Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $108M | $206M | $135M | $60.2M | $803M | $18.5B | $19.3B | $6.85B | $3.24B | $1.94B |
| Revenue growth | — | 89.9% | -34.4% | -55.4% | 1233.7% | 2200.2% | 4.3% | -64.4% | -52.7% | -39.9% |
| Operating income | -$224M | -$269M | -$413M | -$546M | -$763M | $13.3B | $9.42B | -$4.24B | -$3.94B | -$3.07B |
| Operating margin | -206.4% | -130.9% | -306.0% | -906.8% | -95.0% | 72.0% | 48.9% | -61.9% | -121.9% | -158.1% |
| Net income | -$216M | -$256M | -$385M | -$514M | -$747M | $12.2B | $8.36B | -$4.71B | -$3.56B | -$2.82B |
| Net margin | -199.5% | -124.3% | -284.8% | -853.7% | -93.0% | 66.1% | 43.4% | -68.8% | -110.0% | -145.2% |
| EPS (diluted) | -$3.79 | -$4.18 | -$4.95 | -$1.55 | -$1.96 | $28.29 | $20.12 | -$12.33 | -$9.28 | -$7.26 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $66.7M | -$331M | -$331M | -$459M | $2.03B | $13.6B | $4.98B | -$3.12B | -$3.00B | -$1.87B |
| Capital expenditures | $33.1M | $58.4M | $106M | $32.0M | $68.0M | $284M | $400M | $707M | $1.05B | $192M |
| Free cash flow | $33.6M | -$390M | -$437M | -$491M | $1.96B | $13.3B | $4.58B | -$3.83B | -$4.05B | -$2.06B |
| Share buybacks | — | — | — | $0.00 | $0.00 | $857M | $3.33B | $1.15B | $0.00 | $2.00M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $50.1M | $135M | $658M | $236M | $2.62B | $6.85B | $3.21B | $2.91B | $1.93B | $2.60B |
| Total assets | — | $1.08B | $1.96B | $1.59B | $7.34B | $24.7B | $25.9B | $18.4B | $14.1B | $12.3B |
| Total liabilities | — | $459M | $432M | $415M | $4.78B | $10.5B | $6.74B | $4.57B | $3.24B | $3.69B |
| Long-term debt | — | — | — | — | — | — | — | — | $0.00 | $590M |
| Shareholders' equity | -$335M | -$551M | $1.53B | $1.18B | $2.56B | $14.1B | $19.1B | $13.9B | $10.9B | $8.65B |
| Retained earnings | — | -$622M | -$1.01B | -$1.50B | -$2.24B | $9.96B | $18.3B | $13.6B | $10.0B | $7.22B |
| Shares (wtd avg diluted) | — | 65.2M | 329M | 331M | 381M | 431M | 416M | 382M | 384M | 389M |
Every figure is extracted from Moderna, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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