Moderna Touts Execution, Cost Savings in 2025

Biotech firm reports $1.9B in revenue, $1B in cost cuts as it looks to 2026

Published on Mar. 10, 2026

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Moderna, Inc. had a strong 2025, reporting $1.9 billion in revenue and achieving over $1 billion in cost savings, according to Lavina Talukdar, the company's Senior VP and Head of Investor Relations. Talukdar highlighted Moderna's successful launch of its second COVID-19 vaccine, mNEXSPIKE, and the finance team's efforts to take $1 billion out of the company's costs. This positions Moderna well financially, with a cash balance of $8.1 billion as it enters 2026.

Why it matters

Moderna's performance in 2025 demonstrates the company's ability to execute on its commercial and operational goals, which is crucial for a biotech firm navigating the competitive pharmaceutical landscape. The significant cost savings also improve Moderna's profitability and financial flexibility as it continues to invest in its pipeline of mRNA-based therapies.

The details

Talukdar noted that Moderna's 2025 revenue of $1.9 billion was at the high end of the guidance the company provided in Q3 2025. This was driven by strong execution from Moderna's commercial teams, particularly around the launch of mNEXSPIKE, the company's second COVID-19 vaccine, which was approved in June 2025. On the cost side, Moderna achieved over $1 billion in savings, exceeding its initial target of $1 billion. Talukdar credited the finance team for setting targets and the broader organization for taking costs out of the business.

  • Moderna's second COVID-19 vaccine, mNEXSPIKE, was approved in June 2025.
  • Moderna reported $1.9 billion in revenue for the full year 2025.

The players

Lavina Talukdar

Senior VP and Head of Investor Relations at Moderna.

Moderna, Inc.

A biotechnology company that develops messenger RNA (mRNA) therapeutics and vaccines.

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What they’re saying

“We also brought down costs. We set out in 2025 to take $1 billion of cost out, and we ended up achieving in excess of $1 billion. So in total, $2 billion of cost that came out in 2025.”

— Lavina Talukdar, Senior VP & Head of Investor Relations (Seeking Alpha)

The takeaway

Moderna's strong financial and operational performance in 2025, including significant revenue growth and cost savings, positions the company well to continue investing in its pipeline of mRNA-based therapies and vaccines as it looks ahead to 2026 and beyond.