Moderna has announced financial results for the second quarter of 2025 and provide business updates, including new regulatory approvals and strategic restructuring efforts.

The company posted USD 142 million in revenue for the second quarter, down 41 percent from USD 241 million in the same period last year. The decline was largely driven by lower sales of its COVID-19 vaccine, Spikevax, which generated USD 114 million in the quarter, including USD 88 million in US sales and USD 26 million internationally.

The company attributed the decline to seasonality, as demand is expected to pick up in the second half of the year.

“Demand is expected to be concentrated in the second half of the year, aligning with the fall and winter seasons as the vaccine continues to transition into a seasonal respiratory product,” it said.

Moderna recently announced US Food and Drug Administration (FDA) approval for the supplemental Biologics License Application (sBLA) for Spikevax in children 6 months through 11 years of age who are at increased risk for COVID-19 disease. The vaccine was previously available for pediatric populations under Emergency Use Authorization (EUA).

Additionally, the company announced it has received final approval from the European Medicines Agency for Spikevax targeting the LP.8.1 variant in individuals six months of age and older.

Moderna also reported negligible sales of mRESVIA in Q2, though the RSV vaccine for adults aged 60 years and older is now approved in approximately 40 countries.

Expanding the previous indication, the FDA has recently approved mRESVIA for the prevention of lower respiratory tract disease (LRTD) caused by RSV in individuals 18-59 years of age who are at increased risk for disease.

In another regulatory milestones, Moderna announced positive Phase 3 efficacy results for seasonal influenza vaccine.

In June, Moderna reported positive Phase 3 results for its seasonal flu vaccine, mRNA-1010, showing 26.6 percent higher relative efficacy than a licensed standard-dose seasonal influenza vaccine in adults aged 50 years and older. The company is preparing to file for FDA approval and present results at medical conferences.

The Company updated its 2025 projected revenue range to USD 1.5 to USD 2.2 billion, reflecting a USD 300 million reduction at the high end of the range. This is primarily driven by the timing shift of deliveries of contracted revenue for the UK into the first quarter of 2026.

For the second half of the year, Moderna expects a revenue split of 40-50 percent in the third quarter with the balance in the fourth quarter of 2025.

"Today, we are updating our 2025 financial framework, reducing the high end of this year's expected revenue range by USD 300 million due to the timing of shipments. We continue to operate with financial discipline and are improving expected annual operating expenses in 2025 by approximately USD 400 million. Looking forward, we have important catalysts over the next six months across our infectious disease and oncology programs that will help us deliver on the promise of our mRNA platform for patients,” Bancel added.

To streamline operations, Moderna announced a global workforce reduction of approximately 10 percent, aiming to bring its total headcount to below 5,000 employees by year-end.