Moderna Reports Larger-Than-Expected Q4 Loss as COVID Vaccine Sales Plummet

The biotech company faces declining demand for its COVID-19 vaccine, a $238M manufacturing charge, and reduced 2025 revenue forecasts.

Moderna posted a Q4 loss of $2.91 per share, exceeding analysts' expected loss of $2.68 per share, while revenue slightly beat estimates at $1 billion.
A $238 million non-cash charge from terminating a manufacturing contract contributed significantly to the quarterly loss.
COVID-19 vaccine sales, which remain Moderna's primary revenue driver, have dropped sharply, leading to a 66% year-over-year decline in total revenue.
The company has reduced its 2025 revenue forecast to $1.5–$2.5 billion, down from analysts' prior expectations of nearly $3 billion.
Moderna is pursuing new opportunities, including a $590 million U.S. government grant to develop a bird flu vaccine, and is working on personalized cancer vaccine technology.