Moderna posts Q2 revenue beat as COVID vaccine sales hold up, flu shot pending FDA review

Moderna reported second‑quarter revenue of $145 million, surpassing Wall Street estimates of $103 million, driven by stronger‑than‑expected sales of its COVID‑19 vaccine. The company’s shares fell more than 4 % in pre‑market trading after an experimental norovirus vaccine failed to meet its statistical benchmark in a late‑stage study.

The U.S. Food and Drug Administration is expected to decide on Moderna’s flu vaccine application by August 5, after a previous refusal was reversed. CEO Stéphane Bancel said the firm is counting on a flu shot and a future COVID‑flu combination to offset the decline in pandemic‑era COVID‑19 vaccine revenue. Moderna reiterated its outlook for up to 10 % revenue growth this year, with roughly half of sales expected from the United States.

Financially, the company posted a net loss of $782 million, reduced cash and investments to $6.9 billion, and cut cash costs by 10 % while lowering R&D and cost‑of‑sales forecasts. The geographic revenue mix was about 60 % U.S. and 40 % international, with strategic partnerships in the U.K., Canada and Australia supporting growth.