Moderna's 2023 Sales Beat Estimates Despite Sharp Drop

Company forecasts further sales decline in 2024, but expects return to growth in 2025 with new product launches.

Moderna's 2023 sales reached $6.7 billion, slightly above the company’s latest guidance for at least $6 billion and beating the consensus estimate for $6.3 billion.
Sales for 2023 were down 63.6% from 2022, reflecting a decrease in demand for Covid vaccines.
Moderna's Covid vaccine won 48% of the U.S. market share in 2023, up from 37% in 2022.
The company expects sales to fall to about $4 billion in 2024, but forecasts a return to sales growth in 2025 with the launch of new products.
Moderna currently has 45 products in development, nine of which are in late-stage trials, including a combination shot targeting Covid and the flu.