Does Moderna Need to Start Making Money?
Written by Matt Frankel for The Motley Fool -> Moderna is losing billions of dollars per year. The company has several promising new products that should be coming to the market within the next few years. Moderna has prioritized spending efficiency and has plenty of cash on it
The company has several promising new products that should be coming to the market within the next few years.
Moderna has prioritized spending efficiency and has plenty of cash on its balance sheet.
Moderna (NASDAQ: MRNA) is best known for its COVID-19 vaccines, which were fast-tracked for approval in 2020 and subsequently generated tens of billions of dollars in revenue.
However, a lot has changed in the past few years. Although Moderna's COVID-19 vaccines remain its primary revenue stream, sales are just a fraction of what they were during the pandemic. Plus, the company is losing money hand over fist, posting a $2.8 billion net loss in 2025 and expecting billions in losses in 2026 as well.
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Based on this, you might think Moderna would be a terrible investment. But I'm not sure that's the case, and there are three main reasons why.
Moderna has four commercial products today -- two COVID-19 vaccines, an RSV vaccine approved for vulnerable populations, and a combination COVID-19 and flu vaccine that was recently approved in Europe.
However, the real story is Moderna's pipeline. The company has over 30 vaccines and therapeutics in development, including its highly anticipated flu vaccine that is awaiting approval in the U.S. and Europe. It is developing several other vaccines, as well as treatments for rare diseases and several types of cancer.
