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August 4, 2022

Moderna reports total revenues of $4.7bn in Q2 2022

Four vaccines for infectious diseases are currently in the Phase III development stage.

Moderna has reported total revenues of $4.7bn in the second quarter (Q2) of the fiscal year 2022 as against $4.4bn in the year-ago quarter.

For the first half (H1) of the year, total revenue stood at $10.8bn, a growth from $6.3bn in the same period in 2021. 

The revenue growth was attributed to the rise in sales of the company’s Covid-19 vaccine.

For the three months ended on 30 June 2022, the basic earnings per share (EPS) stood at $5.55, a decline from $6.93 in Q2 last year.

The GAAP diluted EPS was $5.24 compared to $6.46 in the prior year period.

Furthermore, for H1 2022, diluted EPS stood at $13.85 versus $9.30 for H1 2021.

The GAAP net income in Q2 2022 was recorded at $2.2bn versus $2.8bn in the same quarter last year.

In the second quarter of this year, the company reported product sales of $4.5bn, an 8% rise from Q2 2021, steered by an increased average selling price owing to customer mix.

The company has advance purchase agreements (APAs) of nearly $21bn for product sales for anticipated supply this year. 

This comprises an agreement with the US Government to deliver 70 million vaccine doses.

Currently, four vaccines for infectious diseases are in the Phase III development stage and later this year, the company also anticipates results from proof-of-concept trials in rare diseases and immuno-oncology.

Moderna CEO Stéphane Bancel said: “Today’s earnings represent a strong second quarter performance, with $10.8bn in revenue for the first half of the year.

“We continue to have advance purchase agreements for expected delivery in 2022 of around $21bn of sales. 

“Despite the slowing economy and challenges in the biotech industry, Moderna is in a unique position: a platform to drive scale and speed in research of new medicines, a strong balance sheet with $18bn of cash and an agile, mission-driven team of over 3,400 people and growing.” 

In February, the company reported total revenue of $18.5bn for the full year 2021.

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