Moderna Q2 2026 revenue rises to $145 million; 2026 guidance kept, R&D outlook cut

Moderna reported Q2 2026 total revenue of $145 million, up from $142 million a year earlier, while net product sales fell to $94 million from $114 million. The GAAP loss per share was $1.97, against $2.13 a year earlier, and R&D fell 7% to $651 million. The company kept its guidance of up to 10% revenue growth in 2026, lowered its R&D outlook to about $2.9 billion, and set the year-end cash and investments range at $4.7 to $5.2 billion. Shares fell after the report, and outlets disagree on the size of the move.

• Total revenue $145 million vs $142 million in Q2 2025; net product sales $94 million vs $114 million
• GAAP EPS of $(1.97) vs $(2.13) a year earlier
• R&D $651 million (down 7%); SG&A $216 million (down 6%)
• 2026 guidance: revenue up to 10% above 2025; R&D about $2.9 billion (from about $3.0 billion); SG&A about $1.0 billion
• Cost of sales guidance of about $1.7 billion includes a $0.9 billion litigation settlement charge; year-end cash $4.7 to $5.2 billion

SEC filing 8-K · accession 0001682852-26-000147 · sec.gov ↗