Moderna stock returns to profit as 2026 revenue outlook rises

Moderna reported a return to quarterly profitability on November 6, 2026, and raised its full-year revenue outlook. The biotechnology company said in its third-quarter results that revenue reached $1.3 billion, while GAAP net income was $0.2 billion and diluted earnings per share were $0.38.

The earnings return marks a sharp change from the pressure that had weighed on Moderna during the previous year. The company reported a net loss of $0.2 billion in the third quarter of 2025. The latest quarter also delivered revenue growth of 29%, according to the company.

Guidance points to stronger growth

Moderna now expects total revenue to grow 15% to 25% in 2026. That range exceeds the previous outlook of up to 10% growth. The revised forecast gives investors a clearer financial target after several quarters in which falling COVID-19 vaccine sales and high development costs challenged the recovery case.

The company also improved its 2026 GAAP operating expense outlook by approximately $0.2 billion from its previous estimate. At the same time, Moderna raised its expected year-end cash and investments balance to $8.1 billion to $8.3 billion. The higher liquidity target strengthens the company's flexibility as it advances late-stage programs and expands its commercial portfolio.

Moderna attributed the quarter's performance to stronger product demand and execution across its business. The company highlighted positive Phase 3 results for intismeran and the U.S. Food and Drug Administration approval of mFLUSIVA, its fifth approved product globally. These developments broaden the pipeline beyond the established COVID-19 franchise, although commercial delivery and future launch performance remain important for the revised outlook.

Pipeline execution remains central

For investors, the results shift the immediate focus from survival and cost control toward execution. The higher revenue range and return to profit provide support for the recovery narrative, but the outlook still depends on demand across markets, product launches and the timing of vaccine deliveries. The expected cash balance also includes the effect of financing, so stronger liquidity does not by itself establish a lasting improvement in operating cash generation.

Moderna stock traded at 208.18 euros on Lang & Schwarz at 13:23 CET on Friday, November 13, 2026.

Broader sentiment for U.S. biotechnology shares remains relevant as investors weigh rate expectations, funding conditions and clinical execution. See the latest S&P 500 market developments.

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