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Can Moderna Sustain Up To 10% Growth As Vaccine Demand Shifts?

Moderna, Inc. reported its financial and operational results for the first quarter of 2026, reflecting a mixed performance with notable developments in both commercial execution and pipeline advancement. The company achieved total revenues of $400 million in the quarter, significantly higher year-over-year by $300 million, primarily boosted by international sales attributable to long-term strategic partnerships, notably with the United Kingdom government. This international market represented approximately 80% of revenue. Moderna reaffirmed its guidance of up to 10% revenue growth for the full year 2026, though the second quarter revenue outlook of $50 million to $100 million suggests a moderation compared to Q1, with an even U.S.-international split anticipated. Despite top-line growth, Moderna reported a net loss of $1.3 billion on a GAAP basis, mainly due to an $878 million litigation settlement charge related to resolving patent disputes with Arbutus and Genevant. Excluding this charge, the net loss was $0.