Key facts
- Moderna now expects 2026 total revenue to grow 15% to 25%, above its previous forecast of up to 10% growth.
- Third-quarter revenue of $1.3 billion topped the $885.1 million average analyst estimate compiled by LSEG.
- Moderna earned a net profit of $162 million, compared with a net loss of about $200 million a year earlier.
- The FDA cleared Moderna's mFlusiva flu vaccine in August for adults aged 50 and older.
- Moderna and Merck said intismeran autogene with Keytruda cut melanoma recurrence or death risk by 42% in a trial.
- Moderna shares have risen more than eight-fold in 2026, mostly after the August trial announcement.
Moderna lifted its full-year 2026 revenue forecast on Friday, November 6, 2026, saying it now expects total revenue to grow 15% to 25%, above its previous forecast of up to 10% growth. The company pointed to strong international demand for its COVID-19 vaccine and payments from partnerships.
The raised outlook came alongside third-quarter results. Moderna reported revenue of $1.3 billion, topping analysts' average estimate of $885.1 million, according to data compiled by LSEG. It earned a net profit of $162 million, compared with a net loss of about $200 million a year earlier.
The results support Moderna's effort to build a business beyond its COVID-19 shot. The US FDA cleared its flu vaccine, mFlusiva, in August for adults aged 50 and older, the first authorization of an mRNA-based seasonal influenza shot. Moderna said it plans a limited US launch during the 2026-27 flu season because the approval came after flu vaccine contracts for the year were wrapped up.
Moderna and partner Merck said last month that their personalized cancer vaccine, intismeran autogene, combined with Merck's immunotherapy Keytruda cut the risk of melanoma recurrence or death by 42% in a large trial. The companies anticipate commercial launch of the treatment in 2027.
Moderna shares have risen more than eight-fold in 2026, mostly after the August announcement of the intismeran autogene trial success, making them one of the best performers in the S&P 500.