Moderna, Inc. · Q4 2025
ReportedFeb 13, 2026
Period endedDec 31, 2025
Rule of 40n/m
The quarter in short
Revenue $678M, down 29.8% year over year and 33.3% on the quarter. EPS −$2.11, up 27.5% year over year and down 313.7% on the quarter. Free cash flow $891M, up 194.1% year over year.
Reported this quarter
Revenue
$678M
QoQ −33.3%
YoY −29.8%
EPS
−$2.11
QoQ −313.7%
YoY +27.5%
Free Cash Flow
$891M
QoQ —
YoY +194.1%
Gross Margin
33.3%
QoQ −46.3 pp
YoY +9.8 pp
FCF Margin
131.4%
QoQ +218.0 pp
YoY +100.0 pp
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Sources & downloads
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SEC filings
Filed with the SEC under CIK 1682852.
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8-K results announcement
Filed Feb 13, 2026
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Exhibit 99.1 to the 8-K
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Period ended Dec 31, 2025, filed Feb 20, 2026
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This quarter (JSON)
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