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Where the tokens are
Trade MRNA perpsStandardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q2 FY262026-06-30 | Q1 FY262026-03-31 | Q4 FY252025-12-31 | Q3 FY252025-09-30 | Q2 FY252025-06-30 | Q1 FY252025-03-31 | Q4 FY242024-12-31 | Q3 FY242024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $145.00M | $389.00M | $678.00M | $1.02B | $142.00M | $108.00M | $966.00M | $1.86B |
| Cost of revenue | $93.00M | $955.00M | $452.00M | $207.00M | $119.00M | $90.00M | $739.00M | $514.00M |
| Gross profit | $52.00M | −$566.00M | $226.00M | $809.00M | $23.00M | $18.00M | $227.00M | $1.35B |
| Gross margin | 35.9% | -145.5% | 33.3% | 79.6% | 16.2% | 16.7% | 23.5% | 72.4% |
| Research and development | $651.00M | $649.00M | $775.00M | $801.00M | $700.00M | $856.00M | $1.12B | $1.14B |
| Selling, general and administrative | $216.00M | $173.00M | $308.00M | $268.00M | $230.00M | $212.00M | $351.00M | $281.00M |
| Operating expenses | $867.00M | $822.00M | $1.08B | $1.07B | $930.00M | $1.07B | $1.47B | $1.42B |
| Operating income | −$815.00M | −$1.39B | −$857.00M | −$260.00M | −$907.00M | −$1.05B | −$1.25B | −$70.00M |
| Operating margin | -562.1% | -356.8% | -126.4% | -25.6% | -638.7% | -972.2% | -129.0% | -3.8% |
| EBITDA | −$752.00M | −$1.33B | −$790.00M | −$208.00M | −$850.00M | −$1.01B | −$1.19B | −$18.00M |
| Interest income | $67.00M | $72.00M | $70.00M | $73.00M | $81.00M | $90.00M | $91.00M | $103.00M |
| Interest expense | −$17.00M | $0 | $0 | — | −$1.00M | $0 | $0 | — |
| Income before taxes | −$767.00M | −$1.33B | −$799.00M | −$187.00M | −$818.00M | −$964.00M | −$1.18B | $21.00M |
| Income taxes | $15.00M | $9.00M | $27.00M | $13.00M | $7.00M | $7.00M | −$64.00M | $8.00M |
| Net income | −$782.00M | −$1.34B | −$826.00M | −$200.00M | −$825.00M | −$971.00M | −$1.12B | $13.00M |
| Net margin | -539.3% | -345.2% | -121.8% | -19.7% | -581.0% | -899.1% | -115.9% | 0.7% |
| EPS, basic | −$1.97 | −$3.40 | −$2.11 | −$0.51 | −$2.13 | −$2.52 | −$2.91 | $0.03 |
| EPS, diluted | −$1.97 | −$3.40 | −$2.11 | −$0.51 | −$2.13 | −$2.52 | −$3.02 | $0.03 |
| Diluted shares | 398.00M | 395.00M | 392.00M | 390.00M | 388.00M | 386.00M | 371.00M | 399.00M |
Figures describe Moderna shares, not any token. As of Jul 31, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.