Moderna's Q2 2025 Financial Results and Business Updates

Moderna, Inc. announced a second quarter 2025 revenue of $0.1 billion and a GAAP net loss of $(0.8) billion, with a loss per share of $(2.13). The company revised its 2025 revenue projection to $1.5-$2.2 billion, reducing the high end by $300 million due to shipment timing. Operating expenses are expected to be cut by $400 million, now ranging from $5.9 to $6.1 billion. Moderna reiterated its anticipated year-end cash reserve of approximately $6 billion.

Recent FDA approvals and efficacy results for their flu vaccine highlighted positive development, aiding in their strategic growth. In Q2, sales of Spikevax® and mNEXSPIKE® contributed to a total revenue of $142 million, marking a 41% drop year-on-year due to decreased vaccine sales. Moderna also saw limited RSV vaccine sales, though approvals expanded usage for at-risk adults. R&D and administrative expenses decreased significantly, showcasing ongoing cost discipline and operational streamlining efforts.