Moderna beats 1Q26 revenue estimates with strong COVID-19 vaccine sales, eyes 10% growth in 2026

Moderna reported a strong first quarter for 2026, with revenue of $389 million, up 260% year-over-year, driven mainly by international COVID-19 vaccine sales. Despite a wider net loss due to a $0.9 billion litigation charge and negative gross margins, the company improved cost discipline by reducing R&D and SG&A expenses. Moderna reaffirmed its 2026 revenue growth guidance of up to 10%, supported by promising pipeline developments including the mRNA-1010 flu vaccine awaiting FDA decision in August and late-stage oncology trials. While the stock trades at a premium reflecting optimism about its pipeline, near-term profitability remains uncertain due to execution risks.