Moderna Posts Q3 Profit and Raises 2026 Revenue Outlook on COVID Vaccine Demand
Moderna swung to positive Q3 net income as revenue rose 29%, and it lifted its 2026 revenue growth outlook to 15%-25%, according to Reuters.
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what happened
Reuters reports that Moderna, the US maker of mRNA vaccines, grew third-quarter revenue 29% from a year earlier. The gain came mainly from higher COVID vaccine sales abroad, backed by long-term strategic deals with governments. The company returned to positive net income, and its adjusted earnings per share of $0.38 topped analysts' forecast of a $1.25 loss.
Research and development spending fell 27% as late-stage trials were completed and wound down. Moderna now expects 2026 revenue growth of 15% to 25%, up from its earlier view of up to 10%. It projects cost of sales of about $1.7 billion, including a $0.9 billion litigation charge, and year-end cash and investments of $8.1 billion to $8.3 billion, versus a prior $4.7 billion to $5.2 billion.
why it matters
For investors, the report shows that government supply contracts and cost cuts are lifting the company's cash position. Its launch of updated COVID shots and new approvals for mFLUSIVA and mCOFLU widen the respiratory lineup. The story concerns a single company, so its reach beyond biotech shares is limited.
market impact
Moderna shares: stronger quarter and higher outlook support the stock
- Moderna shares pressure up — earnings beat expectations and revenue outlook was raised
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sources
- Moderna swings to Q3 profit, raises outlook on strong COVID vaccine demand — Reuters, 6 November 2026 at 11:54 UTC
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