Moderna beats Q1 estimates and reaffirms full-year guidance

Moderna rose in premarket trading after it reported earnings results that beat Wall Street expectations and reaffirmed its full-year guidance.

For the first three months of 2026, the company reported:

• An adjusted loss per share of $3.40, less than the $4.45 loss per share analysts polled by FactSet had expected.

• Revenue of $352 million, more than the $236 million the Street was anticipating. About 80% of that came from outside the US, the company said.

For the full year in 2026, the company still expects:

• Revenue to grow 10%. Currently, analysts are penciling in $2 billion in 2026 sales, which is about a 5% increase.

Moderna was tapped by the US government to quickly develop a vaccine for COVID-19 in 2020, a product that has seen its sales plummet, but remains the company’s main source of revenue.

Now, the company sees growth on the horizon this year, after the European Commission approved its combination vaccine for the flu and COVID-19 for adults ‌50 years and older. Indeed, Moderna said a growing share of its revenue is coming from international markets.

The company has had a harder time getting approval from the US Food and Drug Administration, though the agency said in February that it would reconsider its stand-alone flu vaccine.