---
title: "Moderna | 10-Q: FY2025 Q3 Revenue Beats Estimate at USD 1.016 B"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/264721100.md"
datetime: "2025-11-06T21:18:56.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/264721100.md)
  - [en](https://longbridge.com/en/news/264721100.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/264721100.md)
generator: "portal-rs"
---

# Moderna | 10-Q: FY2025 Q3 Revenue Beats Estimate at USD 1.016 B

Revenue: As of FY2025 Q3, the actual value is USD 1.016 B, beating the estimate of USD 869.89 M.

EPS: As of FY2025 Q3, the actual value is USD -0.51, beating the estimate of USD -2.1792.

EBIT: As of FY2025 Q3, the actual value is USD -333 M.

### Segment Revenue

-   **Net Product Sales**: $973 million for the three months ended September 30, 2025, compared to $1,820 million for the same period in 2024. For the nine months ended September 30, 2025, net product sales were $1,172 million, compared to $2,171 million for the same period in 2024.
-   **Other Revenue**: $43 million for the three months ended September 30, 2025, compared to $42 million for the same period in 2024. For the nine months ended September 30, 2025, other revenue was $94 million, compared to $99 million for the same period in 2024.

### Operational Metrics

-   **Net Loss**: - $200 million for the three months ended September 30, 2025, compared to net income of $13 million for the same period in 2024. For the nine months ended September 30, 2025, net loss was - $1,996 million, compared to - $2,441 million for the same period in 2024.
-   **Cost of Sales**: $207 million for the three months ended September 30, 2025, compared to $514 million for the same period in 2024. For the nine months ended September 30, 2025, cost of sales was $416 million, compared to $725 million for the same period in 2024.
-   **Research and Development Expenses**: $801 million for the three months ended September 30, 2025, compared to $1,137 million for the same period in 2024. For the nine months ended September 30, 2025, research and development expenses were $2,357 million, compared to $3,421 million for the same period in 2024.
-   **Selling, General and Administrative Expenses**: $268 million for the three months ended September 30, 2025, compared to $281 million for the same period in 2024. For the nine months ended September 30, 2025, selling, general and administrative expenses were $710 million, compared to $823 million for the same period in 2024.

### Cash Flow

-   **Net Cash Used in Operating Activities**: - $2,803 million for the nine months ended September 30, 2025, compared to - $3,829 million for the same period in 2024.
-   **Net Cash Provided by Investing Activities**: $1,994 million for the nine months ended September 30, 2025, compared to $2,488 million for the same period in 2024.
-   **Net Cash Provided by Financing Activities**: $12 million for the nine months ended September 30, 2025, compared to $59 million for the same period in 2024.

### Future Outlook and Strategy

-   **Core Business Focus**: Moderna expects demand for its COVID and RSV vaccines to follow a seasonal pattern aligned with fall and winter vaccination campaigns in both hemispheres. The company anticipates a decline in net product sales for the full year 2025 compared to 2024, primarily due to lower expected vaccination rates and a more competitive commercial market environment.
-   **Non-Core Business**: Moderna is advancing its pipeline and late-stage programs, including its intismeran autogene, norovirus, seasonal flu, and combination vaccine programs. The company is also implementing operational efficiencies across the organization, including meaningful resourcing adjustments to align with the current stage of its pipeline and to support long-term sustainability.
-   **Priority**: Moderna continues to invest in internal manufacturing capabilities to improve cost control and support potential future product launches. The company is making organizational refinements to better align resources with the evolving needs of the business and support long-term scalability.

### Related Stocks

- [MRNA.US](https://longbridge.com/en/quote/MRNA.US.md)

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**