Moderna beats Q1 revenue estimates but reports wider net loss due to $0.9B litigation charge

Moderna reported Q1 2026 revenue of $389 million, surpassing estimates of $251.8 million, driven by strong COVID-19 vaccine sales internationally. However, the company posted a GAAP net loss of $1.3 billion, wider than expected, mainly due to a one-time $0.9 billion litigation settlement charge. Excluding this charge, costs declined year-over-year. Moderna expects up to 10% revenue growth in 2026 and is advancing new product approvals and clinical trials, including cancer therapy studies. The company’s cash reserves fell slightly to $7.5 billion due to operating losses and investments.