Moderna Raises 2026 Revenue Growth Outlook, Targets $8.1B-$8.3B in Cash and Investments

Moderna raised its 2026 revenue-growth outlook to 15% to 25% and projected $8.1 billion to $8.3 billion in year-end cash and investments as third-quarter revenue increased 29% year over year.

Revenue reached $1.3 billion in the third quarter, while net income was $162 million. The company also lowered its estimates for research and development and capital expenditures.

The year-end projection includes about $2.6 billion in net proceeds from a 0% convertible note. Excluding those proceeds, Moderna projects cash and investments of $5.5 billion to $5.7 billion.