MRNA · 8-K · 20260731PR000147

Guidance / Outlook

Moderna, Inc. · 2026-07-31 · Importance 80 · Surprise 68 · In source text

Moderna reiterated its plan to deliver up to 10% revenue growth in 2026 from 2025 revenue. The company lowered expected 2026 GAAP operating expenses by approximately $0.2 billion, including reducing projected research and development expenses to approximately $2.9 billion from approximately $3.0 billion and cost of sales to approximately $1.7 billion from approximately $1.8 billion. Moderna raised projected year-end 2026 cash and investments to $4.7 billion-$5.2 billion, an improvement of approximately $0.2 billion, excluding further draws from its $0.9 billion available credit facility. Capital expenditures are expected to be $0.2 billion-$0.3 billion in 2026, and approximately 55% of second-half 2026 revenue is expected to be recognized in the third quarter.

Key facts

• The Company is targeting up to 10% revenue growth from 2025 revenue in 2026. source
• Moderna reiterated plan to deliver up to 10% revenue growth in 2026. source
• The Company expects its full-year tax expense for 2026 to be negligible. source
• Analyst Day is scheduled for November 12, 2026. source
• Moderna will host a live conference call and webcast at 8:00 a.m. ET on July 31, 2026. source

Impact estimates