Moderna reported third-quarter results that exceeded Wall Street expectations, prompting the biotech company to increase its full-year revenue guidance. The company now projects 2026 revenue growth between 15% and 25%, raising its prior forecast of up to 10% growth.
Third-quarter revenue climbed 29% year-over-year to $1.31 billion, bolstered by international Covid vaccine sales and long-term government contracts. Domestic revenue reached $780 million while international markets contributed $533 million. The company posted net income of $162 million, or 38 cents per share, compared with a net loss of $200 million or 51 cents per share in the year-ago quarter.
CEO Stéphane Bancel attributed the strong performance to new product momentum and geographic diversification across Canada, the U.K., and Asia, alongside cost reduction efforts. He noted that the company’s next-generation mRNA Covid vaccine, approved in May 2025, is experiencing increased uptake as it completes its first full year of impact. The newly approved flu shot, cleared in the U.S. in August, is expected to have a limited initial launch in 2026 due to timing considerations around vaccine procurement cycles.
Moderna’s stock advanced roughly 3% in premarket trading following the announcement. The company’s performance comes weeks after it and Merck released positive late-stage trial data on a personalized cancer vaccine candidate combined with immunotherapy, though the stock initially faced selling pressure when portions of that data circulated on social media before an official medical conference presentation.
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