01—Abstract
Summary
Summary of the 8-K filed January 12, 2026. Cited figures are marked; the original filing is the authoritative source.
Moderna, Inc. (MRNA) filed an 8-K on January 12, 2026, providing preliminary financial updates for the fiscal year ended December 31, 2025, during its presentation at the J.P.
Morgan Healthcare Conference. The company anticipates approximately $1.9 billiona in revenue for the full year 2025. This revenue figure should be considered in conjunction with expected GAAP operating expenses, which are projected to be in the range of $5.0 billion to $5.2 billion for the same period.
Despite the anticipated operating expense levels, Moderna maintains a strong liquidity position, expecting to close the year with approximately $8.1 billionb in cash, cash equivalents, and marketable securities as of December 31, 2025. Investors should note that these figures are preliminary and unaudited, and the company's full financial statements for the year are still undergoing audit, which may lead to revisions.
02—Key points
Key Highlights
- Preliminary full-year 2025 revenue expected to be approximately $1.9 billion.
- Anticipated GAAP operating expenses for 2025 range from $5.0 billion to $5.2 billion.
- Estimated cash, cash equivalents, and marketable securities as of December 31, 2025, stand at approximately $8.1 billion.
- Financial information is preliminary and unaudited.
- The provided financial data is subject to change pending the completion of the annual audit for fiscal year 2025.
- The update was provided during the 44th Annual J.P. Morgan Healthcare Conference.
03—Questions
Frequently Asked Questions
What is Moderna's expected revenue for the fiscal year 2025?
Moderna expects approximately $1.9 billion in revenue for the fiscal year ended December 31, 2025. This figure is preliminary and unaudited.
What are Moderna's projected operating expenses for 2025?
The company anticipates GAAP operating expenses to be in the range of $5.0 billion to $5.2 billion for the fiscal year 2025. These are also preliminary and unaudited figures.
What is Moderna's expected cash position at the end of 2025?
Moderna expects to have approximately $8.1 billion in cash, cash equivalents, and investments in marketable securities as of December 31, 2025. This is a preliminary and unaudited estimate.
Can investors rely on these financial numbers as final?
No, the financial information presented is preliminary and unaudited. The company's audit for the fiscal year ended December 31, 2025, is ongoing, and the final audited financial statements may differ from these preliminary figures.
04—Continue