Moderna annual gross margin
2018
2019
2020
2021
2022
2023
2024
2025
Moderna Gross Margin Growth & History (MRNA)
Moderna's gross margin was 55.35% for fiscal 2025.
View full Moderna company overviewModerna annual gross margin history
| Fiscal year | Period ended | Gross margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 55.35% | +0.59 pp |
| 2024 | 2024-12-31 | 54.76% | +23.29 pp |
| 2023 | 2023-12-31 | 31.47% | −40.41 pp |
| 2022 | 2022-12-31 | 71.88% | −13.95 pp |
| 2021 | 2021-12-31 | 85.83% | −13.17 pp |
| 2020 | 2020-12-31 | 99.00% | −1.00 pp |
| 2019 | 2019-12-31 | 100.00% | 0.00 pp |
| 2018 | 2018-12-31 | 100.00% | — |
Moderna quarterly gross margin
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Gross margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 35.86% | +19.66 pp |
| Q1 2026 | 2026-03-31 | −145.50% | −162.17 pp |
| Q4 2025 | 2025-12-31 | 33.33% | +9.83 pp |
| Q3 2025 | 2025-09-30 | 79.63% | +7.23 pp |
| Q2 2025 | 2025-06-30 | 16.20% | −36.08 pp |
| Q1 2025 | 2025-03-31 | 16.67% | −25.85 pp |
| Q4 2024 | 2024-12-31 | 23.50% | −43.45 pp |
| Q3 2024 | 2024-09-30 | 72.40% | +94.79 pp |
| Q2 2024 | 2024-06-30 | 52.28% | +164.78 pp |
| Q1 2024 | 2024-03-31 | 42.51% | −14.95 pp |
| Q4 2023 | 2023-12-31 | 66.95% | +4.68 pp |
| Q3 2023 | 2023-09-30 | −22.39% | −89.69 pp |
| Q2 2023 | 2023-06-30 | −112.50% | −183.42 pp |
| Q1 2023 | 2023-03-31 | 57.47% | −25.77 pp |
| Q4 2022 | 2022-12-31 | 62.27% | −24.52 pp |
| Q3 2022 | 2022-09-30 | 67.30% | −18.17 pp |
| Q2 2022 | 2022-06-30 | 70.92% | −11.85 pp |
| Q1 2022 | 2022-03-31 | 83.23% | −6.80 pp |
| Q4 2021 | 2021-12-31 | 86.80% | −11.80 pp |
| Q3 2021 | 2021-09-30 | 85.47% | −14.53 pp |
| Q2 2021 | 2021-06-30 | 82.77% | −17.23 pp |
| Q1 2021 | 2021-03-31 | 90.04% | −9.96 pp |
| Q4 2020 | 2020-12-31 | 98.60% | — |
| Q3 2020 | 2020-09-30 | 100.00% | — |
| Q2 2020 | 2020-06-30 | 100.00% | — |
| Q1 2020 | 2020-03-31 | 100.00% | — |
Moderna gross margin trends
Over the last five fiscal years, Moderna's gross margin decreased from 99.00% to 55.35%, a change of −43.65 percentage points. The latest reported quarter, Q2 2026, shows 35.86%.
About the metric
What gross margin means
Gross margin measures the percentage of revenue remaining after the direct costs of producing goods or services. It helps show how efficiently a company turns sales into gross profit before operating expenses.
Calculation and source
How gross margin is calculated
TickerStat calculates gross margin as SEC-reported gross profit divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Moderna source filings ↗