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Moderna, Inc. Total Operating Expenses 2016-2026 | MRNA

Annual FY2016–FY2025 · quarterly through Q1 FY2026

Latest annual · FY2025

$5.02B

−30.1%YoY vs FY2024Source: 10-KFY2025

From $332.2M in FY2016 to $5.02B in FY2025: 15.1× in 9 years.

By quarter▲▼ vs a year before
Fiscal yearQ1Q2Q3Q4
FY26$1.8B+53.5%Not reportedNot reportedNot reported
FY25$1.2B−19.2%$1.0B−34.6%$1.3B−34.0%$1.5B−30.6%
FY24$1.4B−35.7%$1.6B−27.5%$1.9B−49.7%$2.2B−21.1%
FY23$2.2B+21.2%$2.2B−4.0%$3.8B+74.8%$2.8B−19.9%
FY22$1.8B+174.1%$2.3B+78.2%$2.2B+55.8%$3.5B+94.6%
Share19%21%27%34%

Shaded by size: darkest is the largest quarter shown; ringed is the latest reported; a dash marks a quarter with no separate figure. Each quarter sits by its period-end date. Share: its typical part of the fiscal year.

Key Statistics

Trend DirectionDeclining
CAGR

+26.2%

FY2020
$1.57B
FY2025
$5.02B

5 years selected · on the chart

Total Operating Expenses History

Year-over-year comparison from 10-K annual reports

  1. $5.02B
YoY changeLargest recent move+230.5%in FY21Latest −30.1%

2 older moves run past ±150% (largest +230.5%); point at, tap or drag across the bars to read one.

Total Operating Expenses, period by period

PeriodValueChangeSource
FY2025$5.02B−30.1%10-K
FY2024$7.18B−35.2%10-K
FY2023$11.09B+12.6%10-K
FY2022$9.84B+90.2%10-K
FY2021$5.17B+230.5%10-K
FY2020$1.57B+158.4%10-K
FY2019$605.9M+10.5%10-K
FY2018$548.3M+15.4%10-K
FY2017$475.2M+43.1%10-K
FY2016$332.2M—10-K

What is total operating expenses?

Total operating expenses include all costs related to running the core business, including cost of goods sold, R&D, and SG&A.

What is Moderna, Inc.'s current total operating expenses?

Moderna, Inc. (MRNA) annual total operating expenses for 2025 was $5.02B, a 30.12% decline from 2024. Moderna, Inc. total operating expenses for the quarter ending March 31, 2026 was $1.78B.

What was Moderna, Inc.'s total operating expenses in 2024?

Moderna, Inc. annual total operating expenses for 2024 was $7.18B, a 35.23% decline from 2023.

What was Moderna, Inc.'s total operating expenses in 2023?

Moderna, Inc. annual total operating expenses for 2023 was $11.09B, a 12.64% increase from 2022.

What is Moderna, Inc.'s 5-year total operating expenses CAGR?

Moderna, Inc. total operating expenses grew at a compound annual growth rate (CAGR) of 26.23% from FY2020 to FY2025, going from $1.57B to $5.02B over 5 years.

Company
Moderna, Inc.
Ticker
MRNA
Sector
Healthcare
Industry
Biological Products, (No Diagnostic Substances)