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yesterday

Moderna Beats Q2 Forecasts But Lowers Full-Year Outlook and Delays U.K. Boosters

Moderna’s revised strategy is defined by strong spring booster uptake, $800 million in cost cuts, a lowered full-year revenue outlook, deferred U.K. shipments into 2026.

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A sign marks the offices of Moderna in Cambridge, Massachusetts, U.S., July 22, 2025. REUTERS/Brian Snyder/File Photo
A vial of the Moderna coronavirus disease (COVID-19) booster vaccine targeting BA.4 and BA.5 Omicron sub variants is pictured at Skippack Pharmacy in Schwenksville, Pennsylvania, U.S., September 8, 2022. REUTERS/Hannah Beier/File Photo
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Overview

  • Moderna reported second-quarter revenue of $142 million and an adjusted loss of $2.13 per share, surpassing analyst expectations of $113 million and a $2.97 per-share loss.
  • The company achieved $800 million in cost reductions in the first half of 2025 and announced plans to cut around 10% of its global workforce by year-end.
  • Full-year revenue guidance was trimmed to between $1.5 billion and $2.2 billion, reducing the top end by $300 million as COVID vaccine demand wanes.
  • Spring COVID booster shipments to the United Kingdom have been deferred into the first quarter of 2026 without altering the total contract value.
  • Moderna is shifting focus to next-generation mRNA candidates—including an experimental COVID-flu combination shot—to counter declining Spikevax and RSV vaccine sales.