Moderna Q4 Earnings 2024

Moderna Reports Mixed Q4 Results, Beats Estimates But Posts Larger-than-Expected Loss

Moderna, a biotech company, posted fourth-quarter revenue that beat estimates, but lost more than expected for the period, as it continues to slash costs and demand for its Covid vaccine falls.

Key Takeaways

• The company reported a net loss of $1.12 billion, or $2.91 per share, for the fourth quarter of 2024, compared to net income of $217 million, or 55 cents per share, reported for the year-ago period.
• The company reduced costs by 27% compared to 2023, and expects to cut costs by $1 billion compared to 2024 by the end of 2025.
• Moderna reiterated its full-year 2025 product sales guidance of $1.5 billion to $2.5 billion, with most of it coming in the second half of the year.

Fourth Quarter Results

Moderna posted fourth-quarter sales of $966 million, less than half of the $2.8 billion it recorded during the same period a year ago. The vast majority of that total came from its Covid shot, which raked in $923 million, down 66% from the prior year.

Covid Vaccine Sales

The company’s Covid vaccine sales fell internationally because it continued to phase out advance purchase agreements with certain countries. The company also experienced a decline in sales due to the earlier launch of its newest iteration of the Covid shot, which shifted sales into the third quarter.

RSV Vaccine Sales

Moderna’s RSV shot, which rolled out to seniors in the fall and winter after winning approval in May, brought in $15 million in U.S. sales during the quarter. This is slightly higher than the $13 million analysts had expected.

Future Outlook

Moderna is betting on a pipeline built around its messenger RNA platform, which is the technology used in both of its products. The company plans to beef up its portfolio with 10 new product approvals over the next three years.

Cost of Sales and Research and Development Expenses

The company’s cost of sales for the fourth quarter was $739 million, down 20% from the same period a year ago. Research and development expenses dropped 20% to $1.1 billion compared with the same period in 2023.

Conclusion

Moderna’s mixed Q4 results reflect the company’s ongoing efforts to slash costs and adapt to the declining demand for its Covid vaccine. While the company’s revenue beat estimates, it reported a larger-than-expected loss. Moderna’s focus on its pipeline of new products and its cost-cutting efforts may help it recover in the long run.

FAQs

Q: What were Moderna’s Q4 results?
A: Moderna reported a net loss of $1.12 billion, or $2.91 per share, for the fourth quarter of 2024.

Q: How did Moderna’s Q4 revenue compare to estimates?
A: Moderna’s Q4 revenue of $966 million beat estimates of $942.8 million.

Q: What were the main drivers of Moderna’s Q4 results?
A: The company’s Covid vaccine sales and cost-cutting efforts were key factors in its Q4 results.

Q: What is Moderna’s outlook for 2025?
A: The company reiterated its full-year 2025 product sales guidance of $1.5 billion to $2.5 billion, with most of it coming in the second half of the year.