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Dec 31, 2021
Moderna Q4 2021 Earnings Report
Moderna reported strong Q4 2021 results driven by increased product sales.
Key Takeaways
Moderna reported Q4 2021 revenues of $7.2 billion, a significant increase compared to $571 million in the same period of 2020. GAAP net income for the quarter was $4.9 billion, with a diluted EPS of $11.29. The company's full year revenue reached $18.5 billion, with a net income of $12.2 billion and diluted EPS of $28.29.
Q4 2021 revenues reached $7.2 billion, driven by increased product sales of the COVID-19 vaccine.
GAAP net income for Q4 2021 was $4.9 billion, with a diluted EPS of $11.29.
Full year 2021 revenues amounted to $18.5 billion, with a net income of $12.2 billion and diluted EPS of $28.29.
Moderna increased its 2022 signed advance purchase agreements to approximately $19 billion, with additional signed options of approximately $3 billion.
Moderna
Moderna
Forward Guidance
Moderna has signed 2022 APAs for product sales of approximately $19 billion and approximately $3 billion in options (probabilized) including for any potential updated COVID-19 vaccine booster candidates.
Positive Outlook
- Moderna has signed 2022 APAs for product sales of approximately $19 billion
- The company has approximately $3 billion in options (probabilized)
- Moderna is currently in active discussions for additional orders in 2022.
- The company believes that the SARS-CoV-2 virus will evolve to an endemic phase in 2022.
- Sales are expected to be larger in the second half of 2022 than in the first half.
Challenges Ahead
- Cost of sales as percentage of product sales are expected to be in the low-to-mid 20s percentage range.
- Full year Research & Development (R&D) and Selling, General & Administrative (SG&A) Expenses are expected to be approximately $4 billion.
- The Company expects an Effective Tax Rate for the full year in the mid-teen percentage range.
- Expect capital investments for 2022 in the range of $0.6-$0.8 billion.
- The forward-looking statements in this presentation are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna’s control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements.