profit turned positive from negative, and gross margin improved markedly.
Monitor the trend in cost of revenue relative to revenue, as it was substantially lower than the year-ago quarter.