Moderna on Friday smashed third-quarter revenue and earnings estimates and hiked its outlook for full-year sales growth, as some of its newer products gain momentum.
The biotech company now expects 2026 revenue growth of 15% to 25%, up from its previous guidance of up to 10%. “The new product and the diversification of geography is what has led to such a strong Q3,” Moderna CEO Stéphane Bancel said in an interview ahead of the results
For example, he said the company is seeing the “full-year impact” of its next-generation mRNA Covid vaccine, which won U.S. approval in May 2025. Bancel noted that Covid is a seasonal business and vaccine contracts are typically established in the first quarter, so Moderna’s shot only had a “small launch” to start with last year. Moderna’s new stand-alone flu shot, which was approved in the U.S. in August, will similarly have a “limited launch” in the country in 2026 given the timing, he said.
Here’s what Moderna reported for the third quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG: – Earnings per share: 38 cents per share vs. an expected loss of $1.25 – Revenue: $1.31 billion vs. $885.1 million expected Moderna’s third-quarter revenue jumped 29% to $1.31 billion, boosted by higher Covid vaccine sales in international markets and helped by deliveries under long-term government partnerships. Revenue was $780 million in the U.S. and $533 million in international markets. The company posted a net income of $162 million, or 38 cents per share, for the third quarter.