Moderna says its expects $1.9 billion in 2025 sales amid better-than-expected vaccination rate
Moderna, which has been bleeding money since 2023, said it expects to break even in 2028.
Moderna said its COVID-19 business did better than expected last year, driven by lower-than-anticipated declines in vaccination rates despite attacks from the Trump administration.
The company expects to report total 2025 revenue of $1.9 billion, on the high end of its latest guidance of between $1.6 billion and $2 billion. Moderna is best known for being tapped by the US government to quickly develop a vaccine for COVID-19 in 2020, a product that remains its single source of revenue.
Speaking at the JPMorgan Healthcare Conference in San Francisco, Moderna Chief Financial Officer James Mock told reporters that US vaccination rates in the retail sector fell by roughly 26% year over year in 2025, which is on the lower end of the 20% to 40% decline the company predicted. This comes as the administration has narrowed its guidance for who it recommends gets vaccinated for COVID-19.
Moderna, which has been bleeding money since 2023, said it expects to break even in 2028.
The company has been on an aggressive cost-cutting campaign and has new products in its pipeline, including a norovirus vaccine and a combination COVID-19/flu vaccine.
