← Moderna, Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Depreciation and amortization | $20.5m | $24.9m | $31.0m | $31.3m | $232.0m | $348.0m | $621.0m | $189.0m | $215.0m | |
| Amortization/accretion of investments | $1.1m | ($1.9m) | ($3.7m) | $10.2m | $54.0m | $31.0m | ($61.0m) | ($95.0m) | ($67.0m) | |
| Loss on equity investments, net | — | — | — | — | $0 | $0 | $35.0m | $52.0m | $8.0m | |
| Right-of-use assets, operating leases | — | $0 | ($5.7m) | ($10.5m) | ($58.0m) | $21.0m | ($605.0m) | ($53.0m) | $38.0m | |
| Operating lease liabilities | — | $0 | $12.6m | $11.8m | $17.0m | ($14.0m) | $551.0m | $28.0m | ($21.0m) | |
| Net loss | ($255.9m) | ($384.7m) | ($514.0m) | ($747.1m) | $12.2b | $8.4b | ($4.7b) | ($3.6b) | ($2.8b) | |
| Stock-based compensation | $40.1m | $72.6m | $81.1m | $93.0m | $142.0m | $226.0m | $305.0m | $429.0m | $483.0m | |
| Other non-cash items | — | — | — | $0 | $0 | $28.0m | $7.0m | $60.0m | $77.0m | |
| Accounts receivable, net | $1.5m | $195k | $6.7m | ($1.4b) | ($1.8b) | $1.8b | $493.0m | $534.0m | $156.0m | |
| Prepaid expenses and other assets | $579k | ($5.3m) | $9.8m | ($241.0m) | ($489.0m) | ($1.7b) | $974.0m | $145.0m | $153.0m | |
| Inventory | — | $0 | $0 | ($46.5m) | ($1.4b) | $492.0m | $747.0m | $83.0m | ($34.0m) | |
| Accounts payable | ($12.8m) | $15.0m | ($24.0m) | $11.9m | $204.0m | $240.0m | $13.0m | ($69.0m) | ($92.0m) | |
| Accrued liabilities | $34.4m | $8.8m | ($3.4m) | $388.4m | $989.0m | $612.0m | ($340.0m) | ($385.0m) | ($2.0m) | |
| Deferred revenue | ($162.3m) | ($65.3m) | ($44.1m) | $3.8b | $2.8b | ($4.2b) | ($2.1b) | ($439.0m) | $41.0m | |
| Other liabilities | ($145k) | $910k | ($6.2m) | $6.0m | $123.0m | $88.0m | $73.0m | $78.0m | ($6.0m) | |
| Purchases of marketable securities | ($727.2m) | ($1.2b) | ($1.1b) | ($3.0b) | ($12.7b) | ($11.4b) | ($3.8b) | ($6.5b) | ($5.8b) | |
| Proceeds from maturities of marketable securities | $800.4m | $783.4m | $993.2m | $1.1b | $1.3b | $3.2b | $5.6b | $5.6b | $5.6b | |
| Proceeds from sales of marketable securities | $402.5m | $177.0m | $168.7m | $214.7m | $3.1b | $3.5b | $3.2b | $4.0b | $2.4b | |
| Purchase of intangible asset | — | — | — | — | — | — | $0 | $0 | ($10.0m) | |
| Investment in convertible notes and equity securities | — | — | $0 | $0 | ($30.0m) | ($40.0m) | ($23.0m) | $0 | $0 | |
| Proceeds from credit facility | — | — | — | — | — | — | $0 | $0 | $600.0m | |
| Payment of credit facility issuance costs | — | — | — | — | — | — | $0 | $0 | ($22.0m) | |
| Tax payments related to net share settlements on equity awards | — | — | $0 | $0 | ($857.0m) | ($3.3b) | ($1.2b) | $0 | ($2.0m) | |
| Changes in financing lease liabilities | — | — | $1.0m | ($6.0m) | ($140.0m) | ($184.0m) | ($270.0m) | ($10.0m) | ($18.0m) | |
| Purchases of property, plant and equipment included in accounts payable and accrued liabilities | $20.0m | $12.9m | $4.7m | $17.6m | $111.0m | $72.0m | $130.0m | $97.0m | $83.0m | |
| Net cash used in operating activities | ($331.5m) | ($330.9m) | ($459.0m) | $2.0b | $13.6b | $5.0b | ($3.1b) | ($3.0b) | ($1.9b) | |
| Purchases of property, plant and equipment | ($58.4m) | ($105.8m) | ($31.6m) | ($67.4m) | ($284.0m) | ($400.0m) | ($707.0m) | ($1.1b) | ($192.0m) | |
| Acquisition of business, net of cash acquired | — | — | — | — | $0 | $0 | ($85.0m) | $0 | $0 | |
| Net cash provided by investing activities | $417.4m | ($373.1m) | ($14.9m) | ($1.7b) | ($8.5b) | ($5.2b) | $4.2b | $1.9b | $1.9b | |
| Proceeds from issuance of common stock through equity plans | $212k | $1.4m | $47.3m | $179.6m | $124.0m | $65.0m | $46.0m | $66.0m | $35.0m | |
| Net cash provided by (used in) financing activities | $168k | $1.2b | $51.1m | $2.0b | ($873.0m) | ($3.4b) | ($1.4b) | $56.0m | $593.0m | |
| Effect of changes in exchange rates on cash and cash equivalents | — | — | — | — | — | — | $0 | $0 | $2.0m | |
| Net increase (decrease) in cash, cash equivalents and restricted cash | $86.0m | $522.9m | ($422.8m) | $2.4b | $4.2b | ($3.6b) | ($289.0m) | ($999.0m) | $668.0m | |
| Cash, cash equivalents and restricted cash, beginning of year | $147.6m | $670.5m | $247.7m | $2.6b | $6.9b | $3.2b | $2.9b | $1.9b | $2.6b | |
| Cash paid for interest | $0 | $3.0m | $0 | $8.5m | $14.0m | $25.0m | $39.0m | $24.0m | $10.0m | |
| Cash paid (received) for income taxes | $398k | $294k | $416k | $572k | $480.0m | $2.7b | ($357.0m) | $197.0m | $26.0m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.