Moderna raises 2026 revenue growth forecast to 15–25% — CNBC

Moderna raised its 2026 revenue growth forecast to 15–25% following third-quarter results that exceeded analysts’ expectations. Previously, the company had projected annual revenue growth of no more than 10%.

As CNBC reports, Moderna’s third-quarter revenue rose 29% year over year to $1.31 billion. Analysts surveyed by LSEG had expected $885.1 million. The company posted net income of $162 million, or 38 cents per share, compared with a net loss of $200 million, or 51 cents per share, a year earlier. Earnings per share also exceeded expectations: analysts had forecast a loss of $1.25 per share.

Vaccine sales

Sales of COVID-19 vaccines in international markets, as well as deliveries under long-term government partnerships, supported quarterly results. Revenue in the United States amounted to $780 million, while revenue in international markets was $533 million.

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Moderna CEO Stéphane Bancel attributed the strong quarter to the launch of new products and the expansion of sales geography. According to him, the company is seeing the full-year effect of its next-generation mRNA-based COVID-19 vaccine, which was approved in the United States in May 2025.

Flu vaccine

Bancel also noted that Moderna’s new standalone flu vaccine, approved in the United States in August, will have a limited launch in the country in 2026 due to the timing of its market entry. He explained that COVID-19 vaccine contracts are usually concluded in the first quarter, so the company’s new vaccine had only a limited start last year.