Moderna, Inc. · Q3 2025
ReportedNov 6, 2025
Period endedSep 30, 2025
Rule of 40−132
The quarter in short
Revenue $1.02B, down 45.4% year over year and up 615.5% on the quarter. EPS −$0.51, up 76.1% on the quarter. Free cash flow −$880M, up 48.7% year over year and 4.6% on the quarter. Rule of 40 score −132.
Reported this quarter
Revenue
$1.02B
QoQ +615.5%
YoY −45.4%
EPS
−$0.51
QoQ +76.1%
YoY —
Free Cash Flow
−$880M
QoQ +4.6%
YoY +48.7%
Gross Margin
79.6%
QoQ +63.4 pp
YoY +7.2 pp
FCF Margin
-86.6%
QoQ +562.7 pp
YoY +5.6 pp
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Earnings press release
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SEC filings
Filed with the SEC under CIK 1682852.
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8-K results announcement
Filed Nov 6, 2025
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EXHIBIT 99.1 (EX-99)
Exhibit 99 to the 8-K
163 KB
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10-Q quarterly report
Period ended Sep 30, 2025, filed Nov 6, 2025
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