Want to see MRNA full AI Analyst Report?
Operating Expense Breakdown
Details core costs like R&D, marketing, and admin, offering insight into how efficiently Moderna runs and where it’s prioritizing investment, crucial for understanding its focus on innovation and market expansion.R&D and SG&A have been pared back sharply from their pandemic-era peaks as Moderna shifts from volume-driven spending to a leaner operating base—this reflects Phase III wind‑downs and explicit cost discipline. Management confirms lower adjusted cash costs and SG&A targets while keeping R&D weighted to H2, so investment is being deferred rather than cut entirely. That boosts adjusted profitability but raises execution risk for late‑stage programs and global commercialization; the large litigation settlement inflates GAAP losses but is distinct from the OpEx trend.
Date | Research and Development | Selling, General, and Administrative |
|---|---|---|
Jun 30, 2026 | $651.00M | $216.00M |
Mar 31, 2026 | $649.00M | $173.00M |
Dec 31, 2025 | $775.00M | $308.00M |
Sep 30, 2025 | $801.00M | $268.00M |
Jun 30, 2025 | $700.00M | $230.00M |
Mar 31, 2025 | $856.00M | $212.00M |
Dec 31, 2024 | $1.12B | $351.00M |
Sep 30, 2024 | $1.14B | $281.00M |
Jun 30, 2024 | $1.22B | $268.00M |
Mar 31, 2024 | $1.06B | $274.00M |