Moderna, Inc. Q2 FY26 Results — Earnings Call Analysis
Published 29 May 2026 | Biotechnology | Market Cap: ₹18.9K Cr
- Moderna expects up to 10% revenue growth in 2026, driven by strategic partnerships and continued growth of mNEXSPIKE. - International and U.S. - Moderna expects total revenue growth of up to 10% in 2026, driven by international strategic partnerships and continued growth of mNEXSPIKE.
From Moderna, Inc.'s Q2 FY26 earnings-call transcript · updated 29 May 2026.
Price
₹47.57
Market Cap
₹18.9K Cr
Revenue Rank
Margin Rank
How does Moderna, Inc. rank in Biotechnology?
Compare Moderna, Inc. against every Biotechnology company this quarter on revenue, margins and earnings-call signals.
📊 Revenue & Sales Performance
Rank 4- →Moderna expects up to 10% revenue growth in 2026, driven by strategic partnerships and continued growth of mNEXSPIKE.
- →International and U.S. markets are anticipated to have a roughly 50-50 revenue split.
- →New product approvals in the EU for the flu plus COVID combo vaccine and RSV vaccine are expected to contribute to revenue growth starting in 2027.
- →The flu vaccine mRNA-1010 has a PDUFA date set for August 5, 2026, aiming to support future sales.
- →Commercial launch of the COVID-flu combination vaccine targeted for 2027 with significant growth expected in 2028.
- →The respiratory vaccines market in Europe is valued around $1.8 to $2 billion annually, and Moderna aims to capture a large share.
- →Continued pipeline advancement including oncology and rare diseases is expected to drive long-term growth.
📈 Profitability & Margins
Rank 3- →Moderna expects total revenue growth of up to 10% in 2026, driven by international strategic partnerships and continued growth of mNEXSPIKE.
- →Revenue guidance assumes no contribution from flu vaccine or certain other pipeline products in 2026.
- →Operating expenses (excluding litigation charge) projected at $4.9 billion GAAP, with cash costs around $4.2 billion.
- →Net loss includes a one-time $0.9 billion litigation charge; excluding this, net loss improved by over 50% versus prior year.
- →The company anticipates a successful commercial launch of new vaccines (flu plus COVID combo) in Europe starting 2027, driving growth in 2027 and 2028.
- →No explicit guidance on EPS provided, but improved revenue and reduced adjusted cash costs indicate operational leveraging.
- →Pipeline advances and new product approvals (e.g., norovirus, Intismeran, propionic acidemia) expected to contribute to longer-term profitability.
🏗️ Capital Expenditure Plans
Yes- →Moderna projects capital expenditures (capex) between $0.2 billion and $0.3 billion for 2026.
- →The company continues to invest in its pipeline while maintaining financial discipline.
- →Strategic investments include expanding the mRNA platform to new drug modalities and families of medicines.
- →They are investing in AI and robotics to accelerate discovery of new technologies and expand mRNA use.
- →The company is focused on geographic expansion and advancement of product pipeline, including new vaccine launches.
- →No material impacts are expected from geopolitical conflicts on the 2026 financial outlook.
- →Moderna maintains a strong balance sheet with $7.5 billion in cash and investments at Q1 2026 end.
💰 Fundraising & Capital Structure
No information- →Moderna does not anticipate any current or immediate new fundraising through debt or equity.
- →The company ended Q1 2026 with $7.5 billion in cash and investments.
- →Cash guidance for 2026 does not assume any additional drawdown from their remaining $0.9 billion undrawn credit facility.
- →Capital expenditures are projected between $0.2 billion and $0.3 billion for 2026.
- →There is no indication of planned equity raises or debt issuance beyond existing credit facilities mentioned.
📋 Order Book & Pipeline
No information- →The UK spring campaign delivery occurred in Q1 2026; a second campaign (fall booster) is planned for Q3/Q4 2026, implying a potential double order year in the UK.
- →Germany's campaigns for respiratory vaccines (flu, COVID, RSV) are also underway with continued deliveries anticipated.
- →France is actively engaged in market access and reimbursement processes post-approval of the COVID-flu combination vaccine.
- →Across major European markets, securing market access and pricing discussions are ongoing throughout H2 2026.
- →The respiratory vaccine market in Europe is estimated at about $2 billion, presenting a large opportunity.
- →Sales guidance includes international revenues, with Q2 expected between $50 million-$100 million split evenly between US and international.
- →Moderna expects a successful product launch in 2027, with significant revenue uplift in 2028 as pricing and access processes complete.
Key Metrics
Revenue
Margin
Capex
Fundraise
Order Book
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Frequently Asked Questions
What were Moderna, Inc. Q2 FY26 results?
- Moderna expects up to 10% revenue growth in 2026, driven by strategic partnerships and continued growth of mNEXSPIKE. - International and U.S. - Moderna expects total revenue growth of up to 10% in 2026, driven by international strategic partnerships and continued growth of mNEXSPIKE.
What is Moderna, Inc. share price analysis?
Moderna, Inc. currently shows a neutral. The stock trades at a P/E of -11.2 with a market cap of $18,875. Investors should review the full earnings analysis for detailed insights.
Is Moderna, Inc. planning capital expenditure?
- Moderna projects capital expenditures (capex) between $0.2 billion and $0.3 billion for 2026.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.