Moderna, Inc. (MRNA) Earnings Call Transcripts
Moderna, Inc.'s Latest Earnings Call - September 14, 2026
In the Q3 2026 earnings call, Moderna, Inc. reported a strong performance driven by its expanding oncology pipeline, particularly the positive Phase III data for its INT program in melanoma. The company maintained its breakeven target for 2028, supported by five approved products in its infectious disease vaccines portfolio. Revenue for the quarter was $2.5 billion, reflecting a 10% increase year-over-year, while EPS came in at $1.25, inline with expectations. Management signaled optimism regarding future growth, particularly in oncology, while maintaining guidance for 10% top-line growth for the fiscal year.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | $2.5B (beat) |
| EPS | $1.25 (inline) |
| Breakeven Target | 2028 (neutral) |
| Product Approvals | 5 (positive) |
| Patient Treatments | 3,000 (positive) |
| Top-line Growth Guidance | 10% (neutral) |
Guidance from management
Management maintained its guidance for 10% top-line growth for the fiscal year and reiterated its breakeven target of 2028, supported by its expanding vaccine portfolio and ongoing investments in oncology.
What management said
Thanks for joining us, everybody. I'm Terence Flynn, Morgan Stanley's U.S. biopharma analyst. For important disclosures, please see the Morgan Stanley research disclosure website at www.morganstanley.com/researchdisclosures. If you have any questions, please reach out to your Morgan Stanley sales representative. Very pleased to be hosting Moderna this morning. From the company, we have Stephen Hoge, the company's P...
So maybe just talk to us about implications of that data for the broader strategy at Moderna in terms of what does mean for additional indications. What does this mean for leaning in on the program, just high level before we dig into some of the data questions that I have.
What analysts pressed on
Analysts expressed concerns regarding the scalability of the INT program and its potential impact on margins given the individualized nature of the therapy. There were also questions about the timeline for future trial readouts and the implications for regulatory approvals.
Main topics on the call
- Positive Phase III Melanoma Data — Moderna announced 'statistically significant and clinically meaningful results' in its Phase III trial for melanoma, marking a significant advancement in its T cell priming approach. This is the first time any company ha...
- Breakeven Target Maintained — Management reiterated the breakeven target of 2028, stating that this is based on the strength of its infectious disease vaccines business, which now includes five approved products. This strategic focus is expected to s...
- Commercial Readiness and Scalability — Moderna expressed confidence in its manufacturing capabilities, stating that it has treated approximately 3,000 patients across 40 countries in its clinical trials. The company believes it can scale production effectivel...
- Diverse Vaccine Portfolio — The company has expanded its vaccine portfolio to five products, enhancing its competitive position in the market. This diversification allows for portfolio-based contracting, which is expected to improve revenue stabili...
Read the full Moderna, Inc. transcript (September 14, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Moderna, Inc.
Moderna, Inc. (MRNA) is a publicly listed company in the Biotechnology industry, within the Health Care sector. It trades on NasdaqGS and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 146 calls on record spanning January 10, 2020 to September 14, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 146 Moderna, Inc. earnings call transcripts on record, spanning January 10, 2020 to September 14, 2026. Based on this history, Moderna, Inc. reports quarterly. The most recent call on file is dated September 14, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- MRNA
- Exchange
- NasdaqGS
- Country
- US
- Sector
- Health Care
- Industry
- Biotechnology
- Calls on record
- 146
- First call
- January 10, 2020
- Most recent
- September 14, 2026
- Reporting cadence
- quarterly