Moderna, Inc. 8-K

What Happened

• Moderna, Inc. announced preliminary, unaudited financial information in a press release issued January 12, 2026, coinciding with its presentation at the 44th Annual J.P. Morgan Healthcare Conference. The company reported approximately $1.9 billion in revenue for the fiscal year ended December 31, 2025, expects GAAP operating expenses of $5.0–$5.2 billion for 2025, and reported an expected cash, cash equivalents and marketable securities balance of about $8.1 billion as of December 31, 2025. The 8-K notes the items are preliminary and unaudited.

Key Details

• Report date: January 12, 2026 (press release issued and 8-K filed).
• Preliminary 2025 revenue: approximately $1.9 billion (unaudited).
• Preliminary GAAP operating expenses for 2025: $5.0–$5.2 billion (unaudited).
• Preliminary cash, cash equivalents and marketable securities as of Dec 31, 2025: approximately $8.1 billion (unaudited).
• The filing states the disclosed information is preliminary/unaudited and not deemed "filed" under Section 18 of the Exchange Act.

Why It Matters

• These figures give investors an early look at Moderna’s full-year 2025 operating scale: revenue, expense run-rate, and year-end liquidity. The reported operating expense range materially exceeds the reported revenue figure, and the cash balance provides context on the company’s liquidity position heading into 2026. Because the numbers are preliminary and unaudited, investors should wait for the company’s finalized, audited financial statements for definitive results.