Moderna, Inc. (MRNA) Q3 2024 Earnings Breakdown
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Description
Key Highlights: Revenue: Total revenue for Q3 2024 was $1.862 billion, a slight increase compared to Q3 2023 ($1.831 billion). Net product sales were $1.820 billion, driven primarily by COVID-19 vaccine sales ($1.810 billion), and a small contribution from the newly launched RSV vaccine, mRESVIA ($10 million). Net Loss: Moderna reported a net loss of $70 million for Q3 2024, a significant improvement from the $2.012 billion net loss in Q3 2023. This is attributed to decreased operating expenses, particularly in cost of sales. Cash Position: Cash and cash equivalents decreased to $1.644 billion as of September 30, 2024, from $2.907 billion at the end of 2023. This is primarily due to investments in marketable securities and a share repurchase program.
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