Q3 2025 Moderna Inc Earnings Call Transcript
Key Points
- Moderna Inc (MRNA) reported $1 billion in revenue for the third quarter, driven by sales of their approved vaccines.
- The company achieved a 34% reduction in combined costs of sales, R&D, and SG&A compared to the third quarter of 2024.
- Moderna Inc (MRNA) received approval for their new COVID vaccine, mNEXSPIKE, in the US and Canada, marking a significant milestone.
- The company has established strategic partnerships with Canada, the UK, and Australia, securing multiyear offtake agreements and local manufacturing facilities.
- Moderna Inc (MRNA) is on track to beat their 2025 cost plan by over $1 billion on a GAAP basis and by $900 million on a cash cost basis.
- The net loss for the third quarter was $200 million, compared to a net income of $13 million in Q3 2024.
- There was a 45% year-over-year decline in revenue, primarily due to lower COVID vaccine demand.
- Moderna Inc (MRNA) announced the discontinuation of their CMV vaccine development after failing to meet primary efficacy endpoints.
- The company narrowed its full-year 2025 revenue guidance, indicating a potential decline in expected sales.
- COVID vaccination rates remain a significant variable, with US vaccination rates down approximately 30% year-over-year.
Good day, and thank you for standing by. Welcome to the Moderna third quarter 2025 conference call. (Operator Instructions)
Please be advised today's conference is being recorded. I would now like to hand the conference over to your speaker today, Lavina Talukdar. Please go ahead.
Thank you, Kevin. Good morning, everyone, and thank you for joining us on today's call to discuss Moderna's third quarter 2025 and financial results and business updates. You can access the press release issued this morning as well as the slides that we will be reviewing by going to the Investors section of our website. On today's call are Stephane Bancel, our Chief Executive Officer; Stephen Hoge, our President; and Jamey Mock, our Chief Financial Officer.
Before we begin, please note that this conference call will include forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Please see slide 2 of the accompanying presentation and our
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