Moderna (MRNA) Revenue — Quarter Ended Sep 30, 2025
Revenue for the quarter increased sharply from the prior quarter, reflecting a reversal of the downward trend seen in earlier periods. Compared with the same quarter a year ago, revenue was lower, continuing the year-over-year decline observed in recent quarters.
Key takeaway
Quarter ended Sep 30, 2025 · FY2025 Q3
Revenue for the quarter increased sharply from the prior quarter, reflecting a reversal of the downward trend seen in earlier periods. Compared with the same quarter a year ago, revenue was lower, continuing the year-over-year decline observed in recent quarters.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1B
Revenue reported for this quarter.
Quarter-over-quarter
+615.5%
Change from the immediately preceding quarter.
Year-over-year
-45.4%
Change from the comparable year-ago quarter.
Trailing four quarters
$2.2B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2024 | $966M | -65.6% |
| Mar 31, 2025 | $108M | -35.3% |
| Jun 30, 2025 | $142M | -41.1% |
| Sep 30, 2025 | $1B | -45.4% |
Revenue performance
The reported revenue shows a substantial sequential increase, though it remains below the level achieved in the same quarter last year.
Quarterly comparison
Sequentially, revenue rose from the immediately preceding quarter. On a year-over-year basis, revenue declined compared to the same quarter one year earlier.
What to watch
The filing notes a decrease in cash, cash equivalents, and investments, primarily due to operating cash outflows.