Moderna (MRNA) revenue breakdown
By product, Net product sales is the largest at 94% of fiscal 2025 revenue, growing 55% a year over 5 years.
By region, United States is the largest at 62% of fiscal 2025 revenue; Rest of world grew fastest, 158% a year over 5 years.
Revenue by product
Fiscal years, as Moderna reports them in its 10-K filings; fiscal 2025 total $1.9B.
| Products | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|
| Net product sales | — | $200M | $17.7B | $18.4B | $6.7B | $3.1B | $1.8B | 94% |
| Other revenue | — | — | $796M | $828M | $177M | $127M | $126M | 6% |
| Grant revenue | $12M | $529M | — | — | — | — | — | — |
| Collaboration revenue | $48M | $74M | — | — | — | — | — | — |
Revenue by region
Fiscal years, as Moderna reports them in its 10-K filings; fiscal 2025 total $1.9B.
| Regions | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|
| United States | $55M | $764M | $6.2B | $5.2B | $1.9B | $1.8B | $1.2B | 62% |
| Rest of world | — | $6M | $5.4B | $7.3B | $3.6B | $853M | $692M | 36% |
| Europe | $5M | $33M | $6.8B | $6.8B | $1.4B | $598M | $53M | 3% |
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Where does Moderna make its money?
In fiscal 2025, by product: Net product sales $1.8B, Other revenue $126M.
From Moderna's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.