How much revenue did Moderna make in fiscal 2025?

Moderna reported revenue of $1,944m for fiscal 2025, compared with $3,236m in fiscal 2024.

How much has the revenue of Moderna grown?

Between fiscal 2017 and fiscal 2025 it went from $205.8m to $1,944m: 844.5% more, an average growth of 32.4% a year.

What was the best year for revenue at Moderna?

Of its last 9 fiscal years, fiscal 2022, with $19,263m.

Where do the figures for Moderna come from?

From the annual report (Form 10-K) that Moderna files with the SEC, the US securities regulator. Each fiscal year links to its filing.

Moderna (NASDAQ: MRNA) revenue

Moderna reported revenue of $1,944m for fiscal 2025, 39.9% less than in fiscal 2024 ($3,236m). Since fiscal 2017 its revenue has grown by 844.5%, an average growth of 32.4% a year.

Revenue by fiscal year

Fiscal year	Revenue	Change	Operating profit	Operating margin
2025	$1,944m	−39.9%	−$3,074m	−158.1%
2024	$3,236m	−52.7%	−$3,945m	−121.9%
2023	$6,848m	−64.4%	−$4,239m	−61.9%
2022	$19,263m	+4.3%	$9,420m	48.9%
2021	$18,471m	+2,200.2%	$13,296m	72.0%
2020	$803.0m	+1,238.3%	−$763.0m	−95.0%
2019	$60.0m	−55.6%	−$546.0m	−910.0%
2018	$135.1m	−34.4%	−$413.3m	−306.0%
2017	$205.8m	—	−$269.4m	−130.9%

The change compares each fiscal year with the one before. Operating margin is operating profit over revenue from the same filing. Figures are in millions of US dollars, except per-share amounts.

Questions about the revenue of Moderna

How much revenue did Moderna make in fiscal 2025?: Moderna reported revenue of $1,944m for fiscal 2025, compared with $3,236m in fiscal 2024.
How much has the revenue of Moderna grown?: Between fiscal 2017 and fiscal 2025 it went from $205.8m to $1,944m: 844.5% more, an average growth of 32.4% a year.
What was the best year for revenue at Moderna?: Of its last 9 fiscal years, fiscal 2022, with $19,263m.
Where do the figures for Moderna come from?: From the annual report (Form 10-K) that Moderna files with the SEC, the US securities regulator. Each fiscal year links to its filing.

Where each figure comes from

From the annual report (Form 10-K) that Moderna files with the SEC. The filing for each fiscal year: 2025 · 2024 · 2023 · 2022 · 2021 · 2020 · 2019 · 2018 · 2017. More on Moderna: the Moderna page · annual accounts · net income · insider transactions.

Information prepared from the accounts the company files with the regulator, for information purposes only. It is not financial advice or a recommendation to buy or sell. Updated on 12 November 2026.