Moderna beats revenue estimates despite legal costs, expects 10% sales growth in 2026

Moderna reported a first-quarter adjusted loss of $1.18 per share, better than the expected $3.81 loss, excluding $2.22 per share in litigation expenses. Revenue reached $389 million, surpassing estimates due to increased COVID-19 vaccine sales internationally under long-term government partnerships. CEO Stéphane Bancel highlighted strong revenue growth and cost reductions, with a 2026 revenue growth target of up to 10% and an even split between U.S. and international sales. Moderna also advanced its pipeline with a Phase 3 trial for a pandemic flu vaccine, supported by a $54.3 million investment from CEPI.