Key Highlights

  • Moderna (NASDAQ:MRNA) will report third quarter 2026 results on Friday, November 6, 2026, with a call and corporate update at 8:00 a.m. ET, the first report since its mRNA flu Vaccine won FDA approval.
  • The Earnings calendar shows a consensus loss of USD 1.10 a share on Revenue of about USD 890 million, figures not independently verified, versus a second quarter loss of USD 1.97 on USD 145 million.
  • The company guides 2026 year-end cash and investments of USD 4.7 billion to USD 5.2 billion, after USD 6.9 billion at June 30 and a USD 950 million litigation payment in July.
  • The FDA approved mFLUSIVA, the mRNA-1010 flu vaccine, on August 5, 2026 for all adults 50 and older, giving the company its next commercial catalyst.

Where the Numbers Stand

In the second quarter, Moderna (NASDAQ:MRNA) reported revenue of USD 145 million and a net loss of USD 782 million. Revenue is seasonal, weighted to the autumn vaccine campaign, which is why third quarter consensus of about USD 890 million is far above the second quarter. For 2026 the company targets revenue growth of up to 10 percent, cost of sales near USD 1.7 billion including a USD 0.9 billion litigation charge, research spending near USD 2.9 billion and selling and administrative costs near USD 1.0 billion. Cash falls as the Business funds a large pipeline, and the company paid USD 950 million in July tied to a litigation settlement. Year-end cash guidance was improved by about USD 0.2 billion from the prior estimate, which suggests tighter spending.

Flu Approval and the Pipeline

The FDA approved mFLUSIVA on August 5, 2026, after an advisory committee voted unanimously in favor of its benefit-risk profile. Filings are also under review in Europe, Canada and Australia. The flu and COVID combination, mCOMBRIAX, has European authorization, while the company awaits FDA guidance on a United States refiling. Phase 3 melanoma data for intismeran, developed with Merck, are potentially expected in 2026, and a norovirus Phase 3 interim analysis did not meet early success criteria. Each readout can change the outlook sharply, and the registrational propionic acidemia study has reached target enrollment, with potential data in 2026. Pipeline news can arrive between earnings dates and move the shares quickly.

Risks and What to Watch

Investors will watch third quarter revenue against the consensus figure, cash burn against the year-end range, early flu vaccine uptake and any pipeline timing changes. Risks include vaccine policy uncertainty, competition in respiratory vaccines, litigation costs and the possibility that the revenue estimate on the calendar is stale. Because the company is loss-making, any shortfall in sales raises questions about funding the pipeline and the pace of cost cuts. The listed consensus was not independently verified, and management commentary on the flu launch, pricing, contracting and Manufacturing may matter more than the quarterly figure. None of these figures is a forecast, and actual results may differ.

Where Things Stand

The company is Moderna (NASDAQ:MRNA), and the answer to the headline question is that the flu approval is a real commercial step, but cash discipline will define the report. With USD 6.9 billion of cash at June 30 falling toward USD 4.7 billion to USD 5.2 billion by year end, the market will focus on whether seasonal revenue and cost cuts hold the guide. The next catalyst is the November 6 release and 8:00 a.m. ET call, plus any updates on melanoma data and the combination vaccine.