https://assets.capyfin.com/instruments/678fdc13234e27009c5d5be4.png avatar
Moderna
🇺🇸 NASDAQ:MRNA
View Company
OverviewEarningsDividends
•
Dec 31, 2023

Moderna Q4 2023 Earnings Report

Moderna reported a decrease in revenue due to lower COVID-19 vaccine sales but made pipeline advancements.

Key Takeaways

Moderna's Q4 2023 revenue was $2.8 billion, with a net income of $217 million and diluted EPS of $0.55. The company's full-year revenue was $6.8 billion, with a net loss of $4.7 billion and diluted EPS of $(12.33). The company reaffirms its 2024 product sales guidance of $4 billion.

Q4 revenue reached $2.8 billion, primarily from Spikevax sales.

Net income for Q4 was $217 million, with diluted EPS at $0.55.

Full-year revenue was $6.8 billion, with a net loss of $4.7 billion driven by non-cash charges.

Moderna reaffirms its 2024 product sales outlook of approximately $4 billion.

Total Revenue
$2.81B
Previous year: $5.08B
-44.7%
EPS
$0.55
Previous year: $3.61
-84.8%
R&D Expense
$1.41B
SG&A Expense
$470M
Gross Profit
$1.88B
Previous year: $3.17B
-40.6%
Cash and Equivalents
$2.91B
Previous year: $3.21B
-9.3%
Free Cash Flow
-$149M
Previous year: $1.57B
-109.5%
Total Assets
$18.4B
Previous year: $25.9B
-28.7%

Moderna

Moderna

Forward Guidance

Moderna expects revenue of approximately $4 billion for 2024 from its respiratory franchise and anticipates cost of sales to be approximately 35% of product sales. Full-year 2024 research and development expenses are expected to be approximately $4.5 billion, with selling, general, and administrative expenses of approximately $1.3 billion. The company anticipates its full-year tax expense to be negligible and expects capital expenditures for 2024 of approximately $0.9 billion, with year-end cash and investments of approximately $9 billion.

Positive Outlook

  • Expected revenue of approximately $4 billion for 2024 from its respiratory franchise.
  • Cost of sales for 2024 expected to be approximately 35% of product sales.
  • Advancing pipeline with numerous product milestones expected in 2024.
  • Potential for regulatory approvals of RSV vaccine beginning in the first half of 2024.
  • Focus on commercial execution and continued investment in pipeline with financial discipline.

Challenges Ahead

  • Research and development expenses for full-year 2024 expected to be approximately $4.5 billion.
  • Selling, general, and administrative expenses for full-year 2024 expected to be approximately $1.3 billion.
  • Capital expenditures for 2024 expected to be approximately $0.9 billion.
  • Anticipates year-end cash and investments of approximately $9 billion
  • Decrease in revenue compared to previous year

Company Overview

Full financial data and analysis

View Moderna