Moderna stock: Profit returns as 2026 outlook rises

Moderna reported stronger-than-expected third-quarter results on Friday, November 6, and raised its full-year revenue outlook. The biotechnology company said revenue increased 29 percent from a year earlier, while net income returned to positive territory. CNBC reported that the improvement was driven mainly by international COVID vaccine sales and deliveries under long-term government partnerships.

Moderna stock traded at 203.45 euros on Lang & Schwarz at 14:11 CET on Friday, November 6; the real-time quote of Moderna stock is available here.

Revenue growth returns

Third-quarter revenue reached 1.31 billion US dollars, compared with 1.0 billion US dollars in the same period of 2025. The United States contributed 780 million US dollars, while international markets generated 533 million US dollars. The company linked the increase to higher overseas COVID vaccine sales and deliveries made through long-term government agreements.

Moderna posted net income of 162 million US dollars, or 38 cents per diluted share. A year earlier, it had reported a net loss of 200 million US dollars, or 51 cents per share. The result marks a sharp improvement in profitability as the company works to reduce its dependence on its original COVID vaccine franchise.

Research and development spending fell 27 percent to 583 million US dollars. CNBC said the decline reflected lower clinical development costs after the completion and wind-down of certain late-stage infectious disease studies, along with broader cost efficiencies.

Higher full-year expectations

Moderna now expects 2026 revenue growth of 15 percent to 25 percent, up from its previous forecast of growth of up to 10 percent. Chief Executive Stéphane Bancel told CNBC that newer products and a wider geographic presence supported the strong quarter. He said the next-generation COVID vaccine is now benefiting from a fuller year of contribution after a limited initial launch.

The company's stand-alone flu vaccine, approved in the United States in August, is also expected to have a limited 2026 launch because of its timing. That leaves international COVID sales and the gradual expansion of newer products as important near-term drivers for the revised outlook.

Investors are also weighing Moderna's oncology pipeline. The company and Merck recently reported encouraging late-stage data for an experimental personalized cancer vaccine combined with Keytruda in certain melanoma patients. Bancel said doctors and some long-term investors responded positively after reviewing the complete data, despite a sharp market reaction when part of the findings appeared on social media before a medical conference presentation.

For shareholders, the earnings report improves the near-term financial picture, but the longer-term investment case still depends on whether newer vaccines and oncology candidates can broaden revenue beyond COVID products. The raised outlook provides operational support, while clinical execution and product launches remain central risks.

The wider U.S. equity market provides the relevant backdrop for Moderna stock through current market reports.

More earnings updates and pipeline developments can be found in more news and analyses on Moderna stock.