Moderna Reports Q2 and Q1 Losses, Appoints New Chief Commercial Officer
Moderna reported a second-quarter loss of $782 million and a first-quarter loss of $1.34 billion, both beating expectations. The company appointed a new Chief Commercial Officer ahead of vaccine launches and disclosed CFO restricted stock unit transactions.
Moderna Inc. posted a loss of $782 million, or $1.97 per share, in its second quarter, matching Wall Street expectations. Revenue of $145 million topped forecasts. The company also reported a first-quarter loss of $1.34 billion, or $3.40 per share, surpassing analyst expectations, on revenue of $389 million.
For the second quarter, analysts had expected a loss of $1.97 per share on revenue of $126.6 million. In the first quarter, the average estimate was for a loss of $3.02 per share, with revenue expected at $223.5 million. First-quarter losses adjusted for non-recurring costs were $1.18 per share.
On June 16, 2026, Moderna appointed a new Chief Commercial Officer, a move aimed at strengthening its organizational structure ahead of up to three new vaccine launches by 2028. The appointee brings extensive experience from senior roles at Zoetis and Bristol Myers.
The company's CFO reported routine equity compensation activity involving restricted stock units. A July 2, 2026 filing showed 1,452 restricted stock units converted into common stock on a one-for-one basis, with 703 shares withheld at $72.50 per share to cover tax obligations, leaving direct holdings of 66,436 common shares and 1,454 restricted stock units. In a separate filing, the CFO exercised 2,475 restricted stock units and had 1,197 shares withheld at $47.19 per share for taxes, resulting in 60,791 common shares and 27,230 restricted stock units held directly. Both transactions were non-market, tax-related dispositions.
Founded in 2010, Moderna is a commercial-stage biotechnology company known for mRNA technology; its COVID-19 vaccine was authorized in December 2020. As of August 2025, the company had 35 mRNA development candidates in clinical studies across infectious diseases, oncology, cardiovascular diseases, and rare genetic disorders. Moderna's market capitalization was approximately $20.68 billion, with a price-to-sales ratio of 9.26 and a GF Score of 60. Over the past three months, insiders sold $3.5 million worth of shares, with no purchases reported.