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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.
Moderna
Moderna
Moderna Revenue by Geographic Location
Revenue by Geographic Location
International Revenue
CapyFin.com 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