The company said total revenue for Q1 2025 (3 months) fell to $108 million from $167 million a year earlier. Net loss for the same quarter was $(971) million, and loss per share was $(2.52).

1. 01

   The company said total revenue for Q1 2025 (3 months) fell to $108 million from $167 million a year earlier. Net loss for the same quarter was $(971) million, and loss per share was $(2.52).

2. 02

   Moderna said the revenue decline for Q1 mainly reflected lower net product sales, which totaled $86 million. The company cited lower vaccination rates and the continued normalization of COVID into a seasonal commercial market as factors.

3. 03

   Moderna said research and development expenses for Q1 2025 fell 19% from a year earlier to $856 million, and selling, general and administrative expenses fell 23% to $212 million. The company attributed the R&D decline mainly to lower clinical development costs for respiratory programs.

4. 04

   The company said cash, cash equivalents and investments fell to $8.4 billion as of March 31, 2025 from $9.5 billion as of December 31, 2024. It reiterated its 2025 revenue range of $1.5 billion to $2.5 billion and its year-end cash and investments outlook of about $6 billion.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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