Moderna, Inc. · MRNA · Next earnings

Moderna, Inc. reports Thursday, Nov 5, 2026

MRNA reports before market open with consensus EPS at $-1.31 and revenue at $895.0M. Last quarter: Moderna Q1 Revenue Beats on UK Demand; $950M Settlement Masks Narrower Loss

Reports Before market open46 days awayDate estimated Healthcare

What the street expects

Consensus for the coming report
Consensus EPS $-1.31 Calendar consensus
Consensus revenue $895.0M Calendar consensus
Report date Nov 5, 2026 Thursday, date estimated
Session Before market open 46 days away

Where MRNA left off: FY2026 Q1

Full report

Moderna Q1 Revenue Beats on UK Demand; $950M Settlement Masks Narrower Loss

EPS surprise +23.6% Reported $-3.40 vs $-4.45
Revenue surprise +64.6% Reported $389.0M vs $236.4M
Stock move -1.2% Event window
Subsequent drift +1.5% Up to 20 sessions

Management maintained its 2026 revenue growth target of up to 10%, consistent with the prior quarter's raised outlook. Cost-of-sales and cash-cost targets were also maintained. Capex outlook shifted from increasing (prior quarter) to stable, signaling tighter capital deployment.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Potential additional $1.3B liability under Section 1498 if litigation is lost, though management deems it improbable.
  • Declining COVID vaccine demand could pressure revenues as the pandemic-era market continues to normalize.
  • Regulatory timing and approval risk for flu, norovirus, and oncology assets, including the August 5 PDUFA for mRNA-1010.
  • Manufacturing cost pressures despite cost-reduction initiatives.
  • Competitive pressure in the COVID vaccine market and potential pricing constraints in Europe.

Questions analysts left open

  • Details and timing of interim Phase III analyses for Intismeran in lung and melanoma.
  • Potential outcomes and futility criteria for those interim analyses.
  • Impact and timeline of the Section 1498 litigation settlement and whether the contingent $1.3B exposure materializes.
  • PDUFA timeline and FDA interaction for mRNA-1010 flu vaccine.
  • Revenue composition in Q2 and the possibility of a double-order year in the UK.

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Recent MRNA quarters

All MRNA earnings
-1.2%FY2026 Q1

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q1

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.