Moderna sales down 45% but beat expectations

Cambridge, USA-based mRNA vaccines company Moderna (Nasdaq: MRNA) today reported financial results and provided business updates for the third quarter of 2025 that beat expectations, sending its shares up 7.1% to $25.17 in pre-market activity.

Total revenue for the third quarter of 2025 was $1.0 billion, a 45% decrease from $1.9 billion in the same period in 2024, exceeding forecasts by $150.11 million. This performance highlights Moderna's ongoing efforts beyond COVID-19, particularly in the development of its cancer vaccine, which offers promising potential for future growth.

Moderna said the decline was primarily driven by a $847 million, or 47%, decrease in net product sales, mainly due to lower COVI.D vaccine sales. In the U.S., the decrease reflected reduced vaccination rates year over year. /